What Bernanke Didn’t Say About Housing (And Everything Else); Bernanke’s Ploy
February 28, 2013 0

What Bernanke Didn’t Say About Housing (And Everything Else); Bernanke’s Ploy

By News Desk

What Bernanke Didn’t Say About Housing (And Everything Else); Bernanke’s Ploy Caroline Baum had some interesting comments about Bernanke’s testimony before Congress in her writeup What Bernanke Didn’t Say About Housing . One of the more interesting exchanges at Ben Bernanke’s testimony to the Financial Services Committee today was the one between the Federal Reserve chairman and Representative Scott Garrett, a Republican from New Jersey.     Citing Bernanke’s assertion that one of the benefits of QE had been the rise in home prices, Garrett said the following: "Previously you have said that the Fed’s monetary policy actions earlier this decade, 2003 to 2005, did not contribute to the housing bubble in the U.S. So which is it?

France Unemployment Highest Since 1997
February 27, 2013 0

France Unemployment Highest Since 1997

By News Desk

France Unemployment Highest Since 1997 In the easy to see coming category (thanks to the socialist policies of French president Francois Hollande) French unemployment level hits 15-year high . Unemployment numbers in France rose by 43,000 in January to 3.16 million, an increase of 10.7 percent from last year, the labour ministry revealed on Tuesday. The figure is at its highest since January 1997, when it reached 3.19 million.   Rising unemployment is a setback for Socialist President Francois Hollande, who has pledged to curb the unemployment rate from the current level of more than 10 percent to a single-digit figure by December.

Less Than Useless: Goldman Sachs Lowers Gold Forecast Following Plunge (Purposely Late?); Downside Risks
February 26, 2013 0

Less Than Useless: Goldman Sachs Lowers Gold Forecast Following Plunge (Purposely Late?); Downside Risks

By News Desk

Less Than Useless: Goldman Sachs Lowers Gold Forecast Following Plunge (Purposely Late?); Downside Risks In the less than useless category, Goldman Sachs lowered its gold price targets by over $200 an ounce following the recent plunge. Goldman now says Gold’s Cycle Seen Turned . The cycle for gold prices, which climbed for 12 straight years, has probably turned as the recovery in the U.S

Youth Vote Propels Five Star Movement Into First Place as Largest Political Party in Italy
February 26, 2013 0

Youth Vote Propels Five Star Movement Into First Place as Largest Political Party in Italy

By News Desk

PIER LUIGI BERSANI – PARTITO DEMOCRATICO – 8,399,991 Votes – 27.43% GIUSEPPE PIERO GRILLO – MOVIMENTO 5 STELLE – 7,285,648 – 23.79% SILVIO BERLUSCONI – IL POPOLO DELLA LIBERTA’ – 6,829,135 Votes – 22.30% MARIO MONTI – SCELTA CIVICA CON MONTI PER L’ITALIA – 2,797,451 Votes – 9.13% The center-left received a higher percentage of votes than the center-right by a 31.63% to 30.72% margin. However, Senate seats are assigned based on regional totals and the result will be something like a 119 to 117 spit with the Five Star Movement picking up 54 Seats. A majority takes 158 so no coalition is likely