Investment/Trends

Gold Scrap Supply to Drop Up to 25% as Lower Prices Deter Sales

"Recycling accounted for 37 percent of total supply last year, according to Barclays Plc, which forecasts recycled sales of the metal to fall by 174 tons this year. Gold is heading for the first annual drop in 13 years after some investors lost faith in the metal as a store of value, cutting bullion-backed fund holdings to the lowest since May 2010. Prices rebounded 13 percent from an almost three-year low last month as demand for jewelry and coins rose. Bullion dropped a record 23 percent in the second quarter as the Federal Reserve indicated it may slow its monthly debt buying if the economy improves." Continue reading →

Continue ReadingGold Scrap Supply to Drop Up to 25% as Lower Prices Deter Sales

Senate Democrats to Obama: ‘It Would Be Great To Have A Woman’ As Fed Chief

"In another boost for Ms. Yellen, House Democratic Leader Nancy Pelosi (D., Calif.) said in an interview with Bloomberg television, due to air this weekend, that while both Mr. Summers and Ms. Yellen were well qualified, 'it would be great to have a woman'' nominated to the post. If nominated and confirmed, Ms. Yellen would be the first female Fed chief. Republicans in the Senate have expressed increasing opposition to the Fed's $85 billion-a-month bond-buying program. Ms. Yellen has been instrumental in the continuation of the bond-buying program, and is known to be a strong proponent of the Fed's easy-money policies." Continue reading →

Continue ReadingSenate Democrats to Obama: ‘It Would Be Great To Have A Woman’ As Fed Chief

Jim Rogers: I’m Optimistic About the U.S. Dollar

"Rogers had a few tips for investors. 'I’m wildly optimistic about agriculture,' he explained. 'It’s going to be one of the most exciting economic sectors in the world in the next 20 or 30 years. Prices have been so low… the sugar price has been down 75% since 1974.' He noted the longtime lows signaled good long-term buying opportunities. Rogers has shifted his currency strategy, now believing that 'currency turmoil' around the world will lead investors to flee to the relative security of dollars. 'To my astonishment, I’m optimistic about the U.S. dollar, which I’ve been terribly pessimistic about for years.'" Continue reading →

Continue ReadingJim Rogers: I’m Optimistic About the U.S. Dollar

Jim Rogers: I’m Optimistic About the U.S. Dollar

"Rogers had a few tips for investors. 'I’m wildly optimistic about agriculture,' he explained. 'It’s going to be one of the most exciting economic sectors in the world in the next 20 or 30 years. Prices have been so low… the sugar price has been down 75% since 1974.' He noted the longtime lows signaled good long-term buying opportunities. Rogers has shifted his currency strategy, now believing that 'currency turmoil' around the world will lead investors to flee to the relative security of dollars. 'To my astonishment, I’m optimistic about the U.S. dollar, which I’ve been terribly pessimistic about for years.'" Continue reading →

Continue ReadingJim Rogers: I’m Optimistic About the U.S. Dollar

Bill Bonner: Where will China be in 6 months…or 6 years?

"Where will China be in 6 months...or 6 years? It is impossible to know. Goldman Sachs reduced its estimates of China's growth. But it has no better idea than Paul Krugman or anyone else. The Chinese could surprise us in either direction; the economy could be much worse than expected...or much better. But one thing does appear to be happening. After 20 years of spectacular growth, China is looking for a new way forward." Continue reading →

Continue ReadingBill Bonner: Where will China be in 6 months…or 6 years?

Bill Bonner: Where will China be in 6 months…or 6 years?

"Where will China be in 6 months...or 6 years? It is impossible to know. Goldman Sachs reduced its estimates of China's growth. But it has no better idea than Paul Krugman or anyone else. The Chinese could surprise us in either direction; the economy could be much worse than expected...or much better. But one thing does appear to be happening. After 20 years of spectacular growth, China is looking for a new way forward." Continue reading →

Continue ReadingBill Bonner: Where will China be in 6 months…or 6 years?

TARP Audit: Housing Recipients Re-Defaulting in Alarming Numbers

"Nearly one-third of the homeowners who got help through the government's main foreclosure prevention program are defaulting again on their mortgages, according to a government watchdog's report. The Home Affordable Modification Program (HAMP) has worked on 1.2 million mortgage modifications since it started four years ago. Of those, more than 306,000 borrowers have defaulted again on their loans, and another 88,000 are at risk as well. The Special Inspector for the Troubled Asset Relief Program (SIGTARP), which conducted the review, said homeowners are also more likely to default again on the modified loans the longer they stay in the program." Continue reading →

Continue ReadingTARP Audit: Housing Recipients Re-Defaulting in Alarming Numbers

TARP Audit: Housing Recipients Re-Defaulting in Alarming Numbers

"Nearly one-third of the homeowners who got help through the government's main foreclosure prevention program are defaulting again on their mortgages, according to a government watchdog's report. The Home Affordable Modification Program (HAMP) has worked on 1.2 million mortgage modifications since it started four years ago. Of those, more than 306,000 borrowers have defaulted again on their loans, and another 88,000 are at risk as well. The Special Inspector for the Troubled Asset Relief Program (SIGTARP), which conducted the review, said homeowners are also more likely to default again on the modified loans the longer they stay in the program." Continue reading →

Continue ReadingTARP Audit: Housing Recipients Re-Defaulting in Alarming Numbers

Americans Gambling on Rates With Most ARMs Since 2008

"In the second year of the U.S. housing recovery, the loans that helped trigger the housing bust are making a comeback. Applications in late June rose to the highest level since 2008 after the Federal Reserve sent fixed rates surging by signaling it may curtail bond buying credited with pushing borrowing costs to the cheapest on record. The average 30-year fixed-rate mortgage jumped 1.2 percentage points in mid-July from May to the highest level in two years, adding about $200 a month to payments on a $300,000 mortgage. ARMs, loans with interest rates that adjust after initial fixed periods, usually of five, seven or 10 years, contributed to soaring defaults in 2008." Continue reading →

Continue ReadingAmericans Gambling on Rates With Most ARMs Since 2008