» Business Economy
The Great Crash of 2008
Monday 01 December 2008 If this isn't a Great Crash I don't know how to define one. Stocks were down another 7 percent today. Since the peak of last year, major stock indexes have dropped 47 percent. We're in range of the Great Crash of 1929. While the US economy has only recently been officially deemed as in recession, many Americans have been struggling with poverty for a long time.. » read more
States Want $176 Billion Slice of Stimulus
Tuesday 02 December 2008 Governors to ask Obama to set aside federal funds to boost local economies. When President-elect Barack Obama arrives at Philadelphia's Independence Hall today to meet with the nation's governors, the main question will be not whether he will deliver fast fiscal relief to the states, but how much? Governors met to ask for federal assistance. (Photo: Nick Ut / AP) Obama and congressional Democrats have promised that soon after Inauguration Day he will sign an economic stimulus bill that could exceed $500 billion. The governors intend to request about $176 billion of that - $136 billion for infrastructure projects and $40 billion to bolster Medicaid health programs that serve the poor and disabled. "The slowing economy is resulting in growing unemployment, increased demand for state services and significant declines in state revenues," said Gov.. » read more
America's Great Depression - Theory and Inflation: Economists and the Lure of a Stable Price Level
. » read more
Dow Plunges on News Recession Began in Dec. 2007
Dec. 1, 2008 WASHINGTON (AP) -- Most Americans sorely knew it already, but now it's official: The country is in a recession, and it's getting worse. Wall Street convulsed at the news -- and a fresh batch of bad economic reports -- tanking nearly 680 points. With the economic pain likely to stretch well into 2009, Federal Reserve Chairman Ben Bernanke said Monday he stands ready to lower interest rates yet again and to explore other rescue or revival measures. Rushing in reinforcements, Treasury Secretary Henry Paulson, who along with Bernanke has been leading the government's efforts to stem the worst financial crisis since the 1930s, pledged to take all the steps he can in the waning days of the Bush administration to provide relief.. » read more
The Prechter Predictions
Nov. 29, 2008 Back in 2003, Bob Prechter put out his longer term predictions for the secular bear market - not stocks so much as the overall change in social dynamic. He is now publishing these predictions and I thought it worthwhile to pass them along. It starts with the general change in social mood of bull to bear markets, and then makes 100 specific predictions that should come true by the end of the bear market, which in 2003 he thought would be around 2014. I highlight a few of the interesting ones.. » read more
FOOD AND MONEY CRISIS IN THE PHILIPPINES
Nov. 30, 2008 Food/Rice crisis continues to ensue in the Philippines and reportedly would take to be resolved for 2 years time unless there would be some imported food aid or there would be a prioritized national agricultural development efforts. But the central problem is: THE GOVERNMENT NEEDS or is being pressed TO BORROW MONEY AT INTEREST TO FOREIGN US BANKS and financiers or lenders to buy imports or buy rice from USA and from other countries. Further borrowings overseas cannot solve the problems of food and money crisis in the Philippines. FOOD CRISIS AND MONEY CRISIS - are the two most fearful things of all.. » read more
Libraryo-Like Silence in the Stores as Thanksgiving Sales Fail To Draw Crowds
Nov. 29, 2008 The police officers who set up double metal barricades yesterday along the sidewalks of Fifth Avenue in Manhattan need not have bothered. While the New York Police Department had erected the barriers to protect what they expected to be burgeoning crowds of shoppers yesterday from spilling onto the road, few of the bargain hunters turned up. Traditionally yesterday – known as Black Friday – is the busiest shopping day in the American calendar when stores kick off the postThanksgiving sales. Last year, about $20 billion was spent in American stores on that day alone.. » read more
Poverty Spreading in Suburbs
Nov. 28, 2008 WASHINGTON (Reuters) - Poverty in the United States is spreading from rural and inner-city areas to the suburbs, according to a study, a situation that can worsen as the economy confronts what may be a protracted recession. A sign reading 'Foreclosure For Sale' is posted on a house in the Boston suburb of Dedham, Massachusetts March 15, 2007. The study by the Federal Reserve's Community Affairs department and the Brookings Institution Metropolitan Policy Program found that poverty levels in the world's richest nation were on the rise. "It shows that concentrated poverty is still very much with us, and that it can be found among a much more diverse set of communities and families than previous research has emphasized," said Bruce Katz, a director Brookings Institution Metropolitan Policy Program.. » read more
The Collapse Of 2009
Nov 27, 2008 RHINEBECK, NY -- In November 2007, we predicted "The Panic of '08" as a Top Trend for 2008. We were so sure of our forecast that we secured the domain name, Panicof08.com in November of 2007. This November we predict "The Collapse of '09" as a Top Trend for 2009. We are so sure of this forecast that we have recently secured the domain name, Collapseof09.. » read more
Existing Home Sales
Nov. 24, 2008 From: ChasVoice Sent: Monday, November 24, 2008 Half of Foreclosure Sales are Now Re-Defaulting! NAR: Re-Default Rate 50% of Modifications by CalculatedRisk on 11/24/2008 12:00:00 PM Here is a video report from CNBC's Diana Olick: Existing Home Sales. Listen to the end (hat tip Hal) "The Realtors are reporting that foreclosure sales - that is distress sales being foreclosures or short sales - have risen from what they thought was 35% to 40% of all existing home sales, now they are saying it is 45% of all existing home sales. They also are saying they are seeing further softening toward the November numbers. And they are hearing from the Realtors they talk to that the re-default rate on a lot of these loan modifications are running at 50% - that is half those of modifications aren't working.. » read more
Section Navigation
Advertisement
Support Four Winds
Your contribution is vital in maintaining the fourwinds10.com website. With extensive costs associated with this website, your donations are very much appreciated.
