On the agenda for the FDIC board meeting next week: Memorandum and resolution re: Final Statement of Policy of Qualifications for Failed Bank Acquisitions. Memorandum and resolution re: Final Rule on the Extension of the Transaction Account Guarantee Program. Memorandum and resolution re: Notice of Proposed Rulemaking Regarding Risk-Based Capital…
From Bloomberg: U.S. Economy May Have Reached ‘Trough,’ Krugman Says “It’s quite possible, though not certain, that retrospectively, we’ll say that the recession ended in July or August, maybe September,” Krugman said. “My guess is that we’ve bottomed out now, that August was probably the trough month.” … A second…
Here is a collection of real estate and economic graphs for data released in July … Note: Click on graphs for larger image in new window. For more info, click on link below graph to original post. ******************** New Home Sales in June (NSA) The first graph shows monthly new…
First, lifted from the comments on Corus: “Too toxic to fail.” by Rob Dawg On shadow inventory from Reuters: “Shadow” inventory lurks over U.S. housing recovery (ht Denny) [A] massive supply of unsold homes is waiting in the wings and could easily swamp the recovery before it can gather speed.…
The Wall Street Journal reports today that lending continues to slow and that could be a bearish sign for the economy. Here’s more: The total amount of loans held by 15 large U.S. banks shrank by 2.8% in the second quarter, and more than half of the loan volume…
6/26/09 – CNN – Fareed Zakaria’s GPS Program on CNN: Recession’s End Near? ( Click here for Video ) CNN – Are we done with the recession? An Economist, a historian, and a billionaire argue what is to come.
Read more here – My Interview (with Ferguson and Zuckerman)…
7/22/09 – Nightly Business Report, PBS – NYU Professor Nouriel Roubini’s Outlook on the Economy Transcript from PBS : Wednesday, July 22, 2009 SUZANNE PRATT: Joining me now with his thoughts on health care and the economy is Nouriel Roubini. He is the economics professor at NYU’s Stern School…
The global recession may end towards the end of 2009 rather than sooner and the global recovery in 2010 will be anemic and well below trend as leveraged and income/profit-challenged households, firms and financial institutions are constrained in their ability to borrow, lend and spend. Meanwhile a perfect storm…
From Bloomberg: Bernanke Says Commercial Property May Pose Risk for Economy Federal Reserve Chairman Ben S. Bernanke said a potential wave of defaults in commercial real estate may present a “difficult” challenge for the economy, without committing to additional steps to aid the market. … It “may be appropriate” for…
Click on map for larger image. Here is a map of the three month change in the Philly Fed state coincident indicators. Forty seven states are showing declining three month activity. This is what a widespread recession looks like based on the Philly Fed states indexes. On a one…