According to an article "U.S. home sales, goods order feed recession fears" the sale of single families home in the United States have drop to a 13 year low in January and along with other problem with the U.S. people not wanting to buy goods all of this is fueling the recession fears. In a report given in front of Congress by U.S. Federal Reserve Chairman Ben Bernanke he talks about how the U.S. economy needs to have more interest rates cuts. The article states that the housing market is still dropping and if the housing market continues to weaken than the economy as a whole will continue to get weak and force into a recession.
I think that we need to work on the housing market and get that up and in a stronger state and then start working on the economy as a whole. You need to work on one thing at a time and make the economy stronger so that we can become a wealthier nation.
The article I got this information from was called "U.S. home sales, goods order feed recession fears" from http://news.moneycentral.msn.com.
Thursday, February 28, 2008
Monday, February 25, 2008
Signs
Why are people not spending money? According to an article published on CNNMoney.com job growth has not changed, housing economy is in a hole. All of this is signs of economy trouble, and with this many economist see us falling into a recession, this is according to the National Association of Business Economics. Over 45% of economists are now predicting that we will be in a recession this year.
The GDP this year will be at the weakest it has been in 5 years. All of these forecasts are in line with the forecasts from the Federal Reserve this past week. There are many things that this country is trying to do to get the economy back on track so that we can start to become a power country. I hope that this will get the country back on track and more money in the economy.
I got this information from CNNMoeny.com called “Recession more likely this year - survey
Business economists see growing evidence that the country has toppled into a recession” from http://money.cnn.com/2008/02/25/news/economy/economists_recession.ap/index.htm.
The GDP this year will be at the weakest it has been in 5 years. All of these forecasts are in line with the forecasts from the Federal Reserve this past week. There are many things that this country is trying to do to get the economy back on track so that we can start to become a power country. I hope that this will get the country back on track and more money in the economy.
I got this information from CNNMoeny.com called “Recession more likely this year - survey
Business economists see growing evidence that the country has toppled into a recession” from http://money.cnn.com/2008/02/25/news/economy/economists_recession.ap/index.htm.
Monday, February 18, 2008
One problem can lead to another…
What is one thing that every American wants to own? A home. But there are many problems that are not allowing some Americans to own their own home. According to the Associated Press there is a handful of states that are that are working on ways to get many investment banks and big lenders caught for more than just bad business decisions and bad mortgage troubles. With these bad judgments from these mortgage companies they can be the ones that are causing the problems in the economy right now. I think that there are many companies that need to change their way so that they can stop causing the poor market now.
In the article they are looking for ways to change the way that many cities and states pursuit bad lenders. The lenders have written $625 billion in subprime mortgages in the 2005, this is a big problem because most of that money will never come back because the people that received the money cannot pay the money back but they were approved for it. I am just hoping that this does not make the economy problem even worse. I am hoping that the right people will fix this problem and the economy will become better.
I got the information from this article from the Associated Press title “Wall Street faces fury over subprime” from http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080218&id=8204803.
In the article they are looking for ways to change the way that many cities and states pursuit bad lenders. The lenders have written $625 billion in subprime mortgages in the 2005, this is a big problem because most of that money will never come back because the people that received the money cannot pay the money back but they were approved for it. I am just hoping that this does not make the economy problem even worse. I am hoping that the right people will fix this problem and the economy will become better.
I got the information from this article from the Associated Press title “Wall Street faces fury over subprime” from http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080218&id=8204803.
Wednesday, February 13, 2008
Up..Up... and Away!!!
Finally the market is moving up after Congress raised the retail sales. This comes even with us being unwilling to spend money but the DOW was up almost 180 points, which is a good thing after weeks of the market dropping. All of this information came from an article in the the Defiance Crescent News online. Many of these problems can be caused by the failing housing mortage and us the buyers not willing to spend our money to buy things. I am hoping that the government plan we help the economy grow and I want the United States to get out of this recession so we can start paying back some of the debts that we have built up.
For most of the stocks they have all rose, but they not stay up we will have to keep checking to make sure that they stay up and keep growing. I am glad that the stocks are rising and that the market is growing and finally making money. Many of the companies are now making money, which can only say that we are willing to spend money again.
