Not the Free Market’s Job

A bunch of people are tweeting and retweeting the question “I didn’t look today, did the free market clean up the oil yet?”

I have a couple of responses to that. First that there is no such thing as a free market. You’re not free to sell something unless someone else is willing to . . . → Read More: Not the Free Market’s Job

Tax Credit A Strong Stimulant For Exisiting Home Buyers In April

Existing home sales soared in April as existing home buyers rushed to take advantage of the tax credit that expired at the end of the month.

On Monday, the National Association of Realtors reported that existing home sales jumped 7.6% last month to a seasonally adjusted annual rate of 5.77 million units, up from . . . → Read More: Tax Credit A Strong Stimulant For Exisiting Home Buyers In April

Economic Events on May 26, 2010

The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week decrease of 3.3% last week, showing continuing weakness in the housing market since the second financial stimulus program for home sales came to a close at the end of April.

At 8:30 AM EDT, the Durable . . . → Read More: Economic Events on May 26, 2010