investment

At Bank of England, Carney to put growth at top of list

"The new Governor of the Bank of England has signalled that he will put growth at the heart of his approach to the job and is willing to see higher inflation for longer in order to support the economy. Using the US as an example, Mr Carney said economies needed to be allowed to reach an 'escape velocity' in which they were out of danger of slipping back into recession. That would suggest keeping interest rates lower for longer while considering further quantitative easing, indirect provision of monetary stimulus via the financial system." Continue reading →

Continue ReadingAt Bank of England, Carney to put growth at top of list

Mark Carney Leaves Canada With ‘Stealth QE’ Rising At Fastest Pace Since 2009

"As Mark Carney steps aside from his role at the Bank of Canada to undertake all manner of easy money in the UK, we thought a reflection on the 'stealth' QE that he has been engaged with, very much under the radar, in the US' neighbor-to-the-north was worthwhile. It seems quietly and with little aplomb, Carney's BoC has grown its balance sheet by over 21% YoY - the most since 2009. If that was not enough to make someone nervous, the quantity of Canadian government bonds on the BoC's balance sheet has grown at a remarkable 46% YoY! With Canada's CAD267bn debt due in 2013, we suspect this 'stealth' QE will continue to rise." Continue reading →

Continue ReadingMark Carney Leaves Canada With ‘Stealth QE’ Rising At Fastest Pace Since 2009

Why Your Town Is Going Broke

"Cook County’s Treasurer has created a website where citizens can find out how far in the hole their governments are. They are all so far in debt that future taxpayers will lose their homes, she says: 'In May, 2012, the collective debt reported by the local primary taxing agencies in Cook County was more than $140 billion! To put that in context, the total debt-per-household in the City of Chicago was $87,720, and $35,774 in the suburbs. Homeowners might be able to give their homes to their children, but that future generation won’t be able to afford to keep them because of the property taxes, which have doubled over a 10-year period.'" Continue reading →

Continue ReadingWhy Your Town Is Going Broke

EU Financial Tax Portends Loss of Market Leadership

"Although limited presently in scope and at an apparently low rate, the tax will nevertheless provide an extra layer of financial bureaucracy that will dissuade some market participants from transacting in the Eurozone. More importantly, the measure is a 'supra national' tax that helps to pave the way towards a global taxation system. Not only will such a system be economically damaging, but it will be devoid largely of effective democratic accountability. At a time when governments should be encouraging the free flow of capital, this measure moves us exactly in the wrong direction." Continue reading →

Continue ReadingEU Financial Tax Portends Loss of Market Leadership

Silicon Valley House Sells for $117.5 Million

"An estate has sold in the wealthy northern California community of Woodside for $117.5 million, making it one of the highest-priced residential sales ever in the U.S. Public records show the house is 8,930 square feet and is located at 360 Mountain Road, Woodside CA, next door to the Steve Jobs house at 370 Mountain Road. Bottom line: Bernanke money is flooding Silicon Valley. The sale comes as Silicon Valley luxury home sales surged 54 percent in December, according to residential brokerage Coldwell Banker Wendy McPherson, quoted by the San Jose Mercury News." Continue reading →

Continue ReadingSilicon Valley House Sells for $117.5 Million

Home Prices Continue to Soar; Best Gains Since 2006

"Data through November 2012, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices showed home prices rose 4.5% for the 10-City Composite and 5.5% for the 20-City Composite in the 12 months ending in November 2012. It was the strongest year-over-year price increase since August 2006. The Southwest – Las Vegas and Phoenix – are staging a strong comeback with the Southeast -- Miami and Tampa close behind. The sunbelt, which bore the brunt of the housing collapse, is back in a leadership position. California is also doing well while the northeast and industrial Midwest is lagging somewhat." Continue reading →

Continue ReadingHome Prices Continue to Soar; Best Gains Since 2006

Peter Schiff on Politics, Precious Metals and President Obama’s Second Term

"Daily Bell: Talk about your father, who is now in jail as a tax protestor. How is he doing? Peter Schiff: He's hanging in there. He's 84. He turns 85 next month. I think he's a political prisoner. He's in jail not because he really violated the law but because he represented a threat to the government's illegal collection of income taxes. So I think it's very unfortunate that my father is in jail and I think it says a lot about the character of our country when we can have a political prisoner." Continue reading →

Continue ReadingPeter Schiff on Politics, Precious Metals and President Obama’s Second Term

Fed Balance Sheet Hits Record $3 Trillion

"The size of the U.S. Federal Reserve's balance sheet reached a record, Fed data released on Thursday showed, due to the central bank's purchases of Treasurys and mortgage-backed securities that are part of its unconventional policy aimed at supporting economic growth. The Fed's ownership of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Government National Mortgage Association (Ginnie Mae) totaled $983.2 billion, up from $947.61 billion the previous week. The Fed's holdings of Treasurys totaled $1.697 trillion as of Wednesday, higher than $1.689 trillion the previous week." Continue reading →

Continue ReadingFed Balance Sheet Hits Record $3 Trillion