According to a recent survey, 80% of homeowners don’t believe their homes will lose value over the next 6 months. This is really optimistic compared to the average analyst’s prediction that homes will decline another 10-15% nationwide. Homeowner optimism is one of the reasons why the housing crisis is taking so long to [...]
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Today the Federal Reserve announced that it would be leaving interest rates unchanged from their current 0%-0.25% levels. The Fed also stated that the economy appears to be leveling off, but is still suffering from job losses and tighter credit. From the looks of the statement it appears that The Fed is planning on [...] Here’s the latest on the Madoff saga… Apparently Madoff’s former CFO is starting to talk to investigators about how the ponzi scheme operated. He indicated that the scam has been going on since at least the late 1980’s and that he was ordered to lie to the SEC in 2006 to throw them off [...] I found this Wall Street Journal article by Jason Zweig discussing why data mining or “back-testing” isn’t a reliable way of outperforming the market. Zweig says.. “The stock market generates such vast quantities of information that, if you plow through enough of it for long enough, you can always find some relationship that appears to generate spectacular [...] The 1980’s had a bubble in junk bonds…the great technology bubble followed soon after in the roaring 90’s…. and now we’re in the process of suffering a major hangover from the real estate bubble of the 2000’s. This leads to the question… Where’s the next bubble? Here’s a video of James Altucher discussing where the [...] Here’s a cool yet scary website that tracks the national debt… www.usdebtclock.org What makes the site really interesting is it breaks down the total debt per citizen and shows the amount of unfunded liabilities. Check it out and see what shape our national balance sheet is in.
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The Greenback Effect
Warren Buffett wrote a great Op-Ed in the New York Times today. In the piece, Buffett argues that the current economic stimulus is necessary to get our economy running smoothly. However, Buffett also states that our current rate of spending is unsustainable and that once the economy begins to recover congress must stop the printing [...]