This information from this article came from The Associated Press titled "Stocks End Higher on Upbeat Sales Data" at http://hosted.ap.org/dynamic/stories/W/WALL_STREET?SITE=OHDEF&SECTION=HOME&TEMPLATE=DEFAULT#, written by Joe Bel Bruno.
For most of the stocks they have all rose, but they not stay up we will have to keep checking to make sure that they stay up and keep growing. I am glad that the stocks are rising and that the market is growing and finally making money. Many of the companies are now making money, which can only say that we are willing to spend money again.
This information from this article came from The Associated Press titled "Stocks End Higher on Upbeat Sales Data" at http://hosted.ap.org/dynamic/stories/W/WALL_STREET?SITE=OHDEF&SECTION=HOME&TEMPLATE=DEFAULT#, written by Joe Bel Bruno.
Monday, February 11, 2008
Recession....Recession
On Monday the President signed a $170 billion economic stimulus package that was passed by Congress last week. The President is hoping that this package will send American tax rebate checks by May in hope that this will prevent a recession or make it a very brief recession. The package also gives more tax break to business, veterans, and senior citizens. The best thing was that Congress got this bill through all the talk and debate in less than four weeks, which President Bush is very happy about. This bill will pay taxpayer between $600 to $1,200 and there also we are a $300 per child tax credit. The main reason for this bill is to put money in to the taxpayers’ hands and hope that they will spend it to help pull the market out of the recession.
I believe that this is a good plan but the only problem is, will the taxpayer take the money and spend it on will they just save it and not spend it. I hope that this extra money that we as taxpayer our getting this year will allow us to spend it and put some money back into the economy and help it grow and grow so we can get pulled out of this recession and not let it last a long time.
I got my information from an article published on CNNMoney.com called “Bush to Sign Stimulus Package Wednesday” at http://money.cnn.com/2008/02/11/news/economy/bush_stimulus/index.htm.
I believe that this is a good plan but the only problem is, will the taxpayer take the money and spend it on will they just save it and not spend it. I hope that this extra money that we as taxpayer our getting this year will allow us to spend it and put some money back into the economy and help it grow and grow so we can get pulled out of this recession and not let it last a long time.
I got my information from an article published on CNNMoney.com called “Bush to Sign Stimulus Package Wednesday” at http://money.cnn.com/2008/02/11/news/economy/bush_stimulus/index.htm.
Wednesday, February 6, 2008
Super Money
“Super Tuesday” vote day, who do you want Clinton, Obama, or McCain. It is time to make a decision about what direction that we want this country to go in for the next four years. CNNMoney.com states “that the Senate is debating changes to the bipartisan bill that was proposed by President Bush. It was approved by the House last month. The legislation wants to get money in the hands of consumers and give businesses benefits for creating new jobs. I think that this bill is a great idea if it will help the the economy grow and help with the spending issues that the nation is facing now.
In the time of economy problems the Republicans and Democrats have been working together. The House will be voting on this bill this week and President Bush is most likely going to sign the bill on Feb. 15th. The IRS will then ship out the rebate checks to the taxpayers. I hope that this will start an economy surge so that we can get this nation back on top. We need to start pushing the nation’s lawmakers to work on this economy problem that we are having now. So the more that they are willing to give us money to spend and get the money flowing in the economy the better.
This information came from CNNMoney.com; the article is called “Vote near in Senate showdown over economy” at http://money.cnn.com/2008/02/06/news/economy/stimulus_senatevote/index.htm?postversion=2008020610.
Tuesday, February 5, 2008
Election 2008
According to an article published on CNNMoney.com this is one of the most competitive presidential elections in years and it is also on pace to be the most expensive campaign ever. So of the largest public trade compaines are among the biggest contributors to the top candidates. I think that this is a bad thing because these companies that are give money out now are going to be wanting something in return in the end from these candidates if they win. I feel that if you are going to give your money to one of the candidates you should not be doing it for other means of profit in the end.
