Bank Charge-off Rate Highest Since 1992 for Commercial Banks: Credit Cards, Revolving Debt, and the Contraction of Credit.
Charge-off rates are now at a 17 year high since commercial banks are writing off real estate loans, consumer loans, leases, agricultural loans, and other construction loans. The FDIC is going to be bombarded with hundreds of bank failures in the upcoming years simply because their balance sheet does not have the ability to support […]
Orange County Jobs: The Real OC, Companies Cutting Jobs Since the Recession Started in California.
Southern California’s most expensive area, Orange County is not immune from the current economic downturn. The employment situation is dire across the state with the current unemployment rate spiking to 9.3% in December from a rate of 8.4% in November. The speed of job losses is increasing in a state with a deeply troubled housing […]
Fiscal Stimulus: Does Government Investment help the Economy. Examining the Impact of Monetary and Fiscal Stimulus.
The economic difficulties facing our country have for the first time, made the Federal Reserve and U.S. Treasury seem powerless in regards to starting the economic engine once again. For nearly 100 years, the school of thought was that monetary policy was the driving force for everything. If inflation was picking up, all you needed […]
Economic and Investing Forecast for 2009: 10 Charts Showing no Economic Rebound in 2009.
Today the ADP National Employment Report stated that private sector jobs fell by a much larger than expected 693,000 in December. This report stunned on the downside and is a prelude to the Bureau of Labor and Statistics report which comes out on Friday. The market also suffered its worst one day since early December. […]