Existing Homes Sales Expected To Crash More

Existing Homes Sales Will Probably Drop MoreMouse over picture

Existing home sales ticked downward in March, with much of the decline concentrated in the mid-west and the south.

Sales are now off 32% since June of 2005 and inventories remain stubbornly high.

As recession fears continue, downward pressure will likely remain for some time to come

Jim Stack of InvesTech Research

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Oil Could Reach $200 A Barrel

Goldman’s Murti Says Oil `Likely’ to Reach $150-$200

Oil at $200 a Barrel - Guess What Gas Will Do?

By Nesa Subrahmaniyan

May 6 (Bloomberg) — Crude oil may rise to between $150 and $200 a barrel within two years as growth in supply fails to keep pace with increased demand from developing nations, Goldman Sachs Group Inc. analysts led by Arjun N. Murti said in a report.

New York-based Murti first wrote of a “super spike” in March 2005, when he said oil prices Continue reading

Financial Doom – Current Best Sellers

MSN Money

Go ahead and read those apocalyptic books on the economy if you like a good scare. But be sure you recognize fiction when you see it.

By Jim Jubak

If fairy tales express our deepest fears, then investors must be on the verge of a psychotic breakdown.

The current crop of financial gloom-and-doom books carry titles such as “America’s Financial Apocalypse,” “Financial Armageddon” and the comparatively prosaic “The Coming Economic Collapse.”

Any way you go, it means the end of the world (the end of the financial world, anyway). And that’s scary. Really, really scary.

But we need to remember that while fairy tales may reflect real fears, they aren’t reliable guides to how the world works. That’s true whether the main character is named Snow White or Ben Bernanke.

Sigmund Freud, Carl Jung and Bruno Bettelheim all theorized that we read fairy tales about evil stepmothers, parental abandonment in dark woods and child-eating witches to help us express and then cope with our darkest fears.

The psychological value of these tales, in this theory, lies in the formulaic, repeated return to archetypical fears in what the reader knows — even a reader as young as my 6-year-old daughter — is a fiction. It also helps that, unlike real-life horrors, these tales usually have happy endings.

This current crop of financial-disaster books should be read the same way — as financial fairy tales that represent our darkest financial fears and then allow us to cope with those fears by offering up happy endings in the form of investment strategies that can fend off disaster.

So what are investors’ deepest fears right now? Continue reading

It’s a recession to 4 out of 5 Americans

CNN Money Poll - We are in Recession

A CNN/Opinion Research poll shows that the nation is becoming more convinced the economy is in a nosedive.

By Catherine Clifford, CNNMoney.com staff writer