Turmoil in the stock and housing markets caused the biggest drop in consumer confidence in almost two years in August, according to a closely watched survey released Tuesday.

Credit card defaults keep rising, report says
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.

Glut of homes hits 16-year high
Worsening problems in the mortgage market helped drive home sales lower in July, a real estate group said Monday - pushing the glut of homes on the market to the highest in about 16 years.

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Xbox 360 Premium Game Console with hard drive for $315
Target.com offers the Microsoft Xbox 360 Premium Game System for $349.99. Apply coupon code “TGTENTZY” to drop it to $314.99. With $2.98 for shipping, that’s the lowest total price we could find by $29. Sales tax is added where applicable. This “Premium” system includes an Xbox 360 with 20GB hard drive, headset, wireless controller, component AV and Ethernet cables, and a power adapter. Coupon expires August 31.

Best Buy printable coupon: 10% off one item, 12% for members
Best Buy retail stores take 10% off one item in select categories via this printable coupon. (Rewards members get 12% off.) A minimum purchase requirement exists for some products, like televisions ($399 or more), printers ($149 or more), scanners ($99 or more), and digital cameras ($279 or more). Many brands and categories are excluded, such as Blu-ray/HD-DVD, Bose, Apple, and more. Coupon ends September 5.

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Household incomes rise but …
Household income crept higher and the poverty rate edged lower last year, the government said Tuesday, while the number of Americans without health insurance rose by 2.2 million to 47 million people.

Fed: Don’t panic. We’re here
When the federal Reserve met on Aug. 7 and decided to leave a key interest rate alone, the central bank didn’t appear overly concerned that problems in the subprime mortgage market would have a major impact on the broader economy, according to minutes of the meeting released Tuesday.

This entry was posted on Wednesday, August 29th, 2007 at 8:16 pm and is filed under Freedom News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.