rmptr
Silver Member
Today's economic blue news
It was perhaps 8 months ago, here upon Tnet that I contributed to the growing political/financial discussion upon the board, as it became increasingly apparent all our hobbies including metal detecting would be more influenced by the economy. Rising cost of fuel was readily apparent.
Coming from the fading construction industry, I felt every bit of the housing downturn, and resulting burst of the bubble.
At that time, foreclosures were approaching 2% and a number of those who scoffed at my concern simply felt those defaulting were deadbeats and slackers not worthy of home ownership. Not too much later it became obvious the problem was not only in the sub-prime loans, but there was a corresponding rise in Alt-A loans.
This, was posted by Reuters today... Five time increase in the percentage at that time!
..
More than 11% of all mortgages are either delinquent or in foreclosure, according to an industry report released Thursday. One in 8 US homeowners late paying or in foreclosure.
..
Even though I've been called henny penny, I can't help but present clips as I find them in common news presentations.
..
More than 600000 Americans filed claims for jobless benefits for a fifth straight week, the worst performance since 1982, pointing to a deteriorating job market that may deepen.
..
It certainly doesn't appear as though there will be a turnaround any time soon.
..
NEW YORK (Reuters) - One dollar could buy a cup of coffee, a pack of chewing gum, or a roll of bathroom tissue.
For the first time, it could also buy a share of Citigroup Inc (C.N), once the world's largest bank by market value.
..
Even within the iconic heart of our domestic oil and gas industry, the problems are now obvious to all.
..
New figures from the Texas Workforce Commission show unemployment is continuing to rise in the Houston-Sugar Land-Baytown area. According to the report released Thursday, 183000 people in the area were without jobs in January - an unemployment rate of 6.5%
..
Obviously some people will always do better than others, but eventually the news of their illicit performance does get out to the general public. It creates waves of dissent that can obviously crash even a large conglomerate.
..
NEW YORK (Reuters) - Bank of America Corp (BAC.N) said it could suffer "grave harm" if it is forced to reveal data about an estimated $3.6 billion of bonuses paid to Merrill Lynch & Co officials in the days before the bank acquired the brokerage.
..
We can make note that govt regulations remain hostile to our own best interests.
..
AP DES MOINES, Iowa: Interstate Power and Light on Thursday canceled plans for a $1.8 billion coal-fired power plant in Marshalltown, citing the economy and uncertainty over state regulations.
..
It should come as no surprise when the unemployed do not purchase goods and services.
..
Demand for US-made factory goods fell for the sixth straight month in January, dropping 1.9% on weakness in durable goods orders, the Commerce Department reported Thursday.
..
Here's a mid-day for March 5th, 09, which we'll probably look back upon as the good old days!
GM 1.82 -0.38 (-17.27%)
F 1.87 0.00 (0.00%)
CTX 5.43 +0.10 (1.88%)
BAC 3.22 -0.37 (-10.31%)
C 1.00 -0.13 (-11.50%)
Today, giant GM is trading within a nickel of Ford, CTX is a Dallas based national homebuilder I have a particular interest in because I can recall when their employees were so pleased when shares climbed from $50/share to $75 during the boom I participated in.
I think both BofA and Citi are goners.
Not too hard reading the writing on the wall, yet trying to make sense of it and set an appropriate course to best deal with the coming days/ months/ years is somewhat more difficult.
...Always looking for solutions...
Best,
rmptr
It was perhaps 8 months ago, here upon Tnet that I contributed to the growing political/financial discussion upon the board, as it became increasingly apparent all our hobbies including metal detecting would be more influenced by the economy. Rising cost of fuel was readily apparent.
Coming from the fading construction industry, I felt every bit of the housing downturn, and resulting burst of the bubble.
At that time, foreclosures were approaching 2% and a number of those who scoffed at my concern simply felt those defaulting were deadbeats and slackers not worthy of home ownership. Not too much later it became obvious the problem was not only in the sub-prime loans, but there was a corresponding rise in Alt-A loans.
This, was posted by Reuters today... Five time increase in the percentage at that time!
..
More than 11% of all mortgages are either delinquent or in foreclosure, according to an industry report released Thursday. One in 8 US homeowners late paying or in foreclosure.
..
Even though I've been called henny penny, I can't help but present clips as I find them in common news presentations.
..
More than 600000 Americans filed claims for jobless benefits for a fifth straight week, the worst performance since 1982, pointing to a deteriorating job market that may deepen.
..
It certainly doesn't appear as though there will be a turnaround any time soon.
..
NEW YORK (Reuters) - One dollar could buy a cup of coffee, a pack of chewing gum, or a roll of bathroom tissue.
For the first time, it could also buy a share of Citigroup Inc (C.N), once the world's largest bank by market value.
..
Even within the iconic heart of our domestic oil and gas industry, the problems are now obvious to all.
..
New figures from the Texas Workforce Commission show unemployment is continuing to rise in the Houston-Sugar Land-Baytown area. According to the report released Thursday, 183000 people in the area were without jobs in January - an unemployment rate of 6.5%
..
Obviously some people will always do better than others, but eventually the news of their illicit performance does get out to the general public. It creates waves of dissent that can obviously crash even a large conglomerate.
..
NEW YORK (Reuters) - Bank of America Corp (BAC.N) said it could suffer "grave harm" if it is forced to reveal data about an estimated $3.6 billion of bonuses paid to Merrill Lynch & Co officials in the days before the bank acquired the brokerage.
..
We can make note that govt regulations remain hostile to our own best interests.
..
AP DES MOINES, Iowa: Interstate Power and Light on Thursday canceled plans for a $1.8 billion coal-fired power plant in Marshalltown, citing the economy and uncertainty over state regulations.
..
It should come as no surprise when the unemployed do not purchase goods and services.
..
Demand for US-made factory goods fell for the sixth straight month in January, dropping 1.9% on weakness in durable goods orders, the Commerce Department reported Thursday.
..
Here's a mid-day for March 5th, 09, which we'll probably look back upon as the good old days!
GM 1.82 -0.38 (-17.27%)
F 1.87 0.00 (0.00%)
CTX 5.43 +0.10 (1.88%)
BAC 3.22 -0.37 (-10.31%)
C 1.00 -0.13 (-11.50%)
Today, giant GM is trading within a nickel of Ford, CTX is a Dallas based national homebuilder I have a particular interest in because I can recall when their employees were so pleased when shares climbed from $50/share to $75 during the boom I participated in.
I think both BofA and Citi are goners.
Not too hard reading the writing on the wall, yet trying to make sense of it and set an appropriate course to best deal with the coming days/ months/ years is somewhat more difficult.
...Always looking for solutions...
Best,
rmptr
