By: Roshawn Watson
I hoped you had a wonderful Christmas holiday and are preparing for a productive and prosperous new year. Since 2008 is coming to a close this week, it is a wonderful time to review some of the most compelling stories from Uncommon Money News this year. From a financial standpoint, it has been a very turbulent year for many, but fortunately people are becoming more diligent to the financial management of their households (for example, our saving rates are finally going up).
I can not thank you enough for reading, subscribing and supporting the site all year long. We have learned so much throughout the year, and I appreciate you for sharing the journey. Best Wishes For 2009.
Happy New Year
Economy
US homes lose of $2 trillion dollars in value in 2008
“Home prices have been hit hard, yet there is still no end in sight to the foreclosure crisis”
Auto bailout approved: Automakers to get $17.4 billion
Guess how bad 2008 S&P; has been If seeing is believing, this pic will do the conversion.
This Year 1.9 Million Job Shed
Dow drops 700 points and S and P loses nearly 9% as recession is finally officially declared
President-Elect Obama plans to generate 2.5 Million Jobs in 2 -years
Illustrative Guide To the Financial Crisis
US May Lose It’s AAA Credit Rating
NY Times Says Jobless Rate at 19 year high (also see US layoffs Reach 5-year High)
Dow Jumps 936 points in the Biggest Points Gain Ever
Dow Drops 733 points second Biggest Point Loss Ever
Wall Street Collapse in Pictures(check out these pics)
Bailout Plan Is Hard Sell on Capital Hill (Lawmakers say it about fat cat whereas Paulson Says it about the Tax payers)
George Soros said it here, and others are following and proclaiming an oil bubble!
$4 billion sent out in economic stimulus checks
An Illustrated Guide to Economic Stimulus Rebates (Absolute Must See!!!)
Warren Buffet sees the US in Recession Already! Do You Agree ??? (March 2008)
Entertainment Money News
Twilight takes $70.6 million bite out of box office (Largest debut for female director)
Stand Up To Cancer Telethon To Raise More than $100 million
Primetime TV Female Cash Queens
Diddy Say High Gas Prices Have Grounded His Private Jet
Jerry Lewis Telethon Raises a Record $65 million
Dark Knight Swings Past $500 Million Mark
Donald Trump May Buy Ed McMahon’s Home to Prevent Its Foreclosure
Matthew Fox Negotiates a Hefty Raise From Lost to $225,000 per episode
Phil Collins New Divorce Settlement Most Costliest Celeb Payout in British History
Victoria Olsteen, Wife of Mega-Preacher Joel Olsteen, is being sued by flight attendant for 10% of her net worth
Russel Simmons is Paying a Whopping $500,000 per year in Child Support
The Economy of Britney Spears! At a reported net worth of over $100 million, she is not only person profiting off of her fame
Business
Jaguar Land Rover asks for bailout (pure silliness)
B Of A CEO sees record credit card losses for industry
3 CEOs Flew Private Jets To Plead for Public Funds
New York Times Interactive Graph Explaining The Massive Failures of Financial Institutions Over The Last 11 Months (This is well done and worth checking out)
Lehman Suffers a $4 billion dollar loss
25 Visionaries Who Created Empires From Virtually Nothing
Average CEO pay 700x that of average employee (Does this illustration tell the whole story? I wrote about it here)
The 20 most profitable companies
Offbeat Money News
Man Jailed After Refusing To Pay for $7 Dollar Buffet
New Study Shows: Rich Cheat More On Taxes
Man Sues Doctors After Penis Amputated
What Are the Best Cities To Earn A Living? (The Answer May Surprise You; also available in pictures
Great Illustration of Investing Habits: the real reason for subpar returns (must see!)
Jilted bride receives $150,000 after being left at the alter
Meet the really wealthy (Video)
An audioclip discussing “What is the middle class?“
This was a pretty interesting slide show about the world’s richest college drop outs.
This article is sad. It highlights how free drug samples go to wealthy and insured but not to the poorest individuals that need the drugs.
Humorous Money News
In The Know: Should the Government Stop Dumping Money Into a Giant Hole? (video)
Why I Don’t Worry About The Economy (Great Pic!!!)
What Duck Tales could teach you about inflation? (nice video)
How Business Really Works (check this pic out!)
Why The US Has Billions For Bail Out But Not For Health Care (another humorous pic)
How we REALLY got into this Subprime Mess
Commentary
Scathing NY times article on Wall Street excess: On Wall Street, the bonuses, not profits are real
Wall Street Journal Columnist Argues that College is a Waste of Time for Most People
Once again, the prosperity doctrine and the and preachers come under fire in the gospel of money.
Whoopi Goldberg, recently of Wake Up with Whoopi (radio) and The View fame, says down with the death tax
Real Estate Money News
Woman Buys Foreclosed Property and Then Returns It To Previous Owner
California Foreclosure Spike 228%
Illinois Sheriff Suspends Foreclosure Evictions of ‘Innocent’ Renters
One Third of Homeowners Upside Down (Owe More Than Homes are Worth)
Woman Purchased Home for $1.75
Millions Spend Half Income On Housing
Homebuyers Squeeze Desperate Sellers
What the housing bill means for you
U.S. House Approves Fannie-Freddie Bill by 272-152
Woman kills self prior to foreclosed home being auctioned
Check out this Remarkable Illustration of the Housing Market over the Past Year (very cool pic)
Need a mortgage now?
CNN says “Bring lots of cash”
Bloomberg says “cough up 20% downpayment”
House Prices Falling Faster than Great Depression (I also wrote a commentary about this article over here)
Zillow banned in Arizona (Zillow is a website that allows you to look up the values, “zestimates,” of homes, among other things). Is
Whose next? The wealthy may be next in line in U.S. home crisis. Remember, it is hard to “out earn” poor financial decisions.
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