Posts under ‘The Markets’

Stocks continue to rise, S&P 500 breaks 1,400 again. Wither the recession? ECRI doesn’t think so and neither do I despite the Fed’s financial engineering.

Ex Goldman Sachs head derivatives traders Greg Smith’s op-ed in the New York Times caused quite a stir. Labeling the firm as dishonest, unethical and worse.

Stocks fell hard in early trade on economic fears and a resurgence in the Greek debt drama. LPS reports that foreclosure starts and sales jumped dramatically in January despite continued improvement in the delinquency numbers that slipped to 7.97%. Add 4.15% of all mortgages in the foreclosure process and a total of 12.13% of all [...]

Auto sales continue to improve reaching 15.1 million units annualized in January. CoreLogic says negative equity hit 22.8% of all mortgaged properties in Q-4.

B of A stops selling mortgages to Fannie because they lied about their quality and Fannie wants them to buy back their garbage. The oil shock is man made.

Q 1 earnings, 60.4% of the S&P 500 beat estimates. Existing home sales up 4.3% in January, inventory drops to 6.1 months, the median price falls 2% to $154,700.

FHA delinquency reaches 9.9% in January. Q 1 earnings estimates slip to zero, Q 4 looks to disappoint yet stocks continue to rise. The Greeks have a debt deal.

The Greeks pass their austerity bill and the citizenry riots. The results of promises that can not be kept and inequality. More political polarization at home.

The more you look at the fraudclosure settlement the less there is to like. Another pass on accountability reinforces the probability of a repeat in the future.

The state’s AG’s sell us out and settle with the banksters. Once again its all about the 1%, by the 1% and for the 1%. The rest of us get thrown under the bus.