Apr 6 2008
Money Markets, CDs, 401ks, and Savings Accounts that Lose Against Inflation: A Society that Punishes Savers.
One of the unintended consequences of this housing market is the punishment conservative savers are taking. Last month we had the rather astonishing release of data from the Bureau of Labor and Statistics telling us for the month, that inflation was at 0 percent. As disconnected as this is from reality, there is […]
Apr 2 2008
$231 Billion in Writedowns and Credit Losses: The List of Mortgage Players Grows Larger.
Yesterday UBS AG said it would write down a staggering $19 billion on assets connected to mortgage assets. The figure is staggering yet the market rallied nearly 400 points on this news. Have we reached a turning point where writedowns simply do not matter? This figure was the largest since the writedowns […]
