Boom2Bust.com Boom2Bust.com The Most Hated Blog On Wall Street. Boom2Bust.com is an independent financial blog that seeks to warn and educate its readers about the coming U.S. financial crash. Articles
Why Jefferson Is Rolling In His Grave
2008-04-22 05:01:00 Information is the currency of democracy. -Thomas Jefferson (3rd President of the United States. 1743-1826) I?m not aware of the context in which Thomas Jefferson said this. However, the governing body which Mr. Jefferson helped establish should take a cue from this statement. Mark Lieberman, senior economist for the FOX Business Network, wrote earlier today: The ... More About: Grave , Rolling
Quote For The Week
2008-04-22 03:34:00 I own that I am not a friend to a very energetic government. It is always oppressive. -Thomas Jefferson (3rd President of the United States. 1743-1826) Share This More About: Week , Quote
So Cal Housing Market Report
2008-04-18 22:43:00 Crash and burn All the stars explode tonight How?d you get so desperate How?d you stay alive Help me please Burn the sorrow from your eyes Oh, come on be alive again Don’t lay down and die -Hole, ?Malibu? (1998) I think Courtney Love best described the Southern California housing market these days. The reports coming out of there are SO BAD, I ... More About: Foreclosures , Market , Report , Housing
Give Credit Where Credit Is Due, Mr. President
2008-04-18 21:43:00 I caught the following from Reuters this morning: The U.S. government has already taken ?very effective? action to help boost the slumping U.S. economy, President George W. Bush said on Friday in a speech to a U.S. business group. ?We saw this coming … and so we took some action. And I do want to thank members ... More About: Credit , Give
For Whom The Bell Tolls, Part 2
2008-04-17 22:21:00 Earlier today Merrill Lynch & Co. posted its third consecutive quarterly loss and announced it was cutting 4,000 jobs. According to the Wall Street Journal?s Kevin Kingsbury, ?damage from a plunge into risky credit-market activities under its previous chief executive? continues to take its toll on the third biggest U.S. investment bank. ... More About: Bell , Part
Housing Porn
2008-04-17 21:51:00 I?ve been meaning to write something for a while now on the television-based ?housing porn? that blossomed during the U.S. housing boom earlier this decade. Unfortunately, James Poniewozik of Time beat me to the punch. I?m glad he did, because he nailed the phenomenon right on the head. Poniewozik wrote in ?Pimp ... More About: Housing , Bubbles , Homeowners
Crash Prophets
2008-04-17 21:06:00 Since the beginning of Boom2Bust.com, I?ve authored a number of posts that have been categorized under ?Crash Prophets.? While I will continue to do this, please note that posts pertaining to ?prophets? Tom Barrack, Warren Buffett , Jeremy Grantham, Bill Gross, Jim Rogers , and George Soros will only be found on B2B?s sister blog, Investorazzi.com. ...
NBER?s Feldstein Says U.S. In Recession
2008-04-17 06:59:00 Back on March 18, I wrote that Martin Feldstein, a Harvard economics professor, former Reagan advisor, and president of the National Bureau of Economic Research (which determines the dates of a recession), said the United States is in a recession that could be ?substantially more severe? than recent ones. Earlier today, Dr. Feldstein told ... More About: Economy , Inflation , Interest Rates , Housing , Federal Reserve
Leading Bank CEOs Say Credit Crunch Nearly Over
2008-04-17 06:11:00 Earlier today I wrote about how some believe the U.S. housing slump may soon be over. Now, some are saying the credit crunch may be over as well. Bloomberg?s Josh Fineman wrote today that prominent banking executives Jamie Dimon, Richard Fuld, Lloyd Blankfein, and John Mack are saying the credit-market contraction is almost ... More About: Credit , Housing , Mortgages , Bank , Crunch
Weird Housing Tales, Part 7
2008-04-16 21:37:00 Here?s one casualty of the U.S. housing crisis that no one talks about: Marriages. Don Moore from divorce360.com wrote an article that appeared in MSN Money today, and said that experts believe an increase in the number of divorces may be related to escalating mortgage payments. Nicolas Retsinas, the director of Harvard University?s ... More About: Weird , Foreclosures , Housing , Tales , Mortgages
What Housing Bust?
