tag:blogger.com,1999:blog-53201061104583826042024-03-13T11:16:52.723-04:00Housing DepressionIt's not just a Housing Recession anymore.Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.comBlogger328125tag:blogger.com,1999:blog-5320106110458382604.post-3902832935558665002010-12-15T09:33:00.003-05:002010-12-15T09:36:35.155-05:00David Stockman on Dylan RatiganDavid Stockman is one of the voice of honesty. Should be a required video for anyone in Washington DC.Visit msnbc.com for breaking news, world news, and news about the economyHousing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com32tag:blogger.com,1999:blog-5320106110458382604.post-1106511437842033152010-11-18T11:27:00.006-05:002010-11-18T13:58:27.261-05:00Thank you Uncle WarrenDear Uncle Warren,Thank you for the thank you letter to Uncle Sam. Thank you for acknowledging generosity of Uncle Sam - unlike other financial firms who have stolen received billions.Here are some suggestions/comments I have on the letter.First you forgot to mention how much you and the banks have benefited from Uncle Sam's generosity. It would have been great if you mentioned the Goldman Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com1tag:blogger.com,1999:blog-5320106110458382604.post-30173741606857312032009-03-30T13:59:00.001-04:002009-03-30T13:59:02.792-04:00Pension Insurer Shifted to StocksJust when you thought you had seen ennough shoes had dropped, here comes another big one. From boston.com Just months before the start of last year's stock market collapse, the federal agency that insures the retirement funds of 44 million Americans departed from its conservative investment strategy and decided to put much of its $64 billion insurance fund into stocks. The agency refused Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com8tag:blogger.com,1999:blog-5320106110458382604.post-79310984703056973322009-03-30T09:37:00.001-04:002009-03-30T09:37:39.819-04:00Rick Wagoner Out as GM CEOOama administration has forced out GM CEO Rick Wagoner. From WSJ: The Obama administration used the threat of withholding more bailout money to force out General Motors Corp. Chief Executive Rick Wagoner and administer harsh medicine to Chrysler LLC, marking one of the most dramatic government interventions in private industry since the economic crisis began last year. The administration'sHousing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-44933877443847342442009-03-26T09:58:00.001-04:002009-03-26T09:58:02.885-04:00Treasury AuctionsWe wrote about the lack of demand for British bonds yesterday. No sooner did we write the article, US auction for 5-year treasuries yields were higher than expected. Today, we will be watching the 7-year auction very closely. The 10-year yield, which was down to almost 2.50%, is now back up to 2.82% today. The content contained in this blog represents the Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-24238024952024680042009-03-25T11:57:00.001-04:002009-03-25T11:57:38.819-04:00British Bond Auction FailureIn an earlier post, we had written about Quantative Easing and governemnt keeping rates artificially low. We had worried whether the there will be ennough investors out there to buy the bonds. The 40-year UK auction did not have ennough demand. Bank of England Governor Mervyn King told a U.K. parliamentary committee Tuesday that the government needs to be "cautious" about Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com1tag:blogger.com,1999:blog-5320106110458382604.post-59447705242064987502009-03-18T15:43:00.001-04:002009-03-18T15:43:39.430-04:00Fed buying upto $1.3 trillion in bondsThe fed is buying upto $750 billion in mortgage-backed securities and upto $300 billion in longer term treasuries. They are putting additional 1.05 Trillion to buy bonds and further expanding their balance sheets. With fed being about 25% of the mortgage market, how is there going to be price discovery? This will keep the bond yields artificially low. It's going to be Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-90113667112730649282009-03-05T11:38:00.001-05:002009-03-05T11:38:58.183-05:00CNBC Gives Financial AdviceThis is a hillarious video from the Daily SHow about CNBC giving financial advice. I like Rick Santelli who has been against every bailout and been honest every step of the way. The Daily Show With Jon StewartM - Th 11p / 10cCNBC Gives Financial AdviceDaily Show Full EpisodesImportant Things With Demetri MartinPolitical HumorJoke of the DayThe content contained in this blog