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Monday, April 5, 2010
Survey Shows Record Number of Americans Ready to Leave the U.S.
In a survey of readers on March 22, 2010, InternationalLiving.com found that nearly 96% of respondents said they are more likely to move out of the United States than they were last year.
More than 500,000 readers of the company's free Daily E-letter were asked a single question: Are you more open to moving outside the United States than you were 12 months ago?
A stunning 95.6% of those who responded said they were now more willing to make the move and leave the U.S.
"We suspected from record attendance at our global conferences this year that something big was happening to attitudes in the U.S.," said Jackie Flynn, publisher of InternationalLiving.com.
"The economy is faltering," said Flynn, "unemployment is at record levels, the health care debate nearly caused a civil war, and there are real wars being fought on two fronts in the Middle East. The cost of living is going up so fast that people are being priced out of their retirements. It's no wonder our readers are getting serious about moving abroad." (more)
More Toxic Paper: New Subprime Bonanza in the Housing Market
Whew. That was fast. It didn't take long for Wall Street to figure out how to game Obama's new mortgage modification program, did it? The plan was hyped as help for "struggling homeowners", but it turns out, it's just another stealth bailout for pudgy bank-execs. It's funny, the program hasn't even kicked in yet and, already, bigtime speculators are riffling through their filing cabinets looking any garbage paper they can find to dump on Uncle Sam. Take a look at this on today's Bloomberg report:"Subprime-mortgage securities are rising at an accelerating pace as the U.S. begins to encourage reductions to homeowners’ balances, which may lead to fewer foreclosures and a quicker end to the housing slump....Senior-ranked bonds tied to borrowers with poor credit will mostly benefit after the Treasury Department said for the first time it would seek to cut the size of mortgages, reducing the likelihood that loan modifications will fail, according to JPMorgan Chase & Co., Morgan Stanley and Barclays Plc. (Bloomberg) (more)
Sharp Increase in March in Personal Bankruptcies
More Americans filed for bankruptcy protection in March than during any month since the federal personal bankruptcy law was tightened in October 2005, a new report says, a result of high unemployment and the housing crash.
Federal courts reported over 158,000 bankruptcy filings in March, or 6,900 a day, a rise of 35 percent from February, according to a report to be released on Friday by Automated Access to Court Electronic Records, a data collection company known as Aacer. Filings were up 19 percent over March 2009. The previous record over the last five years was 133,000 in October. (more)
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