Consumerist
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science says
Either Have The Temerity To Hold Stocks Or Get Out Of The Market
One of the first studies of the recent market splat found that the investors most likely to be crushed thought they were investing for the long haul, only to be forced into cashing out at the worst possible time. According to the study, cleverly titled "When Everyone Runs for the Exit," there are only two good ways to react to a liquidity crisis: hold onto your portfolio and trust that it will recover, or fold immediately to limit your losses. More » -
recession watch
Hey, America: You Lost $1.3 Trillion!
Feeling poorer lately? You are! A new government report says that $1.3 trillion dollars of American wealth was vaporized in the first quarter of 2009. More » -
travel
Should A First Officer Make More Than $23,900 A Year?
BusinessWeek has an interesting article about the economics of regional airlines — the smaller companies that are subcontracted to operate the less profitable routes for major airlines. Some were stunned to find out that first officer on the flight that crashed in Buffalo, NY only made $23,900 a year. Is this too little? More » -
markets
Freak Out Continues: Markets Close At Lowest Level Since 1997
Bad day on Wall Street today, folks. The S&P 500 closed at the lowest level since April 1997. More » -
housing
Housing Statistics Are Being Buoyed By So-Called "Vultures"
Sales of existing homes are up, which sounds like good news — except that if you really look at what is going on — it's really sort of bleak. About half of all home sales in December were foreclosures, says Marketplace, where the house is sold for less than what is owed on the mortgage. More » -
gas prices
So, Why Is The Price Of Gas Rising Now?
Anne writes:
I just don't get it. Does Consumerist know of a good media source that has a *current* (i.e., in the last week or two) breakdown of why the heck gasoline prices are rising 10 cents a week and more in the last month?
Let's take a stab at some possible reasons.
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gas prices
Why Was Gas So Expensive?
Did you know that gas price gouging almost never occurs as prices rise? Rather, it's most often when dealers keep prices artificially high even as their costs fall. As gas costs were near $5 a gallon until falling and oil companies earn around $100 billion each year, it's a good time to question what really goes into the price of gas. The numbers on the gas station sign hide a complex set of transactions. Before gas can power your car, it must be discovered as crude oil, traverse three markets, and be refined from crude into gas. Inside, we'll explain the three markets, walk you through the role of refineries, and show how oil companies use creative tactics to manipulate gas prices...
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3:12 PM on Mon Oct 13 2008
By Carey Alexander
38,689 views, 106 commentsMost discussed ai2tis: I guess my comment will be banned because this blog is mainly American. But the truth sometimes hurts. I can't believe. more »
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fannie mae
Nobody Panic: Government Seizes Freddie Mac, Fannie Mae
Oh dear, all that talk about Freddie and Fannie being "adequately capitalized" was utter bullshit and the government has now announced plans to place the failed government sponsored enterprises into conservatorship. That means the fate of the housing market and the global economy rest squarely on the shoulders of U.S. taxpayers.
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subprime meltdown
JP Morgan, Fed To Bail Out Bear Sterns
The New York Times says that JP Morgan and the Fed have reached an agreement to offer Bear Sterns a short-term "financial lifeline." More » -
economy
It's Bigger Than The U.S. Stock Market, It's Unregulated, And You've Never Heard Of It
Unless you're one of those fancy business people who read this blog you've probably never heard of credit default swaps. The NYT explains: More » -
depressing
The Subprime Meltdown Is The Tip Of The Credit Iceberg
The ongoing subprime meltdown is merely the first destructive wave of credit catastrophe to wash over Wall Street, according to Slate's resident explainer. Americans drunkenly bandy credit around in several forms: mortgages are the most prevalent loans turning sour, but credit card debt, student loans, and auto loans are silently conspiring to threaten our macroeconomic well-being. More » -
real estate
10 Best And 10 Worst Housing Markets
Forbes has put together a list of the best and worst housing markets in the U.S. Think every market is dropping? Apparently not. Salt Lake City, you're doing just fine. So far. Overall, the picture isn't as rosy: More » -
cheese
California Police Seize 375 Pounds Of Bathtub Cheese
Meet Floribel Hernandez Cuenca and Manuel Martin. California police arrested the pair on "felony cheese making charges" after they tried to sell 375 pounds of bathtub cheese at an open-air market in San Bernardino. Bathtub cheese, otherwise known as "illegal soft cheese," can cause a range of maladies including listeria, salmonella, and everybody's favorite gut goblin, E. coli.The 375 pounds of seized illegal cheese included panela, queso fresco and queso oxaca varieties, the [California Department of Food and Agriculture] says. It was a significant find, the department says.
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subprime meltdown
Pending Home Sales Plummet 12% In July
Pending home sales plummeted in July—dropping 12%—the steepest drop since the pending sales index was created and nearly 5 times what analysts were estimating. More » -
start saving
Subprime Meltdown Spreads To "Jumbo" Mortgages
The New York Times has an interesting article that explains the affect the subprime lending meltdown is having on so-called "jumbo" loans. More » -
subprime meltdown
Jim Cramer Loses His $%^$ On CNBC
Jim Cramer is really upset about the subprime meltdown and would like to express his frustration in a healthy way. By screaming on television. Might want to turn the volume down before you watch this one. Who said CNBC can't occasionally be amusing? More »
markets
The stock market is not doing well. The Dow Jones industrial average fell below 10,000 for the first time since 2004, and is currently down 440 points. [
New York, 7:51 AM
Wed Nov 11
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