Has the Federal Reserve gone completely insane? On Wednesday, the Fed raised interest rates for the second time in three months, and it signaled that more rate hikes are coming in the […]
How The Federal Reserve Is Setting Up Trump For A Recession, A Housing Crisis And A Stock Market Crash
Most Americans do not understand this, but the truth is that the Federal Reserve has far more power over the U.S. economy than anyone else does, and that includes Donald Trump. Politicians […]
We just got more evidence that a major economic slowdown is underway here in the United States. Existing home sales were down a whopping 7.1 percent during the month of February, and […]
Uh oh – here we go again. Do you remember the subprime mortgage meltdown during the last financial crisis? Well, now a similar thing is happening with auto loans. The auto industry […]
Last time around it was subprime mortgages, but this time it is oil that is playing a starring role in a global financial crisis. Since the start of 2015, 42 North American […]
Thanks to the “Obama recovery”, the rate of homeownership in the United States has fallen to the lowest level in 48 years. The percentage of Americans that own a home is widely […]
Mortgage originations for the first quarter of this year fell off a cliff. JPMorgan reported a decline of 71 percent, as I recall, and I think Citibank reported a drop of 66 percent. Now, the second quarter’s bloodletting has come in and the numbers are about the same… down more than 60 percent year-over-year, if memory serves and it often does.