Now that the New Year has arrived all eyes are focused on the stimulus plan being assembled by the Obama team. First reports indicate that as much as $300 billion wll be in the form of tax cuts. That’s a bad idea. Here’s Krugman in today’s New York Times explaining why: Fighting Off Depression The […]

Here’s the news release from the Conference Board: Consumer Confidence Index No real news here. Consumers are taking a huge hit as businesses cut jobs and house prices continue to fall. So it cannot be a surprise to see surveys of confidence reflecting doom and gloom. The longer this continues the worse off we all […]

Today’s news is brief but pretty bad, house prices are continuing their sharp fall all across the country. Here’s the announcement of the Case-Schiller index from MarketWatch: Home prices off record 18% in past year, Case-Shiller says – MarketWatch None of this is really unexpected. The housing bubble was insanely inflated and has not yet […]