economy: Gas prices fall for 61st consecutive dayGas prices fall for 61st consecutive day
- 11/17/08 05:52 AM
who knew. I mean, I know. But, I didnt realize. Gas Prices fall for the 61st day in a row, according to AAA, the american automobile association. Prices are donw more then 50% since they high in mid July , just 4 months ago. The question on everyone mind is whether other commodities such as food, wheat, orange juice and coffee follow a period of deflation? The economy, volatile stock market, weak real estate market and world recession are demanding it! … (0 comments)
Real estate is struggling. Credit has all but dissappeared. The stock market has nose-dived (again) after the election. No matter how you cut it, economist, or joe six-pack, we are in a recession. Wait a minute. I though, pawn shops, alcohol and gambling are recession proof. In fact, September saw the greatest monthly decline in revenues in the 30-year history of legalized gambling, down more than 15 percent. I am not a gambler. Though, I do understand that in trying times, people will still throw a few dollars towards lady luck. Now, I come to find out that those … (0 comments)
economy: Should the Government help the Auto Makers?
- 11/08/08 12:46 PM
Should the Government help the Auto Makers? I mean is it only fair? They did help Fannie Mae, Freddie Mac, Bear Stearns, to name a few..... why not GM and Ford?? Ok, ok, I am biased. I am from Michigan originally, so I know the depth and importance interwoven into the economy and tradition and family what these companies mean to all of Michigan and the entire country Democratic leaders in Congress asked the Bush administration on Saturday to provide more aid to the struggling auto industry, which is bleeding cash and jobs as sales have dropped to their lowest … (1 comments)
economy: Obama Presidency; Dow Falls Nearly 500
- 11/05/08 07:31 AM
Not the way to start day of the rest of our economic lives. Wall Street, and the Dow Jones falling nearly 500 points more than 5 percent. The market was expected to give back some gains after a six-day runup that lifted the Standard & Poor's 500 index more than 18 percent. Investors, very surprisingly, sold stocks sharply event though the outcome of PResident Elect Barack Obama was all but certain. Analysts said the market is also growing anxious about whom Obama selects as the next Treasury Secretary, as well as whom he picks for other Cabinet positions … (0 comments)
economy: A sign of things to Come
- 11/04/08 03:34 AM
Wall Street was enjoying an Election Day rally The Dow Jones industrial average soared more than 300 points, and the other major indexes rose well over 3 percent. Investors are also eager to have the election over with. Analysts predict stocks are headed for a recovery no matter who is elected, as the policies of both John McCain and Barack Obama will likely be guided by the weak economy and the recent flood of government support designed to keep the global financial system from collapsing … (0 comments)
economy: Who really is to blame??
- 11/04/08 03:23 AM
Who really is to blame?? Borrowers - remember, Buyer Beware! We are quick to recall that old adage until it happens to us. However, buyers must take some responsibility before they are quick to point blame. Lenders - Most lenders originate loans to consumers with the plan of immediately selling this loan to another institution. Greed by lenders to get paid a commission led to "liar loans' and a wide disregard of borrowers ability to pay for the mortgage. Banks - Lack of over sight by management, low underwriting standards and poor explanation of borrower risks are key factors to … (0 comments)
economy: Things are not as bad as they seem!
- 10/30/08 04:37 AM
a better-than-expected reading on the economy in the third quarter gave way to further questions about corporate profits. Still, the market appeared generally relieved after a government report showed the economy contracted in the third quarter by less than expected and after the Federal Reserve's second interest rate cut in a month. The Commerce Department reported that the nation's economic output was the weakest since the third quarter of 2001, but it wasn't as bad a showing as Wall Street had feared. "I think we're seeing that transition from 'don't buy' to 'maybe we buy something,'" a wall street analyst said. … (1 comments)
economy: Another Day another stock market crash
- 10/22/08 08:11 AM
Another Day, Another Bad headlines (mortgage appliations at 8-year low) and Another stock market crash. The major indexes each lost more than 4 percent, including the Dow Jones industrials, which is ending down 560 at the 8,469 level after being down as much as 698 points in the final half hour of trading. Is there an end in sight? Will the credit market ease up? Will the FED lower rates? Stay tuned the election is less than 2 weeks away. … (0 comments)
economy: Credit Market show signs of easing
- 10/20/08 04:47 AM
the market acknowledges that this is going to be a long drawn out process. However, we are on the right path. investors took signs of easing in the credit markets as evidence that government measures to revive the battered financial system are taking hold. Investors shaken by extreme volatility over the past few weeks turned more optimistic as bank-to-bank lending rates eased further. This has helped to temper recession worries, but Federal Reserve Chairman Ben Bernanke still warned that the economy is likely to be "weak for several quarters, and with some risk of a protracted slowdown." "The market liked what … (0 comments)
economy: The real victim - Holiday Parties
- 09/30/08 06:38 AM
As the profit party ends on Wall Street, the American impulse to celebrate could lose its fizzle like day-old champagne. Company parties will still go on this holiday season, say caterers, event planners and others, but many businesses are caught between the need to scale back costs and a desire to reward employees who have been on a rough ride recently. "Parties need to reflect the mood of the times. It's not going to be a time for big to-dos," said John Challenger, CEO of employment consultancy Challenger, Gray & Christmas, which will release a survey on the extent of this … (0 comments)
economy: House to try again on Thursday
- 09/29/08 09:00 AM
After , a stunning vote that shocked the capital and worldwide markets, the house will try again on Thursday the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. The Dow Jones industrials plunged nearly 800 points, the most ever for a single day. Democratic and Republican leaders alike pledged to try again, though the Democrats said GOP lawmakers needed to provide more votes. Bush huddled with his economic advisers about a next step. The House was … (0 comments)
economy: what banks are next to fail?
- 09/29/08 08:57 AM
Today after news of The plan's defeat came amid more reminders of how troubled the nation's financial system is - before trading began came word that Wachovia Corp., one of the biggest banks to struggle due to rising mortgage losses, was being rescued in a buyout by Citigroup Inc. It followed the recent forced sale of Merrill Lynch & Co. and the failure of three other huge banking companies - Bear Stearns Cos., Washington Mutual Inc. Lehman Brothers Holdings Inc.; all of them were felled by bad mortgage investments. Which banks are next, and how many? The Federal Deposit Insurance Corp. … (0 comments)
economy: Market Plunges 700 points on No Vote
- 09/29/08 06:49 AM
As the floor of Congress was shown on National television and the vote for or against the $700 billiion rescue packages was read, Fear swept across the financial markets Monday, sending the Dow Jones industrials down as much as 705 points, after the government's financial bailout package failed the House. As the vote was shown on TV, stocks plunged and investors fled to the safety of the credit markets, worrying that the financial system would keep sinking under the weight of failed mortgage debt. "Clearly something needs to be done, and the market dropping 400 points in 10 minutes is telling … (0 comments)
who knew. I mean, I know. But, I didnt realize.;)
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