Great Recession Roundup — January 12, 2009

Items of Interest:John Wasik, Bloomberg:U.S. Housing Market Still Offers Hidden Value -- Some of the most durable areas have shown lower volatility ... is almost always anchored by employment, above-average wealth and education...What Is Worse - Personal Bankruptcy Or Foreclosure? - Diana Olick / CNBC Realty Check----The Madoff PonziNY Post:MADOFF [more...]

Date: 2009-01-13 03:06:00

Blog posts (588) | Videos (66)
 

The Borg: A Financial Allegory

This is an allegory explaining some of the monetary issues associated with the current financial crisis. It was written by Jason Bradford ... The Reality Report. I have never been a huge follower of Star Trek, but when thinking ... that the face value of money is what it is. Money is created through forms of credit and debt, i.e. [more...]

Date: 2008-10-06 14:38:07

Over 11 million Americans are out of work.

Another half a million jobs lost… unemployment reaches new historic highsSo how long until people take to the streets? ... , terrorism and loss of legal order,” says the Phoenix Business Journal, citing the USAWC, “are among ... you… can’t happen here.”“The macro deterioration in the wake of the disruption of the old credit [more...]

Date: 2009-01-10 03:15:00

NYT/LAT Disrespecting Mrs. Palin’s Marriage?

-By Warner Todd Huston What’s in a name? Well, if you’ll excuse my Shakespeare, what’s in a name is a certain level of respect. And in the pursuit of straight news a person’s name should be presented without sarcastic manipulation as well as with proper titles affixed. For instance, Hillary Clinton is properly either Mrs [more...]

Date: 2008-09-08 12:21:28

At Witz' End: Other Views on Detroit

Filed under: AutoblogGreen Exclusive, Green Daily, At Witz End"I hope GM goes bankrupt," said the young California man in the Japanese restaurant ... in some peoples' minds, and the UAW has been only one small part of their high-US-business-cost problem. Clearly ... and surrounding small businesses depend on it to feed, clothe and shelter their kids. [more...]

Date: 2009-01-02 00:50:00

Obama OKs Modest Tax Changes After Seeking Ideas

Pushed by fellow Democrats, President-elect Barack Obama agreed to modest changes in his proposed tax cuts on Friday after inviting lawmakers to ... or significantly alter a proposed tax credit for creating jobs. Further, Democrats sought inclusion of relief ... up a small part of a massive economic stimulus bill — expected to reach over $800 billion [more...]

Date: 2009-01-10 02:06:15

John McCain: Davenport Liveblog

Why is John McCain in Iowa when polls show him trailing? Will he again defend his opponent Barack Obama from personal attacks as he did Friday? What is his response to an Alaska legislative report charging his running mate Sarah Palin ... in Davenport. The Republican nominee insists he’ll win Iowa, but had no comment about the Palin report. Nearly [more...]

Date: 2008-10-11 13:02:40

Gates of Vienna News Feed 1/5/2009

Read through the official European reactions to Israel’s ground offensive into Gaza: Zapatero, the Vatican, the Italian government — all are pressuring Israel for a ceasefire. The surprise is Dutch Prime Minister Jan Peter Balkenende, who states that it would be pointless to condemn Israel without addressing what Hamas is doing [more...]

Date: 2009-01-06 04:54:00

Gates of Vienna News Feed 1/2/2009

In tonight’s news: Israel is poised to send ground troops into Gaza.A Muslim family was removed from a plane before takeoff, and is being compensated by the airline for the error. CAIR is in high dudgeon about the incident.Thousands of shoes were dumped on a Miami expressway — is that a message for President-eject Bush? [more...]

Date: 2009-01-03 04:42:00

Where Eagles Dare

9 September 2008 Helmand Province, Afghanistan When I was briefed on the top-secret mission before it was launched, I thought : “Good grief.  I might have to report on the failure of one of the largest and most important missions ... of a handful of special operators—often on horseback—to a sort of lethal day-to-day business.   Morale [more...]

Date: 2008-09-07 08:00:05

Market Vertigo

I get a lot of newsletters from money managers around the country, which I try and read as they are written by people who are “in the trenches, ... , The Economist, Business Week and Forbes. Like most market pundits at the beginning of every New Year ... at the beginning of 2008 we would experience freezing credit markets, bankruptcies and near [more...]

Date: 2009-01-08 15:33:22

Dark Horse Preview Review for March

A little editorial prerogative to get out of the way first and that is a big THANK YOU to Gwen and Lee in covering the extra days this week. I was on both a business and mini vacation and with being as busy as I have been I could ... its 2007 Graphic Novel of the Year, and legions of devoted fans consistently report that it makes them [more...]

