TrimTabs paints a bearish picture of the U.S. economy, asserting it may be "weaker than government statistics report.” The firm cites wages and salaries, up 3.6% but only 0.7% when adjusted for inflation; steady initial unemployment insurance claims, implying “the unemployment rate is unlikely to fall significantly"; and further weakness in Case-Shiller housing data. [View news story]
Don't worry all the bad news that has been ignored will resurface once they decide to drive the market down. If things were as rosy as they make them sound there wouldn't be all that central bank easing all over the world. The market may have responded in the last three years like its 2005. But if I can short this thing right I'm going to party like its 1999.
Despite new laws aimed at reforming the financial system, the largest U.S. banks remain a threat to stability and should be broken up, Dallas Fed's Richard Fisher says. The big banks "significantly hamper the Federal Reserve's ability to properly conduct monetary policy... their presence continues to play an important role in prolonging our economic malaise." (pdf) [View news story]
The Govt. is so powerful they just dictated to the world that anyone who does business with Iran will be shut out of the US banking system and doing business in America. There was an article stating that Shell is having problems getting paid 1 billion from Iran oil sales. Plus It won't matter much what people think when they finally stop printing money and all transactions are electronic. Bigger is not better ...Eventually people will learn this.....when its to late.
AT&T (T) is quick to say "I told you so" to the FCC over T-Mobile's (DTEGY.PK) job cuts; exec Jim Cicconi writes AT&T promised to maintain the call centers T-Mobile is shuttering. "How's this for tactless?" responds GigaOm's Kevin Fritchard, who's quite skeptical Ma Bell would have held onto all 24 of T-Mobile's call centers in the face of massive redundancies. Update: The FCC responds by asserting the merger would have "resulted in significant job losses." [View news story]
You are correct. The only good news is its not going to cost me as much as the new generations to come. Age has its rewards and time is the great equalizer.
"We are finding that homebuyers are no longer expecting home prices to decline further, which is creating some sense of urgency to buy now," says KB Home (KBH) CEO Jeff Mezger. A key reason for the Q1 miss is a "spike" in cancellation rates from customers unable to get mortgages, even those already with full loan approval letters. (h/t Joe Weisenthal) [View news story]
That is correct Bill. I just sold a land contract I had in Cleveland for 15K. It wasn't worth getting stuck with it. The tenant as I would call her had 2 bankruptcies and a foreclosure and she paid when she wanted to. Better to sell it for 15k than to put 25K into the property and end up selling it for 40K. Complete rehabs down the street are going for 65K on special Govt programs (incentives))). Those houses are like new. To make my house look like that would cost me 40k in material with me doing the work. Most people making statement here don't realize the cost of materials.......More than what the house is worth. That goes for better areas as well. That's what happens when your dumb enough to pay 150k for a parcel. Bought a double in this better area of Cleveland for 65K back in 1994. My 30 year FHA mortgage with principle interest and insurance payments came out to 185k for 30 yrs. on a 1929 house. Sold it for 90k 4 yrs later. I can buy it now for 10k. and in 1990 that house could have been bought for 5k. Tack can make what ever comments he wants as I stated....its about income,location,condit... Been to Florida to look at property. Can buy 5 year old 3500 sq. ft. with 3 car garage in gated community for 120k use to sell for 350k. You have to be able to afford the taxes and maintenance cost....not just the mortgage. In some areas of the country property taxes are more than the mortgage. Most people coming out of apartments don't consider cost such as paying for heat and water and sewer and garbage collection. Lawn mowers,gas,weed wackers,repairs like roof,furnace and so on and there is many more. I'm moving in with my girl in an apartment. Will consider owning agian if my out of pocket expense to live there is less than 5k a year. Otherwise the apartment management team can cut the lawn,plow the snow,clean the gutters,replace the furnace,bring me new appliances and so forth. Met a smart man that lived in an appartment for 20 years. All the money he saved by not owning a house made him a lot of money in the stock market. The statements wallstreetdebunker has made are all right on......smart man.
