The front page of this morning’s Wall St. Journal announced that “the $25 billion settlement with banks over alleged foreclosureA legal proceeding in court to seize property given as security for a debt that is in defaultThe omission or failure to perform or fulfill a legal duty,
(http://www NULL.addtoany NULL.com/share_save)The housing market should “run its course and hit the bottom.” So said presidential candidate Mitt Romney last October. I don’t find much inspiration or brilliance from any of the presidential contenders, but Romney was exactly right in his statement, as we need to let the housing
(http://www NULL.addtoany NULL.com/share_save)According to mass media outlets and some politicians, the Great Correction to the Great Recession is going, well … great. We all hear stories about unemployment going down, consumer confidence rising, and the housing market starting to rebound. Don’t believe it – any of it. Even if
(http://www NULL.addtoany NULL.com/share_save)Mon Dieu! For those who have discussed politics with me, the title above is the antithesis of what I usually convey. As a fiscal conservative and social moderate, my leanings have always been toward taxes being collected only for areas where the government can do things best.
(http://www NULL.addtoany NULL.com/share_save)Since the beginning of the financial crisis, politicians and bureaucrats trying to rescue it have consistently done nothing but fall over their own feet. We would be hard pressed to point to a single true success story among the multitude of programs and regulations that have been
(http://www NULL.addtoany NULL.com/share_save)According to our political leaders and certain well-placed economists, the U.S. economy is recovering well from the recession. If only the country could get the housing market back on track, then everything would be just dandy. In my view, while the housing downfall heavily contributed to the
(http://www NULL.addtoany NULL.com/share_save)Political silliness just keeps reaching new lows. The latest idiocy revolves around the political fighting over whether to raise the payroll tax rate back to 6.2%, keep it at the reduced 4.2% reduced rate for two months, or maintain it at that 4.2% rate for the next
(http://www NULL.addtoany NULL.com/share_save)What a week! Two of the more interesting stories were Jon Corzine accidentally misplacing $1.2 billion and the escalation of the Euro crisis. First, let’s talk about Corzine. This guy has been a Wall Street CEO (twice), a U.S. Senator, and a governor – isn’t that the
(http://www NULL.addtoany NULL.com/share_save)On the surface, the U.S. economy seems to be turning around. Many of the TV talking heads say so! Heck, the U.S. added 120,000 jobs in November, bringing the unemployment rate down to 8.6%. On top of that, retail sales from the Thanksgiving weekend were stronger than
(http://www NULL.addtoany NULL.com/share_save)Yeah, we’re saved! Many economists and more than a few politicians are assuring us that the U.S. is entering a recovery phase (again), with little chance for a double-dip recession. One reason is that claims for unemployment benefits dropped to their lowest level in seven months to
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