Hard hitting global and local news
Greece Will Default in May Without Another Bailout or Change in Terms Cash flow analysis shows Greece is in serious trouble again in spite of having a current account surplus. Specifically, Greece needs a change in payback terms or another bailout or it will default in August, if not May. I use the words "will default" imprecisely.
See the original post: Pettis on Debt, Malinvestments, Hidden Losses, and China’s GDP
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Original post: Government About to Destroy American Mortgages Permanently Warns Dick Bove; Mish Says Nonsense
Pettis: "Abenomics Likely to Fail in Medium Term, Debt Matters" Michael Pettis, at China Financial Markets , discusses Abenomics, Japan’s shrinking (for now) current account surplus, debt, and interest rates in an interesting email. From Pettis … Abenomics in Japan is likely to put upward pressure on the national savings rate in Japan (but not necessarily on the household savings rate).
Continued here: New Tools! More Pure Bank Profit!
MarketWatch reports House flipping makes a comeback For the market as a whole, flips of single family homes fell 13% in the third quarter, according to new research from RealtyTrac, with investors earning a gross profit of nearly $55,000 on each property. But at the higher end of the market, homes seem to flip as quickly as a griddle full of hamburgers
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Originally posted here: M1 Money Supply vs. Real GDP
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