This struck me as an interesting point from Capital Commerce, one of my favorite blogs that links economics and politics: "A record 26 percent of U.S. homeowners say the value of their homes has fallen during the past year, above the previous peak of 24 percent seen in 1992, a Read more…
Top line numbers: The number of foreclosure filings reported in the U.S. last month more than doubled versus August 2006 and jumped 36 percent from July, a trend that signals many homeowners are increasingly unable to make timely payments on their mortgages or sell their homes amid a national housing Read more…
I have argued that housing will be a big issue in 2008. Matt Stoller of Open Left has a great example of one way that this is playing out in a Maryland Democratic primary. The Washington Post has a story about how the housing crisis is impacting the Fort Myers Read more…
James Pethokoukis at Capital Commerce asks an important question. Where is the economics in the GOP primary? Talk about weird. It was as if Wednesday night’s Republican presidential debate hosted by Fox News was beamed in from an alternate reality— Earth 2 or something—where the economy is still booming and Read more…
Excuse the disorder of my notes. This should have somewhat more organized thoughts. In some real sense this was my first exposure to Huckabee as a candidate. I had interacted with him previously through the Young Republicans, and I knew that he was doing what he was doing to move Read more…
I am really surprised that the tax fight hasn’t been engaged really. There was some, but not too much, noise when the tax-raising budget was passed by a Democratic Congress. But this is going to come back. In theory, the Bush administration helped the 2008 GOP nominee because imminent, steep Read more…
I think that this is fascinating. Here’s what the Machinists say: “Mike Huckabee was the only Republican candidate with the guts to meet with our members and the only one willing to figure out where and how we might work together,” said Buffenbarger. “He is entitled to serious consideration from Read more…
The AP has a story on Bush’s proposals on housing and the subprime mess. I am glad to see that "no bailout" is part of the answer. A lot of people are saying that we have pulled out of it. There were two sentences that should remind people that the Read more…
Marc Ambinder reports that the International Association of Machinists and Aerospace Workers endorsed Mike Huckabee. I wonder how many of these are Republicans? Does it hurt Huckabee by confirming his less-than-conservative economic record?
This week the stock market seems a little more stable, and the fed has injected more liquidity in the markets. But don’t be confused. Things are bad and could get much, much worse. The top-line story is that July foreclosures are 9% above June. Recall several facts. First, foreclosures come Read more…