``America saves scarcely 20% as much as it issues in new credit. The other 80% is "funny money" -- credit created out of nowhere by the Fed, by banks and by foreign central banks (mostly recycling trade surpluses)... The Fed will put...Show More Summary
``Unprecedented fighting talk from Merkel as she says last few days have showed her that Europe cannot rely on US anymore. Wow.''
`` labor shortages are weighing on overall economic growth, slowing the pace of expansion in northern Utah and other fast-growing regions even as unemployment remains stubbornly high in Rust Belt cities like Cleveland and in regionsShow More Summary
``American new home builders aren't seeing such steep climbs in sale prices. Actually, they aren't seeing climbs at all. The average price of a new home in the US was CA$495,271 (US$368,300). This represents a 3% decline from the same time last year, when measured in US dollars. Show More Summary
``Of all the dangers in the world of finance, the enduring low level of market volatility is the most significant. How quiet is quiet? Recently, the six-month realized volatility for the S&P 500 dipped to 6.7 percent, lower than even the period leading up to the financial crisis of 2008-09. Show More Summary
``... turns out that politicians creating massive ponzi schemes to promise citizens that their government would take care of their financial needs in perpetuity, while never really bothering to explain the true costs of such programs, was probably a bad idea.''
The UK has been told to prepare for a workforce of 80-year-olds as the world's leading economies struggle to deal with a £54 trillion pensions time bomb. The amount could balloon to an astonishing £334 trillion by 2050 unless policymakers...Show More Summary
New data from Apartment List shows that, although 80 percent of millennials would like to purchase real estate, very few are in a good position to buy, largely because they have nothing saved. According to the report, "68 percent of millennials said they have saved less than $1,000 for a down payment. Show More Summary
Freddie Mac just released their weekly survey of mortgage rates showing that rates have hit the lowest point so far this year with the 30 year fixed averging 3.95% with 0.5 points. So if you’ve been waiting to refinance, my suggestion is to jump on it as rates can change quickly. If your home is […]
``Trump railed against [the NATO members' defense spending] shortfall Thursday, telling the audience in Brussels that it was "not fair to the people and taxpayers of the United States." His words echoed those of President Barack Obama, who just last year accused NATO members of being "complacent" and told them to dig deeper into their wallets. Show More Summary
``To cut to the chase, it is becoming increasingly clear that Americans should be taking reasonable steps to diversify their investments outside the U.S., including holding assets in currencies other than dollars, and where possible to acquire a second passport... Show More Summary
Japanese and South Korean buying helped drive the price of bitcoin to an all-time high this week, with the digital currency more than doubling its value since the start of the year, analysts and market practitioners said on Friday....In...Show More Summary
``Of particular concern for the Fed are recent undershoots on key gauges of inflation that have been lagging the central bank's stated target of 2 percent annualized consumer price growth... With doubts rising over U.S. President Donald...Show More Summary
You know you want to buy a house, but how much can you afford? How much money will a bank give you? Before you get too excited, understand that banks may qualify you for more than you want to spend. What you qualify for and what you need are two different things. Once you know […] The post How Much Mortgage do you Qualify for? appeared first on Blown Mortgage.
Romer pioneered research into "endogenous growth," examining how the diffusion of knowledge boosts output. His name often comes up in short lists for the Nobel Prize in economics.... But in recent years, his attacks on the credibility of macroeconomic models irritated many of his peers. Show More Summary
``The European Union will next month demand Britain agree to pay a fixed percentage of the EU's outstanding obligations on the day it leaves the bloc, in defiance of a British rejection of that logic as "preposterous... But the list of what it must pay, and go paying for some years after Brexit, is much longer. Show More Summary
The REBNY Spring 2017 Manhattan Retail Report lists retail rental rates in 14 of Manhattan's 17 high profile shopping corridors have declined. The poshest parts of Bleecker Street between Seventh Avenue and Hudson Street have fared the worst of all the Manhattan markets. Show More Summary
``In addition to possible coordination between the Kremlin and the Trump campaign to influence the 2016 presidential election, investigators are also looking broadly into possible financial crimes [of Jared Kushner] -- but the people familiar with the matter, who were not authorized to speak publicly, did not specify who or what was being examined. ''
The Trump administration has until now said its planned tax cuts would pay for themselves by pushing economic growth to 3 percent a year -- a claim already seen as outlandish by every serious analyst, liberal and conservative alike.Show More Summary
Until recently, Manafort had receded into the background as the uproar over Trump's firing of his national security adviser, Michael Flynn, and then the FBI director, James Comey, began to shake the White House. But the Manafort story--a tale of pro-Russia players, political tradecraft and cunning financial maneuvers--has never gone away. Show More Summary