Interesting Tidbits for October 23rd 2012

Gas Prices Are Up!!! Feelin' the Pinch...

Gas Prices Are Up!!! Feelin’ the Pinch… (Photo credit: Clan UiBriain)

The average price for Gasoline (all types) in 2002 was $1.44. The average price in 2012 (all Types) is $3.73, for a percent increase of 158%.

The average price for Coffee (per pound) in 2002 wa s $2.92. The average price in 2012 (per pound) is $5.58, for a percent increase of 90%.

Bloomberg reports debt has declined to a 6Y low relative to the size of the U.S. economy, driven by deleveraging from consumers, municipalities, businesses and homeowners. Total indebtedness has declined to 3.29x GDP, the lowest since 2006. Consumer debt has fallen from $12.7T in 2008 to $11.4T as of 2Q 2012 (down 10.2%).

The latest data from the Census Bureau finds homeownership fell to 64.6%, the lowest in 7Ys.

Analysis by the WSJ finds Countrywide has cost Bank of America about $40B since the deal was closed.

A report by housing nonprofit Enterprise Community Partners finds less than 50% of the money paid out to states as part of the $2.5B mortgage foreclosure settlement has been used to help distressed homeowners. Instead, states have used it to closed budget gaps. The report finds only 14 of the 49 states that received monies spent their allotment on housing relief.


Branch Manager that has worked in the small to medium sized business lending field. I have experience in all types commercial lending and I'm here to provide insights from a lender's point of view. I hope to impart some knowledge that can take your business or profession to the next level. I currently work as a Branch Manager at the 10th & Bannock Office for Banner Bank in Boise, Idaho.

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Posted in Coffee, Consumer, Credit, Debt, Deleveraging, Gasoline, Homeownership, Inflation, Small Business

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