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
There was an interesting article just before the Arab spring and it showed what those countries spend on food and fuel in some cases it was as high as 70% of income. We have a long way to go. As my uncle in Europe said 7 years ago. He said we will be more like Europe. The cost of there food is same or more than ours and the cost of fuel is more and they make less money. Its a slow process. Jack the fuel up to $4 and bring it back to $3.25 a gallon and everybody's happy. Next take it up to $5 and bring it back to $4 and everybody just accepts it......rinse and repeat. I remember as a kid in the 70's pumping gas at 45 cents and you got eagle stamps or a glass for a fill up. You opened a bank account and they gave you a toaster or blender.....now you pay for them to hold your money. Why .... because that is the new norm for the new generation. They can't relate to how it was, they never seen it and don't know any better. They just accept it and go on. The older generation knows better but are to old to fight it. Perception is reality. These are generational changes. Looking in the mirror every day you don't realize how much older you are till you see pictures of yourself 20 years ago. The new generation thinks home cooked meals are the stuff that is prepackaged and you heat it up in the stove and microwave. Don't mean to make this long....but I remember back in 1974 reading that 30% of cars by such and such a year will be leases....I laughed. I couldn't fathom it....but it is reality now. I also read that in the future they will eliminate money and that it will just be an electronic exchange. Hopefully this won't happen before I die. But you can see it moving ever closer. Govt won't have to worry about you cheating on your taxes much longer. When this happens that's the end. The govt. will be able to shut you down financially to keep you in line. Its tough to have a revolution if you can't raise the funds. Pardon the expression but it will pretty much be.....shut up and keep sucking. As they say getting old isn't for sissies and don't get sick.....good luck.
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
You are correct. But it has taken us 30 years to get here. So when do you think the sheeple will wake up. All I see is the lowering of the bar in America and people who have not been taught how to think for themselves only believe what the media tell them. It appears that most people to me go through life the same way they drive their car.... staring at the hood trying to keep it in the white lines. They have no clue what is way in front of them or on the sides or what is going on behind them. It appears they can barely concentrate on the next thing they need to do. The country is eroding right in front of our eyes and little we can do about it. The end appear inevitable. All I can do is shake my head.....sad. To many people have no clue what integrity is. They just keep slaughtering the sheep. After they are done all they will have to eat is themselves. Or as they say when the poor have nothing to eat they will eat the rich. (Arab spring) I think we will be gone by then. But the future generation will be slaughtered and they will have to fight since most today are to scared and the beast is now too large. I wish you luck, health and joy.
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
The Hammer, Your are correct to a small degree. Me I hate these bastards. They ruined my business. Everything was great till 1995. Then they started with the 3% down stuff and by the early 2000 kicked in 0 down and 125% to value loans and interest only. They hurt my business because everyone and their brother was getting into rehabing property and bidding houses up. Ignorant douch bags that where assisted by wall street and the banks. But planned by the Govt. to drive the economy, since we lost to many jobs and the Govt. lost payroll taxes. They used the property tax as a substitute for payroll taxes they were losing. Unless jobs start coming back to this country I only see bad things down road, like a slow train wreck. Like what happen to Japan. A lot of people think that can't happen here. But what you think and what's reality are two different things. For your info I hate Barney Franks he was part of the problem and not a part of the sollution. This is why I think America has seen its best days. Because there are too many Barneys in Govt.
March Texas Fed Manufacturing Outlook: Business Activity Index 10.8 vs. 17.8 prior. Manufacturing production 11.1 vs. 11.2 prior. New orders -0.3 vs. 5.8. Capacity utilization 12.3 vs. 10.0. Shipments 8.6 vs. 4.2. Employment 21.7 vs. 25.2. [View news story]
Hey like I tell people about the weather.....I'll just look out the window and let you crystal ball guys do the rest. Me I'm still waiting for housing and business to come back and I'll live with things as they are. Who cares what the market is doing. Are you cashing in any stocks, paying taxes. If so your making money if not your paper rich. Which are usually the people who are talking.....those with paper ace holes.
