economic news: Economic and real estate recap! - 11/07/08 05:27 PM
Economic Recap:
Pending home sales for September dropped 4.6%, worse than expected.
Showing extremely weak numbers, total domestic light vehicle sales came in at 7.7 million annual unit sales. This the lowest since the recessionary times in the early 80s. The car rate of 3.9 million is the lowest … (0 comments)
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economic news: G-7 Meets.....What's Next? - 10/11/08 01:07 AM
Group of Seven finance chiefs, vowed to do whatever was necessary to prevent the collapse of major banks.
The policy makers included representatives from the U.S., Japan, Germany, U.K., France, Canada and Italy.
The G-7 policy makers were under pressure to roll out new policies, but they came up short on … (3 comments)
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economic news: Economic Update - 10/09/08 06:39 PM
A couple of things are clear, many people have lost confidence in the financial system and this is not just a U.S. problem as the aftermath of this financial crisis is being felt around the world.
Federal Reserve Chairman Ben Bernanke brokered the broadest coordinated interest rate cut in … (2 comments)
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economic news: Economic Update! - 10/01/08 01:45 PM
Senate is set to vote tonight on an amended bailout bill, which includes temporarily raising the FDIC deposit insurance to $250k and continuing some tax breaks for corporations and individuals. Apparently some in the House are working on an amended bill as well. No House vote is scheduled yet.
… (0 comments)
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economic news: Economic Update! - 10/01/08 01:35 PM
Senate is set to vote tonight on an amended bailout bill, which includes raising the FDIC deposit insurance to $250k and continuing some tax breaks for corporations and individuals. Apparently some in the House are working on an amended bill as well. No House vote is scheduled yet.
The … (0 comments)
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economic news: A perspective on our current....well......financial mess! - 09/29/08 11:52 PM
The severity of the state of our credit markets, should be a wake up call for anyone who has not yet made the time to get educated on what’s been going on in our financial markets, today and over the last 20 years.
Understanding the speculation that led to … (6 comments)
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economic news: Economic Day In Review..... - 09/22/08 05:17 PM
It's clear that the optimism from last Friday has quickly given way to a no confidence vote for Treasury Secretary Paulson's plan.
Today's highlights:
The Dow was down by 372.75 points but the big story is gold rising by $40 and oil rising by $15 per barrel to close at … (5 comments)
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economic news: Economic And Housing Round Up - 09/19/08 12:08 PM
To say that it’s been a crazy week is a gross understatement. Let’s recap some items:
U.S. takes over AIG with a $85 billion bailout. This agreement states that the government is providing AIG with a loan $85 billion over a two year period, offered at 11.5%. The government also gets … (0 comments)
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economic news: Economic Round Up and Burbank Real Estate - 09/16/08 07:49 PM
The Federal Reserve left rates unchanged today, at 2% for the key benchmark, a surprise to some, but while they noted that the financial markets are under more strain with the credit crisis,they cited labor worries and inflation as their top concerns. Providing liquidity for the markets is high on … (1 comments)
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economic news: Economic News And Impacts On Burbank And San Fernando Valley Real Estate - 09/14/08 02:38 PM
Former Federal Reserve Chairman Alan Greenspan, who served as Fed Chairman for 18 years, said this financial crisis will probably lead to the failure of more firms. He went on to say, in his interview with George Stephanopoulos, that this is the worst financial crisis he’s ever seen.
Treasury and … (0 comments)
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economic news: Economic Round Up - 07/28/08 03:27 PM
Although there were no major economic reports out today and the housing reform bill was approved and signed into law this weekend,wil be signed into law, the market could not hold on to positive territory. It's expected that this will help Fannie Mae and Freddie Mac stay in business and will … (0 comments)
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economic news: Economic Round Up - 07/24/08 06:14 PM
There's always the good news and the bad news.......I'll start off and end with the good stuff, there's not much today.
On a positive note crude oil prices have been much lower this past week as the bubble seemingly has burst on the speculation that was driving oil prices … (3 comments)
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economic news: The Economic Week In Review....... - 07/14/08 01:32 AM
The big news for the week came late on Friday.
After market close, it was announced, that IndyMac Bank, a leader in “Alt-A” loans, had been seized by the Office of Thrift Supervision, due to a run on deposits. This made IndyMac Bank the 2nd largest federally insured financial … (2 comments)
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economic news: The Economic Week In Review.... - 06/27/08 03:30 PM
Of note:
*FOMC left rates unchanged with the target funds rate at 2% and the discount rate at 2.25%
* Consumer Confidence-came in at 50.4 one of the lowest readings and some economists are surprised since, in their words, "the expansion of the economy is underway", meaning we … (0 comments)
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economic news: The Economic Week In Review - 05/23/08 10:41 AM
* Leading Indicators, inched up .1% trying to suggest that the economy will not officially dip into a recession.(Monday)
* Producer Price Index .2% increase seems tame following the 1.1% surge last month. (Tuesday)
* FOMC Meeting Minutes the Fed lowered it’s forecast for economic growth and indicated … (1 comments)
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economic news: The Economic Week In Review - 05/02/08 06:31 PM
Consumer Confidence fell from 65.9 to 62.3, lowest level since early 90’s.(Tuesday) FOMC Announcement-Fed lowered interest rates by .25%, to 2%. ,NAPM Chicago Index came in at 48.3. The report also showed that increasing costs of raw … (0 comments)
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economic news: The Economic Week In Review - 04/25/08 06:22 PM
Exisiting Home Sales dropped 2% in March. The bad news was that housing supplies increased to 9.9 months, up .3 from the February number of 9.6. Median prices were up 2.5% to $200,700, but is down 7.7% as compared to the median price in March 2007. State Street Investor Confidence Index … (5 comments)
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economic news: The Economic Week In Review - 04/18/08 04:23 PM
Retail Sales came in +.2%, better than the unchanged number they were expecting. Given that most of this increase came from sales at gas stations, I’m not really sure how you can put a positive spin on it. Business Inventories came in as expected at .6%. Many were hoping to … (0 comments)
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economic news: The Economic Week In Review - 04/11/08 05:27 PM
Consumer Credit-slowed substantially in February, $5.1B v.$10.3 in January. Pending Homes Index-outlook for the housing sector worsened as existing home sales fell 1.9% in February. Given the slowdown in the job market I would say this number will continue to look grim in areas where job losses are the … (2 comments)
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economic news: The Economic Week In Review - 04/04/08 04:21 PM
The Economic Week in Review:
NAPM Chicago Index showed a slight jump in orders, which was positive, but also showed a jump in prices, probably due to rising fuel prices.
Motor Vehicle Sales were weak, lowest rate since 1996, Construction Spending was down but better than expected and ,ISM Manufacturing … (3 comments)
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