Economics/Geekonomics

Harper’s Article on “Stopping Payment” on Homes and More

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Worth Reading: Harpers look at movements to take on banks over MERS and stop payments on loans. It's hefty reading, so it may only be for the dedicated, but I'd take a gander.

Essentially between the MERS mess people can take on the banks, it's got a bit of a movement behind it. This is reminiscent of other movements dealing with financial law, and might just combine with similar movements (anti-tax, state sovereignty, local control, etc.). It also has potential to combine with Occupy Wall Street.

It also means that the anger with the housing mess has a chance to mutate into something else, and banks have to keep up  . . . which they're not to good at.

– Steven Savage

Eco/Geekonomics – Sears and Kmart stores to close

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Not a happy holiday season apparently.

I had been hearing about trouble at Sears, but not the Kmart part of Sears Holdings.  There's a hefty amount of stores closing, about 100-120.  I'm sure the lousy economy is an obvious part of it – as is the move to online (and man, judging by the scene out here during shopping time, online is a good bet).

They're also not alone – Wal-Mart is hurting.  They just have presence, gobs of cash, and stranglehold on their side.

So why is this here, in our Sanctum Geektorum?  Because this is big news:

  • Those quick retail jobs people rely on for cash are going to be affected by lack of opportunity.
  • If there is more of a move online that may change opportunities – and bring some for you.  As I've noted many times I still think Wal-Mart is going to try and build an online presence.
  • Amazon is more likely to be further in the crosshairs after this because, well, e-commerce and such.  This is going to further negative attention on Amazon – though it may result in a can't-beat-em-join-em approach.
  • These closings could affect communities severely depending on where they are.  It may affecy yours.
  • It's a reminder many brands are not "sacred" in this economy.  Your name will not necessarily save you today.

– Steven Savage

Economic Headdesk Time: Home Sales Worse Than Thought

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OK I've gone on about the housing market.  And on, and on.  Yeah, it may not seem very Geeky, but that's a major part of our economic woes the last few years, and a prime study in Industrial Grade Stupid and Wrong.

Well the Stupid was not Industrial Grade, it was even higher Quality: The National Association of Realtors was overcounting home sales.  For five years.

End result?  The housing market, already bad, is worse than we thought.  Oh, and it probably puts other statistics into question.

Your takeaways:

  • A lot of people can't do statistics, apparently including some people whose job it is.
  • The housing market is worse than thought – I'll reiterate my previous claims, I think a recovery may be a decade away.  By then so much will have changed we may not even know it's one.
  • I think this may actually be an honest mistake (that no one was anxious to check for mistakes).
  • This will probably not get a lot of notice.  Unfortunately.
  • On pure progeekery, I think there's a market for good, real data out there since we've seen so many cases of it being done wrong.  Think about that.

– Steven Savage