Bank Home Repossessions Jump 25% From One Year Earlier, Setting New Record

| September 16, 2010

U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners, according to RealtyTrac Inc. Bank repossessions climbed 25 percent from a year earlier to 95,364, the most since the Irvine, California-based data provider began keeping records. “We’re on track […]

U.S. Home Prices May Face 3 More Years Of Decline As Inventory Surges

| September 15, 2010

Bloomberg      09-15-2010 The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market. Shadow inventory — the supply of homes in default or foreclosure that may be offered for sale — is preventing prices from bottoming after a 28 percent […]

Unprecedented 19th Sequential Equity Outflow, $10 Billion In September Redemptions

| September 15, 2010

ICI’s latest data discloses that in the week ended September 8, domestic funds saw outflows of $2.2 billion, following last week’s massive $7.7 billion. And  ETFs experienced outflows as well. So far September has experienced nearly $10 billion in outflows, even as the market has ramped by over 6%.  This is the 19th sequential outflow […]

Pension Deficit Disorder

| September 15, 2010

The funded status of the 100 largest corporate defined benefit pension plans dropped by $108 billion during August 2010 as measured by the Milliman 100 Pension Funding Index (PFI). The funded status decrease was primarily due to a significant decrease in corporate bond interest rates that are the benchmarks used to value pension liabilities. Though […]

U.S. Retail Sales Numbers From Census Report

| September 14, 2010

U.S. Retail Sales came essentially in line with consensus at 0.4% versus expectations of 0.3%. The previous number was revised from 0.4% to 0.3%.   Auto sales dropped both M/M and Y/Y. From the Census Report: The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for […]

Corporate Pension Underfunding Hits Record $460 Billion Deficit

| September 14, 2010

A $108 Billion Deterioration In ONE MONTH www.zerohedge.com      09-14-2010 According to actuarial and consulting firm Miliman, in August 2010, the funded status of the 100 largest defined benefit pension plans sponsored by U.S. companies dropped by $108 billion to a 10-year low of 70.1%. Yes, that’s a $100 billion + deterioration in one month!  The […]

More Entitlements Then Ever….The Free Lunch

| September 14, 2010

Nearly half of all Americans live in a household in which someone receives government benefits.  This is more than at any time in history. Making matters even worse, the number of American households not paying federal income taxes has also grown—to an estimated 45% in 2010, from 39% five years ago, this according to the Tax Policy Center.   […]

Stratfor….Elections And Obama’s Foreign Policy Choices

| September 14, 2010

September 14, 2010 | 0856 GMT   By George Friedman We are now nine weeks away from the midterm elections in the United States. Much can happen in nine weeks, but if the current polls are to be believed, U.S. President Barack Obama is about to suffer a substantial political reversal. While we normally do […]

Mutual Fund Cash At All Time Record Low Of 3.4% Of Assets In Most Recent Reporting Period…..This Is Long Term Negative For Equity Markets

| September 13, 2010

Igor A Category 5 Hurricane Is On Its Way….Bermuda and Newfoundland, Canada At Highest Risk

| September 13, 2010

Additionally there are also other systems of concern in the basin, such as Julia farther east and the possibility of Karl forming in the disturbed weather currently in the Caribbean. Igor continued on a strengthening phase into Monday. The last Category 5 hurricane in the Atlantic was Felix in 2007. That season yielded two Category […]

New York Fed To Buy $27 Billion In Treasurys……

| September 13, 2010

So what will bolt from the gate fastest Stocks, Bonds or could Gold and Silver lead the way?  The New York Fed has just disclosed it will buy $27 billion in Treasurys between mid-Sept and mid-October. Using the Basel III blessed 30x leverage, this money, once it makes its way to the Primary Dealers, should be […]

John Williams Of Shadow Stats Says Economic Downturn Re-Intensifies!

| September 13, 2010

From John Williams of shadowstats.com……… – Protracted Economic Downturn Re-Intensifies  – Systemic Stability: “Tap-Dancing on a Land Mine”  – Risks of U.S. Dollar Instability and Systemic-Salvation Efforts Pose          Severe Inflation Threat www.shadowstats.com

Market Liquidity Update: 112 Stocks Now Account For Half The Day’s Trading Volume

| September 13, 2010

Hmm, this is a rather stunning study to say the least.  And people wonder why there is a flight from equities into bonds. 09-13-2010 The latest Abel/Noser analysis has been released and according to the data analytics firm just 112 stocks now account for half of the day’s volume, the top 20 stocks account for 26% […]