2008-04-16 20:36:00 Lately, I?ve noticed the desperation permeating the U.S housing market has given way to a bit of optimism. Case in point, according to a Reuters/Zogby poll released yesterday, a majority of Americans think now is a good time to buy a home. The survey of 1,049 likely voters revealed that 53.8% thought that ... More About: Housing , Bust , Mortgages , Bailout
Maintenance And Upgrades
2008-04-14 23:34:00 There will be no posts today or Tuesday due to much-needed maintenance and upgrades. Your patience is appreciated. Christopher E. Hill Editor Share This More About: Maintenance , Upgrades
Weird Housing Tales, Part 6
2008-04-14 04:08:00 Earlier today I happened to catch this snippet from Chicago Tribune real estate columnist Mary Umberger: The boom-boom room A real estate agent in Alexandria, Va., was checking out a home for sale when he noticed something affixed to a basement window. It was a hand grenade, apparently put there to thwart burglars by the late ... More About: Weird , Housing , Tales , Part
Quote For The Week
2008-04-14 03:30:00 You?ll know that the bubble-besotted housing culture has really changed when the home channels stop focusing on houses as commodities to flip, invest in or date and start looking at them as places to live in. At that point, it may finally be time to buy. -James Poniewozik, who talked about the housing boom and home shows ... More About: Week , Quote
The Future Ain?t So Bright
2008-04-11 14:20:00 I?ve got a job waiting for my graduation Fifty thou a year — buys a lot of beer Things are going great, and they?re only getting better I?m doing all right, getting good grades The future?s so bright, I gotta wear shades -Timbuk3, The Future ?s So Bright I Gotta Wear Shades (1986) Anyone remember this late eighties anthem of college graduates? ... More About: The Future , Federal Reserve
Signs Of The Time, Part 12
2008-04-11 13:41:00 Ever hear of Serendipity 3, New York City?s first coffee house boutique? Well, this establishment, located in Manhattan?s Upper East Side, boasts a dessert listed in the Guinness Book of World Records. In 2004, Serendipity 3 celebrated their 50th anniversary by introducing the Golden Opulence Sundae, which costs $1,000 and requires 48 hours ... More About: Time , Signs , Part , The Time
Be Prepared
2008-04-11 05:15:00 Tonight I read a great article in the April 6 issue of the New York Times. Alex Williams wrote about the topic of survivalism, and how it?s no longer being associated with ?fringe? elements of American society. The Times reporter wrote: Survivalism, it seems, is not just for survivalists anymore. Faced with a confluence of ...
Some On Wall Street Think Recession May Be Over
2008-04-11 04:10:00 I am not one to joke about medical afflictions. As such, I am quite serious when I suggest that some on Wall Street should be tested for adult attention-deficit disorder, after reading a piece by CNN Money senior writer Alexandra Twin earlier today. Twin wrote: Despite overwhelming signs that the economy is now in ... More About: Economy , Stocks , Credit
WSJ Survey: U.S. Economy In Recession, Further To Fall
2008-04-10 23:55:00 The Wall Street Journal?s Phil Izzo talked about the latest Journal forecasting survey of 55 economists. Izzo wrote: The weakening U.S. economy has further to fall, according to the majority of economists in the latest Wall Street Journal forecasting survey. By a 3-to-1 margin, respondents said the economy is in a recession, and almost three quarters ... More About: Economy , Credit , Interest Rates , Survey , Employment
Twin Deficits, Twice The Pain
2008-04-10 22:47:00 It was all bad news today with the release of the latest data on the ?twin deficits?— the U.S. budget and trade deficits. The Associated Press reported Thursday that the federal deficit through the first half of the budget year is at an all-time high. The U.S. Treasury Department said Thursday that the ... More About: Congress , Government , President Bush , Pain , Twin
Treasury Secretary: U.S. Economy Has ?Turned Down Sharply?
