Apr 28 2009

California Loan Modification Scams: Kicking the Financial Can Down the Road. SB 1137 and SBX2 7. Mortgage Cram-Downs Stripped from Rescue Bill. Loan Mods that make your Payment go up.

In another chess move to reward banks and fleece the American public, cram-down legislation was stripped out of the new rescue bill.  This is significant since this was one of the keystones in the new housing agenda.  Yet the banking oligarchy wasn’t pleased with this legislation and applied pressure via lobbying to get this piece […]

Apr 26 2009

20,000 Americans Lose Their Job Each day but we Still Bailout Wall Street and Banks: 4 Charts Highlighting this Historical Financial Crisis. GDP, Inflation, Industrial Production, and Excess Reserves.

Four banks and one credit institution failed on Friday.  This is now becoming a common Friday ritual.  On February 13 four banks were also taken over by the FDIC.  Multiple bank failures on one day are now growing in size.  Yet the FDIC is quickly blazing through their insurance fund and soon, the taxpayer is […]

Apr 22 2009

10 Charts Showing a Prolonged Global Recession: Credit Markets, Housing, and Equity Markets point to Lengthy Economic Contraction.

The IMF came out with a global report on the economy in October of 2008.  Since that time, the global economy has deteriorated even further and the IMF has issued another report.  I went ahead and looked at both documents and from what is presented, there is very little reason to believe we will see […]

Apr 19 2009

Credit Cards and Auto Loans: $2.5 Trillion Outstanding Consumer Debt. If you can’t find a Qualified Borrower or Buyer still lend the Money.

One of the many problems that led up to the economic crisis was easy access to debt.  This included easy access to home loans, auto loans, and credit cards.  You would have a hard time finding a reputable source that would argue otherwise.  Yet in the latest release of consumer credit data from the Federal […]

Apr 16 2009

Why There will be no other Bubble to Save us from this 40 Year Financial Bubble: From Manufacturing, Technology, and Financial Services. Real Estate Bubble. Drop in Corporate Tax Receipts.

This recession is already the longest since the Great Depression.  Now merely saying that this recession is the longest does not expose the magnitude and depth of the economic damage inflicted on the market.  $11.2 trillion has been wiped off the balance sheet of American households.   In this article I want to examine a few […]

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