tagged w/ Economic Fears
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One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.
U.S. unemployment in April reached its highest rate in more than a quarter century and is still rising, helping propel mortgage delinquencies and foreclosures to record highsOne of eight U.S. households with a mortgage ended the first quarter late on loan... more
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This isn't my video, I just want to share this. Please share this with others! The people of America must stand up and take hold of our own destinies.This isn't my video, I just want to share this. Please share this with others!... more
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In 2008, sales transactions closed on 3,283 residential properties in Monterey County, according to the Monterey County Association of Realtors.
But the pace of foreclosure filings during that same 12-month period outpaced home sales by nearly 2-1. In all, 6,420 homeowners in Monterey County received a foreclosure notice sometime during 2008, according to RealtyTrac, an Irvine-based company which tracks the foreclosure market.
Those numbers represent an increase of 154 percent for Monterey County last year compared to 2007. It is also 4.63 percent of the countyÕs housing units, pushing the county into 13th place out of the state's 58 counties for foreclosure filings statewide.
In 2007, foreclosure notices went outIn 2008, sales transactions closed on 3,283 residential properties in Monterey County,... more
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In this brilliant article Rafeeq brings to the fore what any of us should know as obvious if we think about it and Madoff has deceived us all twice. There is no way that so many people and so many institutes, banks and pension funds would have invested billions with Madoff with absolutely zero oversight or prior investigation.
The more likely scenario is that is hedge fund went bust as are up to 30% of hedge funds are expected to do so. But by pleading guilty, the entire corrupt and criminal system has gone along with his deceit and accepted. It means that the tax payer will ultimately be bailing out these losses. Expect more "frauds" like Madoff to be come to light and the CEOs to strangely plead guilty because they now all want to get on the bailout gravy train.In this brilliant article Rafeeq brings to the fore what any of us should know as... more
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As we have been saying, media and experts have been insisting to us of the mutually reinforcing feedback loop of falling demand=falling prices centered on a global deflation theme.
But, we have been getting additional evidence of the obverse side, falling prices=falling supply!
This makes the entire episode a race to the bottom.
Airline tickets just got a lot more expensive and frequent flyer miles halved in value.
Food prices continue to soar.
Taxes remain fixed while service3s are being drastrically reduced.
What is your definition of inflation?As we have been saying, media and experts have been insisting to us of the mutually... more
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CBS report or non-report since no one seems to know where out hard earnred money is going.
It's all right there in black and white in the text of the bailout bill passed last month, yet the public may feel like victims of a bait and switch.
The original idea: Spend $700 billion in tax dollars to buy troubled mortgage-related assets from struggling banks.
But the actual bailout calls for nothing of the sort. Instead, your tax dollars are buying massive shares in some of the nation's biggest and most successful banks - with virtually no strings attached. And that's all allowed under Congress' plan, CBS News investigative correspondent Sharyl Attkisson reports.
And to listen to government officials, you'd have thought all those billions were among the most carefully-tracked pool of tax dollars ever.
"We put in place tremendous regulatory oversight so that there will be absolute transparency," said Sen. Judd Gregg, R-N.H., on Oct. 1.CBS report or non-report since no one seems to know where out hard earnred money is... more
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Stocks fell steeply Thursday, with concerns about the economy returning to the fore as rising jobless claims and plunging factory orders offset hopes that the $700 billion financial-bailout plan will pass Congress after being approved by the Senate. Stocks fell steeply Thursday, with concerns about the economy returning to the fore as... more
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