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The Impending Subprime Interest Rate Freeze
The White House is working with lenders to attempt to freeze rates on subprime mortgages in an effort to lower the number of potential foreclosures due to the subprime mortgage crisis. The White House has recently unveiled a plan to help mitigate the wave of foreclosures that have recently swept the US as reports continue to predict that an even greater number (some estimate as much as 2 million) of Americans are likely to default within the next year.
Best Way to Spur the Economy in 2008 – Close As Much of the Bureaucracy as PossibleAs the United States slips into a mild recession in 2008, which will last well into 2009, we see a huge problem with job losses and lay-offs. But there is even a harsher challenge on the horizon – Small Business Failures. Typically, small businesses employ two-thirds of the US workforce and when they have severe financial stress there is not a whole lot left to hold up the economy. You can see how the spiral can spin out of control; but what can we do?