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bubble
Downside risks to gold, writes Nouriel Roubini at The Globe and Mail:
“But, since gold has no intrinsic value, there are significant risks of a downward correction. Eventually, central banks will need to exit quantitative easing and zero-interest rates, putting downward pressure on risky assets, including commodities. Or the global recovery may turn [...]
China Daily:
“In spite of all the government’s tough talk against excessive home price hikes, the record land price for residential housing in Beijing was broken twice on Monday thanks to aggressive bids by State-owned enterprises.
The weeklong postponement of the land auction seemingly served to save policymakers, who were explaining to the National People’s Congress how [...]
Steve Forbes points out that government subsidies in the housing market weren’t needed for Canadians to become home owners:
“The Bush Administration botched an opportunity in 2008 to put these entities in receivership, with the idea of either liquidating or privatizing them. A winding down of Fannie and Freddie would have led to a birth of [...]
Via Economic Policy Journal: “The exchange-traded fund, SPDR Gold Shares, that holds gold bullion was down 5% Friday afternoon on record trading volume as the gold price fell. More than 70 million shares have traded hands with an hour of trading to go. It’s the highest volume in its history. The gold ETF was launched in [...]
Dominique Strauss-Kahn, the IMF’s Managing Director ended a 6-day trip in Asia by telling Chinese authorities to continue with their stimulus program. “The main goal is to help with public demand, weak private demand. And the reason why we have to continue with stimulus is because a self-sustaining private demand is not yet visible,” he said.” He [...]
A gloomy forecast of where the US housing market is going at US News & World Report — Nowhere. “Economist Celia Chen of Moody’s Economy.com has published a forecast suggesting that residential real estate could take 10 years to recover in most states-and 20 years in Florida and California. Chen predicts that house prices will stop [...]