Housing Market

Pending Home Sales Plunged Last Month as Mortgage Rates Hit 20-Year Highs

September 29, 2023 RickMad Comments Off on Pending Home Sales Plunged Last Month as Mortgage Rates Hit 20-Year Highs

CNN.com: US pending home sales dropped 7.1% in August from the month prior as mortgage rates surging over 7% in August to levels not seen in 20 years packed a punch. Pending sales had been […]

Economy

Peter Schiff: It’s the Beginning of the End of This Whole Phony Economy

September 28, 2023 RickMad Comments Off on Peter Schiff: It’s the Beginning of the End of This Whole Phony Economy

Schiffgold.com: Interest rates continue to push relentlessly higher. As Peter Schiff explained in his podcast, that’s a big problem when the entire economy is built on a foundation of cheap money. But most people in […]

Credit and Debt

The Great Debt Crisis of Our Lifetimes is Approaching

September 20, 2023 RickMad Comments Off on The Great Debt Crisis of Our Lifetimes is Approaching

ZeroHedge.com: The Great Debt Crisis of our lifetimes is approaching. As S&P Global recently noted, global debt has just hit $300 TRILLION for the first time in history. As if that wasn’t jaw dropping enough, […]

Debt Ceiling

U.S. National Debt Tops $33 Trillion for First Time

September 19, 2023 RickMad Comments Off on U.S. National Debt Tops $33 Trillion for First Time

NYTimes.com: The fiscal milestone comes as Congress is facing a new spending fight with a government shutdown looming. America’s gross national debt exceeded $33 trillion for the first time on Monday, providing a stark reminder of the […]

Housing Market

Homebuilder Sentiment Goes Negative For The First Time In 7 Months, Thanks To Higher Mortgage Rates

September 18, 2023 RickMad Comments Off on Homebuilder Sentiment Goes Negative For The First Time In 7 Months, Thanks To Higher Mortgage Rates

CNBC.com: U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates. Builder confidence in the single-family housing market fell 5 points in September to […]

Economy

Yield Curve Pioneer Warns Fed Not To Raise Rates, Predicts Possible Recession In 2024

September 18, 2023 RickMad Comments Off on Yield Curve Pioneer Warns Fed Not To Raise Rates, Predicts Possible Recession In 2024

FoxBusiness.com: The yield curve inversion has continued for 212 days, Campbell Harvey says. Yield curve pioneer Campbell Harvey warned the Federal Reserve against raising rates again later this year, telling FOX Business on “The Claman Countdown” […]

Interest Rates

‘Shark Tank’ Investor Kevin O’Leary Warns Of ‘Real Chaos’ In The Coming Months As High Interest Rates Batter The US Economy

September 18, 2023 RickMad Comments Off on ‘Shark Tank’ Investor Kevin O’Leary Warns Of ‘Real Chaos’ In The Coming Months As High Interest Rates Batter The US Economy

BusinessInsider.com: “Shark Tank” star Kevin O’Leary thinks high interest rates are about to spark a fresh bout of chaos in the US economy. The famed investor pointed to high interest rates as the result of […]

Technology

The New iPhone 15 is a Solid Upgrade For People With Old Phones. Here’s Why

September 14, 2023 RickMad Comments Off on The New iPhone 15 is a Solid Upgrade For People With Old Phones. Here’s Why

USAToday.com: Sometimes, it really is the little things that matter. That is, as long as there are a lot of them. Such is the case with Apple’s latest smartphone, the iPhone 15, which the company unveiled alongside […]

Electric Vehicles

Florida Lawmakers Aim to Require Electric Vehicle Owners to Pay $200 in Annual Registration Fees

September 14, 2023 RickMad Comments Off on Florida Lawmakers Aim to Require Electric Vehicle Owners to Pay $200 in Annual Registration Fees

FoxBusiness.com: The cost would increase to $250 starting in 2029. A Republican lawmaker in Florida proposed a registration fee aimed at helping make up for lost gas tax dollars.  State Senate Transportation, Tourism and Economic Development Appropriations Chairman […]

Housing Market

Mortgage Demand Stalls at a Level Not Seen Since 1996

September 13, 2023 RickMad Comments Off on Mortgage Demand Stalls at a Level Not Seen Since 1996

CNBC.com: Higher mortgage rates continue to take their toll on mortgage demand, especially for refinancing. Total mortgage application volume dropped 0.8% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally […]