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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 →
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 →
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 →
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 →
Doug Casey: U.S. of Totalitarianism
"Doug Casey talks to Lew Rockwell about what’s happening in America and elsewhere and how fast." Continue reading →
Doug Casey: U.S. of Totalitarianism
"Doug Casey talks to Lew Rockwell about what’s happening in America and elsewhere and how fast." Continue reading →
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
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 →
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 →