Key to Bernanke's view of the economy is his belief cyclical rather than structural issues are behind the weakness in the labor market. "If this assessment is correct, then accommodative policies to support the economic recovery will help address this problem." S&P 500 +0.6%, Gold +1%, Crude +0.2%, Copper +1.3%. UUP -0.3% premarket. [View news story]
Daaaaaa Of course he is going to have to buy MBS when all those bank owns clear. First sell them cheap to his buddies 10 cents on the dollar then support them wth new MBS so they can sell them. Plus the rumor makes the market go up.S0 is it going to be S&P 1440,1477,or 1525. Don't know don't care. Just looking to buy in when it comes down. It will eventualy....late 2012 or early 2013 who knows maybe somewhere in between. No risk no reward.
"We are finding that homebuyers are no longer expecting home prices to decline further, which is creating some sense of urgency to buy now," says KB Home (KBH) CEO Jeff Mezger. A key reason for the Q1 miss is a "spike" in cancellation rates from customers unable to get mortgages, even those already with full loan approval letters. (h/t Joe Weisenthal) [View news story]
Been in the business for 20 years. I forgot more than what you people think you know. Property is always relative to location. Prices can only be supported by income. Houses use to be worth what one was willing to pay......now worth what the bank is willing to lend or appraise for. Places like Cleveland and Detriot are tearing down causes houseing is beyond utilitarian point. But both are having financial issues because they counted on property taxes. Since loosing industry and they lost payroll tax income all that was left for was sales tax and property tax. This is a big problem for the country and will continue to be one. I like many others found it is better to be self employed and minimize your tax burden....that is less for Govt. and I don't have to deal with their regulations or collecting taxes for them. Prices look better in a lot of areas because there is less foreclosed properties on the market....it makes it look better than what it is. Sales are down and will continue. Remember they jacked the market up with not just low interest rates but the amount of moneythat people put down. They had more buyers with 5%,3%,and 0 down interest. They are still doing it now......I know that is how I have sold my houses in the last 3 years and I always pay the 6% twards buyers closing cost. Appraisals are whats killing me and others. I have had the same house appraise withen a couple monthes for a difference of 30k and in a 100k area that is a lot. I do business in Cleveland suburbs. I can buy nice brick homes with1500 square feet built in the 1950 for 20k. Don't want them. Many are buying them for rentals.....ok if you like chasing your money and having a tenent for 3 months to a year for most. They don't want to mow lawns or pay for utilities and wait till you see the cost for their repairs after they leave.....ha ha ha. I have three more to sell....wish me luck. What is funny is the realtors that are doing short sales are mad because there houses are appraising for more than the sales price and the bank won't do the deal.....I know I'm a former realtor, deal with them all the time. Wait till they put all the back log of houses on the market and see what that does to prices. Housing is relative to location and incomes + condition and what the bank will lend for and cash buys for less. Incomes in America are comming down. Its a world economy. You can make up the rest as you like.
In a twist of irony, Wall Street firms are gearing up for their own little secular bear market just as the rest of the economy regains its footing. As a regulatory tidal wave bears down, the big firms have begun slashing bonuses, laying off workers and getting out of markets they had no business being in the first place. Inevitably, this will mean a squeeze in profits - and a vengeful shareholder. [View news story]
If it wasn't for the banks we would be living like its 1950 or maybe 1850. I could handle it....could you?. Yes, our forefathers been there done that. Life aint fair.......THE BANKS
It's Spain's private sector debt - almost 4X public debt and footing to 220% of GDP - that threatens the country. As Ireland found out, when private debt goes bad it gets foisted onto the public balance sheet, turning solid government finances into national insolvency overnight. "The firewalls of Europe are not high enough to drown out the din of alarm bells ringing in Madrid," writes Vince Cignarella. [View news story]
This problem never existed when there was debtors prison. I'd like to see that come back into fashion.....bell bottoms not so much.
