fed

Fed Takes Huge Step to Stop Bleeding – Announces Major Rate Cut

by Joshua Dorkin | September 18, 2007

The Fed just announced that it would be cutting the federal funds rate by 1/2 point to 4.75 percent. This is the first reduction in four years and will affect everything from credit cards to adjustable rate mortgages. Clearly this major cut is indicative of how bad the Fed thinks the economy is. It will [...]

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Commentary

How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis

by Joshua Dorkin | September 14, 2007

According to the man who has been touted as the greatest central banker we’ve ever had, Alan Greenspan revealed yesterday that he dropped the ball during the birth of the Sub-Prime Mess. According to Greenspan in a 60 Minutes interview, “While I was aware a lot of these practices were going on, I had no [...]

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Real Estate

San Francisco Fed President – Economic Outlook Risky

by Joshua Dorkin | September 10, 2007

In an effort to analyze the current state of the economy, San Francisco Federal Reserve Bank President, Janet Yellen, shared with us her take on things:1 She said that declining home prices could hurt consumer spending, and that risks to economic growth would be “significant” if housing prices fall in the context of rising unemployment. [...]

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Real Estate

Mortgage Crunch Hits Job Market and Stock Market

by Joshua Dorkin | September 7, 2007

The Labor Department today reported that payrolls fell by 4,000 in August for the first time in 4 years. What makes matters worse is that estimates were for this number to increase by 110,000. Job losses included those in manufacturing and construction. Clearly, we can see that the housing market is starting to affect all [...]

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Commentary

Fed Chairman Ben Bernanke to Abandon Lenders and Investors

by Joshua Dorkin | September 6, 2007

The President and others in office continue to tell us how well our economy is doing. Lets take a look at some of the latest news to see how things are

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Commentary

Real Estate Bubble Popping, Housing Starts and Building Permits Tumble

by Joshua Dorkin | November 17, 2006

CNBC is reporting this morning that US Housing Starts declined in October 14.6% to the lowest level in 6 years, while building permits were down a whopping 6.29%. Guests on the network, James Wilson and Jan Hatzius (Goldman Sachs Economist), predicted that housing will be a drag on GDP in ’07. Hatzius attributed the problem [...]

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