Archive for July, 2010

Fed Chairman Offers Uncertain Outlook

Thursday, July 22nd, 2010

55086767The Los Angeles Times reported today that Federal Reserve Chairman Ben S. Bernanke predicted that unemployment was likely to remain stubbornly high for several years, straining families and endangering the nation’s economic stablitiy and competitiveness.

Though Bernanke painted a bleak picture for the millions of jobless workers, he said the U. S. economy was continuing to recover at a moderate pace.

 Click the photo to view the entire article.

California Housing Defaults at 3-year low

Thursday, July 22nd, 2010

55081224-21180036The Los Angeles Times reported today that the number of Californias entering foreclosure slid dramatically in the second quarter to a three-year low as the fallout from the worst of the housing crisis continued to abate.  Click the photo to the right to read the entire article.

Who would bet against John Paulson?

Tuesday, July 13th, 2010

john_paulson--300x300paul_krugman

 

 

 

 

 

 

 

 

 

The July 5 – July 11, 2010 issue of Bloomberg Businessweek featured an article that contrasted the views of John Paulson, the hedge fund manager who correctly predicted the collapse of mortgage backed securities (and profited handsomely from it) and Paul Krugman the Nobel Laureate and professor of economics at Princeton University, on the current state of the world economy and what they believe the future will hold.  It is a great read and time will tell which of the two were correct.  Click on either photo to link to the Bloomberg.com article.

Fear of a Stall Hits Market

Thursday, July 1st, 2010

NASDAQOn Wednesday, June 30th, 2010 the Wall Street Journal reported that American stocks and bond yields fell sharply as concerns mounted that the economy might be in for a slowdown.  For a link to view the entire article, click the photo at left.