represents Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-20164005202339381052009-03-05T11:10:00.001-05:002009-03-05T11:10:30.147-05:00$1.9 Trillion and No AccountabilityWhile we are fighting over couple of billions, the fed has loaned $1.9 TRILLION. That's trillion with a capital T!And we do not even know who that money went to and what they are buying. The Fed refused yesterday to disclose the names of the borrowers and the loans, alleging that it would cast “a stigma” on recipients of more than $1.9 trillion of emergency credit from Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-5080610147420621232009-02-26T10:40:00.001-05:002009-02-26T10:40:56.676-05:00New Home Sales in Fall 48%New home sales in January fell 48.2% from January 2008. This is the slowest rate Census Bureau has recorded. Seasonally adjusted, there were 309K new homes sold compared to 597K last year. With the jobs report like the one this morning, it's going to be harder for families to buy a new home. Meanwhile, the inventory for new homes rose to a record 13.3 monts from 12.2 months last Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-25446538892512582592009-02-26T08:03:00.001-05:002009-02-26T08:06:53.315-05:00Fed Creating Another JapanFed Creating Another Japan? From WSJ: Research papers by Douglas Diamond and Raghuram Rajan of the University of Chicago show that the fed may be making the same mistakes Japan had. Japan kept it's zombie banks running instead of taking the losses, which elongated the downturn. Fed seems intent on doing the same thing. To me, the only right decision they made was to let Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-37003950236984621532009-02-20T09:29:00.001-05:002009-02-20T09:29:02.181-05:00Gold Futures Hit $999Gold Futures Hit $999From WSJ:April gold futures are expected to open floor trading in New York around $16 an ounce higher Friday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. March silver is expected to be up 40 cents an ounce. Gold seems to be going through the roof. I wonder if gold is going to be last year's oil.&Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com1tag:blogger.com,1999:blog-5320106110458382604.post-52731206750108242512009-02-12T08:32:00.001-05:002009-02-12T08:32:12.631-05:00700 Millionaires at Merrill LynchThe give aways from the government are ennough to drive the tax payers angry. But add things like this and you realize why there is so much outrage over all the bailouts. Merrill Lynch gave 700 employees bonuses of $1 million. This while the company was losing $27 billion. They paid the bonus in December - much earlier than it's usually paid - so they can get away with it Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-51399553113147011212009-02-11T09:31:00.001-05:002009-02-11T09:31:16.648-05:00Mortgage Applications Down 24.5%From Marketwatch.com: The mortgage applications were down 24.5% from last week. Overall, application volume for the week ended Feb. 6 contracted by an unadjusted 43.9% from the same week in 2008, the MBA said. That's half the mortages from last year. The fed and everyone else in the government seems to be concerned about mortgage rates. But until the Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-62684527639090457762009-02-10T10:33:00.001-05:002009-02-10T10:33:43.233-05:00Run on Money Market Funds Rep. Paul Kanjorski C-Span tells us why there was a need for the TARP and why they could not tell what the "abyss" that they kept referring to. Here is an excerpt from the video.On Thursday at about 11:00 am, the federal reserve notead a tremendous draw down of money market account to the tune of $550 billion was drawn out in a matter of hour or two. The treasury Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-73390361924299448652009-02-06T09:52:00.001-05:002009-02-06T09:52:55.325-05:00Payrolls Down by 598,000 unemployment up to 7.6Jobless rates rose to 7.6 from 7.2 in December. There were 598,000 jobs lost. But this is only half of the story. To see the real story, we need to look at U6 number and beyond. U6 includes persons "discouraged" from working. i.e. People so discouraged by not finding a job, that they have stopped looking.The U6 number (not seasonally adjusted) is 15.4 and Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-46229379592348887322008-11-21T18:08:00.001-05:002008-11-21T18:08:51.914-05:00Tim Geithner is named the Treasury SecretaryObama picks Geithner as Treasury Secretary. I was hoping it was going to be Paul Volcker. It looks like we are going to continue more of the same policy.I know he is a smart guy. But he