Archive for July 24th, 2009

The Truth (Sort Of) About The Minimum Wage

Here is a chart from the New York Times that shows the real value of the minimum wage over time. And here’s another one that proves that Congress cares more about poor workers than themselves. It shows the difference between inflation adjusted senators pay and inflation adjusted minimum wage. And from the article here is [...]

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Friday Failures

The grand total this week is seven. After a brief stop in New York, the Grim Reaper went back to its favorite state — Georgia — and took out six more banks. Actually it took out a family of banks in Georgia. Everyone seems to be counting each bank as a failure so we won’t [...]

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Residential Real Estate Approaching A Bottom

Notices of Default in California for the second quarter were up about 2.4% over the comparable period in 2008. Housing Wire had the story and it’s a pretty small little data point but I thought the comment they included in their article from the President of Data Quick was worth noting. Here is what he [...]

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Two Lost Decades

This one has been making the rounds today. It’s the sales history for a house in Palm Springs, CA. Further editorial content is not needed. Property History Date Event Price Appreciation Source Apr 30, 2009 Sold $32,500 -87.1%/yr Public Records Feb 08, 2008 Sold $399,479 -8.3%/yr Public Records Sep 22, 2006 Sold $450,000 28.4%/yr Public [...]

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Britain’s Second Quarter GDP Numbers Worse Than Expected

The one thing I continue to worry about even as this economy appears to be on a very slow mend is another shoe dropping. I don’t think that just happened but here’s a poignant reminder that there are a lot of boots hanging over our heads. The Telegraph is reporting that the U.K. had a [...]

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The Gates Dustup Intensifies

This is pretty much off topic for this blog but the flap over the Obama comment about the arrest of Louis Gates seems to be getting out of control. Politico.com is reporting that the Cambridge, Mass. police union was demanding an apology for the characterization of the arresting officer as “stupid.” The White House is [...]

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Buffett On CIT, Goldman And A Few Other Topics

Courtesy of Fox Business Network, here are some links to a couple of interesting interviews with Warren Buffett (Fox has a glitch right now that prevents me from posting the actual video). http://video.foxbusiness.com/#/7289655/warren-buffett-on-cit/?category_id=1292d14d0e3afdcf0b31500afefb92724c08f046 and http://video.foxbusiness.com/#/7288557/warren-buffett-on-teaching-kids-finance/?category_id=1292d14d0e3afdcf0b31500afefb92724c08f046 Buffett holds forth on CIT and their prospects — basically they’re toast — his Goldman investments, the economy and a new economic [...]

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