CPI at .1% Annually, Smallest Increase Since 1954

Even without properly accounting for housing which would drive the CPI hugely negative, the 2008 U.S. Consumer Price Gains Slow to 0 ... and energy, costs were unchanged. Today’s report underscores the destruction of companies’ pricing power ... debts harder to pay off. Federal Reserve Bank of San Francisco President Janet Yellen warned [more...]

Date: 2009-01-16 17:33:27

Blog posts (583) | Videos (63)
 

DrumBeat: December 4, 2008

The Peak Oil Crisis: July 2008 – A Month To Remember Most students of the subject at first thought that world oil production was going to peak for ... Lynch & Co. said in a report today. U.S. fuel demand during the four weeks ended Nov. 28 was down 6.2 percent from a year earlier, an Energy Department report showed yesterday. “We’ve got the U.S [more...]

Date: 2008-12-04 14:07:31

It’s Payback Time

From the Pioneer Press’ Inver Grove Heights Police Calls: I always heard old people drive tanks, but here’s the proof: Hit-and-run accident: ... him down, and he said he didn’t think there was any damage to the truck. He said he’d pay for the damage. I guess I should think twice before confronting someone over line jumping: Theft of credit [more...]

Date: 2009-01-16 17:04:42

Trying to be Politically Correct.

In North Florida, we called them “Trailers”. In Maryland, I was corrected. They called them “Mobile Homes” ... to know the price ranges. We knew that our credit report would come up as “DANGER, DANGER!” so we figured ... : It seems, Mr. Our-Last-Name, you don’t have a credit report. Mark: Um. What? Salesman: Nothing [more...]

Date: 2009-01-08 15:58:37

KCB and Triton

KCB has been rather silent on the Triton matter even as the company’s share price took a mini hit and its profitability outlook was downgraded in ... of a Sustainability Report of the group. It’s not online yet, though it will be, an interesting report with lots ... on responsible lending requires that the KCB audit committee meets twice a month, credit co [more...]

Date: 2009-01-17 11:59:00

Check Credit.

In my opinion, owning credit cards are advantageous in these difficult economic times..but ONLY if you are a responsible and disciplined user ... or loan makers, there’s this site that can help you know your score. This credit report is based ... transaction that involves credit activities. At checkcredit.pro, you’d be able to request instant [more...]

Date: 2008-11-06 10:11:14

0% APR, Same As Cash, and No Interest No Payments. Upon closer reading of the final rules adopted by the federal regulators in December, ... t included in the highlights, news media like New York Times and Wall Street Journal didn’t report ... decisions regarding the cost of using credit. Accordingly, the Agencies conclude that an exception [more...]

Date: 2009-01-08 02:19:07

How Much Do You Make? (Getting To Know Readers)

You guys and gals are always reading about my spending habits and you know that I do not make much money (yet!!!!) but I do not know about you. The question of the day is How Much Do YOU Make ? Please leave an Anonymous comment stating your: Age (range is fine) Income (range is also fine) Industry I am just curious and I am sure we all want to know. Please make sure you list yourself as Anonymous and DO not put your email address in the email field. [more...]

Date: 2009-09-30 11:15:13

Derivatives and human hubris.

Learning of the kinds of exotic instruments used by Wall Street in the years before the crash can be a mind-boggling experience ... sums of “paper wealth” they produced. AIG and other firms sold credit default swaps in such massive numbers that there was at one point insurance on over $60 trillion in credit. In other words [more...]

Date: 2008-12-24 15:32:03

A Ph.D. In Loss

A report from Oregon Public Radio. “In the last several years high-end resort communities have sprung up across the West. But those destination resorts are suffering big time under the housing slump and credit crunch ... Boomers were looking for vacation homes. Getting credit was easy and there was a huge rush in real [more...]

Date: 2008-11-18 21:21:40

Could It Be ….. Recovery? If So, Hurry Up Already

I’m starting to like this 78-day presidential transition period more and more. That’s because in another 30 days or so, the economy might (emphasis might) generate sufficiently convincing evidence that it’s fixing itself. Of course it’ ... freeze” on credit to worthy borrowers has struck me as absurd for the three months. The reported [more...]

Date: 2008-12-18 17:29:55

How Bad Will The Bush Depression Be?

It looks like Bush is racing in his final days as occupant of the White House to see if he can beat Herbert Hoover's economic record as the most ... to the worsening credit crisis. That has put pressure on Congress and the White House to come ... to predicting that if GOP extremists are allowed to force the auto manufacturers into bankruptcy [more...]

Date: 2008-12-05 20:30:00

What's It Going to Take to Lock Up Drug Company Execs?

A recent article in the New England Journal of Medicine reveals the shocking extent of how corrupt drug companies are. "Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through." - Jonathan Swift After reading "The Neurontin Legacy -- Marketing through Misinformation and Manipulation" in the January 8, [more...]

