That’s what the so-called “financial crisis” of 2008 has cost the federal government directly… so far.* Wonder how that stacks up to other crises? CNBC has a slideshow showing the costs (inflation-adjusted) of some of the biggest government projects ever. There are many events not listed in that slide show, of course. Two of the [...]
It’s the best one-image summary of why the Detroit Three are in such hot water, and it’s on Michigan economist Mark Perry’s blog. (h/t Greg Mankiw).
Elliott Wave International asks, “Are stocks really a bargain?” If you believe your eyes, the answer is pretty clear. P.S. In case you were wondering what the current DJIA dividend yield is (click the link above to see why this is relevant), you can see that here.
Let’s all hope this, at least, does not repeat. It’s a miracle the American Dream has survived this long.
Not Everyone Should Own a Home. Amen. What the Australians, the Europeans, and those who actually have to make their living in banking all get is that many, many people lack the means and others the responsibility to own their own homes. What was lacking in the run-up to the current bubble was not regulation. [...]
I have nothing against credit card companies or other commercial lenders. They provide a valuable service at the rates (prices) the free market will bear, and that’s a good thing. That said, I am sometimes amazed at some of the great deals a credit card company will offer me. Like the cash-back program one credit [...]
During the Republican debate at the Reagan Library, John McCain was asked: [Do] you have a plan to help people with bad credit get lower interest rates so they can keep those homes and avoid foreclosure[?] Any answer to that other than “No,” “What?”, or “Why?” demonstrates a misunderstanding of how we got to where [...]
I had a problem with a credit card, earlier (a technical glitch on a modem apparently freaked out the bank’s anti-fraud system). So, I had to call the customer service number. “Cynthia,” whom I am pretty sure was in Mumbai or some such place and who barely speaks any English, proceeded to explain that there [...]
New home sales fell by five percent in January, while the supply of new homes available for sale hit a nine-year high. Could this be the beginning of the housing bubble burst?
EWI is hosting another Free Week, this time on their Specialty Services, meaning you can get free, intraday forecasts for the DOW, S&P 500, and NASDAQ. From EWI: Specialty Services US Stocks Forecasts Free Week at elliottwave.com is live until Wednesday, February 15, at 5 p.m. EST! That means that they’re giving you, your friends, [...]
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