AT&T (T) is quick to say "I told you so" to the FCC over T-Mobile's (DTEGY.PK) job cuts; exec Jim Cicconi writes AT&T promised to maintain the call centers T-Mobile is shuttering. "How's this for tactless?" responds GigaOm's Kevin Fritchard, who's quite skeptical Ma Bell would have held onto all 24 of T-Mobile's call centers in the face of massive redundancies. Update: The FCC responds by asserting the merger would have "resulted in significant job losses." [View news story]
Yea thats all I need is less choices so a few of you putts can have a better stock price. On top of that some of you are complaining that T has foreign competition....like those companies didn't spend any money here or have any employees here. AT&T service and products suck...my personal experience, and from conversations many other peoples experience. As a customer I don't need less choices. As much as I don't care for the government I sure wouldn't want corporations running this country.
Apple (AAPL -0.3%) resumes trading after an apparent "fat finger" sends the shares from near $600 to $542.80, and sets off the stock's circuit breaker. [View news story]
They never talk about my fat finger...its been up for 3 years now and not a word.
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
Thank God for the low interest rates and buyers able to buy with 3.5% and they have programs that allow you to buy even if its not your own money. With a credit score of 600 to 620, if your 640 or over your golden especially if you have your own 3.5% down. The city I live in offers as much as 15k in a second mortgage that only half has to be paid back if your in it longer than 5 years. If you live there for 15 years you don't have to pay it back. I have three more houses to get rid of......I'm keeping my fingers crossed. NO its not your fault Ben.....love ya man.
TrimTabs paints a bearish picture of the U.S. economy, asserting it may be "weaker than government statistics report.” The firm cites wages and salaries, up 3.6% but only 0.7% when adjusted for inflation; steady initial unemployment insurance claims, implying “the unemployment rate is unlikely to fall significantly"; and further weakness in Case-Shiller housing data. [View news story]
Despite new laws aimed at reforming the financial system, the largest U.S. banks remain a threat to stability and should be broken up, Dallas Fed's Richard Fisher says. The big banks "significantly hamper the Federal Reserve's ability to properly conduct monetary policy... their presence continues to play an important role in prolonging our economic malaise." (pdf) [View news story]
AT&T (T) is quick to say "I told you so" to the FCC over T-Mobile's (DTEGY.PK) job cuts; exec Jim Cicconi writes AT&T promised to maintain the call centers T-Mobile is shuttering. "How's this for tactless?" responds GigaOm's Kevin Fritchard, who's quite skeptical Ma Bell would have held onto all 24 of T-Mobile's call centers in the face of massive redundancies. Update: The FCC responds by asserting the merger would have "resulted in significant job losses." [View news story]
"We are finding that homebuyers are no longer expecting home prices to decline further, which is creating some sense of urgency to buy now," says KB Home (KBH) CEO Jeff Mezger. A key reason for the Q1 miss is a "spike" in cancellation rates from customers unable to get mortgages, even those already with full loan approval letters. (h/t Joe Weisenthal) [View news story]
Met a smart man that lived in an appartment for 20 years. All the money he saved by not owning a house made him a lot of money in the stock market. The statements wallstreetdebunker has made are all right on......smart man.
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
As they say getting old isn't for sissies and don't get sick.....good luck.
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
I wish you luck, health and joy.
