Paulson says credit crisis may be fading
Treasury Secretary Henry Paulson said Wednesday the worst of the credit crisis may have passed but acknowledged that rising gas prices will blunt the effect of 130 million economic stimulus checks. He ruled out a second stimulus package for now.
Mortgage Delinquencies and Foreclosures
Conclusion The realtor’s mantra is “location, location, location,” and, as I have discussed this evening, local variation in housing and mortgage markets is considerable. This variation is useful for understanding the sources of the increase in mortgage delinquencies and foreclosures, and it should be taken into account [...]
The Great Depression Debate
Bernanke and many other economists believe the Fed’s failure to bail out stricken banks between 1929 and 1932 was one of the main reasons the Depression lasted so long. In 1932, Herbert Hoover established the Reconstruction Finance Corp., which lent to banks, railroads, and other troubled businesses but failed to reverse the [...]
Stagflation means fewer Vegas Stag Parties
Gas or gamble? Economy forces some to choose
The pressures of a weak economy — concerns about job security and rising prices for gas, food, home heating oil and other goods and services — are causing many gamblers to cancel or reduce the number of casino trips. Those who go are gambling less money than in [...]