What is the definition of fiscal? Webster’s dictionary says fiscal means “of or pertaining to the public treasury or revenues.” When the President talks about fiscal policy, the President is talking about how the federal government will spend tax revenue. So, what is the fiscal cliff? Based on current federal government policy, laws will go [...]
Guest post from Charles Hugh Smith. Does carefully nurturing a facade of health actually lead to health? No; all it does is perpetuate a destructive illusion. The policy of the Status Quo since 2008 boils down to this assumption: if we prop up an artificial economy long enough, it will magically become real. This is an [...]
It probably depends on who you ask. But according to a recent WSJ article, architects, home builders, and disseminators of real estate porn all seem to think the time is now. hmm. No comments from outside the ‘benefits from improving real estate market’ camp. The idea seems premature to me. Even though I think the [...]
In 2009, the U.S. Congress passed and President Obama signed the American Recovery and Reinvestment Act (ARRA). You may recall the phrase “shovel ready projects” or saw the big green signs along local freeways touting infrastructure work to be done locally. The initial price tag was about $787 billion. There first object of ARRA was [...]
Longtime readers know that I am a big proponent of listening to the voices who have generally been right about the economy and housing market, while ignoring the industry shills and cheerleaders. One of the groups that has been dead wrong about housing is the UCLA Anderson Forecast (especially since Chris Thornberg left) which has [...]
From Yahoo’s Tech Ticker: “It’s going to get a lot worse that what it feels like right now.” Why is this guy’s call more valid than all of the other people predicting recession? By now you may be wondering what separates ECRI’s recession call from the myriad other recession calls out there. First, ECRI’s primary raison [...]
Today I attended a speaking event featuring Barry Habib, sponsored by Walnut Creek’s RPM Mortgage and a mortgage-broker friend of mine, Ken Neate. Barry is a well-respected businessman, investment professional, and a heavyweight in the mortgage industry, and was invited to share his thoughts on the mortgage market, interest rates, the economy, stocks, and the housing market with a select group of local real estate agents.