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China Unveils Plan to Bolster Real Estate, Ensure Growth
In its latest effort to maintain an annual economic growth rate of 8%, China announced new plans to stimulate the country’s ailing real estate sector.
Beijing said the new stimulus package will benefit 7.5 million low-income urban families and 2.4 million households located in the more remote countryside.
China pumped $387.5 billion into real estate development over the first 11 months of the year, up 22.7% from the same period in 2007. However, residential sales fell 18.8% year-over-year, despite the investment.
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Commodity Stocks May Have Been Severely Oversold, Buy at, or Near the Bottom
The market has moved beyond logic to serious panic as evidenced by not only the enormous declines in commodity stocks, but in stocks in general. Blue chips have fallen alongside those with less illustrious antecedents. Only gold seems to be bucking this trend and here price movements have been volatile – up $50 one moment, down $50 the next.
This is symptomatic of uncontrolled selling off of virtually any assets to meet liquidity needs, aided and abetted by computerised stop loss selling which in turn leads to a lowering of prices triggering further sales. Sometimes it seems world markets are descending…
14Oct2008 | The Gold Report | Comments Off | ContinuedWhy China is Still the World’s Best Long-Term Profit Play
While a recent crop of economic data suggests that China is not fully insulated from the economic turmoil that has overtaken the United States and Europe, some of that data is suspect. The upshot: The world’s fastest-growing economy is still much better off than its Western counterparts and probably remains the best long-term option for globetrotting investors.
China’s benchmark Shanghai Composite Index has plummeted nearly 70% in the past year. A big reason for the decline was concern among investors that economic chaos in the United States and Europe would deplete China’s breadwinning export market. But, so far, those fears have…
24Sep2008 | Money Morning | Comments Off | ContinuedResources Hit the Dog Days
Oil is selling in the range of $113 per barrel, down from its recent high of $146. Gold is selling below $800 per ounce, down significantly from its springtime high of over $1,000. With a drop in excess of 20 percent for each item, it’s fair to say that we are in a bear market for both oil and gold.
Prices for other items, like natural gas, coal, silver, platinum, copper, zinc — and even a ubiquitous food commodity like corn — are all down sharply from much higher levels in recent months. So what’s going on with the pricing for…
27Aug2008 | Whiskey and Gunpowder | Comments Off | Continued
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