Date: 2009-01-16 23:59:01

Looks like another financial tsunami is coming!

Photo by Faces of California The deterioration in economic and corporate data continues ... and with manufacturing operations outside of Singapore.   Demand is bad and orders and indicative orders are being cut ... is declining in value) as customers cancel orders.  Bank and other supplier credit lines are being cut… [more...]

Date: 2009-01-15 04:05:14

Flashback: Bank of America launches credit card for illegal immigrants - USATODAY.com

Any wonder Bank Of America is now Belly Up? Well, it's bankrupt just like the mortgage industry thanks to their ignorant and greedy anti American policy instituted to "aid undocumented workers in building their credit"! This latest of bailouts ... that liberals lauded as a great thing you'll remember I'm sure:Bank of America launches credit card [more...]

Date: 2009-01-17 06:06:00

Gates of Vienna News Feed 1/2/2009

In tonight’s news: Israel is poised to send ground troops into Gaza.A Muslim family was removed from a plane before takeoff, and is being compensated by the airline for the error. CAIR is in high dudgeon about the incident.Thousands of shoes were dumped on a Miami expressway — is that a message for President-eject Bush? [more...]

Date: 2009-01-03 04:42:00

USA Today Shifts Corruption Focus from Illinois - to North Dakota?

You can just see the scene from the Wizard of Oz, where the wizard says ‘Pay no attention to the man behind the curtain.' When it comes to diverting attention from a scandal plagued home state, don't worry Senator Obama, USA Today has your back. In a bizarre demonstration of spinning numbers with the sole purpose of getting people to look away [more...]

Date: 2008-12-12 05:25:22

Tax Preparation Tips

by William Blake When it comes time to prepare annual income taxes, many people have to sort through piles of disorganized receipts and try to make sense of them. Regardless of whether you will be doing your taxes yourself or you hire someone else to do them, getting things in order ahead of time will make the entire process easier [more...]

Date: 2009-01-17 12:56:28

GM and Chrysler get US$17.4 billion bailout

They’ve done it, the Detroit boys have managed to secure federal emergency loans to execute their plans to stay afloat ... stock, firms must accept limits on executive pay and eliminate perks such as corporate jets, debt owned ... by law, firms must allow the government to examine their accounting books and records, firms must report [more...]

Date: 2008-12-21 09:09:13

Highlights and Lowlights of BofA’s Earnings Call

Bank of America moved its earnings announcement up to this morning to soothe investors after The Wall Street Journal’s report that BofA would need ... and $27 billion in credit costs. Many of the problems originated at Merrill Lynch, which had a loss ... Goldman Sachs research analysts noted wryly in a research report this morning. BofA CEO Ken Lewis [more...]

Date: 2009-01-16 16:01:30

Republic Windows Takes A Stand By Taking A Seat

The story of Republic Window and Doors started quietly last week, when Bank of America informed the company, located on Chicago's Goose Island, that it had canceled their $5 million line of credit. Then came the rumble. Republic's executives ... -- is refusing to extend credit to manufacturers like Republic while at the same time putting [more...]

Date: 2008-12-07 19:26:00

Gates of Vienna News Feed 1/4/2009

The overwhelming evidence of global warming continues to accumulate — as does the level of ice and snow in Greenland’s central ice cap, which increases at a rate of about two inches a year.Shhh! Don’t tell Al Gore…Thanks to Abu Elvis, Barry Rubin, C. Cantoni, heroyalwhyness, JD, Lexington, LN, RRW, VH, and all the other tipsters who sent these in [more...]

Date: 2009-01-05 04:27:00

How to Set New Year’s Financial Resolutions You Can Keep

(source) Every year it’s the same old story. You start with the best of intentions but somehow never manage to fulfill your New Year’s ... months. Maintaining good credit is an important foundation for achieving the rest of your financial goals. So start by finding out where you currently stand with a credit report from CreditReport.com [more...]

Date: 2009-01-02 19:55:16

How to Set New Year’s Financial Resolutions You Can Keep

(source) Every year it’s the same old story. You start with the best of intentions but somehow never manage to fulfill your New Year’s ... months. Maintaining good credit is an important foundation for achieving the rest of your financial goals. So start by finding out where you currently stand with a credit report from CreditReport.com [more...]

Date: 2009-01-02 19:55:16

Beige Book’s Midwestern Summary

From the Federal Reserve’s Beige Book (HTML, PDF). Economic activity in the Seventh District declined further in December, ... market conditions weakened. Construction declined, and manufacturing activity moved lower. Credit ... . In agriculture, field work was limited in December by bad weather. Consumer Spending Consumer spending [more...]

