From the category archives:

the Great Depression

Americans Repeating Great Depression Mistakes

by Moe Bedard

For the past several months, investors have been acting like it’s 1999, the first year when the Dow crossed 10,000, and stocks took off in complete disregard for reality. Yet the atmosphere then and now couldn’t be more different. Back then, stocks were frothier than real businesses, no doubt. But today, American job prospects are [...]

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New Foreclosure Hot Spots Ravage the US

by Moe Bedard

Among those new hot spots were Boise City-Nampa, Idaho which saw a 142 percent increase in foreclosures in the third quarter compared with the same period a year ago. Other new foreclosure hot spots include Provo-Orem (120 percent increase) and Salt Lake City (105 percent increase) metro areas, both of which are in Utah.
 
And in [...]

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Foreclosures Spread to Unemployed Middle Class

by Moe Bedard

What’s this new “wave” in the foreclosure crisis?
The first wave was caused by bad loan products, while the second will be driven by unemployment. Right now, we’re at the beginning of wave two. There are virtually no more foreclosures that are the result of subprime lending. The demographics of the foreclosure crisis are changing and [...]

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