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Ugh.  It’s been a week since Ben and Hank announced plans to pump $600 billion into mortgage-backed securities in order to “revitalize” the housing market, which is to say prop up housing prices.  Mortgage rates responded by falling below 6%.  But that’s not low enough for Hank, so he’s considering

This just in from Blown Mortgage.[1] I wrote a year ago about the site, Mortgage Lender Implode-O-Meter, being sued by a mortgage company for damages allegedly tied to the company’s listing on the site’s imploded lender list.

3 Dec 2008 Economics | Tags: Austrian Economics, Black Swans, Central Banking, Econometrics, Fiat Currency, Housing Bubble, Nicholas Taleb, Recession, Rothbard, Statistics, Von Mises, Wall Street |   I’ve recently become intrigued by the writings of Nicholas Taleb.  It resonates with me because his

It's Wintertime for Hitler and Germany! Duetchland is... Er...Perhaps you should just watch the video. It's almost as good as Mel Brooks movie.

Does it seem to you like there is no carefully thought out plan with all these bailouts? You’re not alone: [Thanks L!] The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.

If you needed a sign about how little respect Pete Carroll has for UCLA ahead of their rivalry game this Saturday, consider this nugget from the ORANGE COUNTY REGISTER: the Trojans are going to be wearing their home Cardinal and Gold uniforms for the game, even though it’s going to cost them a time out each half.

Pea Shoot Bubble and Squeak, originally uploaded by lucyellis1976. I (N.) don’t know about you but I was never served Bubble and Squeak growing up, perhaps because we aren’t British? I found a recipe for it on a blog (I apologize for not remembering which one) and decided to give it a whirl.

From Bloomberg: Recession in U.S. May Be Just Beginning as Job Losses Mount The U.S. economy, now officially in recession, may be in the midst of the longest slump in the post- World War II era as job losses mount and credit dries up.

Here is Housing Doom’s fifth installment of our unauthorized annotated transcript of the American Enterprise Institute’s October 30, 2008 seminar "The Deflating Mortgage and Housing Bubble, Part IV: Where Is the Bottom?" [1] This is the presentation by Chris Whalen. He makes use of a slide deck.[2] Here is the official transcript.

A recent report has shown that over the course of this year repossession levels in the UK have been rising, as more and more struggling homeowners have been forced out of their homes after being unable to keep up with repayments due to increased living costs, higher bills, and expensive borrowing costs.