Date: 2009-01-08 05:01:00

An Alternative Plan for Fixing Credit & Housing

Bill King, who I have quoted many times in this space, puts forth an intelligent alternative to the two plans circulating D.C ... has been a small, often insignificant part of their business. They made money by trading and through ... premises: • The US credit system is broken. • The Paulsen-Bernanke Bailout Plan does not insure [more...]

Date: 2008-09-26 22:30:00

Not Very Stimulating

At 06:00 this fine Saturday morning, the Obama folks released an analysis by their economic team of how their economic stimulus package is supposed to work (see full text here).  Quite frankly, I think there would be more stimulus from handing out coupons to Starbucks for a good shot of Joe, than this stimulus plan suggests [more...]

Date: 2009-01-08 23:22:00

Highlights and Lowlights of BofA’s Earnings Call

Bank of America moved its earnings announcement up to this morning to soothe investors after The Wall Street Journal’s report that BofA would need ... and $27 billion in credit costs. Many of the problems originated at Merrill Lynch, which had a loss ... Goldman Sachs research analysts noted wryly in a research report this morning. BofA CEO Ken Lewis [more...]

Date: 2009-01-16 16:01:30

One Way to Protect Against Identity Theft

When information gets stolen, it is used in various ways. Sometimes the thief may use it to drain your bank account, for example ... will not extend credit without first pulling a consumer’s credit profile. If you place a “security freeze” on your credit profile, the reporting agencies are prohibited from releasing your credit [more...]

Date: 2008-09-22 21:10:55

Gates of Vienna News Feed 1/4/2009

The overwhelming evidence of global warming continues to accumulate — as does the level of ice and snow in Greenland’s central ice cap, which increases at a rate of about two inches a year.Shhh! Don’t tell Al Gore…Thanks to Abu Elvis, Barry Rubin, C. Cantoni, heroyalwhyness, JD, Lexington, LN, RRW, VH, and all the other tipsters who sent these in [more...]

Date: 2009-01-05 04:27:00

Roger Wiegand: Economic Predictions for 2009

“We think we now have enough data from both the fundamentals and technicals to make some serious forecasts and predictions for 2009 ... solvent and stay in business. They are doing nothing to extend credit to any business enhancing ... discovered but a small portion of this monster derivative mess. His ripping-off of the taxpayers [more...]

Date: 2009-01-08 04:08:00

21 September SWJ Roundup

QUOTE OF THE DAY Gates is allergic to most forms of publicity. He hates the Sunday talk shows, which he regards as Washington insiders talking to each other. He hates town hall meetings, which aides say he views as stagecraft. He hates schmoozing with members of Congress (many of whose pork-barrel projects Gates would like to cut) [more...]

Date: 2008-09-21 10:46:39

22 September SWJ Roundup

QUOTE OF THE DAY Gates is allergic to most forms of publicity. He hates the Sunday talk shows, which he regards as Washington insiders talking to each other. He hates town hall meetings, which aides say he views as stagecraft. He hates schmoozing with members of Congress (many of whose pork-barrel projects Gates would like to cut) [more...]

Date: 2008-09-22 10:09:02

US Economy - A “perfect storm” of housing and lending events

First let me qualify this post. I am not an economist. However I do have more than the average “Bear Sterns” experience in the real estate world and lending. So here, I like to project some of my own theories as to the culmination of the US economy, turning a 180 because of the effects of what many like to call the subprime mortgage crisis [more...]

Date: 2008-09-23 01:20:23

To p2pnet — ‘You’ll be sorry!’

p2pnet news view Freedom | P2P: “You a fucking washed out loser. You can not make a living in any other way except by running a site which says it is a new site that which is nothing but you shooting your mouth off.” That’s part of several emails I found waiting for me following yesterday’s Trolls? Not. But flames? OK (mostly) [more...]

Date: 2008-11-23 15:27:24

2008: The Financial Year in Review

Quote of the year. “I find the great thing in this world is not so much where we stand, as in what direction we are moving ... recession and led to $1 trillion in global credit losses. The fallout was remarkable: the broad stock ... and stagnating home sales, increasing energy costs, and tighter credit. Those predictions largely proved true [more...]

Date: 2009-01-06 16:02:02

MSM Stealing Blog Content: Times Online Joining Growing MSM Trend?

John Edwards Love Child Story Goes International No Attribution in TimesOnline Edwards story Is This a New Business Model for a Mainstream Media ... to arise. We sent a letter yesterday to the Times Editor-in-Chief asking that proper credit be given ... stated that they viewed us as a blog and because we were a blog, they did not need to credit us.” [more...]

Date: 2008-07-28 00:06:16

The Global Capitalist Crisis & India

The following is an editorial from Analytic Monthly Review. Published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review. From the mrzine site.At Kasama, we are eager to see creative new work analyzing how global capitalism now operates in major Third World countries — and what that means for revolutionary possibilities and [more...]

