» Business Economy
Inflation and Deflation All at the Same Time
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The Voice of the White House for July 25, 2008
Washington , D.C. , “What America is now facing is the title of O’Neill’s play, ‘A Long Day’s Journey Into Night.’ Congress has rushed through a Band-Aid bill to : ‘help’ home owners but it is far too little and far too late to do any good. Major banks like Wachovia, Chase and Bank of America are tottering and no one is lending money to anyone anymore.. » read more
Super Losses, Super Layoffs, Super Bailouts
July 23, 2008 Financial sector statements dont add up, FDIC reserves pounded hard from IndyMac debacle, bailouts will soon come at the expense of the consumer, bond market watch, realities of a debtor nation, financial institutions given protection from shorting So far this week we saw Wachovia get socked for an $8.86 billion loss with a layoff announcement of 10,750 employees, while Washington Mutual got hammered for a $3.3 billion loss and increased its beleaguered loan-loss reserves by $3.74 billion to $8.46 billion as it announced expense cuts and asset sales.. » read more
29 STATES FACE TOTAL BUDGET SHORTFALL OF AL LEAST $48 BILLION IN 2009
June 23, 2008 TO VIEW THIS PDF DOCUMENT CLICK ON: www.fourwinds10.com/resources/uploads/ pdf/29_States_Face_48_Billion_Shortfall.pdf . » read more
17,000 Valley Homes [California]Siezed As Foreclosures Continue to Skyrocket
July 23, 2008 More than 17,000 Northern San Joaquin Valley homes have been lost to foreclosure during the past year, data released Tuesday shows. The number of homes repossessed by lenders continues to skyrocket in Stanislaus, San Joaquin and Merced counties, according to DataQuick Information Systems. Many homes in the valley, such as this one on Mable Avenue in northeast Modesto, have been foreclosed on in the past year. Ted Benson/The Modesto Bee - The Modesto Bee - Ted Benson This April, May and June, for instance, 2,207 homes were foreclosed on in Stanislaus, pushing the county's one-year total to 5,554. That means about 1 in 25 Stanislaus homes were lost to foreclosure from July 2007 through June.. » read more
O.C.[Orange County, CA) Home Slump Equals $411-a-day Loss off June ‘07 Peak
June 16, 2008 DataQuick’s final O.C. report on June homebuying seems to show renewed skittishness among O.C. shoppers.. » read more
INSIDERS AGREE: BANK RUNS IMMINENT
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The Global Economy is at the Point of Maximum Danger
July 21, 2008 t feels like the summer of 1931. The world's two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.. » read more
Cosmic Markdown: EPA Says Life Is Worth Less
Saturday 19 July 2008 Someplace else, people might tell you that human life is priceless. In Washington, the federal government has appraised it like a '96 Camaro with bad brakes. The EPA recently lowered the value of a human life. (Photo: NewMomies.com) Last week, it was revealed that an Environmental Protection Agency office had lowered its official estimate of life's value, from about $8.. » read more
A Complete And Systemic Breakdown
July 16, 2008 Second largest bank failure in US history has been duly noted, with a repeat bailout like Bear Stearns, paying down debts still the better plan, PPT supplies another miracle rally for the Dow, but we fear they only delay the inevitable, Fannie and Freddie collateral now Toxic Waste, liquidity drains now wide open, watch for the downward spiral What you are witnessing is the acceleration of a complete systemic breakdown of the US and world financial systems and economies. It is happening right before your eyes. It is in your face. The Scylla and Charibdis of real estate finance, Fannie Mae and Freddie Mac, which are currently in possession of, or have insured, over 5 trillion dollars worth of mortgages, a good portion of which are nothing but toxic waste, have imploded and will now be nationalized in the most egregious example of moral hazard in the history of the world. As this socialism for the rich transpires, IndyMac Bank has gone up in smoke.. » read more
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