A fellow loses his job; he can’t pay his mortgage. The house goes onto the market and pushes down prices. Prices in California are off 30% year-to-year, with the median house at $267,000. In Las Vegas, the median house is only $135,000…
June 29th, 2009 | Bill Bonner | 3 comments | ContinuedAll Posts Tagged With: "ford"
The Chinese Stimulus Plan to Save the World
And if you ask Jim Cramer, “the Chinese are pulling everyone out,” with their stimulus plan. Cramer and CNBC host Erin Burnett tripped all over each other’s lines trying to out-praise the significance of Chinese buying.
May 1st, 2009 | Dan Denning | 1 comment | Continued
Wall Street Snubs Obama
The man who got the warmest welcome ever from the press and the public got the rudest brush off from Wall Street. It was the worst sell-off for an Inauguration Day in history. The Dow fell 332 points. Oil traded around $40. The dollar strengthened…to $1.28 per euro. O! Bama! Where is thy bounce? Perhaps it is already over…
January 22nd, 2009 | Bill Bonner | 4 comments | Continued
Budget Deficits Are Back in Fashion
That Axis advocated running a capital account surplus. It was partly to offset the rising current account deficit. But in some ways, the surplus in the capital account came about because of policies that encouraged debt and consumption, the very things that led to the current account deficit. The result was a boom in American financial services-while American manufacturing was shipped offshore…
November 20th, 2008 | Dan Denning | 0 comments | Continued