Wondering if I should use this as a new economic indicator. In the 3-4 years I've lived in the D.C. area, riding the trains about half the year, I could count on 3 fingers the number of times I'd seen panhandlers on my routes, and never on the trains themselves. In the past two weeks, I've had people bugging me for money 5 times. I've seen 2-3 other panhandlers who hit up other passengers but didn't bother with me.
lost a couple billion. Four bucks a share. Whatever. Pikers. Fannie did better than that. Nothing to worry about, because the gobn'ment has a plan to make things better. An awesome plan [more]
This is without a doubt the most important news item of the week, however.
is a little scary. Good for him.
Haven't had a chance to write much about the latest economic news, so I've only got this to say: It appears Bernanke has chosen a path out of the mess he created in housing (and the related economy) by refusing to properly regulate the dangerous banking practices of the past few years. (Greenspan started it, but Bernanke finished it up.)
Why the H-E-double hockey sticks were all my stocks up so much today? I mean, a few retailers jumping 3-6%. What on earth happened (aside from a rancid housing number from the nation's biggest housing cheerleaders) that would cause people to suddently think things were great?
Don't get me wrong, I think they'll be great eventually, but the difference between last week and today?
These guys may have muffed their biz with all those lousy loans, but they have been one of the best outfits I've ever used for customer service. Had an issue where an ATM actually shorted me $20, called them, got someone on the phone in under 2 minutes, he was helpful, knew what to do, and took care of things quickly and politely.
To get HousingPanic ranked number one on Google as
Post a couple links and help out.
Wow, these guys are getting desperate. Just noticed that they got rid of all grace period for new purchases on the "motley Fool" credit card I had with them. (Used to be through MBNA, which they bought, right?)
The jerks from Bank of America have
another plan to try and fleece taxpayers in order to bail itself out of its own, stupid decisions. Make the us taxpayers directly buy the crummy loans that no one else wants. [more]
I gots no ranting time because I'm out of town at a conference. In the mean time, please amuse yourselves with
this image of a large turtle with grass in its eye winning a bike race.
Helicopter Ben and his gaggle of short-sighted market-savers tell us that inflation is just fine.
Yahoo management and board are being grossly irresponsible. After screwing up the business for years, they're now turning down the only reasonable offer on the table in order to try and tie up with Newscorp? For what?
complaining about those pesky short sellers. Plans to ask lawmakers to do something about it. [more]
Sounds like an amazing find. Since I know there are zero conspiratorial communcations between me and these miscreants (and having the evidence, you now know too), I'd love to take a look at your big find. [more]
You all may remember that CEO Tim Huff -- the primary promoter of GlobeTel's bogus Wireless Blimp stories, as well as the infamous Russian WiMax deal -- was one of the middle rats to scurry off that sinking ship.
Where does the news media get its "experts?" Too often, from the ranks of shameless self promoters, like this guy -- who has continued to hit me with unsolicited spam me though I've told him in the past "no thanks." I can count on no fingers the number of times I've quoted topical "experts" like him in my work, something that he'd know if he were actually reading these articles, rather than harvesting keywords or whatever he's doing.
Despite numerous reports showing home values in historic decline, more than three out of four homeowners believe their own home has not lost value in the past year, according to an online survey . [more]
That's what they say, anyway, though their own evidence seems contrary... [more]
Let's watch some Simpsons instead. (Don't feel guilty, this is a
A bit behind the curve on this one, but Chris Dodd wants U.S. Taxpayers to start buying
crummy mortgage bonds directly. Bail out his hedge-fund and big-shot banking constituents directly (after they've scampered away with their bonus money) while giving the appearance of helping overstretched borrowers. [more]
Turns out, it can be much much worse for the environment than the so-called "greens" in favor would have you believe. Why? Because as food prices go up with the drop in supply, rain forests and other natural carbon-capture lands are slashed and converted to low-quality farmland.
Want to shove the risk of your crummy jumbo loan onto the already-overburdened American Taxpayer? Then today's your day. The Senate's "stimulus" package is really an attempt to help crooked realtors, crooked banks, and bagholding borrowers shove the risk of their giant loans onto the rest of us. Oh, and Congress says they have to do it without charge -- so you know who will be left holding the bag when these jokers get the numbers wrong. After all, they're "too big to fail" right?
HousingPanic for alerting me to this craziness.
Although the weakening economy is a big concern, "we must not lose sight of the other part of the Fed's dual mandate -- which is price stability," Federal Reserve Bank of Philadelphia President Charles Plosser said, according to Dow Jones Newswires
Another part of the Ponzi scheme getting a
downgrade warning. [more]
Do your duty, taxpayers, and help those patriotic home builders
through their difficult time. [more]
Who could have guessed it? Q1 revs down 22%, but this is what's much, much better:
Gross signed contracts for FY 2008's first quarter of approximately $573.2 million and 904 homes declined 46% and 38%, respectively...
That's really not fair. Far better that all of America sucks it up and guarantees $730K jumbos so that Bobby Toll can retire in higher style.
In short, there is no way to help these people. They screwed up major, and they will walk away from these mortgages. Let it happen, let the prices fall, and let people who know how to deploy capital wisely step in to buy when the price is right.
Usually, CAPS is for me just a hunch lab. I'm going to start an experiment with tossing in some screened-up tickers, to see how they respond in this market. The screen is still a secret formula for now, but maybe I'll make it public once I get a feel for how these stocks respond in Caps.