Keyword: grapesofwrath

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  • Leonard Pitts Jr.: 'The Grapes of Wrath' Resonates, 75 Years Later

    04/23/2014 4:07:38 PM PDT · by nickcarraway · 14 replies
    San Jose Mercury News ^ | 04/23/2014 | Leonard Pitts Jr.
    It was an angry book. Much of the response was angry too. Some towns banned it, some towns burned it. Every town talked about it. "The Grapes of Wrath" was published 75 years ago this month, a seminal masterpiece of American literature that seems freshly relevant to this era of wealth disparity, rapacious banks and growing poverty. John Steinbeck introduced readers to the Joads, a poor, proud clan of Depression-era Oklahoma farmers who set out for the promised land of California in a rickety truck after their own land dries up and blows away and the bank seizes what little...
  • "GRAPES OF WRATH" To be re made.

    07/03/2013 8:16:56 AM PDT · by SMARTY · 84 replies
    July 3, 2013 | Me
    I am reading that the film "Grapes of Wrath" will be re made. It’s a Dreamworks/Spielberg plan. I am so heartily sick to death of the Hollywood smarmy and criminally skewed interpretation of American life and American history. I don’t even want to think of the Liberal orgy of ‘I hate America’ this will be. All the while they are cashing in and living like royalty for ritually subverting the historical facts. Capitalism works… the inevitable boom and bust cycles are what hard working people save for and the reason that credit should always be avoided like poison. However,...
  • The recession tracks the Great Depression

    06/17/2009 7:19:31 PM PDT · by FromLori · 27 replies · 1,586+ views
    Green shoots are bursting out. Or so we are told. But before concluding that the recession will soon be over, we must ask what history tells us. It is one of the guides we have to our present predicament. Fortunately, we do have the data. Unfortunately, the story they tell is an unhappy one. EDITOR’S CHOICE Tight rules helped mitigate crisis in Brazil - Jun-16 Economists’ forum - Oct-01 Opinion: The three steps to financial reform - Jun-16 In depth: Global financial crisis - Sep-04 Economics: How the world economy might recover its poise - Jun-15 Two economic historians, Barry...
  • Tracking The Second Great Depression

    06/17/2009 5:12:51 AM PDT · by FromLori · 15 replies · 1,418+ views
    So far, the collapse of the world economy since mid-2008 has been worse than it was in the Great Depression. In fact, one glance at the fall world output, trade, and stock prices really puts the "green shoots" in perspective. The government policy response to the collapse, however, has been much more aggressive. Thus, we will soon collectively learn whether the economic historians are right that the original Great Depression was caused by "policy errors" after the collapse...or whether, as some suspect, there is simply no way to avoid catastrophe after a financial bubble the size of the one we...
  • CHART OF THE DAY: We're On The Depression Path

    06/09/2009 7:26:22 AM PDT · by FromLori · 9 replies · 926+ views
    <p>If you look hard enough, you can find some green shoots, but here's the truth. The decline in world industrial output is tracking very close with what we saw during the Depression. This chart was put together by economists Barry Eichengreen and Kevin O'Rourke, as part of a broader study comparing this downturn with the Great Depression. The good news, they say: The policy response has been much better this time around.</p>
  • Grapes of Wrath, a classic for today?

    04/19/2009 3:23:37 PM PDT · by JoeProBono · 77 replies · 2,037+ views
    bbc ^ | 4 April 2009 | Robert DeMott
    The Grapes of Wrath, published exactly 70 years ago, can be seen as a prophetic novel - rooted in the tragedies of the Great Depression, but speaking directly to the harsh realities of 2009, writes Steinbeck scholar Robert DeMott. Steinbeck's epic novel, which traces the harrowing exodus of Tom Joad and his family from blighted Oklahoma (where they are evicted from their farm), across the rugged American south-west via Highway 66, and on to what they mistakenly hope will be a more promising future in California, is considered by many readers to be the quintessential Depression-era story, and an ironic...
  • LQD: Roubini predicts the worst financial crisis

    07/15/2008 9:07:59 PM PDT · by Freedom_Is_Not_Free · 60 replies · 321+ views
    European Tribune ^ | July 15, 2005 | Nouriel Roubini
    RGE Monitor MEDIA ALERT: Nouriel Roubini predicts the worst financial crisis since the Great Depression and the worst U.S. Recession in the last few decades. New York, July 15, 2008- In a series of recent writings on the RGE Monitor Nouriel Roubini - Chairman of RGE Monitor and Professor of Economics at the NYU Stern School of Business - has argued that the U.S. is experiencing its worst financial crisis since the Great Depression and will undergo its worst recession in the last few decades. His analysis leads to the following conclusions: This is by far the worst financial crisis...
  • This Recession, It's Just Beginning

    06/27/2008 11:15:35 AM PDT · by The_Republican · 82 replies · 133+ views
    Washington Post ^ | June 27th, 2008 | Steven Pearlstein
    So much for that second-half rebound. Truth be told, that was always more of a wish than a serious forecast, happy talk from the Fed and Wall Street desperate to get things back to normal. It ain't gonna happen. Not this summer. Not this fall. Not even next winter. This thing's going down, fast and hard. Corporate bankruptcies, bond defaults, bank failures, hedge fund meltdowns and 6 percent unemployment. We're caught in one of those vicious, downward spirals that, once it gets going, is very hard to pull out of. Only this will be a different kind of recession --...
  • Home sales, prices show record weakness