Date: 2009-01-15 01:00:38

Turning Japanese I really think so

As most of you probably already know, with the "effective" Fed funds rate much closer to zero percent than to the one percent prescribed by the " ... bets that are bound to inflate another asset class eventually. As discussed in this report ... not affect the rate banks actually pay. Normally, the Fed keeps the funds rate on target by draining [more...]

Date: 2008-11-16 21:20:31

To p2pnet — ‘You’ll be sorry!’

p2pnet news view Freedom | P2P: “You a fucking washed out loser. You can not make a living in any other way except by running a site which says it is a new site that which is nothing but you shooting your mouth off.” That’s part of several emails I found waiting for me following yesterday’s Trolls? Not. But flames? OK (mostly) [more...]

Date: 2008-11-23 15:27:24

It's Not The Cheese That Costs so Much

I admit that I can still be astonished. When I watched '60 Minutes' last night I saw a big surprise report that I was right all along about oil ... and the amount of use the car got. The oil industry executives gave elaborate excuses in hearings on what was destroying family finances, credit and prices of absolutely everything [more...]

Date: 2009-01-12 19:28:09

Republican Study Committee Proposes Ineffective Tax Cuts, Destructive Spending Reduction For Stimulus

yesterday, which Matthew Yglesias noted is a “barrel full” of permanent tax cuts. Today, Rep. Eric Cantor (R-VA) ... to do with the taxes they may pay in the future and everything to do with a fear of losing money because there is no demand in the economy, asset prices are highly volatile, and credit is hard to come [more...]

Date: 2009-01-14 23:20:45

The Home That Was To Be Their Nest Egg

ABC 7 News reports from California. “Monday was just another day at Marsh Creek Elementary in Brentwood. School keeps kids focused on things other than the housing slump which has devastated this community. Just a few miles away is the City of Oakley where 620 homes so far this year have been lost to foreclosure [more...]

Date: 2008-12-03 18:28:57

How To Get Your Free Government Credit Report

How To Get Your Free Government Credit Report by Andy ZainBy law, you are entitled to one free government credit report each year, but you have to apply to get it. The consumer reporting companies are covered by the Fair Credit Reporting Act to ensure privacy and accuracy.Contained in your credit report is personal information like how you pay your bills, any arrests, bankruptcies or legal actions, as well as your full name and address. [more...]

Date: 2009-09-30 08:17:23

Sellers of Tribune CDS Protection Face Large Payout

Hmmm Matthew Cowley reports: The dire conditions facing media companies were highlighted by this week’s auction to settle credit derivatives contracts written on bonds and loans of Tribune Co. Investors who sold insurance protection ... . The auction result for Tribune loan credit default swaps, or LCDS, was only slightly better, setting [more...]

Date: 2009-01-07 09:50:00

Sellers of Tribune CDS Protection Face Large Payout

Hmmm Matthew Cowley reports: The dire conditions facing media companies were highlighted by this week’s auction to settle credit derivatives contracts written on bonds and loans of Tribune Co. Investors who sold insurance protection ... . The auction result for Tribune loan credit default swaps, or LCDS, was only slightly better, setting [more...]

Date: 2009-01-07 09:50:00

Victoria Strauss -- Why You Shouldn't Write for Essay Mills

I get a fair number of questions from writers wondering whether essay mills are legitimate freelance markets. My response: Caveat writer. Big time.What's an essay mill? A website where customers can buy term papers, research papers, and/or dissertations, and writers can (theoretically) be paid for writing them. There are scores of these sites [more...]

Date: 2008-12-11 17:15:00

Alcoa lays off 15,000, US economy moves toward depression

By Tom Eley Less than one week into 2009, new economic data indicate the US will not quickly rebound from the crash of 2008 ... , or about 14.5 percent of its workforce. It will also cut capital expenditures by 50 percent, freeze ... of Labor’s report on unemployment, which is to be released Friday. According to a Reuters poll [more...]

Date: 2009-01-07 20:15:40

The Mini Depression and the Maximum-Strength Remedy

This is not the Great Depression of the 1930s, but nor is it turning out to be merely a bad recession of the kind we've experienced periodically over ... now is not the supply of credit. Yes, Wall Street is paralyzed at the moment because the bursting ... loans. But even if credit were flowing, those loans wouldn't save jobs. Businesses want to borrow [more...]

Date: 2008-11-09 15:02:00

I Need Help … My Mortgage is Upside Down

Every homeowner struggling with their payments is making the decision of maintaining increased payments or face foreclosure ... . Your still alive right?When was the last time you reviewed your credit report?  Well then you clearly must ... . The latter has a high risk of derogatory credit and foreclosure. So the burning question [more...]

