Tuesday, July 23, 2013

Boomers Have Their Backs Against the Wall

October 15, 2009 by · Leave a Comment 

The Daily Reckoning Two important items in the news today: First, Bloomberg reports that retails sales fell 2.1% in September – the biggest decrease this year. Know what that means? It means the “Age of Thrift” is here…and that consumers really are cutting back – just like we said they would. And it means that [...]

Housing Bubble Bust

July 8, 2009 by · Leave a Comment 

Bullion Vault Losses on bad US mortgages are barely one-third through… The U.S. HOUSING BUBBLE was one for the ages. We’ve all heard stories of one kind or another, writes Chris Mayer of the Capital & Crisis newsletter. There was the glass cutter who earned $5,000 per month, pretax. WaMu gave him a $615,000 home [...]