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The Fed Is Too Powerful To Be Unaccountable

The popularity of US Rep. Ron Paul’s bill to audit the Fed taps into a great pent-up frustration about the unaccountability of the very powerful institution. Independent socialist Bernie Sanders of Vermont is the senate sponsor. While Dr. Paul wants to go as far as getting rid of the Fed, he wisely offered an opportunity for us to learn more and make a more informed decision.

12Jan2010 | BradleyJansen | 3 comments | Continued
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Default As A Patriotic Duty

The President of the Financial Crisis Stimulates Systemic Long-Term Unemployment. Consumer Advocates Attack Creation Of Affordable Housing.
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I read a mysterious statement the other day.
“My data show that between 1890 and 1990 real home prices actually didn’t increase,” said Robert Shiller, in Newsweek (Dec 30, 2009), Why We’ll Always Have More Money Than Sense.
We have all [...]

11Jan2010 | MichaelWhite | 10 comments | Continued
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The New Year’s Guide of 10 Key Charts To See Before Buying A Home

Ten housing charts (Including Affordability, Inventory, Delinquent Mortgages, Rates and others) that should make you question if now is really a good time to buy a home.

2Jan2010 | MichaelWhite | 1 comment | Continued
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Fed Treasury Choke On Kryptonite

The housing market remains oversupplied by 860,000 units when compared to a 10-year average inventory and the overhang represents a direct contradiction to the spirit of Tuesday’s headlines describing new data from the National Association of Realtors.

Major media said that “Home Sales Exceed Forecasts” (Bloomberg) and “Sales Rise 7.4%” (Wall Street Journal) and “Sales of [...]

23Dec2009 | MichaelWhite | 3 comments | Continued
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Four More Years To Fall

The exhaustive Freddie Mac price index predicts prices will continue to fall for the next four years as the index fell 2% nationwide in the 3rd quarter.

9Dec2009 | MichaelWhite | 1 comment | Continued
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Weak In Review

Now that I’ve recovered from turkey overload, it’s time to digest last week’s economic data turkeys.
Case Shiller was out with more late data last week. I say late because the data includes sales only through September. Call it the curve behind the curve. Not only is it late, the index is an average of the [...]

30Nov2009 | Lee Adler- The Wall Street Examiner | 0 comments | Continued
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Top Forensic Loan Auditor Comments on Wells’ Pay Option Situation

Calling B.S. on pollyanna-ish appraisals of Wells’ Pay Option ARM risk, with the help of an industry expert.

30Nov2009 | admin | 2 comments | Continued
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Losses and Zombie Debt in Residential Mortgages Surpass $5 Trillion

Mortgage debt of $5.6 trillion is a bubble legacy and the most obvious source of a renewal of the financial crisis.

25Nov2009 | MichaelWhite | 1 comment | Continued
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Case-Shiller Still Predicts Massive 45% Fall From Today’s Values

The 10 major cities in the Standard & Poor’s/Case-Shiller home price index have risen 5% from their April low, but the index is still predicting a massive 45% fall from today’s values.

24Nov2009 | MichaelWhite | 51 comments | Continued
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Single-Family Inventories Remain Oversupplied by 900,000 Units

Inventory of single-family homes fell 60,000 units in October. They remain oversupplied by 908,000 units when compared to the long-run average.

23Nov2009 | MichaelWhite | 3 comments | Continued
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