During the 15-year period between 1992 and 2007 American homeowners increased the total amount of their housing debt from $2.8 trillion to $10.2 trillion, almost a three-fold increase of $7.4 trillion! This increase in housing debt was greater than the increase of the better known National Debt, which went from $4.1 trillion to $9 trillion during the same time period.
interest rates's archives
Mortgage-Backed Securities: Where We Went Wrong
Swift Wits: Insurance Premiums Will Drop 3000 Percent!
According to Bloomberg, Ben Bernanke and the Federal Reserve have pledged “to keep the main interest rate near zero for an “extended period” and confirmed that emergency measures to prop up the housing market will end as planned this month.”
under: Complete Whimsy, Federal Reserve, Obama Says
Tags: Barack Obama, ben, Ben Bernanke, Bloomberg, China, Chris Dodd, Consumer Financial Protection Agency, Fannie Mae, Freddie Mac, George Bush, gold, health insurance, healthcare reform, IMF, India, inflation, insurance premiums, interest rates, Larry Kudlow, Lewrockwell.com, Nancy Pelosi, stimulus package, too big to fail doctrine
Where is Crude Oil Headed in 2010?
Economic forecasts are a funny thing. If they attempt to project anything beyond the short-run (one year), be very skeptical. But short-run forecasts are not iron-clad either. I have a great time on this site making fun of economists and their predictions. Guessing what the intricate convergence of millions, if not billions, of different economic agents and their decisions will be, is kind of an exercise in futility. So if I were to predict what crude oil will do in 2010, I’d give you some markers to help you make your own decision long before I took a specific barrel price and defended the position.
Swift Wits: Savers Get Stung, Pay Czar Tackles AIG and Real Estate Keeps Deflating
As of today, few things would be less appealing in your portfolio then dollars. As the Federal Reserve pours liquid-ity into the economy through TARP, stimulus and bailouts, and the Federal Government runs record deficits, interest rates stay artificially low. Depressingly low. In fact, a quick surf of Bankrate.com tells me the highest yielding money market account currently available (MMA) is 1.81%, while the average yield comes in at a whopping 1.113%. (1) That means if a person has $20,000 of hard earned money stuffed away in a MMA, he or she will earn roughly $30/month in taxed income. Nice.
under: Deficits, Dollar, Federal Reserve, Individual v. Collective, Live and Learn, Taxes, Treasury, Trust
Tags: AIG, bailout, Bretton Woods, Deficits, Dollar, Federal Reserve, interest rates, Kenneth Feinberg, money supply, paradox of thrift, real estate deflation, real estate tax credit, Saving, social security, stimulus, Treasury
Playing the Real Estate Game
For us normal folks, looking to purchase an owner occupied residence, or perhaps an investment home, when is a good time to buy? According to realtor commercials, always; commissions as primary income are strong incentives in any market. If you did buy a home in the last three years, you realize, it was not a great time to buy.
For a great new home, I say start at the markets that have been hit the hardest.
Write Your Local Representative…OK, I Will
It’s hard to have any sympathy for Tim Geithner. The man was president of the New York Federal Reserve Bank and director of the Policy Development and Review Department for the International Monetary Fund. Learn how to do your taxes and work TurboTax or better yet, you’re not 22 anymore with no assets or responsibility; get an accountant.
under: Deficits, Dollar, Federal Reserve, Obama Says, Taxes, Treasury, Trust, Uncategorized
Tags: Alan Greenspan, Barack Obama, Ben Bernanke, budget deficit, Charlie Rangel, Deficits, Federal Reserve, fiscal policy, interest rates, IRS, monetary policy, money supply, tax evasion, Tim Geithner, Treasury, U.S. credit rating
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