"Mass. banks feeling the pinch; Delinquencies up and assets fall, but some regions fare worse" by Ross Kerber, Globe Staff | August 27, 2008
A slowing economy is starting to take its toll on Massachusetts banks, according to federal data released yesterday showing state-chartered institutions with fewer assets and an increasing level of delinquent loans.
But --more--"
July house prices in the Boston area suffered the largest decline since the current housing market downturn began two years ago, while statewide prices had the biggest drop since 1987.
But there is a bright side to the data: The drop in sales activity is losing steam.
--more--"
NEW YORK - Americans felt better about the economy in August, as a barometer of sentiment posted the biggest boost in two years amid falling gas prices. Two reports suggested a bottom could be nearing for the housing market, but....
Falling gas prices have helped boost consumers' moods, Franco said. Gas prices have dropped 15 cents in the last two weeks, according to the Lundberg Survey of 7,000 US gas stations. The average price of regular gasoline at self-serve stations was $3.70 on Friday.
Despite that, gas nationally was almost 95 cents a gallon higher than a year ago, and the volatility in oil prices are a big concern for investors. But yesterday's reports helped offset a spike in oil prices that rose out of concern Hurricane Gustav might hit installations in the Gulf of Mexico in coming days.
"If the storm continues on its path, it could drive up U.S. gasoline prices by 10 cents a gallon ahead of Labor Day weekend, predicted James Cordier, president of Tampa, Florida-based Liberty Trading Group and OptionSellers.com"
Ya tired of the lies yet?
--more--"
Let's toss one more at you:
WASHINGTON - Despite the apparent good news, the new census report does not take into account the turmoil that has racked the nation's economy this year, leading to sharp spikes in joblessness and a reduction in hours for many employees. Also, while the indicators are positive over one year, the trends are less promising when viewed over a longer time frame.
Translation: This is ONE MORE GOVERNMENT REPORT that is BULLSHIT, FEEL-GOOD PROPAGANDA!!!
The report highlights the nation's growing income inequality and persistent sluggishness of wages for typical Americans, which growing numbers of economists called one of the most troubling aspects of the new economy.
--more--"
Translation: The populace is sick of being raped by globalist looters!
Also see: Richers Get Richer
