What a drag.......Economic Update - 07/30/07 07:58 PM
The housing market took center stage last week when finally it was acknowledged that the slow down is affecting the Global economic system. The stock markets here and in Europe which had been marching up, and up and beyond made an abrupt turnaround. Starting with Countrywide's 33% drop in second quarter earnings sighting losses due to defaults of prime rather than sub prime loans. The "prime" loans are the 80/20 loans; the "20" consisting of home equity lines of credit where the interest rates have continued to increase sometimes monthly. Also, with the delinquency rates tripling on the nearly 30 billion … (0 comments)

Aspirin ain't going to help.....Economic Update - 07/20/07 03:54 PM
Remember the big party we all attended in 2005? And in 2006 we woke up with what we thought was a slight hangover. Like when I hear people talking about hangovers....morning's are o.k. but by the afternoon you are really wishing you had not drank that second kamikaze with a tequila chaser. 2007 is becoming the mother of all hangovers and the afternoon is a drag. It is quite the conundrum with the stock market closing over 14,000 yesterday with most of the rise contributed to global revenue. But the nervousness over the sub prime losses, which Ben Bernanke in his … (4 comments)

Friday the 13th Economic Update - 07/13/07 02:05 PM
Yesterday's Wall Street rally, with the incredible 14,000 in close view, has the markets looking for even bigger gains today. The Dow Jones Industrial Average is the average performance of 30 stocks including American Express, Chase, Coca Cola…stocks you and I may not be able to afford. The Dow Jones was created in 1896 by the editor of the Wall Street Journal and the owner of Dow Jones and Company with 12 stocks and with a stock trading average at 40.00. On November 21, 1995 the Dow closed above 5,000 for the first time. After nearly 100 years of trading. Today's … (0 comments)

 

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