Nov 5 2009
If Incomes are Down, Where is the Economic Spending coming from? Industrial Production Still Lower, Credit Contraction, and Average Work Week at Record Low. Wells Fargo Considering Converting Option ARMs to Interest Only Loans.
With 8 million jobs lost in this great recession, it is rather surprising to see so many people enter into a deep capture mode of believing in a quick and efficient recovery. If we look at data in the misery index, the average American has a hard time swallowing the jagged economic recovery pill. They [...]
Sep 20 2009
The Art of Strategic Mortgage Defaults: The Coming Wave of Foreclosures in California. 588,000 People Nationwide Stop Paying Their Mortgage Even Though they had Funds to Pay.
Throughout the current housing crisis, most of the negative economic data has been clumped into one large group. That is, housing has been a nationwide problem and job losses have impacted virtually every state. Yet there is a coming crisis that has its targets on very specific states. In fact, many states will not even [...]
