Hard hitting global and local news
Taken from: $22 Billion in California Homes Sold to Chinese All-Cash Buyers; "Beginning of Tidal Wave" says NAR Chief Economist
Error Over Quota This application is temporarily over its serving quota.
See more here: No Money Down Mortgages Another Sign of Gigantic Credit Bubble in China
Follow this link: ECB Pulls Out Pea Shooter, Fires, Misses Target
Former Bundesbank Vice-President Recommends Gold, Says Current Economic System is "Pure Fiction" Anyone who is thinking clearly knows the economic system fostered by central banks is totally and completely out of control. Repetitive rounds of QE, competitive currency debasement, interest rates at zero, and sponsorship of the internet bubble followed by the housing bubble, followed by the current stock market bubble is proof enough. So, what I am about to report is really nothing but common sense, except for the fact that it comes from an unusual place, where one does not normally hear such discussions
View original post here: Existing Home Sales "Rebound": Headline Hype vs. Reality
Read More: Did Birth/Death Revisions Distort Friday’s +288,000 Jobs Number? Reflections on BLS Competence
Error Over Quota This application is temporarily over its serving quota.
Error Over Quota This application is temporarily over its serving quota. Please try again later
China Accelerates Bad Debt Writeoffs; Reflections on "Policies to Counter Economic Volatility" Financial stress related to Ponzi financing and other bad debts in China is readily visible in numerous places. One result is China’s Big Banks Double Bad-Loan Write-Offs . China’s biggest banks more than doubled the level of bad loans they wrote off last year, in a sign that financial strains are mounting as growth in the world’s second-largest economy slows.