World Commodities…..An Interactive Look At What’s Left

| September 12, 2010

09/12/2010 Scientific American has done a summary of peak commodity levels as well as depletion projections for some of the most critical resources in the world including oil, gold, silver copper, not to mention renewable water, as well as estimating general food prices over the next half century. Generally speaking, regardless of whether one believes […]

Geithner Says Action On Economy Important Now!

| September 12, 2010

Nice to know that someone is on the job! WASHINGTON    Treasury Secretary Timothy Geithner said Washington can under cut an already slow economic recovery if it fails to provide quick  support to business and individuals. “If the government does nothing going forward, then the impact of policy in Washington will shift from supporting economic growth […]

The Consumer And Debt

| September 11, 2010

If not for record low interest rates, the Debt Service Ratio chart below would look a lot different! The consumer, and why the expectation (and reality) of deflation will keep U.S. buyers subdued, and continue to make the US economy ever more reliant on the government’s transfer payment, aka welfare, program. A very simple illustration of the […]

More Stringent Mortgage Underwriting Standards Sought By The FDIC

| September 11, 2010

FDIC’s Bair Warns of Government “Exposure” in Mortgages WASHINGTON (Reuters) – A key U.S. banking regulator raised concern on Wednesday about the risk of “exposure” the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages. “We should all be concerned about the type of exposure that the government […]

McDonald’s New Obama Value Menu

| September 10, 2010

Q: Have you heard about McDonald’s’ new Obama Value Meal?   A: Order anything you like and the guy behind you has to pay for it.          —Conan O’Brien  

This Looks Like A Reasonable Real Estate Assumption Based On Our Current Economic Situation

| September 10, 2010

  More: http://www.moneytalks.net/images/stories/August_26/Psychological-Stages-of-a-RE-Bubble-Market1.png

Tropical Storm Igor Weakens

| September 10, 2010

www.ingerlette.com

Commercial Backed Loans In Delinquency Are $3.1 Billion In August

| September 10, 2010

Interesting fact…..stock market REIT ‘s (Real Estate Investment Trusts) are trading at near record highs. Of the $3.1 billion new delinquencies in August, $1.1 billion (36%) corresponded to hotel-backed loans, pushing the hotel-specific delinquency rate past 20%. Current delinquency rates by property type are as follows: –Hotel: 20.80% (from 18.64%) –Multifamily: 14.18% (from 13.87%) –Retail: […]

Shifting Demographics And The New Normal

| September 9, 2010

Shifting Demographics  A factor affecting demand is shifting demographics. The Baby Boomer generation is no longer the consumption engine it has been to the US economy.   We have a generation that, as has been predicted for some time, is reducing its expenses but it may be even more dramatic than forecasted. With home housing […]

Gauging The Threat Of An Electromagnetic Pulse (EMP) Attack

| September 9, 2010

September 9, 2010 By Scott Stewart and Nate Hughes   Over the past decade there has been an ongoing debate over the threat posed by electromagnetic pulse (EMP) to modern civilization. This debate has been the most heated perhaps in the United States, where the commission appointed by Congress to assess the threat to the […]

Domestic Equity Mutual Funds See Outflows For The 18’th Consecutive Week, ETF’s Have Small Outflows

| September 8, 2010

Here is the key to this….In tracking mutual fund redemptions, net cash liquidity is now down to just 3.5% of assets.  This is very negative data for the stock market. Domestic equity mutual funds saw $7.5 billion in outflows, it’s the biggest one week outflow since the $13.4 billion redeemed in the week of the Flash Crash. It’s […]

Commercial Loan Delinquencies Sets New Record At 8.92%

| September 8, 2010

After two months of moderated growth in delinquent loans backing commercial mortgage-backed securities (CMBS), the delinquency rate in August increased 21 basis points to 8.92%, according to the analytics firm Trepp. It’s an increase from the 8.71% measured in July and another new record. The August delinquency rate is more than double the 4.03% rate […]

We’re On A Long Windy Down Hill Road To Nowhere

| September 8, 2010

Between 1974 and 1982 nominal stock prices drifted slowly higher as corporate earnings picked up; thereby compressing valuations and ending the bear-market. But from the current look of things we are a ways from that outcome.     