wanted to save Lehman. I want a guy who is not worried about letting something fail. The content contained in this blog represents the opinions of HousingDepression.This Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-24918595680663130742008-11-20T09:19:00.001-05:002008-11-20T09:19:52.116-05:00Weekly Jobless ClaimsWeekly Jobless claims rose by 27,000 to 542,000 from a revised 515,000 previous week. The four week moving average rose to 506,500 from 490,750. It is about to get worse for the job market. Especially with Citi laying off 50,000 and other financials laying off more people. Equity futures were off on the news. Two year bonds declined below 1 percent for the first time. Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-24752169378564345772008-11-18T09:31:00.001-05:002008-11-18T09:31:00.434-05:00PPI Falls by a record amountDeflation?The headline PPI fell by a record 2.8 percent last month. The core rate which excludes oil and food prices rose by .4 percent in October. The headline inflation fell along with energy prices. It looks like deflation is showing up in the (headline) numbers. The only question now is, are we going to jump to the other side of hyper-inflation - especially with the Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-49770912863788697802008-11-17T09:41:00.001-05:002008-11-17T09:41:58.902-05:00Citi Shedding 50,000 JobsCiti is planningto cut another 50,000 jobs. That would be on top of the 23,000 jobs it has cut already. The banking giant, Citigroup, which a decade ago set out to rewrite the rules of American finance, announced Monday morning that it would cut 50,000 jobs in the coming quarters, largely by selling assets.In addition, the bank said that it would trim expenses by 16 percent to Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-10377824086051424282008-11-13T09:29:00.001-05:002008-11-13T09:29:17.648-05:00Weekly Jobloss and GMThis was yet another grim jobs report. From Bloomberg: Initial jobless claims increased by 32,000 to a larger- than-forecast 516,000 in the week ended Nov. 8, from a revised 484,000 the prior week, the Labor Department said today in Washington. The total number of people on benefit rolls jumped to the highest level since 1983. ``The labor market is only reinforcing a very pessimistic Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-47489501122299201352008-11-12T18:55:00.001-05:002008-11-12T18:55:08.288-05:00Fed to Back GE DebtWhere does all this stop? We have American Exress becoming a bank holding company so they can borrow from the Fed. We have GM begging for aid. AIG borrowing some couple of billion more. Now, the government will guarantee GE debt. WSJ is reporting that GE will paticipate in FDIC's (Not so) Temporary Liquidity Guarantee Program.The company says the U.S. Government willHousing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-59676769962600055012008-11-07T09:31:00.001-05:002008-11-07T09:31:55.177-05:00Bleak Jobs ReportEmployers cut 240,000 jobs in October. And August and Septemeber job loss were revised up by 179,000! That's loss off 419,000 in this job report! The unemployment rate rose to 6.5 percent. That's highest since 1994. Despite the job loss the 10 year bond yield (as of now) rose .02 or .54%. You have to wonder if we will have a slowdown and an increase in interestHousing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-42189950458480857022008-10-09T09:01:00.001-04:002008-10-09T09:01:54.315-04:00Jobless claims drop to 478,000Jobless claims dropped by 20,000 last week to a seasonally adjusted 478,000. The four-week moving average is at 482,000. That is the highest since October 2001. And the numbers are going to get worse as the downturn begins. All this does not bode well for consumer spending, who are already strapped with lower home prices (although I never understood why your home price Housing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0tag:blogger.com,1999:blog-5320106110458382604.post-25307013197247926992008-10-07T09:10:00.003-04:002008-10-07T09:10:48.525-04:00Fed to Purchase Commercial Paper From WSJ:The Fed announced a plan to purchase commercial paper directly from issuers. The Treasury Department will make a special deposit at the Fed to back the facility.Looks like yet more expansion of feds authority. The content contained in this blog represents the opinions of HousingDepression.This commentary in no way constitutes investment advice. It should never be relied on inHousing Depressionhttp://www.blogger.com/profile/18371948772032955202noreply@blogger.com0