Howzit Hoi Polloi, hope all is well. We starts our day off with...
Feisty Financials
So... Bernanke kept it real yesterday, which caused the market to nosedive... and then of course, the markets bounce this morning. Then we get the latest employment figures, which increases by 37,000 claims for the week ending July 17th. It's otay, Bernanke spoke of 7.1% unemployment by the end of 2012. What a ways to wait. I guess our $3.7 trillion pumped-economy 'recovery' is "unusually uncertain". I'd say so myself. Let me comment on something though. Keep an eye on reductions in the nations workforce, possibly coming from people who were looking for work but have now gave up searching because nothing's out there for them.
Then there's news that the Mortgage Modification program isn't working...
Sorry peeps, more foreclosures to come. Oh, and existing home sales are down 5.1%. Rising and falling are both happening at the same time in this case. Positive or negative... it's all in the way you take it in. If your thinking of buying 'conventionally', 30 year mortgage rates are at a record low 4.56%. Remember... that's if you can qualify. I know how it's been for us as investors to qualify for loans where we could back it with money we already had in the bank; nearly impossible. It's otay, unconventional is our middle name.
Slick News
Ships ready to leave leaky Gulf well as tropical storm brews, and it is heading from the Bahamas to the BP spill area. You may also want to watch this slick closely... China scrambles to contain oil spill. At 1,500 tons of oil spilled, it's roughly 6% of the BP spill, which is a s#!tload. Mama Nature must be extremely upset. We humans are really effing up, badly. I think she might just have to step in to end the madness. Just hope it's not too harsh.
Not much more than that at 5:45am Hawaii(an) Time...
Stay Strong and Aloha Always!
Grindman
Feisty Financials
So... Bernanke kept it real yesterday, which caused the market to nosedive... and then of course, the markets bounce this morning. Then we get the latest employment figures, which increases by 37,000 claims for the week ending July 17th. It's otay, Bernanke spoke of 7.1% unemployment by the end of 2012. What a ways to wait. I guess our $3.7 trillion pumped-economy 'recovery' is "unusually uncertain". I'd say so myself. Let me comment on something though. Keep an eye on reductions in the nations workforce, possibly coming from people who were looking for work but have now gave up searching because nothing's out there for them.
Then there's news that the Mortgage Modification program isn't working...
"The bailout has provided up to $50 billion for the mortgage modification programs. So far, about $248 million in bailout money has been spent on the program."
Sorry peeps, more foreclosures to come. Oh, and existing home sales are down 5.1%. Rising and falling are both happening at the same time in this case. Positive or negative... it's all in the way you take it in. If your thinking of buying 'conventionally', 30 year mortgage rates are at a record low 4.56%. Remember... that's if you can qualify. I know how it's been for us as investors to qualify for loans where we could back it with money we already had in the bank; nearly impossible. It's otay, unconventional is our middle name.
Slick News
Ships ready to leave leaky Gulf well as tropical storm brews, and it is heading from the Bahamas to the BP spill area. You may also want to watch this slick closely... China scrambles to contain oil spill. At 1,500 tons of oil spilled, it's roughly 6% of the BP spill, which is a s#!tload. Mama Nature must be extremely upset. We humans are really effing up, badly. I think she might just have to step in to end the madness. Just hope it's not too harsh.
Not much more than that at 5:45am Hawaii(an) Time...
Stay Strong and Aloha Always!
Grindman
