Housing seems to be reaching a tipping point in perceptions anyway; it is tough to see when it will play out. With money falling from the sky, the govt (via Fannie May) willing to take on loans up to $729,750, and the Fed on track to keep lowering interest rates, this all seems a bit …
Tag Archives: economics
Cars and instant gratification
The LA Times exposes some of the craziness that is going on with auto financing these days in New cars that are fully loaded — with debt When Jennifer and Bobby Post traded in their 2001 Chevy Suburban last year for a shiny new Ford F-350 turbo diesel with an extended cab, it seemed like …
Bailouts
This makes my blood boil: Bush to outline 5-year rate freeze plan “…sources, who are familiar with details of the trade group’s pitch, said the plan envisions covering subprime loans taken out between January 1, 2005, through the end of this past July, with rates that are due to reset over the coming 2-1/2 years. …
Energy assumptions
Jim Kunstler’s latest post is typically inflammatory, but definitely makes for some good reading: The price of oil is up 53 percent over a year ago, creeping up now toward the mid-$90-range. The news media is still AWOL on the subject. (The New York Times has nothing about it on today’s front page.) The dollar …
Greenspan is late to the party
The WSJ has an overview of Greenspan’s new book. Currently making headlines is his criticism of Bush & the Republicans: Mr. Greenspan, who calls himself a “lifelong libertarian Republican,” writes that he advised the White House to veto some bills to curb “out-of-control” spending while the Republicans controlled Congress. He says President Bush’s failure to …