Almost two-thirds of Americans say a recession is likely in the next year and a majority believes the economy is already faltering, according to a Bloomberg/Los Angeles Times survey. That means that holiday spending…
According to The New York Times "economists say the troubles in the mortgage market could, all told, cost financial firms and investors up to $400 billion." The figure includes losses in home values and…
Astoday is the 20th anniversary of the 1987 stock market crash, 24/7 WallSt. wanted to go back in time to review how the individual DJIAcomponents held up around the time and how they have…
As today is the 20th anniversary of the 1987 stock market crash, 24/7 Wall St. wanted to go back in time to review how the individual DJIA components held up around the time and…
Workers in industries that are not doing well usually get laid off. But, it is not a good omen when workers in robust sectors of the economy are losing their jobs. Countrywide (CFC) has…
Minutes of the Federal Open Market Committee from the September 18, 2007 meeting that were released October 9, 2007…. We glanced over the notes and here are some quick standout comments: Unanimous on decision…
Leave it to the Australians. According to Reuters, "one of Australia’s biggest banks, the Commonwealth Bank, has used the latest version of Apple’s (AAPL) music player — the slimline 4GB Nano — to compare…
GM (GM) cut advertising 28% in the first half of the year. The FT writes that Nielsen Monitor reports "overall spending in the first half of the year fell by 0.5 per cent with…
When the sleigh and reindeer land on roofs across American this holiday, the gift bag will be filled with home heating oil and mortgage bills. Santa is bringing a recession for Christmas. According to…
Low interest rates and low energy costs. That’s the ticket. Get both in place and the economy will roar ahead. Unfortunately, the Fed’s cut in interest rates may be the most important factor in…
Today was the planned FOMC decision on interest rates and it seems there was a split between those looking for 25 or 50 basis points. We were in the latter group, or at least…
Almost 700 homes in foreclosure will be auctioned off in Detroit later this month. Most of the buyers will probably be investors who have no intention of ever moving in. The homes will go…
Oil traded above $78 today. Explosions on Mexican pipelines and a tight-fisted OPEC has driven prices higher. An unstable government in Nigeria and an equally unstable president in Venezuela have not helped. And consumption…
Challenger, Gray & Christmas says that announced lay-offs rose 85% from July and August, driven by job cuts in the financial and mortgage brokerage industries. Financial job cuts totaled 35,752 in August, the highest…
George Bush promised to do his best. And, that was the main message in his speech on the troubles in the sub-prime market. The address was not even long on promises. Congress will work…