{"id":198114,"date":"2007-12-11T17:33:00","date_gmt":"2007-12-11T22:33:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/11\/your-update-on-the-economy\/"},"modified":"2007-12-11T17:33:00","modified_gmt":"2007-12-11T22:33:00","slug":"your-update-on-the-economy","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/12\/11\/your-update-on-the-economy\/","title":{"rendered":"Your Update on the Economy"},"content":{"rendered":"

Let’s see, the Fed cut rates by 25 basis points<\/a>, but the market wanted 50, so the Dow dropped 294.26 points<\/a>.<\/p>\n

The WSJ is saying that the U.S. mortgage crisis rivals the S&L meltdown<\/a>.<\/p>\n

While it’s nice that they take it seriously, the US Credit\/Insolvency crisis<\/span> is already<\/span> worse than the S&L meltdown. Still, it’s a good read.<\/p>\n


Own to rent cost ratio, the real estate equivalent of P\/E:<\/p>\n


The discount for the mortgage packages:<\/p>\n

And while we are at it, how about MBIA, the world’s largest bond insurer, getting $1B infusion from private equity firm<\/a>?<\/p>\n

This is not about someone finding a deal. It’s about a private equity firm keeping MBIA alive while they offload their piece of the big sh&%pile on some other<\/span> idiot.<\/p>\n

Also, Washington Mutual is closing offices and laying off more than 3000 employees<\/a>, including a friend of mine<\/span>, because of mortgage and credit problems.<\/p>\n

Also, Freddie Mac is looking at $5.5-$12 billion in additional losses<\/a>. That’s in addition<\/span> to the $4.5 billion that it’s already lost this year.<\/p>\n

At the rate this is going, it will be raining Katz and Hutton on Wall Street.<\/p>\n

Watch out for jumping finance professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Let’s see, the Fed cut rates by 25 basis points, but the market wanted 50, so the Dow dropped 294.26 points. The WSJ is saying that the U.S. mortgage crisis rivals the S&L meltdown. While it’s nice that they take it seriously, the US Credit\/Insolvency crisis is already worse than the S&L meltdown. Still, it’s …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1265,1088],"tags":[],"class_list":["post-198114","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-housing-crash","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198114"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=198114"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198114\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}