Wednesday, May 30, 2012

Romney Having Trouble Holding On To Republican States

The latest state polls show GOP presumptive nominee Mitt Romney is in trouble.  And the fans of Rick Santorum knew he would be.

Romney is losing to President Obama in Virginia, 46-42, and losing 48-44 in Colorado.  If Romney has to fight to get Republican states, he's in deep trouble.  And Romney is ahead by just 47-45 in Repuiblican stronghold North Carolina, the home of Jesse Helms.  Obama is leading in Ohio 45-40--he wins that state and it's over.

Still time for Republicans to change their minds and nominate a real conservative, rather than an Obama do-alike.

Romney Clinches GOP Nomination, Wall Street Not Happy

It can't be a good sign for GOP presidential contender Mitt Romney.  On the day that he clinched his party's nomination, Wall Street showed its distaste for Romney with the Dow Jones average falling 170 points.  Investors aren't too optimistic about the prospects of a Romney presidency.  Hopefully, Obama will surge in the polls so the market can settle down.

Wednesday, May 23, 2012

U.S. Economy Continues to Gain Steam

Sales of new homes in the United States last month exceeded analysts' expectations again, growing 3.3% over last year to an annualized rate of 343,000.  Many markets have now turned from a buyer's market to a seller's market.  If you waited to buy a home hoping prices would drop, you waited too long.

Thursday, May 17, 2012

Foreclosures at the Lowest Level Since 2007

More news that things in the United States are the best they've been in a long time.  

Foreclosure filings in April fell once again.  That's the third straight month of decline, and obviously, the trend is going way down, for it is the lowest level of foreclosures since July of 2007, or nearly five years ago.  

Bank repossessions, all the rage in 2007 and 2008, are down sharply.  There were just 51,415 last month, down 26% from a year ago.

Tuesday, May 8, 2012

The United States Will Earn a $15.1 Billion Profit From Bailout of AIG

Moaners and groaners were out in force when U.S. President George W. Bush announced that the government would bail out insurer AIG, with calls of "socialism" and other such malarkey.  Those people likely never had a college education, or at least not a good one, for anyone that knows anything about economics knows that the country could not have survived given AIG's enormous inner dealings and holdings.

AIG insured nearly all the big companies and some foreign governments as well.  Had they been allowed to collapse, it would have sent the country and the world into deep collapse by extension, perhaps worse than the Great Depression that began in 1929, coincidentally the last time that Republicans had control of the presidency, the House, the Senate and the Supreme Court for more than one year.

Bush reluctantly agreed to bail out AIG, and it was one of his best decisions as president.  President Obama agreed that it was the right move, showing his great intelligence.  And rather than 25% unemployment and deficits of $4-5 trillion per year, we now have 8% unemployment and a 
deficit of $1.2 trillion.

The Government Accountability Office issued a report Tuesday that the U.S. Treasury may eventually turn a $15.1 billion profit on its bailout of insurer AIG (when all final payments and asset sales are complete.

Bush absolutely made the right move when he bailed out AIG.

Tuesday, May 1, 2012

U.S. Auto Sales Up Yet Again

On the heels of the best quarter for auto sales since before Barack Obama was president, the U.S. auto industry once again reported increased sales.  TrueCar projects 14.5 million new car sales in the United States, up from 12.8 million last year.

If people can buy cars, you know that money will spill into the other segments of the economy and that the job market will improve.