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Your periodic update to help survive the
zombie capitalism of post-bubble, 21st Century America

This Video is a Must-Watch if you consider yourself a real member of this community!

Elizabeth Warren: STRESS TEST IS ALREADY OBSOLETE...
 WE'RE BLOWING THROUGH THE "WORST CASE" SCENARIO...

Airtime: Tues. Jun. 9 2009 | 6:13 AM ET

Whether ( Read more... )

First, a special community note: A special thanks to those of you who really do read and/or participate! Here at the_recession, we know that there are lots of options for where you can get your doom and gloom, and we value your commiseration ( Read more... )

This is the heavy heavy mortgage sound. The nuttiest sound around.

“It was a recipe for disaster that everyone should have seen coming...

CNBC - Excerpts From: 
Fed May Alter Strategy As Long-Term Rates Surge
The Federal Reserve is studying significant moves in the U.S. government bond market last week that could have big implications for the central ( Read more... )

H/T: Mish Shedlock

Field Check Group

Mortgage Rates - It Could be as Bad as You Can Imagine
With respect to yesterday’s in the mortgage market - yes, it is as bad as you can imagine. No call can be made on the near-term, however, until we see where this settles out over the next week of so. If rates do stay in the mid 5%’s, the mortgage and housing ( Read more... )

"Bailout" was the 2008 Word of the Year
..."Green Shoots" might just be 2009's Phrase of the Year!

( Read more... )

More and more evidence is mounting that when NBER gets around to declaring the US recession over, they will peg May as the end of the recession, and start of the recovery. Unfortunately, more and more evidence is also mounting that should the recession actually be over, we could be in for many quarters, perhaps even several years, of significantly ( Read more... )

Eschaton brings us the new wave. Looks like we are right now in the very lowest point of the trough, with a wave of potential foreclosures looming right before us.

I mean, freakin' hell, people, an over 80% increase in mortgage payments by mid '11?

My wife works at one of the big public corporate banks. Specifically, she works in the local mortgage office ( Read more... )

CNBC:
Spring Sale: Home Sellers May Flood the Market SoonGet ready for a Spring housing boom ( Read more... )