Date: 2009-01-14 10:08:59

Ctrl BG: A Shortcut to Financial News 11/21

It's been another exciting week! Almost comparable to that week in September/October, except no major banks collapse (yet) ... and some don't expect it to be profitable in 2009 as they worry about Citi's exposure to credit card/mortgage ... Buffet), as Citi shares broke the $5 point that day (a 13 year low). This is a very dangerous level [more...]

Date: 2008-11-22 04:32:00

RIGHT ON!

I want to bring your attention to a recent post from a fellow tax blogger, Chad Bordeaux of PERIODIC RAMBLINGS OF A CPA, ... correctly, that (the highlights are mine) “a third of all taxpayers pay no income tax - projected to increase to 44% under President-Elect Obama's plan {according to a report from the Tax Foundation – [more...]

Date: 2009-01-14 10:00:02

Afternoon Reading: An Auto Bailout and CEO Commuters

Give Detroit’s Big Three credit, they at least learned from one past mistake ... U.S. News & World Report. But there might be another reason for the secrecy: “The only hybrid vehicles ... & Inquisitions has tips for writing a cover letter that won’t sink your chances. Paul Kedrosky writes [more...]

Date: 2008-12-02 09:46:00

Rod Blagojevich and Barack Obama: Paying to Play?

Cross-posted by Maggie at Maggie’s Notebook Illinois Governor Rob Blagojevich Photo credit: Daylife First, a disclaimer: ... that Blagojevich put a ‘for sale’ sign on the naming of a United States senator; involved himself personally in pay ... selling a Senate seat: “The Board Games,” “Pay to Play,” and “The Illinois Combine” will become [more...]

Date: 2008-12-09 22:39:15

DrumBeat: December 29, 2008

Gazprom, Once Mighty, Is Reeling MOSCOW — A year ago, Gazprom, the Russian natural gas monopoly, aspired to be the largest corporation in the world. Buoyed by high oil prices and political backing from the Kremlin, it had already achieved third place judging by market capitalization, behind Exxon Mobil and General Electric [more...]

Date: 2008-12-29 14:06:30

Recognizing a Credit Repair Scam

by David Wada Everyday, companies target consumers who have poor credit histories with promises to clean up their credit report so they can get a ... and someone else has your money. If you see a credit repair offer, heres how to tell if the company behind it is up to no good: * Before they provide any credit repair services, the company wants [more...]

Date: 2009-01-16 06:24:58

Recession Gets Worse - The Fix Won’t Kill Ya

Recessions have a ripple effect on countries. Problems that start in one sector quickly spread to another ... and the real estate bubble, is now affecting job (the highest unemployment level in 16 years), credit ... released a report today highlighting the crisis. Here’s the key finding: Nationally, to maintain [more...]

Date: 2009-01-09 22:08:39

The Danger Of Jindal-- Guest Post By Stacey Tallitsch

Bobby Jindal-- he does a mean exorcismHere at DWT we first came across Stacey Tallitsch when he was running for Congress in Louisiana's first ... report:It is really gratifying seeing the GOP in such disarray, and I too want that feeling to last a very long time. But, at the risk of being a buzz-kill, the one we really need to pay attention [more...]

Date: 2008-11-19 20:00:00

Bradley Schlozman’s Department of Just UsTwo hundred and ten pounds of irony reigned over Civil Rights Division at the Department of Justice until 2007.   A just released internal report at DoJ found Bradley Schlozman worked furiously ... that will not be prosecuted.  And I’d like to credit DOJ for cleaning it’s own closet, but this went [more...]

Date: 2009-01-14 11:54:43

The End of Large-Bank Wholesale Lending - Time For the Mortgage Banker

The End of Large Bank Wholesale Lending - A Resurgence of Middle Market Mortgage Banking – Chase…a Leading Indicator This week Chase shut down ... t effectively manage its pipeline of locked and in-process loans. Of note, Credit Suisse recently shut down ... because NMN is subscription - sorry: “As the refinancing boom gathers steam selected residential [more...]

Date: 2009-01-16 18:23:12

Citi to chop more jobs, again?

Citi CEO Vikram Pandit is ripping apart the company and surely firing even more yet the arrogant and incompetent CEO struggled at the end of 2008 with the question of whether or not he would pay himself a bonus. At least he's now at the center ... that essentially sound a death knell for its financial-services supermarket model, according to a [more...]

Date: 2009-01-14 20:55:02

Gates of Vienna News Feed 1/8/2009

The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]

Date: 2009-01-09 04:49:00

DrumBeat: November 30, 2008

Oil majors eye $5-billion ships to cut costs London — Oil and gas companies are racing to develop a new type of vessel they hope will revolutionize offshore gas production but even if the untested technology works, its deployment could be blocked by resource holders who fear it will undermine development goals [more...]

Date: 2008-11-30 14:33:22

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