Network Archives

America’s Housing “Recovery”: Wall St. Buying Homes to Rent Back to Their Former Owners

"The Blackstone group, the biggest player in the new REO to rental market, has spent $2.5 billion in the last year purchasing 16,000 homes, a number that amounts to over $100 million per week. Property records show that many of the homes Blackstone has acquired in Fulton County over the last few months were purchased on the courthouse steps at the monthly foreclosure auction, or through short sales—when a lender agrees to accept less than the amount owed on a loan. The vast majority of these homes are not empty, but occupied by homeowners who fell behind during the great recession." Continue reading →

Continue ReadingAmerica’s Housing “Recovery”: Wall St. Buying Homes to Rent Back to Their Former Owners

Renters to thank for healthier housing market

"Shares of the biggest U.S. builders including Lennar Homes (LEN) and Toll Brothers (TOL) have soared during the past year, but investors appear more excited about renters than a return of homeowners. To date, construction of multi-family units destined for the rental market rose by 150% over the two years ending in the third quarter of 2012. That's by far higher than the 50% rise of newly constructed multi-family homes for sale, and a 30% increase of single-family starts also for sale, according to Capital Economics." Continue reading →

Continue ReadingRenters to thank for healthier housing market

Japan’s economic minister wants Nikkei to surge 17% to 13,000 by March

"Economic and fiscal policy minister Akira Amari said Saturday the government will step up economic recovery efforts so that the benchmark Nikkei index jumps an additional 17 percent to 13,000 points by the end of March. 'We want to continue taking (new) steps to help stock prices rise' further, Amari stressed, referring to the core policies of the Liberal Democratic Party administration — the promotion of bold monetary easing, fiscal spending and greater private sector investment." Continue reading →

Continue ReadingJapan’s economic minister wants Nikkei to surge 17% to 13,000 by March

Doug Casey: Why America Should Default and You Should Live Abroad

"Reason TV's Nick Gillespie sat down with Casey to discuss why America should default on its debt, why he spends most of his time in Argentina these days, and the importance of self-reliance and free-market principles. His new book, Totally Incorrect, is a collection of conversations with Louis James that explore the ways in which government policy and centralized power threaten cultural and economic progress. In a series of engaging and wide-ranging dialogues, Casey and James talk about everything from the Great Depression to drug use to the Roman Empire." Continue reading →

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Dr. Benjamin Carson — Speaking Truth to Power

The phrase “speaking truth to power” is actually of Quaker origin from the fairly recent past — 1955 to be exact.  It was the title of a pamphlet published by the Society of Friends that suggested to the two major superpowers nonviolent means of resolving the Cold War.  If it appears cliché to the reader,… more

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Obama rebukes North Korea over nuke test and calls for ‘swift’ and ‘credible’ action

"US President Barack Obama said Tuesday that North Korea’s 'provocative' nuclear test did not make it more secure and called for 'swift' and 'credible' international action in response. Obama also vowed in a written statement that Washington would remain vigilant in the face of the underground detonation by the Stalinist state and steadfast in its defense commitments to its allies in Asia. 'The danger posed by North Korea’s threatening activities warrants further swift and credible action by the international community,' Obama said, ahead of an emergency meeting of the UN Security Council called for later on Tuesday." Continue reading →

Continue ReadingObama rebukes North Korea over nuke test and calls for ‘swift’ and ‘credible’ action

U.S. ‘very disappointed’ by Russian ban on U.S. meat

"Washington sharply criticized Moscow Monday for banning imports of US meat, saying the Russians had ignored scientific proof that an additive in US animal feed is safe. Top US officials said that global food-safety experts had cleared the additive, ractopamine, as safe at levels used in the United States. But Russia, enforcing its own rules against any presence of ractopamine, on Monday banned all imports of beef, turkey, chicken, pork and other animals." Continue reading →

Continue ReadingU.S. ‘very disappointed’ by Russian ban on U.S. meat

U.S. gold bars and coins find new home overseas on Asian demand

"Booming demand for gold as a store of wealth among Asian investors is driving physical gold bars and coins out of the United States and into Asia. A growing number of gold vaults for affluent Asians and new precious metals investment products, particularly exchange-traded funds, have led to an exodus of gold owned privately from the United States into emerging economic powers such as China. On Friday, Commerce Department data showed U.S. exports of nonmonetary gold, which excludes central bank transactions, soared by 43 percent to $4 billion in December from the previous month." Continue reading →

Continue ReadingU.S. gold bars and coins find new home overseas on Asian demand