Monthly Archives: December 2010

Nearly 2.2 Million Loans are 90 days+ Delinquent Not Yet in Foreclosure

Look for months of inventory to soar in the upcoming months with continued declines in home prices. Contrary to what most think, falling prices are a good thing. Home prices need to fall to a point low enough where genuine demand kicks in.

Foreclosure moratoriums are counterproductive and exacerbate existing problems.

Thursday Links Accelerating

Jobs Forecast 2011 Calculated Risk vs. Mish – Mish Calculated Risk, a good friend of mine, has come up with employment projections for 2011. He thinks the economy will grow by 2.4 million private jobs (200,000 a month), with an upside chance of 3 million jobs. I think those estimates are extremely high and we […]

Where Are All The Jobs?

The well paying goods producing jobs are never coming back. American manufacturing jobs have been shifted overseas for more than two decades by corporate America. Now those jobs have become more sophisticated, like semiconductors, software and even medical and finance. The American middle class is relegated to being McDonalds fry cooks, Wal-Mart greeters, and temp workers. What has happened to the American middle class was not an accident. The wealth of the country has been pillaged by an elite group at the very top of the economic food chain, who were able to reap the rewards of globalization (outsourcing American jobs), manipulate the debt based financial system through synthetic fraud products, and avoid taxes by hiring thousands of lawyers, accountants and tax consultants. When you hear that the rich need lower taxes, corporate taxes are too high and increased productivity is great for America, remember what they have done to the country since 1970. If corporate America and its leaders continue to reap obscene profits while the middle class falls further into the abyss, societal unrest will beckon.