Back to the trenchant trenches. More bad housing news came out of California. The loan default rate spiked 80% in the first quarter, according to DataQuick. This is a precursor to a HUGE spike in foreclosures (defaults are the first step down this road) and a strong indicator that the real estate market in California still has another leg down. Even wealthy spots like Santa Clara and Contra Costa counties are showing mid-double digit increases in default notifications.In very sad news, the CFO of Freddie Mac apparently committed suicide at his Virginia home, according to the New York Times. This means two things. First, media pressure on these guys is probably so great that they may not be able to do their jobs properly. Secondly, Freddie Mac is still clearly in a whole heap of trouble. CalculatedRisk reports that U.S. vehicle miles were off in .9% in February, coming on the heels of months of previous declines. People driving less is usually a sign that the economy is still shrinking.
Alex Salkever is Director of Research at Piqqem.com, a stock prediction community and stock sentiment information provider.
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Reader Comments (Page 1 of 1)
4-23-2009 @ 7:55AM
tgjh777 said...
Lamentations 3:40 Let us search and
try our ways, and
turn again to the
Lord.
4-23-2009 @ 9:50AM
Lam arche Michael said...
tgjh777- Let me save you the trouble or I will multiply them for you 10-100 fold. I am tired and grow annoyed and bored with this game.
Jesuis Michael
4-23-2009 @ 9:55AM
Lam arche Michael said...
Thank God for Democracy because life in Capitalism is like Joining a game of Monopoly that has already been in play for hours. What is the {bleeping} point!?! Those just joining the game are the TOKEN TOILET PAPER ROLL, instructed to run around an insanely STUPID & Monotonously Boring GAUNTLET. Then when they pass "GO" the BULL MKT Bullies descend from Ivory Towers use you to wipe their filthy @$$E$ then they discard you! Kinda like that Movie Jumangii where the Game becomes a reality night mare. This Game is ready to be burned and the ashes scattered to the wind. LAST WARNING Everyone GET OUT this Reality Game ACTUALLY is going into the lake of FIRE because there is so much BULL $hit out there the beast is going to BBQ itself!!! LOL This is what they mean by Global Warming! LOL LMAO Smore(s) any body? LOL
---Je'suis Michael
4-23-2009 @ 10:00AM
Lam arche Michael said...
Here is a "GAME",
WHAT AM I? I want to start a new organization & call it "BORED" Games Your welcome to join as long as you recognize I get to be Chairman of the "BORED". I get to play all day & call it work. I get to make everyone under me feel over worked & under appreciated, I get 24.8 MILLION/YEAR & pay you peanuts, then complain about how much it costs to own you. Through other organizations I own I charge you even more, than the peanuts I pay you, for cheap crap made somewhere else, that will need replacing by the next pay cycle. This is another clever way of getting you to subscribe to another STUPID subscription service trapping you in revolving debt. Better get in now, this is a ground floor opportunity, and maybe if you kiss my @$$, just the way I like it, I'll put you in charge of something really nice like taking out the trash or shredding my mail so no one can see how shady I am. What AM I? GIVE UP? I'm a Capitalist PIG OINK OINK! Only in Mockery!
Je'suis Michael