In 2004 candidates raised a then record of $880.5 million and spent $719.7 million. The CRP (Center for Responsive Politics) has estimated that the candidates will raise up to a $1 billion this election. I think that it is good that they have all this money do they can travel around and talk to people form each state but what I think that people should be caring about the most right now is the facts and stands that they are taking on the issues. We should be election a president for what they believe in and no thow much money that they can bring into there campaign.
The article I used was from CNNMoney.com called"Election '08: Where the Street is putting its $" at http://money.cnn.com/2008/02/04/markets/election_donors/index.htm?postversion=2008020503.
In 2004 candidates raised a then record of $880.5 million and spent $719.7 million. The CRP (Center for Responsive Politics) has estimated that the candidates will raise up to a $1 billion this election. I think that it is good that they have all this money do they can travel around and talk to people form each state but what I think that people should be caring about the most right now is the facts and stands that they are taking on the issues. We should be election a president for what they believe in and no thow much money that they can bring into there campaign.
The article I used was from CNNMoney.com called"Election '08: Where the Street is putting its $" at http://money.cnn.com/2008/02/04/markets/election_donors/index.htm?postversion=2008020503.
Thursday, January 31, 2008
Cuts Can Help
According to the article “Fed Cuts Rates Boldly; Wall Street Wary” the Federal Reserve has cut its interest rates even more in the hope that this will less the blow of the recession. The reduction was a larger half point decrease and also with that the President included for individuals tax rebates and more tax breaks for business to help fire up the economy.
I think that this is a good idea and I hope that it will work because our economy right now is in bad shape and we need to do something to help push it out of this recession. I hope that the recession does not cause a major down fall in the United States.
In the article Wall Street when these cuts first happened becomes charged but at the end of the day the Dow Jones was still down. The good thing was that commercial banks followed the Federal government and decreased the prime lending rate to 6%; which also was down half a percent.
According to the article before all the cuts and decrease the economy virtual stopped. This is due to the destroyed housing market, bad mortgage investments, and credit problems both for people and business. The nation’s foreclosure rate has hit an all-time high which is causing banks billions of dollars in losses. The next meetings for the Federal Reserve are set for March and likely there will be more cuts.
I think that the Federal government is doing everything that it can to help stop this recession. I hope that this will help get the economy back on track and make it stronger. I the next President of the United States is going to have a lot to deal with in the economy when the takeover.
This information came for the article “Fed Cuts Rates Boldly; Wall Street Wary” by Jeannine Aversa at http://biz.yahoo.com/ap/080130/fed_interest_rates.html?printer=1.
I think that this is a good idea and I hope that it will work because our economy right now is in bad shape and we need to do something to help push it out of this recession. I hope that the recession does not cause a major down fall in the United States.
In the article Wall Street when these cuts first happened becomes charged but at the end of the day the Dow Jones was still down. The good thing was that commercial banks followed the Federal government and decreased the prime lending rate to 6%; which also was down half a percent.
According to the article before all the cuts and decrease the economy virtual stopped. This is due to the destroyed housing market, bad mortgage investments, and credit problems both for people and business. The nation’s foreclosure rate has hit an all-time high which is causing banks billions of dollars in losses. The next meetings for the Federal Reserve are set for March and likely there will be more cuts.
I think that the Federal government is doing everything that it can to help stop this recession. I hope that this will help get the economy back on track and make it stronger. I the next President of the United States is going to have a lot to deal with in the economy when the takeover.
This information came for the article “Fed Cuts Rates Boldly; Wall Street Wary” by Jeannine Aversa at http://biz.yahoo.com/ap/080130/fed_interest_rates.html?printer=1.
Monday, January 28, 2008
Now a Global Problem
Despite the Federal Reserve drop in interest rates to help growth in the economy, the United States economy is dragging down the rest of the world. Starting with Japan's market which dropped nearly 4 percent on the worries of the United States economy which has already dropped the Japanese in to a recession.
Some of the biggest problems that the United States is facing is in the mortgage sector. There has been many losses on the subprime and equity markets that have hurt the economy greatly. I believe that the main problem face the United States is the amount of home forclousres that are happening now. The numbers have gone up and they are not getting better. This is really putting a drain on the economy in the United States and the rest of the world.
