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 U.S. Home Prices May Continue To Fall
2008-03-13 17:25:00 Yesterday, it was the CEO of mortgage buyer Freddie Mac, Richard Syron, who made waves in the U.S. housing industry when he predicted home prices have much further to fall. Robert Schroeder of MarketWatch wrote: Speaking to analysts on a conference call, CEO Richard Syron estimated that housing prices, from peak to trough, have dropped ... More About: Home , Fall , Prices
Some Hedge Funds On The Verge Of Blowing Up
2008-03-13 15:40:00 I read some time ago that quite a few MBA students aspired to work for hedge funds when they graduated. Sounds good. I just hope they also have a ?Plan B? figured out. According to Suzy Jagger of The Times (UK) this morning: Several hedge funds with assets of more than $4 billion ... More About: Hedge , Funds
New $5 Bill Comes Out Today
2008-03-13 14:41:00 Today, a new $5 bill goes into circulation. The re-designed note still retains the portrait of Abraham Lincoln, the 16th U.S. President, on the front and the Lincoln Memorial on the back. As I write this, the Federal Reserve is shipping the bills to banks, which will then send them on to ... More About: Dollar , Today , Currencies , Bill
U.S. Housing Glut Gets Worse
2008-03-11 22:49:00 As the air escapes from the U.S. housing bubble, it?s been hoped that after rising rapidly since 2005 the inventory of unsold homes in the United States would decline after leveling off in recent months. However, the Wall Street Journal reported this morning that the number of unsold properties for sale in major metropolitan ... More About: Housing , Bubbles
U.S. Government Report Suggests U.S. May Enter Recession In 2008
2008-03-11 22:07:00 According to the Financial Times (UK) today, ?A US government report on Tuesday forecasted for the first time that the country?s economy would enter recession in 2008.? Javier Blas, a Times commodities correspondent, wrote: The Energy Information Administration, the statistical arm of the Department of Energy, said in its monthly oil report that the ?US real ... More About: Economy , Government , President Bush , Report , Politicians
War Declared On Offshore Tax Havens, Part 2
2008-03-11 19:54:00 Earlier today I wrote a post about how governments around the world, faced with the possibility of a global economic slowdown, are cracking down on offshore tax havens used by their citizens. In fact, the Organization for Economic Cooperation and Development (OECD), which attempts to coordinate economic policies among the world?s 30 richest nations, ... More About: Economy , Part , Offshore , Recession
War Declared On Offshore Tax Havens
2008-03-11 18:12:00 Faced with the possibility of a global economic slowdown, governments around the world are cracking down on offshore tax havens used by their citizens. Last Friday, MarketWatch said: Tax-dodgers, beware: The world?s leading havens for secret stashes of money face an all-out assault, as governments wary of leaner times grow more eager to snare levies ... More About: Economy , Government , Taxes , Offshore , Recession
The Return Of Dr. Doom
2008-03-11 02:49:00 In last Thursday?s post I talked about a Bloomberg interview with Marc Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom & Doom Report. ?Dr. Doom,? as the press likes to call him, had some dire warnings for the Bloomberg TV audience on the U.S. economy. On Friday, MarketWatch ... More About: Economy , Dollar , Federal Reserve , Return , The Return
The Housing Bubble Music Video
2008-03-11 01:22:00 Earlier today I came across an interesting post from the Wall Street Journal?s ?Developments? Blog. Lauren Baier Kim talked about how a former home appraiser, Dave Girtsman, of Ventura, California, created a music video depicting a reckless homeowner during the U.S. housing craze. Kim wrote: Mr. Girtsman was employed as a home appraiser from ... More About: Video , Music , Music Video , Housing Bubble , Housing
JPMorgan Chase Warns Of Systemic Margin Call, 30% Home Price Decline
2008-03-11 01:13:00 On Saturday, Reuters reported that Wall Street banks may be subject to a ?systemic margin call? that might deplete the financial institutions of $325 billion of capital, as subprime mortgages continue to deteriorate, JPMorgan Chase & Co. said in a report late Friday. After Thornburg Mortgage Inc. received a default notice after the lender ... More About: Economy , Credit , Home , Employment , Housing
Signs Of The Time, Part 5
2008-03-10 04:51:00 Move over baseball. Suing is now the national pastime. And it?s getting more ridiculous as personal accountability becomes increasingly endangered in America. Consider the following from MarketWatch this morning: Ex-lawyer sues casinos over gambling compulsion TEL AVIV (MarketWatch) - A former lawyer and media commentator who lost nearly $1 million from gambling is claiming ... More About: Time , Signs , Part , The Time
Quote For The Week
2008-03-10 03:28:00 There is nothing more frightening than active ignorance. -Johann Wolfgang von Goethe (German writer. 1749-1832) Share This More About: Week , Quote
?Dr. Doom? Gloomy On U.S. Economy
2008-03-07 01:20:00 Yesterday, Marc Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom & Doom Report, spoke to Bloomberg?s Brian Sullivan from Chicago about the state of the U.S. economy, Federal Reserve monetary policy, and the outlook for stocks, bonds, and commodities. Dr. Faber, also known as ?Dr. Doom? by the press, ... More About: Economy , Commodities , Bonds
Taxpayer Bailout For Distressed Homeowners Right Around Corner?
