May 13 2010

California state budget and fiscal year problems assure a weak housing market and poor employment conditions for another fiscal year. $3 billion miss in April tax revenues, selling electronic freeway ad space, and 80 percent of income from volatile sources.

The state of California is entering the new fiscal year budget wrangling period.  What the legislature in Sacramento was hoping for in April with generous tax revenues actually turned out to be an absolute bust.  The California housing bubble bursting is still having deep ramifications for the future of the state.  Unfortunately what we are […]

May 11 2010

The ambiguous financial state of housing – 3 issues repeating the housing bubble mistakes; Real estate psychology, down payments required, and bring back lending responsibility to immediate areas.

The overwhelming evidence of what went wrong to create the housing bubble is irrefutable.  It is clear that allowing buyers to purchase a home with little to no documentation was a bad idea.  So why continue doing this today?  It was abundantly obvious that zero down or low down mortgages was a recipe for disaster.  […]

May 9 2010

The retirement myth – 1 out of 3 Americans has no savings or retirement account. Half of Americans have $2,000 or less in their retirement account. 401k new name for Wall Street grease.

Middle class Americans are witnessing the conversion of their retirement accounts into gambling pots used by Wall Street.  The metamorphosis of Wall Street into one giant fraud ridden center moved by investment banking funds has slowly occurred over the last four decades.  Average Americans have sat back over these years since they were given enough […]

May 7 2010

FDIC backing 8,000 banks with $13 trillion in assets and a negative deposit insurance fund. FDIC survey finds millions of U.S. households are underbanked. Too big to fail banks add branches and grow even bigger.

The FDIC has a big problem on its hand.  Some would say it is a too big to fail problem.  The Federal Deposit Insurance Corporation looks over 8,000+ banks and protects the deposits at these banks.  Yet this seemingly large number is merely a front for where the assets are congregated.  The top 4 banks […]

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