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unemployment

No “green shoots” in employment

by MorganJune 21, 2009 Economy

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Unemployment rose in nearly every state in the nation in May, with many reaching record unemployment levels not seen since 1976. So much for green shoots. If 70% of our economy is driven by consumer spending, and [...]

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Long-term unemployment woes increasing rate prime mortgage foreclosures

by Constantine von HoffmanJune 9, 2009 Bailout

As the unemployment rate continues to grow it is hitting an increasing number of people who had prime mortgages. The result is a huge increase in foreclosures among primes. In the first three months of the year, prime fixed-rate loans accounted for nearly half of the increase in foreclosure proceedings, according to the Mortgage Bankers [...]

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Morning Quickie 03/12/2009

by phillenbrandMarch 12, 2009 We're Reading

Money And Markets - Scamalot: The Worst Con Jobs Are Yet To Come
Mortgage Insider - Tranche warfare – a mortgage dispute gets ugly
Today’s Business Press - Does Madoff’s Life Begin Today?
ML-Implode - U.S. Justice Foundation’s President Arrested
Naked Capitalism - Cuomo Asserts That Traders Looted Merrill

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As job losses mount, why prop up prices?

by MorganMarch 6, 2009 Bailout

Well the unemployment data is perfectly awful as reported in numerous places. There are some good graphs on CNN Money that highlight the pain. As Fielding Mellish commented the other day (paraphrasing here): why stabilize house prices at a level above what people can actually afford? With people losing their jobs [...]

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American Recovery and Reinvestment Plan – can we print enough cash?

by MorganJanuary 12, 2009 Economy

My only question. How do we pay for this thing?

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Cut the bull and call it a Depression

by Constantine von HoffmanDecember 12, 2008 Economy

Guest post by Constantine von Hoffman, veteran business journalist and author of the blog CollateralDamage.biz, a humorous look at marketing and business.
Two weeks ago the National Bureau of Economic Research officially confirmed what we already knew: we  have been in a recession for the past year. This begs the question, how long until we declare [...]

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A Date with Armageddon**

by MorganDecember 8, 2008 Economy

Another guest post from MG Dungan who went from Wharton to Wall St. to real estate to Blown Mortgage.
Now here?s a lagging indicator for you: at least a year after the fact, the recession is now known to have began in December 2007. A depression comes next, but since there has been only one in [...]

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California: In a State of Quiet Desperation

by phillenbrandDecember 8, 2008 Economy

California has quickly turned into a case study for the long-term effects of the housing market. The state, which ranks as the eighth largest economy in the world, found itself in a state of quiet desperation when the credit crunch took effect in October. California had already delayed its yearly budget over 80 days, finally [...]

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Everything is Deflating, Not Just House Prices

by MorganNovember 13, 2008 Economy

Another guest post from MG Dungan who went from Wharton to Wall St. to real estate to Blown Mortgage.
There is considerable discussion as to whether we are in, or entering into, a period of inflation or deflation. It?s important to know which one it is and why, to be able to plan effectively.
It?s deflation, and [...]

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