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April 2008 US Foreclosures Set Record Level

U.S. home foreclosure filings set a new record level high in April, 2008, rising about 65% over the previous year and placing municipalities at risk by cutting into the value of taxed property. The U.S. Foreclosure Market Report was released on May 14,2008 by the RealtyTrac, an online marketplace that tracks foreclosed properties.

There are still many optimists about who seem to think that the worse of the financial crisis is over. Current data suggests otherwise and that foreclosures will continue to increase over the next year to 18 months. It is hard to see the US economy doing well with massive numbers of foreclosures dragging down the value of the entire US housing market.

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14May2008 | taipan | 0 comments | Continued
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America’s Dependence Upon Cheap Energy

America and the American Empire were build on the back of cheap energy. Now that energy is not at all cheap the empire is running on gas fumes. The growth model has been broken, even if most Americas don’t realize it yet. But they soon will as crude oil prices move even higher.

Just think about how American developed as a nation. The concept of manifest destiny meant that we pushed ever westward, until America controlled all of the vast territory from the Atlantic to the Pacific, from sea to shining sea and beyond as we added Alaska, Hawaii, Puerto Rico, and Guam.

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12May2008 | taipan | 0 comments | Continued

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