EQUITIES Magazine September Issue Now Available in Digital Format on Website
Richard Suttmeier's latest blog addresses concerns over housing and banking as mortgage delinquencies rise to 9%. Though economists and strategists site textbook statistics from past recessions that indicate the recession is over, Suttmeier reasons that the world continues to be overleveraged in debt and derivatives and that the numbers associated with the problems are staggering.
The post,” Fed Minutes Will Provide Market Rally”, shares that The National Bureau of Economic Research time stamps the start and end of the Recession. They base their judgments on job creation, not GDP growth. The employment data in September was worse than anticipated with hours worked near a record low of 33 hours. Counting part time workers and those who left the work force, the unemployment rate is above 17% not 9.8%.
Furthermore, the Congressional Oversight Panel is critical of Obama’s housing plan and TARP. While the Treasury Department touts the successes of the Obama foreclosure prevention program, the COP tells it like it really is. The U.S. Treasury reported that 500,000 homeowners started a 90-day trail mortgage modification, but as of September 1st only 1, 711 have been approved for permanent loan modifications.
To continue reading this post and to read more of Richard Suttmeier’s Stock Strategies, click here.
About Richard Suttmeier
Richard Suttmeier is the chief market strategist for ValuEngine.com. Richard is an industry leader on the housing market and banking system and writes a newsletter covering The Great Credit Crunch. He produces a List of Problem Banks by name. He produces daily and weekly briefings covering the US Capital markets. Richard Suttmeier’s ValuEngine Four In Four video is available on forextv.com.
About Us
Since 1951, EQUITIES has served both retail and institutional investors by examining industry trends, analyzing strategies and opportunities, and profiling financial leaders and emerging public companies. Its global audience increased dramatically after the launch of its European and digital versions, as well as its website, which provides free real-time market quotes and a free customizable, real-time portfolio-management interface. EQUITIES is also one of a select group of publications available on the Apple iPhone.