Date: 2009-01-13 15:03:48

If I Ruled the UK

They say you should read the sort of thing you write.  So I thought I’d have a look round some blogs this lunchtime ... (on behalf of the landlord, ha, ha) 6 months rent in advance - free credit in other words.  I’d just sold ... this is what I’d do, in response to some of her points:“1 Landlords are obliged to submit to the same credit [more...]

Date: 2009-01-08 16:01:29

ECommerce Hosting

By Sylvester Malone Choosing a Shared Web Hosting Plan to run a small business or affiliate program from is an excellent choice ... or small business everything that it needs to operate successfully. Each plan includes large ... , SSL certifications to give your customers credit card, echeck, and other payment methods [more...]

Date: 2009-01-08 11:10:12

Lehman’s (LEH) ‘Dozy’ Risk Metrics Are to Blame

As Lehman Brothers (NYSE:LEH) stares into the abyss, Martin Hutchinson says the company's risk management strategy is to blame ... that forced little restraint on bankers. This meant even a small drop in asset values could wipe ... -management strategies. Let’s take a closer look. In its 2008 Annual Report, Lehman boasted of having [more...]

Date: 2008-09-12 14:03:32

6 Unlucky Australians Who Couldn’t Catch a Break

Last month, I wrote an article about fortunate Australians, which suggested that the nation deserves to be called “The Lucky Country ... at several business endeavours. He went to California for the 1848 gold rush, but while others were ... , took the credit (and a handsome reward from the government), and started an Australian gold rush [more...]

Date: 2008-10-20 19:04:00

For stores, the holiday season may already be over

NEW YORK (AP) — The holiday shopping season begins Friday with a blitz of early morning specials. For some merchants, though, it’s practically over already. Piles of jewelry, clothing and electric drills are bypassing store shelves and heading straight to liquidators by the caseload as stores try to save as much cash as they can [more...]

Date: 2008-11-28 02:37:40

How bloody could the electoral consequences of 2009 budget be?

So after more than a week and a half and a bank holiday the media and the politicians are still coming to terms with the budget aftermath. Taking a quick look at the Red C poll published in the Business Post on Sunday last, it was bad ... by other factors. It should be noted that the FF internal report chaired by Cowen a few years back [more...]

Date: 2008-10-28 11:47:43

The Days Of Selling For An Unreasonable Price Are Gone

The Rocky Mountain News reports from Colorado. “Caroline Hoyt, whose company next Saturday is opening the Casitas at Stapleton, ... contracts. We don’t accept contingencies. They all fell apart over credit issues.” “If you want ... markets for years.” “‘When I got into the business nine years ago, all the stories were [more...]

Date: 2008-09-15 21:01:45

DrumBeat: August 9, 2008

Living simply provides economic shelter CHICAGO (AP) — Keri Rainsberger isn't rich. She works in the nonprofit world for a relatively low-profit salary. Yet, as many Americans are scrimping for every penny, she hardly feels the pinch. She still tithes 10% of her income to her church, even as other members have cut back [more...]

Date: 2008-08-09 11:57:51

Sometimes, You Gotta Flush Twice.

Obama pieces together economic planObama released a report from his economic team that claimed a $775 billion economic stimulus package he is ... . With no savings account, and a low credit score, they are hardly rich. You're rich when your money ... the minimums on your credit cards, and just the interest on that jumbo mortgage doesn't make you rich [more...]

Date: 2009-01-10 16:09:00

Ramalinga Raju Satyam Chief Admits Huge Accounting Fraud

Posted on 11:15 PM No CommentsSatyam Computer Services, a leading Indian outsourcing company that serves more than a third of Fortune 500 companies, ... on Satyam’s business with its clients,” said analysts with Religare Hichens Harrison on Wednesday ... -and-a-half page statement to the Bombay stock exchange, Mr. Raju described a small discrepancy that [more...]

Date: 2009-01-09 17:45:00

Q & A with Lewis Schiff

Lewis Schiff, author of the Middle Class Millionaire, a book I reviewed last week graciously answered questions from readers of the review ... -Class Millionaires emerging clearly in the form of mergers and acquisition (small business activity ... , life insurance policies and business lines of credit to borrow against that others might not. How [more...]

Date: 2008-10-06 13:30:48

Obama OKs modest tax changes after seeking ideas

Obama OKs modest tax changes after seeking ideas President-elect Barack Obama speaks about the economy at George Mason University in Fairfax, Va ... alter a proposed tax credit for creating jobs. Further, Democrats sought inclusion of relief ... up a small part of a massive economic stimulus bill - expected to reach over $800 billion over two years [more...]

