Calculated Risk has pulled out the GDP and unemployment assumptions from the budget proposal the Obama administration submitted today. They are: For GDP, they are forecasting real GDP growth of 2.7% in 2010, followed by 3.8%, 4.3% and 4.2% in 2013. For unemployment, the forecast is for an average of 10% in 2010, with a […]

Keith Hennessey has a series of charts that put today’s budget announcements in perspective. If you have a moment I suggest you click over to review them. The one below is in my opinion the most important of the set that he produced. A lot of the talk today has centered on the size of […]

Apparently bereft of any other good ideas to deal with the foreclosure mess, the government has decided to return to the good old days in order to move inventory. Today was the first day of FHA’s capitulation. House flippers no longer need worry about holding a property for 90 days before a buyer is eligible […]

This is one of those days when I can’t decide whether to be an optimist or a pessimist. The ISM report was truly bullish and David Rosenberg convinces me that the fourth quarter economic numbers don’t make any sense at all. The ISM’s manufacturing survey showed an increase from 54.9% in December to 58.4% in […]