Congress agreed to pour an additional $2,000,000,000 into the cash credit toward an overpriced new car for clunkers program this week, with various pundits praising the program as a rousing success. Meanwhile, industry professionals point to the $8,000 tax credit for first-time homebuyers as a major factor behind the recent increase in home sales. One…
Category: Economy
Economic news, statistics, and commentary
An Overview of the Housing/Credit Crisis
A couple people forwarded me a link to a 116-page pdf titled An Overview of the Housing/Credit Crisis And Why There Is More Pain to Come that is worth checking out. Here’s a look at the table of contents: Overview of the Great Mortgage Bubble Causes of the Great Mortgage Bubble Consequences of the Bursting…
Declines in Home Prices & Consumer Spending are GOOD THINGS
I read a great post today over at Behavior Gap (thanks to an email from J.D. @ Get Rich Slowly) that is definitely worth sharing: The Great Reset A recent New York Times headline read: “Consumers Increase Savings While Spending Less” That sounds like a GOOD thing doesn’t it? It used to be that savings…
Seattle Economy Maybe Not So Isolated After All
Here are a couple of recent stories to drive home the point that the Seattle area economy is not in fact magically separate from the national/international economy, as some have made it out to be over the last few years. Brad Wong, Seattle P-I: Tough economy forces cutbacks for area residents The economic shocks to…
Poll Update: Dow Drops Below 10,000
Anybody remember the June 8 poll: Sorry to say, but 58% of you were wrong: That took less than 4 months, for those of you keeping score at home. Also note the July 13 follow-up, in which only 30% guessed incorrectly. I just thought I’d point this out to those that are accusing this site…