2008-03-05 23:45:00 Earlier today, Bloomberg?s John Brinsley talked about how U.S. Treasury Secretary Henry Paulson may find it necessary to revise his strategy for dealing with record U.S. home foreclosures after Federal Reserve Chairman Ben Bernanke urged lenders to forgive portions of some loans. Bernanke, in a speech yesterday to bankers in Orlando, Florida, called for ... More About: Congress , Government , Foreclosures , Corner
The Mess That Dubya Made?
2008-03-05 22:25:00 Is it fair to blame the White House for our country?s economic woes? I mean, just how much influence does the President of the United States wield over the economy? I had always thought that their influence was extremely limited in scope. Whether this belief is right or wrong, I do know ... More About: Economy , Employment , Made , Dubya , Mess
?All Economics Is Local?
2008-03-05 17:38:00 Yesterday, Barbara Hagenbaugh in USA Today talked about the significance of assessing the U.S. economy on a state-by-state basis. She wrote: Despite the recent onslaught of negative news, it remains unclear whether the current state of affairs meets the economists? definition of a recession: a widespread decline in economic activity lasting more than just a ... More About: Economy , Economics , Local , Recession
Economic Crunch (The Ice Cream)
2008-03-04 18:41:00 I?m a sucker when it comes to ice cream. I absolutely love it, even when it?s freezing outside. While I never turn away any kind of ice cream (?give it to Mikey, he?ll eat anything?) I often eat Ben & Jerry?s Ice Cream from Vermont. According to their website, Ben Cohen and ... More About: Economy , Stocks , Credit , Wall Street
New Blog!
2008-03-04 03:37:00 In case you?re wondering why it?s been a little slow on Boom2Bust.com lately, it?s because I?ve been putting the finishing touches on a new weblog called Investorazzi.com, ?Tracking The World?s Greatest Investors.? From my first post earlier in the day: Welcome to Investorazzi.com, a new financial weblog that tracks the investment activities of the world?s ... More About: Warren Buffett , Blog
Quote For The Week
2008-03-02 17:17:00 The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson. -Franklin Delano Roosevelt (32nd President Of The United States. 1882-1945), in a letter written November 21, 1933, to Colonel Edward Mandell House. Share This More About: Week , Quote
Consumer Sentiment: Half-Full Or Half-Empty?
2008-03-01 00:13:00 One event. Two different interpretations. Is consumer sentiment improving, or getting worse? I?ll let you decide? ?US late Feb Reuters /Michigan consumer sentiment rises to 70.8 UPDATE? Forbes, February 29, 2008 Consumer sentiment, as measured by the Reuters/University of Michigan index, rose more than expected to 70.8 in late February from a reading of 69.6 in ... More About: Economy , Surveys , Unemployment
UBS Predicts $600 Billion Loss From Credit Crunch
2008-02-29 23:23:00 On Friday it was reported that analysts from UBS AG, Europe?s second largest bank, were predicting total industry losses from the ongoing credit crunch would reach $600 billion, with banks and brokers accounting for $350 billion of these losses. MarketWatch?s Steve Goldstein said earlier today that financial firms have been forced to write-down approximately ... More About: Economy , Credit , Freddie Mac , Loss , Crunch
Dallas Fed Director: ?High Oil Prices Here To Stay?