    NEW YORK ( -- Sales of existing homes fell to a record low in October, according to the latest reading on the battered housing market by an industry trade group released Wednesday, as even the largest drop in home prices ever wasn't enough to revive moribund sales. The National Association of Realtors reported that sales of homes by homeowners fell to an annual pace of 4.97 million in October, down from the revised 5.03 reading in September, which was the previous record low since the trade group started tracking sales on that basis in 1999. Economists surveyed by had...
  • Mortgage Applications Fall as Rates Soar (ARMs Adjusting UP)

    11/28/2007 6:50:02 AM PST · by Hydroshock · 41 replies · 100+ views
    Applications for U.S. home mortgages fell last week as rates on some adjustable loans soared to their highest levels in more than two months, according to data from an industry group Wednesday. RELATED LINKS Comments Lift Sentiment Stocks Open Higher Durable Goods Orders Fall for Third Straight Month Mortgage Applications Fall as Rates Soar The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 4.3 percent to 652.5 in the week ended Nov. 23. Rates on one-year adjustable-rate mortgages that include many jumbo loans climbed 26 basis points to 6.24 percent, the highest since the height...
  • Consumer spending [growth] lowest in 3 months (thanks, CNN)

    WASHINGTON (AP) -- Consumers, battered by a steep downturn in housing and a severe credit crunch, slowed spending growth in September to the weakest performance in three months. The Commerce Department reported Thursday that consumer spending rose by 0.3 percent in September, slightly lower than the 0.4 percent increase that analysts had been expecting. Incomes grew by 0.4 percent, matching the August gain, and in line with analysts' forecasts. Video More video The latest in business news with the business bulletin. Play video Economists are worried that consumers, the main support for the economy, may cut back on their...
  • Real estate: More price drops, more layoffs

    10/17/2007 6:05:33 AM PDT · by Hydroshock · 8 replies · 300+ views
    <p>BOSTON ( -- For those in the real estate industry and for those looking to buy or sell a home, it could take until 2009 to catch a break.</p> <p>That's the forecast from Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), who will present his outlook to an auditorium full of real estate professionals on Wednesday morning.</p>
  • Housing starts, permits plunge

    <p>NEW YORK ( -- Builders continued to slam the brakes on new homes in September, as the government's latest reading on the battered market out Wednesday showed housing starts and permits were weaker than expected at levels not seen for more than a decade.</p>
  • Pending home sales at record low

    10/02/2007 7:52:07 AM PDT · by Hydroshock · 14 replies · 260+ views
    <p>NEW YORK ( -- The meltdown in the mortgage market in August dried up the supply of buyers for homeowners looking to sell their homes, as an industry group report showed the lowest level of homes under contract on record.</p>
  • Subprime: Big talk, little help

    NEW YORK ( -- The bullhorn message from the government to mortgage lenders has been: Bend. Do what you can to help struggling homeowners. The message to troubled homeowners has been: Call your lender. You may be able to work something out. Despite the persistent blare, there is not a whole lotta "loan modifying" going on yet. A survey by Moody's found that most loan servicers this year had modified only about 1 percent of their adjustable-rate mortgages (ARMs) that had reset to higher rates by the end of July. At the Consumer Credit Counseling Service (CCCS) of San Francisco,...
  • Durable goods orders below forecasts

    WASHINGTON (AP) -- Demand for big-ticket manufactured goods plunged in August by the largest amount in seven months, with widespread weakness signaling a slowdown in the nation's industrial sector. The Commerce Department reported Wednesday that orders for durable goods, everything from commercial jetliners to home appliances, fell by 4.9 percent in August, the biggest decline since a 6.1 percent fall in January. It was far larger than the 3.5 percent drop that economists had been expecting and resulted from across-the-board decreases in a number of categories. The concern is that the steep downturn in housing and turbulence in financial markets...
  • S&P says 2Q house prices fell by record amount (Record have been kept since 1987)

    08/28/2007 10:10:28 AM PDT · by Hydroshock · 50 replies · 982+ views
    NEW YORK - U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor's began its nationwide housing index in 1987, the group said Tuesday. The decline in home prices around the nation shows no evidence of a market recovery anytime soon. MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market "shows no signs of slowing down." The index tracks the price trends among existing single-family homes across the nation compared with a year earlier .
  • California cities fill top 10 foreclosure list

    <p>NEW YORK ( -- The binge that many housing markets went on in the early- to mid-2000s is over, and some of the hottest markets like California are now experiencing the worst hangovers.</p> <p>But other areas, especially many that recorded slower home price growth earlier this decade, have seen little increase in foreclosure rates, according to the latest data released Tuesday from RealtyTrac, the online marketer of foreclosure properties.</p>
  • Credit card defaults keep rising, report says

    <p>NEW YORK ( -- American consumers are defaulting on their credit cards at a sharply higher rate compared to last year, in what could be another consequence of the recent subprime mortgage market crisis, according to a report published Tuesday.</p>
  • No Savior for Mortgage Biz

    08/28/2007 6:45:15 AM PDT · by Hydroshock · 24 replies · 490+ views
    <p>Waiting to see big banks piling into the mortgage business a la Bank of America (BAC - Cramer's Take - Stockpickr - Rating)? Don't hold your breath.</p> <p>BofA surprised Wall Street last week by making a $2 billion bet on struggling Countrywide (CFC - Cramer's Take - Stockpickr - Rating). The news, announced after the close last Wednesday, gave Countrywide's sinking stock a one-day reprieve.</p>