2008-04-10 21:45:00 Earlier today, U.S. Treasury Secretary Henry Paulson said the U.S. economy has ?turned down sharply.? This follows the comment on April 2 by Fed Chairman Ben Bernanke, who said, ?Recession is possible.? MarketWatch?s Greg Robb wrote: These comments are his most downbeat description of the economy to date. Paulson has avoided saying the ... More About: Economy
New Report Confirms Labor Market Shedding Jobs
2008-04-08 18:33:00 In a post from yesterday, I talked about how some economists are predicting a deteriorating U.S. economy will take a significant toll on employment (6% jobless rate; 2 million lost jobs). Today, Kelly Evans wrote a post in the Wall Street Journal?s Real Time Economics blog that discussed the findings of the latest Job ... More About: Market , Jobs , Report , Labor
Economists Predict 6% Jobless Rate, 2 Million Lost Jobs
2008-04-08 00:47:00 Earlier today I read an interesting article that discussed the U.S. employment outlook and which jobs may or may not be good bets in a deteriorating economy. Martin Crutsinger of the Associated Press wrote: While the downturn is expected to be short and mild, economists are still forecasting the unemployment rate, which jumped to 5.1 ... More About: Economy , Education , Lost , Government , Realtors
Signs Of The Time, Part 11
2008-04-07 23:58:00 You know American homebuilders are facing tough times when one of their affiliated organizations must sell their headquarters due to a lack of funds. According to the Associated Press yesterday, three years after moving into its new $3.5 million headquarters, the Home & Building Association of Greater Grand Rapids is selling the building. ... More About: Time , Signs , Housing , Part , The Time
Quote For The Week
2008-04-07 23:31:00 Let Wall Street have a nightmare and the whole country has to help get them back in bed again. -Will Rogers (American entertainer. 1879-1935) Share This More About: Week , Quote
Stop The Housing Bailout
2008-04-04 22:05:00 Recently, you may have noticed a button on my sidebar which says ?Stop the Mortgage Bailout .? The button links to a website (hosted by NationalBubble.com) that is ?dedicated to stopping the government?s planned bailout of the housing market.? According to an e-mail I received from those spearheading the effort, the site was ?designed ... More About: Taxes , Housing , Homeowners
Analysts: Gas May Soon Cost $4 Per Gallon
2008-04-03 20:43:00 Speaking of the high cost of gas these days, the Associated Press? John Wilen said today that gasoline prices extended their record run at the pump. He wrote: At the pump, the national average price of a gallon of gas rose 0.2 cents overnight to $3.289 a gallon, according to AAA and the Oil Price ... More About: Barack Obama , Commodities , Energy , Cost
Signs Of The Time, Part 10
2008-04-03 18:59:00 Bad news, NASCAR fans. Looks like the slowing economy and high gas prices are starting to take its toll on the automotive sport. Auto Racing Daily ran a story today with the headline ?US Economy , Gas Prices Causing Financial Pain In NASCAR,? and said: I hope this isn?t the beginning of the end for ... More About: Time , Signs , Gasoline , Part
U.S. Home Prices May Not Recover Until 2010
2008-04-03 17:02:00 This Tuesday, Kevin G. Hall of the San Luis Obispo Tribune wrote that one of the nation?s top housing economists is predicting home prices in the United States will not recover until at least 2010. Hall wrote: Speaking to the National Economists Club, Frank Nothaft, the chief economist for government-sponsored mortgage buyer Freddie Mac, painted ... More About: Foreclosures , Home , Housing , Mortgages , Prices
The Fairytale Of Manhattan Real Estate
More articles from this author:2008-04-02 22:08:00 Real estate analysts have been keeping a close eye on the New York City real estate market—- specifically, Manhattan. While housing woes continue to pummel the West and other areas of the United States, Manhattan has avoided the slump, despite 34,000 lost jobs in the financial sector over the past nine months and over ... More About: Estate , Real Estate , Wall Street , Housing , Real 1, 2, 3, 4, 5, 6, 7 |
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