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
Your are correct to a small degree. Me I hate these bastards. They ruined my business. Everything was great till 1995. Then they started with the 3% down stuff and by the early 2000 kicked in 0 down and 125% to value loans and interest only. They hurt my business because everyone and their brother was getting into rehabing property and bidding houses up. Ignorant douch bags that where assisted by wall street and the banks. But planned by the Govt. to drive the economy, since we lost to many jobs and the Govt. lost payroll taxes. They used the property tax as a substitute for payroll taxes they were losing. Unless jobs start coming back to this country I only see bad things down road, like a slow train wreck. Like what happen to Japan. A lot of people think that can't happen here. But what you think and what's reality are two different things. For your info I hate Barney Franks he was part of the problem and not a part of the sollution. This is why I think America has seen its best days. Because there are too many Barneys in Govt.
March Texas Fed Manufacturing Outlook: Business Activity Index 10.8 vs. 17.8 prior. Manufacturing production 11.1 vs. 11.2 prior. New orders -0.3 vs. 5.8. Capacity utilization 12.3 vs. 10.0. Shipments 8.6 vs. 4.2. Employment 21.7 vs. 25.2. [View news story]
Key to Bernanke's view of the economy is his belief cyclical rather than structural issues are behind the weakness in the labor market. "If this assessment is correct, then accommodative policies to support the economic recovery will help address this problem." S&P 500 +0.6%, Gold +1%, Crude +0.2%, Copper +1.3%. UUP -0.3% premarket. [View news story]
Of course he is going to have to buy MBS when all those bank owns clear. First sell them cheap to his buddies 10 cents on the dollar then support them wth new MBS so they can sell them. Plus the rumor makes the market go up.S0 is it going to be S&P 1440,1477,or 1525. Don't know don't care. Just looking to buy in when it comes down. It will eventualy....late 2012 or early 2013 who knows maybe somewhere in between. No risk no reward.
"We are finding that homebuyers are no longer expecting home prices to decline further, which is creating some sense of urgency to buy now," says KB Home (KBH) CEO Jeff Mezger. A key reason for the Q1 miss is a "spike" in cancellation rates from customers unable to get mortgages, even those already with full loan approval letters. (h/t Joe Weisenthal) [View news story]
In a twist of irony, Wall Street firms are gearing up for their own little secular bear market just as the rest of the economy regains its footing. As a regulatory tidal wave bears down, the big firms have begun slashing bonuses, laying off workers and getting out of markets they had no business being in the first place. Inevitably, this will mean a squeeze in profits - and a vengeful shareholder. [View news story]
It's Spain's private sector debt - almost 4X public debt and footing to 220% of GDP - that threatens the country. As Ireland found out, when private debt goes bad it gets foisted onto the public balance sheet, turning solid government finances into national insolvency overnight. "The firewalls of Europe are not high enough to drown out the din of alarm bells ringing in Madrid," writes Vince Cignarella. [View news story]
AT&T (T) is quick to say "I told you so" to the FCC over T-Mobile's (DTEGY.PK) job cuts; exec Jim Cicconi writes AT&T promised to maintain the call centers T-Mobile is shuttering. "How's this for tactless?" responds GigaOm's Kevin Fritchard, who's quite skeptical Ma Bell would have held onto all 24 of T-Mobile's call centers in the face of massive redundancies. Update: The FCC responds by asserting the merger would have "resulted in significant job losses." [View news story]
T has foreign competition....like those companies didn't spend any money here or have any employees here. AT&T service and products suck...my personal experience, and from conversations many other peoples experience. As a customer I don't need less choices. As much as I don't care for the government I sure wouldn't want corporations running this country.
Apple (AAPL -0.3%) resumes trading after an apparent "fat finger" sends the shares from near $600 to $542.80, and sets off the stock's circuit breaker. [View news story]
The Fed's actions were not responsible for the housing bubble, says Ben Bernanke in lecture #2 on the history of the Fed that is instead turning into a defense of a generation of easy money policies. Today's talk also includes a pat on the back for Greenspan for achieving economic stability. "Depends on what the meaning of 'stability' is," snipes Caroline Baum. [View news story]
NO its not your fault Ben.....love ya man.