Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘Real estate’

Federal Reserve’s “Beige Book” shows improving economy

Posted by Warm Southern Breeze on Thursday, January 17, 2013

The Federal Reserve regularly publishes a summary of economic activity in the 12 Federal Reserve Districts in the United States.

It is important to note that “This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials.”

Much, if not most of the news was promising.

Summary highlights from this Beige Book 2013-01-16 are that:

• “Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report, with all twelve Districts characterizing the pace of growth as either modest or moderate.”

• “All twelve districts reported some growth in Read the rest of this entry »

Posted in - Business... None of yours, - My Hometown is the sweetest place I know | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Banks encourage “short” sales to invigorate economy, public not enthused

Posted by Warm Southern Breeze on Wednesday, May 18, 2011

Our nation’s economy has for years rested upon manufacturing, which has been the “backbone” of any industrialized nation. (Note the phrase “industrialized nation.”) Now that industry has been “out-sourced” to China, India, and other nations with emerging economies, not only has America become dependent upon other nations (not independent), but our national security and standard of living has been compromised.

Thus, banks, insurance companies and stock brokerage houses – who have again been allowed to enjoy their incestuous fiscal orgies because the Glass-Stegall Act was repealed – are forced to invent artificial commercial paper (derivatives, etc., which no one can thoroughly explain) to increase profits. In conjunction with the computer-driven algorithms of auto-traders and futures markets, the risks Wall Street and banks make (upon the backs of the people) are increasingly becoming a veritable “house of cards” built upon shifting sands.

The uncertainty of our economic future is even more precarious, and is no more clearly demonstrated than in this instance, when banks can’t sell houses they own, even after taking significant reductions (losses), and providing incentives for private buyers.

After reading the following news story, consider the implications for our economy. Read the rest of this entry »

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