Finance Matters

Just tweeted out by The Atlantic’s Derek Thompson…

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U.S. home prices posted their fifth-consecutive month-over-month decline, CoreLogic reported today.

The group’s home price index declined 1.4 percent in December as short sales and foreclosure deals continued to bog down prices.

“Until distressed sales in the market recede, we will see continued downward pressure on prices,” said Mark Fleming, chief economist for CoreLogic.

Including distressed sales, December prices declined 4.7 percent from December 2010.

Montana, Vermont, South Dakota, Nebraska and New York saw the greatest price gains.

Illinois, Nevada, Georgia, Ohio and Minnesota experienced the heaviest declines.

SEE ALSO: Michelle Meyer’s Housing Outlook For 2012 >

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Paul Krugman is giving a talk in Paris, and he’s put up several charts that he says are key to understanding the Eurozone crisis.

This one may be the best, as it debunks the idea that the PIIGS — called the GIPSIs in this chart — were running up debt like crazy.

They weren’t. They had declining ratios, which only exploded once the financial crisis hit.

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There’s an election coming up in France, and given President Sarkozy’s leading role in helping save the Eurozone, it matters to the entire world.

The opposition candidate François Hollande is leading in the polls, and apparently even Angela Merkel is being brought in to save Sarkozy. Really, she’s going to campaign with him on the trail during the election.

But it’s probably too late.

This chart from BNP Paribas looking at household confience vs. elections says it all. When household confidence is low, the party in power switches. When it’s up near the 0-line the party in power holds.

At the current level of household confidence, an incumbent really has no chance.

As for the timing of the election, you should find this calendar handy.

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