2008-02-28 22:42:00 On Tuesday, MarketWatch?s Stacey Delo interviewed Stephen Brown from the Federal Reserve Bank of Dallas while he attended the Clean Tech Forum in San Francisco. Brown, the Dallas Fed?s Director of Energy Economics and Microeconomic Policy Analysis, told MarketWatch that high oil prices are here to stay. He predicts that the price will ... More About: Economy , Commodities , Oil
Recession? Send In The Fashion Police
2008-02-28 18:39:00 Hell must have frozen over. Who would have ever thought that fashionistas would be discussing such ?mundane? topics as the U.S. economy and recessions— unless, that is, they were involved in the business side of things? Yet, I?ve started to detect some of this chatter in world of fashion. Of course, just ... More About: Economy , Fashion , Credit , Energy , Dollar
Former Clinton Official Says U.S. In Recession, Will Be ?Severe?
2008-02-28 17:03:00 On Tuesday, Nouriel Roubini, chairman of Roubini Global Economics LLC and former Treasury Department director in the Clinton administration, spoke with Bloomberg?s Michael McKee and Deirdre Bolton from Washington about Federal Reserve Vice Chairman Donald Kohn?s comments that day, the outlook for a U.S. recession, and the housing market. Dr. Roubini said the United ... More About: Economy , Official , Recession
Tide Turning On Manhattan Real Estate?
2008-02-27 17:43:00 Until recently, Manhattan , an island borough of New York City and the most densely-populated county in the United States, appeared to have weathered the housing bust sweeping across the United States. In the fourth quarter, the average price of a Manhattan apartment soared 17.6% from a year earlier to $1.44 million, according to Prudential ... More About: Estate , Real Estate , Real , Tide
Tough Times For U.S. Banks And Thrifts
2008-02-27 06:46:00 Earlier today, data compiled by the Federal Deposit Insurance Corporation showed profits at federally-insured banks and thrifts plunged to a 16-year low in the fourth quarter as these institutions set aside a record-high amount to cover losses from bad mortgages. According to Associated Press business writer Alan Zibel, profits declined as major Wall Street ... More About: Credit , Banks , Mortgages , Times , Tough
A Nation Of Idiots?
2008-02-19 19:18:00 Consider the one in five American adults who, according to the Nation al Science Foundation, thinks the sun revolves around the Earth? -Susan Jacoby, ?The Dumbing of America? On the heels of last Friday?s post, I happened to read an article last night from the Washington Post entitled ?The Dumbing of America.? On Sunday, Susan Jacoby, author ... More About: Idiots , Main Street
Hold The Boob Job, Please
2008-02-19 00:59:00 On Valentine?s Day, Reuters? Debra Sherman wrote in ?Weak U.S. economy cutting into vanity business? that a weakening economy is affecting the American vanity industry, where vision correction procedures are down, as well as other cosmetic treatments and surgeries. Industry analysts believe that while an economic downturn would have to be severe before Americans ... More About: Economy , Hold , Consumers , Boob
Bank Of America Chief: ?Even Chance? U.S. In Recession
2008-02-18 23:10:00 Last Thursday, the Charlotte Observer reported that Bank of America ?s chief executive Kenneth Lewis told an audience at North Carolina State University that there is an ?even chance? the U.S. is already in a mild recession, according to prepared remarks. The publication also said that last month the head of the Charlotte bank predicted ... More About: Economy , Credit , Chief , Chance
Latest U.S. Economic Forecast: Apocalypse
More articles from this author:2008-02-18 17:53:00 Peter Brimelow from MarketWatch talked about Harry Schultz, the highest paid investment consultant in the world, and his International Harry Schultz Letter this morning. For those of you not familiar with Mr. Schultz, I wrote about him back on December 13: Have you ever heard of Harry Schultz? I sure have, and to this ... More About: Economy , Credit , Depression , Gold , Inflation 1, 2, 3, 4, 5, 6, 7 |
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