mortgages
In a speech at a rally for the National Association of Home Builders last Thursday, posing in front of an unbuilt home that no one will ever buy because no one can get a mortgage, alleged fiscal conservative Newt Gingrich argued on behalf of home ownership and government support of it, and in the process [...]
IT’S LIKE A RECOVERY, BUT WITH NO EQUITY, SAVINGS, CONSUMER SPENDING, JOBS, RETIREMENT ACCOUNTS, INNOVATION, STRONG CURRENCY, AFFORDABLE HEALTH CARE, BASIC SHELTER, OR LONG-TERM PROSPECTS FOR A COMPETITIVE MODERN ECONOMY: “The housing market continues to threaten signs of an economic recovery, with new data released on Thursday showing an all-time high of Americans falling behind [...]
NATION OF UNDERWATER HOMEOWNERS: According to some estimates, about 20 percent of people with mortgages owe more on their homes than what they’re actually worth. Your mileage may vary depending on whether there are a lot of foreclosures in your area, because fire-sale pricing will naturally depress surrounding home values even more than just a [...]
Remember back in the early days of the Iraq War when President Bush repeated dumbly, month after month, “We’re turning a corner,” and things just got worse? That’s basically the situation in our domestic housing market: a relentless onslaught of bad news, brief hope that things could not possibly get any worse, followed by unspeakably [...]
White House press secretary Robert Gibbs has had the tendency, early on, to embarrass himself during press conferences by turning snippy as a defense. But this comment about Kathryn Jean Lopez’s pretend boyfriend and preferred vice presidential candidate, Rick Santelli — a rich ex-financial rich guy who now (rather brilliantly, we admit) manages to win [...]
Criminy! We have been hearing a lot about mortgages that go into default or foreclosure, and how the people holding these mortgages should talk with their lenders about renegotiating their loans. As a normal person with more than two (2) neurons flickering on and off in your brain, you probably assume that the goal here [...]
Oh hey it’s that mob rule and class warfare we’ve been told so much about! A SEETHING MOB of, uh, peaceful protesters who were not arrested by police visited the homes of two “financial predators” over the weekend. Financial predators are like sexual predators, only without the sex perversions. Instead, they like to lure youngsters [...]
After the economy and capitalism completely died in September because one freaking company called “Lehman Bros.” was denied billions of dollars from the Federal Government, the liberal New York Times has been running a weekly-ish series called “The Reckoning” about the various Wall Street jackals — i-bankers, hedge fund managers, risk-rating companies — who pooled [...]
Money-printing liquidity trapper Ben Bernanke has been a Local Loser in recent months after rapidly cutting the federal funds rate to negative 1,000% to no effect whatsoever, except national embarrassment. He’s had to print Master Paulson’s money, alone, every night, as punishment. He is not allowed to shave. But as Paulson and his flack Neel [...]
So, uh, the economy doesn’t seem to be doing much, uh, better. The S&P 500 is back down to 1997 levels. 1997! Everybody’s losing their jobs, if they still have jobs. Some are suggesting it will not even be a Merry Christmas, and that the real (Muslim) Jesus is sort of getting a kick out [...]
Treasury Secretary Hank Paulson announced a major shift today in the Troubled Asset Release Program (TARP!) — or, as the kids call it, “n00bama bailout $ocialism” — and we do not necessarily know to what the shift is. We know from what Hanky is shifting away, though, and that is the plan to buy toxic [...]
You may recall the second question from Tuesday night’s town hall debate from a young black fellow named Oliver Clark. Clark asked the candidates what the bailout package does for the Average American. McCain responded by attacking Obama for not regulating Fannie Mae and Freddie Mac — it was his ONE JOB AND HE BLEW [...]
Well here is your updated Dow Jones thing, about which every “person on the Internet” today has been freaking. It went down like 350 points after a far greater initial plunge. This has baffled many, many people today, that this stock index fell triple-digits on a day when every remaining bank on Earth basically failed.
Hmm, here is an interesting video clip sent to us by a Wonkette New Hampshire Primary Operative. It shows John McCain last November talking with some nice New Hampshire newspaper editors about economic things and good christ, maybe everything he said was rubbish, but this was possibly the first time we saw him looking not [...]