The United States has done things to help like an emergency 75 basis point Federal Cut and a $150 million plan to start growth. They also want to cut interest rates again. I hope that this will help the economy not just for us but for the rest of the world also.
This infomation can from an article "Economy woes batter global equities" by Jeremy Gaunt from http://www.reuter.com/articlePrint?articleId=USL2545612820080128.
Some of the biggest problems that the United States is facing is in the mortgage sector. There has been many losses on the subprime and equity markets that have hurt the economy greatly. I believe that the main problem face the United States is the amount of home forclousres that are happening now. The numbers have gone up and they are not getting better. This is really putting a drain on the economy in the United States and the rest of the world.
The United States has done things to help like an emergency 75 basis point Federal Cut and a $150 million plan to start growth. They also want to cut interest rates again. I hope that this will help the economy not just for us but for the rest of the world also.
This infomation can from an article "Economy woes batter global equities" by Jeremy Gaunt from http://www.reuter.com/articlePrint?articleId=USL2545612820080128.
Wednesday, January 23, 2008
Ohio is Spending to Much
In Ohio the budget is predicting to be short some were between $733 million and 1.9 billion for the 2009 fiscal year. This can not be good because there is a limited number of things that you can do to fix this problem. So of them can be to cut money to state agencies like education, which is already not getting as much money as they should be.
The state economists have said that we will be in debt $733 million if the economy grows slowly, we could be $1.3 billion if there is no growth what so ever, and there could be $1.9 billion if the economy goes in to a recession. In Ohio the state's budget is $52.3 billion. To me that is a lot of money but to a state government that may not be a lot but I still think that we should be able to keep the budget balance of at least a lot closer than $733 million to $1.9 billion. Because the people that are working on our states budget should be the best for management money at the state government level.
Basically the whole United States economy has been slow in the recent months and many people are debating whether we are in a recession. The Federal Reserve has had emergency rate cut that were designed to help jump start spending to try to get us out of this recession. I hope that this will help the economy grow and get started again so we do not have to go in to a full recession. So problems we have already is that the Dow Jones Industrial Average that has drop over hundreds of points since trade began this year.
The Gov. Strickland has no I idea what programs he is looking to cut to help the government budget problem that the state is facing now. The only good thing that Ohio has in its budget is what they call a "$1 billion so-called rainy-day fund" which the governor may use. But I hope that he will first look at what he can cut from budget first before he uses the money that they have built up over the years. I hope that the state government can work its way out of this problem that we are in now.
I got this information for the article called "Ohio could face $1.9B deficit" for the Enquirer at http://news.enquirer.com/apps/pbcs.dll/article?AID=/20080123/NEWS01/301230067.
The state economists have said that we will be in debt $733 million if the economy grows slowly, we could be $1.3 billion if there is no growth what so ever, and there could be $1.9 billion if the economy goes in to a recession. In Ohio the state's budget is $52.3 billion. To me that is a lot of money but to a state government that may not be a lot but I still think that we should be able to keep the budget balance of at least a lot closer than $733 million to $1.9 billion. Because the people that are working on our states budget should be the best for management money at the state government level.
Basically the whole United States economy has been slow in the recent months and many people are debating whether we are in a recession. The Federal Reserve has had emergency rate cut that were designed to help jump start spending to try to get us out of this recession. I hope that this will help the economy grow and get started again so we do not have to go in to a full recession. So problems we have already is that the Dow Jones Industrial Average that has drop over hundreds of points since trade began this year.
The Gov. Strickland has no I idea what programs he is looking to cut to help the government budget problem that the state is facing now. The only good thing that Ohio has in its budget is what they call a "$1 billion so-called rainy-day fund" which the governor may use. But I hope that he will first look at what he can cut from budget first before he uses the money that they have built up over the years. I hope that the state government can work its way out of this problem that we are in now.
I got this information for the article called "Ohio could face $1.9B deficit" for the Enquirer at http://news.enquirer.com/apps/pbcs.dll/article?AID=/20080123/NEWS01/301230067.
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