Posts under ‘The Economy’

March existing home sales fall 2.6%, the median price gained 2.5%. The state of Louisiana hits MERS with a RICO suit alleging fraud for not paying county fees.

Debt matters a great deal as delveraging is both painful and slow. As folks are finding out the hard way falling out of the “middle class” in the process.

Credit is critical to understanding current economic events. As the Great Recession and recovery shows that neither is your typical business cycle variety.

The SF Fed figures that credit crisis induced recessions aren’t your garden variety figuring that GDP estimates and inflation both need to be revised lower.

Short sales jump in January as per LPS. Jefferson county Alabama petitions the court to divert funds from muni debt service to public works post bankruptcy.

Once again the trend is your friend, until it isn’t. Too big to fail banksters are even bigger, just their latest example of being the new untouchables.

The March CPI gains .3%, annualized the rate is just 2.4%, once again inflation no threat. Spanish sovereign yields increase but the rest of Europe declines.

When credit collapses and employment goes south along with income demand destruction occurs. This is economics 101 as people have less to spend as a result.

March PPI neutral, annualized drops to 2.8%. February Trade Deficit down 6.5 billion to 46 billion on lower imports. RealtyTrac says foreclosure fell 2% in Q 1.

Import prices jump in March on higher oil costs. Beige book says steady as she goes last month. Wells Fargo gets nailed for ripping off its mortgage customers.