by Jason Apollo Voss | 01 10 2009 | Blog
Household debt currently sits at 125% of after-tax income! In the mid-90s, before the credit gluttony ensued, the number was around 80%. The slightly positive news is that the 125% is down slightly.
by Jason Apollo Voss | 01 10 2009 | Blog
For almost a year now I have been saying that one of the things that will lead to a solid recovery and lasting change is a change in the people who led us into this deep recession. Today it was announced that Bank of America’s CEO Ken Lewis will resign at the...
by Jason Apollo Voss | 01 10 2009 | Blog
A couple of important economic stats came in today, our old friends: consumer spending and jobless claims. Here’s how the data shook out… * Consumer Spending August consumer spending was up a robust 1.3% – the highest spending surge in 19 months....
by Jason Apollo Voss | 30 09 2009 | Best of the Blog, Blog
Yesterday the International Monetary Fund (IMF) disclosed its estimate of future bank losses due to the BURSTING of the mortgage bubble. The number: $1.5 trillion. Not exactly chump change. This amount is, however, $600 billion less than its April forecast. The...
by Jason Apollo Voss | 29 09 2009 | Blog
Not surprisingly consumer confidence dipped slightly in September. Given that there has not been a big improvement in the unemployment rate most consumers likely still feel gun shy. We have talked before about the virtuous or vicious cycle that exists between the...
