Economy Downturn: Detroit house auction flops for urban wasteland

Posted by Jay     Tags: , 26 October, 2009    2,976 views    (2) Comment

DETROIT (Reuters) – In a crowded ballroom next to a bankrupt casino, what remains of the Detroit property market was being picked over by speculators and mostly discarded. After five hours of calling out a drumbeat of “no bid” for properties listed in an auction book as thick as a city phone directory, the energy of the county auctioneer began to flag. “OK,” he said. “We only have 300 more pages to go.” There was tired laughter from investors ready to Read Full Article (Click here)...

Categories : Economy Tags : ,

Stages of Recession Economy: HYMAN MINSKY’S SEVEN BUBBLE STAGES

Posted by Jay     Tags: , 26 September, 2009    4,364 views    (0) Comment

The late Hyman Minsky, Ph.D., was a famous economist who taught for Washington University’s Economics department for more than 25 years prior to his death in 1996. He studied recurring instability of markets and developed the idea that there are seven stages in any economic bubble: Stage One – Disturbance: Every financial bubble begins with a disturbance. It could be the invention of a new technology, such as the Internet. It may be a shift in laws or economic policy. The creation of Read Full Article (Click here)...

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Big Companies That Are Veering Toward Bankruptcy – Year 2009 Economic Impact!

Posted by Jay     Tags: , 22 September, 2009    22,459 views    (1) Comment

Despite a few green shoots in the economy and a rocketing stock market, many large companies are still struggling to avoid bankruptcy. A new report by Audit Integrity identifies some high-profile names “that have the highest probability of declaring bankruptcy among publicly traded firms.”Which companies appear the worst off? We took the list and removed any company with a market cap under $3 billion. We then ranked the remaining names by a simple measure of the market’s Read Full Article (Click here)...

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US Economy: General Motors to Hawk New Vehicles on EBay in California!

Posted by Jay     Tags: , , 11 August, 2009    1,855 views    (4) Comment

Hate car salesmen? Want to skip the test drive? General Motors has some cars to show you. General Motors Corp. and eBay Inc. announced Monday they will offer cars from California Chevrolet, Buick, GMC and Pontiac dealers through the online marketplace. Consumers will be able to browse virtually through showrooms, ask questions, negotiate prices, and arrange financing and payment to purchase a new 2008, 2009 and some 2010 vehicles. Site:http://gm.ebay.com/search “With 12 million individual Read Full Article (Click here)...

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Signs of US Economic Recovery: Housing begins slow rebound

Posted by Jay     Tags: 2 August, 2009    1,608 views    (0) Comment

It was — note the past tense — the worst housing recession anyone but survivors of the Great Depression can remember. From the frenzied peak of the real estate boom in 2005-2006 to the recession’s trough earlier this year, home resales fell 38 percent and sales of new homes tumbled 76 percent. Construction of homes and apartments skidded 79 percent. And for the first time in more than four decades of record keeping, home prices posted consecutive annual declines. A staggering $4 Read Full Article (Click here)...

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