Originally published on Fri June 22, 2012 10:23 am
Five years ago, a subprime mortgage firestorm was melting down the U.S. economy, but most analysts didn't see it happening.
Federal Reserve Chairman Ben Bernanke, testifying before Congress in February 2007, said the housing sector "is a concern, but at this point we don't see it as being a broad financial concern or a major factor in assessing the course of the economy."
If he and the vast majority of economists were blind to the economic and financial calamity taking shape then, could they also be missing the start of a huge economic boom now?
Industry Analyst Gregg Laskoski of GasBuddy.com says there are many uncertainties in the market place this year, but he believes median gasoline prices could reach or exceed four dollars per gallon by Memorial Day in many parts of the country. A new report released by GasBuddy.com warns that the retail price of gasoline at the start of 2012 was signicantly higher than just two years ago. Laskoski calls that an "ominous sign" for the rest of 2012. He spoke with Dan Modlin...........
Bowling Green, KY – A public meeting will be held in Mayfield to get public input on a new study regarding a proposed Western Kentucky corridor for Interstate 69. Officials in Kentucky are hoping that portions of existing roadways can be included in the corridor, to help manage costs. Public Information Officer Keith Todd of the Kentucky Transportation Cabinet says public comments will be accepted on the proposal until the end of November. Dan Modlin spoke with Todd.
Bowling Green – The down economy has more Americans tapping their retirement savings. One business group says nearly half of those changing or losing jobs last year took cash out of their 401k accounts. In this report, Lisa Autry speaks with Bowling Green financial adviser Tony Walker who says it can be risky and expensive to tap retirement funds early.