Date: 2009-01-10 02:39:47

Loose Lips Daily: Fenty Bids Dubya Farewell

As much local politics as humanly possible. Send your tips, releases, stories, events, etc. to lips@washingtoncitypaper.com. And get LL Daily sent straight to your inbox every morning! IN CASE YOU MISSED IT—”Man Dies at City Detox Facility“; “Wilson Building Gift Grab Begins” DATELINE CHICAGO—Morning all [more...]

Date: 2008-12-22 14:47:20

Conspiracy of the Lemmings: Barack Obama and the Strategy of Manufactured Crisis; Part II

Cross-posted by Maggie at Maggie’s Notebook By Jim Simpson Note: I am indebted to the incredible efforts of many bloggers, who did the yeoman’s work of ferreting out many of the hard-to-find facts in this article. I particularly want to thank David Horowitz and his Discover the Networks team, Trevor Loudon of New Zeal blog, Cliff Kincaid, [more...]

Date: 2008-10-31 14:25:21

DrumBeat: December 31, 2008

The Peak Oil Crisis: Civil Unrest Before grappling with 2009, it might be useful to remind ourselves that there is a dark side to what lies ahead ... College had released a report talking about preparing for civil unrest in the U.S. When you read the report, it turns out to be yet another warning about generals preparing for the last war. It devotes [more...]

Date: 2008-12-31 13:58:02

GLOBALISATION AND ITS IMPACT ON WALES

Polish road signs are now a common sight all over Our CountryRight I am going to do something a little different with what may be the penultimate post of the year.But before I start it, I would like to give a public thank you to Ancient Brit who provided me with the information I will be publishing [more...]

Date: 2008-12-31 08:52:00

DrumBeat: August 8, 2008

Oil sinks to 3-month low Crude ends near $115 a barrel on a slumping global economy and after disrupted supply from a pipeline attack in Turkey is rerouted. Light, sweet crude for September delivery settled down $4.82 to $115.20 on the New York Mercantile Exchange. It was the lowest close since May 1, when oil finished at $112.52. .. [more...]

Date: 2008-08-08 12:25:54

Gates of Vienna News Feed 1/8/2009

The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]

Date: 2009-01-09 04:49:00

Gates of Vienna News Feed 10/8/2008

As of tonight the news feed has been up and running every day for three months (except for when I’ve been away).I’ve received a few complaints about it. Some readers don’t like to have to scroll through the headlines to get to the good stuff, and others don’t want me to waste space on American news stories which are being covered thoroughly [more...]

Date: 2008-10-09 03:43:00

Fannie and Freddie to Announce Mass Loan Modification Program

re-default. This may also further erode investor confidence in residential mortgage backed securities, ... monies to put towards housing payments. Step 3) Start Improving Your Credit Rating This can take a long ... you pay your bills on time, that you have good credit.  Paying your bills on time only accounts for 30 [more...]

Date: 2008-11-11 19:02:07

Some Opening Thoughts November 4, 2008 and a Long Digression on the Election

Prices of Treasury coupon securities are registering, on balance, small losses in overseas trading ... in Australia are posting small losses, in spite of a greater than anticipated 75 basis point cut ... to be a rather slender reed to credit for the early price action but that is the most informative little [more...]

Date: 2008-11-04 12:23:06

Why Does The GOP Want To Destroy The Auto Manufacturing Sector?

Three dangerous reactionariesI can't say what I liked less as a kid, going to the dentist or going to a Broadway musical. But I've never gotten one musical, or one scene from a musical, out of my head. I was around 10 when my mother dragged me to see the musical adaptation of Al Capp's comic strip, Li'l Abner, at the St. James Theater [more...]

Date: 2008-11-17 16:00:00

The Brakes Are Not Working In California

The LA Times reports from California. “A record 10% of the nation’s mortgage-burdened homeowners fell behind on their loan payments or were in foreclosure during the third quarter, according to a survey released Friday by the Mortgage Bankers Assn., which said California and Florida were the biggest contributors to the worsening picture [more...]

Date: 2008-12-06 18:15:59

Whatever Happened to David Cay Johnston? Former NYT Business Journalist’s Leftiness Is In Full Bloom

DavidCayJohnston0808.jpeg A former New York Times investigative journalist who wrote primarily on business and taxation will soon be speaking at a ... . He posted comments at the original BizzyBlog post (here and here). Johnston gets credit for responding, but other commenters generally gave him demerits for his responses. While I made a relatively s [more...]

Date: 2008-08-18 17:35:13

Boehner Frets About What He Calls Republican "Knuckle-Draggers" Opposing The Bailout

The Bush Regime's Shock Doctrine strategy worked so well for them-- if not for us-- in the run up to the attack on Iraq ... is proceeding under (or around): today's monthly job report: The government is out with more bad economic ... the government conducted its survey during the week of Sept. 8, before the credit crisis took a new [more...]

Date: 2008-10-04 02:19:11

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