Here’s a brief roundup of a bunch of noteworthy items that have popped into my inbox and RSS feeds in the last day or two. Aubrey Cohen: Current economic woes more like 1873 than 1929. “When commentators invoke 1929, I am dubious,” writes Scott Reynolds Nelson, a professor of history at the College of William…
Month: October 2008
Party Like It’s 1929: Bailout Passes House
It’s official: Congress is not interested in addressing the underlying issues that caused this mess. Instead, they would rather pour trillions of dollars we don’t have into a doomed attempt to maintain the broken status quo. I predict we’ll be repeating this whole routine in less than six months with a new bailout, after these…
Forbes: Seattle is #1
Good news everyone! Seattle is at the top of another one of Forbes’ famous lists! Hardest And Easiest Places To Sell A Home As the dismal U.S. housing market slides further downhill—home prices in July posted a 16.3% annual drop—some sellers are unloading their homes to bargain-hunters. But in cities like Seattle, Jacksonville, Fla., and…
Seattle Times: “Sellers are Growing Desperate”
An article in today’s Seattle Times goes nicely with Mr. Cohen’s article in the P-I a couple days ago. More sellers are growing desperate as homebuying stalls locally I especially like the first part of the subtitle text (emphasis mine): The Puget Sound area housing market, supposedly immune to the forces pulling down others across…
Get Ready to Bail Out (I Mean “Rescue”) Foreign Investors
Long-time Seattle Bubble commenter Eleua points out a particularly disturbing portion of the version of the bailout that the Senate is set to vote on tonight: SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS. The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar…