Busted: Bankers and The Global Economy

March 14, 2008

U.S. Foreclosures Up 60%

Filed under: banking, federal reserve, government, investment, money, politics — Tags: , , , , , , — digitaleconomy @ 6:55 am

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Foreclosure filings nationwide jumped 60% in February compared with the same month last year, but they decreased slightly versus January.

The report from RealtyTrac suggests that efforts from government and consumer groups to combat the rising number of foreclosures have not had a significant impact, according to Jared Bernstein, a senior economist at the Economic Policy Institute.

“I don’t see evidence that any of the interventions we’ve been implementing are having any effect,” Bernstein said. He claims the report “doesn’t show that measures have failed but it’s pretty clear that nothing we’ve undertaken is slowing foreclosures.”

Meanwhile, the Fed continues to print money unabated with the net effect of increasing inflationary pressures, while reducing the value of the dollar on the world market in an effort to sustain the economy through volume. ~ E.M.

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2 Comments

  1. I disagree, the FED’s issuance of new money has drastically influenced the value of the dollar.

    Although, I agree that their response has had no impact on the foreclosure rate or the financial institutions.

    -James
    http://www.thepoliticus.org

    Comment by jposty — March 14, 2008 @ 7:23 am

  2. Hi,
    By the age of six the average child will have completed the basic American education…. From television, the child will have learned how to pick a lock, commit a fairly elaborate bank holdup, prevent wetness all day long, get the laundry twice as white, and kill people with a variety of sophisticated armaments.

    Comment by Bank charges — March 15, 2008 @ 8:13 pm


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