Castro Says Cuban Model Doesn’t Work Anymore!

| September 8, 2010

Sounds like a hybred communist capitalist system is coming to Cuba soon.  Maybe they will look to the Chinnese model for guidence! HAVANA    Fidel Castro told a visiting American journalist that Cuba’s communist economic model doesn’t work, in a rare comment on domestic affairs. Jeffrey Goldberg, a national correspondent for The Atlantic magazine, asked if Cuba’s […]

Beige Book Out….Fed Banks: ‘Widespread Signs of a Deceleration’ In Economy

| September 8, 2010

The Federal Reserve said the U.S. economy maintained its expansion while showing “widespread signs of a deceleration” in mid-July through the end of August, according to a survey by 12 regional Fed banks. The New York Fed reported “signs of decelerating” in the district, including “further deceleration” in manufacturing. The Philadelphia region said business conditions […]

Student Loan Debt Now Surpasses Total Credit Card Debt

| September 7, 2010

Here is another government controlled project.  These are unbelievable statistics.  Simply beyond belief!  Credit card debt peaked at $975 billion back in September of 2008 and is now down to $826 billion. Past and current students now carry a stunning $829 billion in student loan debt.   Fact:  You are not allowed to discharge student loan debt through bankruptcy.  […]

Storm Clouds Are Gathering In Europe…Again!

| September 7, 2010

The problem with trying to put hupty dumty back together is much like a house of cards,  they both tend to fall apart in a heap.   While abundant liquidity in May and June served as an artificial prop to return European  and PIIGS spreads to previous levels, it looks more like a mean reversion as algorythems took hold.  The second time around […]

France Wants To Raise Its Retirement Age From 60 To 62….And The Workers Come Unglued

| September 7, 2010

So…….What’s going to happen here in the good old USA when, not if our congress gets around to this.  Hint….. judging from the french reaction,  it won’t be pretty!   If you would like to know more about the demographic problem, just go to Categories on the left and click on Pensions and Retirement.  There is plenty to read about on the […]

Gold….Let’s Review Some Facts

| September 6, 2010

Have you ever wondered about which countries have the biggest gold reserves or are the largest producers of gold? Gold Atomic Number: 79 Symbol: Au Atomic Weight: 196.9665 Discovery: Known since prehistoric time Word Origin: Sanskrit Jval; Anglo-Saxon gold; meaning gold – also Latin aurum, shining dawn  Carats and carobs The word ‘carat’ (the measurement for gold purity) comes […]

Paradoxical Thought For Today

| September 6, 2010

  “Fathom the odd hypocrisy that Obama wants every citizen to prove they are insured, but people don’t have to prove they are citizens.”               ~ Ben Stein

The Big 4 Banks Control A Huge Amount Of Bank Assets

| September 5, 2010

So even though we have nearly 8,000 banks, the bulk of the assets sit with a small number of banks and the Deposit Insurance Fund (DIF), the fund that backs the assets of the banks is actually in the red for $15 billion: www.mybudget360.com

The Old Normal Worked Well……So What We Really Need Is A Back To The Future Event

| September 4, 2010

Without tax incentives, this may all be for not……..John Mauldin explains the simple facts of job growth…..Want to increase productivity and jobs? The best way it seems, is to encourage private business, and especially startups.  “So we can’t count on the Intels or Microsofts to create employment: we need the entrepreneurs.”   Delta Force There are […]

Distribution Of Net Worth…Getting Current Using Fuzzy Logic

| September 4, 2010

Even after looking at the market’s rebound from the lows of 2009, nest eggs remain severely impaired.  As of the first quarter of 2010, net household assets—homes, 401(k) plans, pension assets and other investments minus debts—stood at $54.6 trillion, down an average of 18% from the end of 2007.   We actually think the losses are higher but we’ll […]

Stock Market Seasonality

| September 4, 2010

Jim Rickards……”A Must Listen To” Interview About The Economy And More

| September 4, 2010

A must listen to interview with Jim Rickards about our economy and more.   We all need to be aware of the direction of things to come.   This interview from Jim Rickards will help in understanding these things better.   Click on the following link or paste into your browser:     http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/4_Jim_Rickards.html   Biography of James G. Rickards…..James G. Rickards is […]

Cumberland Advisors: The Harrisburg Mess – The First Inning

| September 3, 2010

Very interesting,  but also a worst nightmare for tax payers……….Under Pennsylvania law, Ambac Assurance (which insures some of Harrisburg’s debt) can take Harrisburg to court to seek an order to raise property taxes to pay debt.  This is the nature of “full faith and credit” of general-obligation bonds.  So the tax payers are stuck for the […]

Bond Vs. Stocks…..Pension Allocations

| September 3, 2010

Bond Vs. Stocks…..Pension Allocations.  Looks like bonds are priced to perfection here, so if re allocations take place in the next year like this report says, then the results may not be pretty. If interest rates have any kind of a kick to the upside a broad under performance could be setting up for retirement accounts.  Hmmm, isn’t […]

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