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U.S. Global Superpower or Destined Pipsqueek?
There is an old Wall Street adage that no one rings a bell at major market tops or market bottoms. That may be true in normal times, but as many have noticed, we are now completely through the looking glass.
In this parallel reality, U.S. Federal Reserve Chairman Ben S. Bernanke has just rung the loudest bell ever heard in the foreign-exchange and government-debt markets. Investors who ignore the clanging do so at their own peril. The bell’s reverberations will be felt by everyday Americans, whose lives are about to change in ways few can imagine.
While nearly every facet of America’s…
26Mar2009 | Money Morning | 0 comments | ContinuedNew Reports Show U.S. Housing Market Rebounding
The government’s efforts to put a floor under the U.S. housing market and halt a withering onslaught of foreclosures appeared to bear fruit yesterday (Wednesday), as a bevy of news indicated the housing sector might be stabilizing.
Leading the way was a report from the Mortgage Bankers Association that U.S. mortgage applications soared 32% last week, as record low interest rates spurred a surge in demand for home refinancing loans. Refinancing accounted for 78.5% of all applications.
“The housing market is coming back, but not roaring back,” Leif Thomsen, chief executive of Mortgage Master in Walpole, Massachusetts told Reuters. He said his company is doing…
26Mar2009 | Money Morning | 0 comments | ContinuedGlobal Investing News
Geithner Calls For Regulatory Reform; Fed President Sees 2009 Rebound; Bank of China Posts 59% 4Q Profit Drop; Goldman Plans to Repay TARP money quickly; U.K. Inflation up 3.2% in February; Major Exchanges Want New Curbs on Short-Selling; Lloyd’s Says Insurance Rates to Rise; Copper Prices Take Breather After Rising 30% on China Demand; Mexico’s Inflation Holds Up Rate Cut
- Treasury Secretary Timothy Geithner said the U.S. regulatory system must impose constraints on companies using risky strategies that could cause them to collapse, posing danger to the financial system. In prepared testimony for the House Financial Services Committee, Geithner said rules must be in…
Government Debt Bubble Will Burst
We believe that the objective of the Fed was two-fold; firstly, to put downward pressure on the long-term interest rates and stimulate the economy by squashing their recent gains, and secondly, to fill in the gap between a very sizeable increase in government spending and the demand for Treasuries at a time when traditional foreign investors are reducing their exposure to the dollar. They no longer have the same export surpluses they need to invest domestically and support their own economies, and are truly starting to question whether the U.S. government will ever be able to pay them back without…
24Mar2009 | The Real Deal | 0 comments | Continued
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