ECONOMICS
Get flash to fully experience Pearltrees
WASHINGTON (AP) -- The American dream of homeownership has felt its biggest drop since the Great Depression, according to new 2010 census figures released Thursday. The analysis by the Census Bureau found the homeownership rate fell to 65.1 percent last year. While that level remains the second highest decennial rate, analysts say the U.S. may never return to its mid-decade housing boom peak in which nearly 70 percent of occupied households were owned by their residents. "The changes now taking place are mind-boggling: the housing market has completely crashed and attitudes toward housing are shifting from owning to renting," said Patrick Newport, economist with IHS Global Insight. "While 10 years ago owning a home was the American Dream, I'm not sure a lot of people still think that way."
Census: Housing bust worst since Great Depression
US protesters rally to occupy Wall Street | The Stream - Al Jazeera English
Protesters gather in New York's financial hub for demonstration against what organisers call corporate dominance. Building on the momentum of the Arab Spring movements, protesters in the US are gathering in New York City's financial district in a bid to show mass resistance against the dominance of the country's financial system. What started as an online campaign has translated into action on the ground, with protest organisers calling for thousands of people to "occupy Wall Street" on Saturday. "On the 17th of September, we want to see 20,000 people flood into lower Manhattan, set up beds, kitchens, peaceful barricades and occupy Wall Street for a few months," organisers wrote on the www.occupywallst.org website. "Like our brothers and sisters in Egypt, Greece, Spain, and Iceland, we plan to use the revolutionary Arab Spring tactic of mass occupation to restore democracy in America. We also encourage the use of nonviolence to achieve our ends and maximize the safety of all participants."Sep 21, 2011, 6:24 GMT Tokyo - Japanese stocks edged up Wednesday, lifted by gains on some Asian markets, but many investors took to the sidelines ahead of an expected monetary policy decision by the US central bank. The benchmark Nikkei 225 Stock Average gained 19.92 points, or 0.23 per cent, to 8741.16 while the broader-based Topix index was up 2.09 points, or 0.28 per cent, at 757.13.
Japan markets cautious ahead of US central bank decision - Monsters and Critics
EUROZONE PREPARES FOR MASSIVE JOLT: INSOLVENT BANKS SET TO TUMBLE « Case About Bird Flu
Janet Daley writing in the Telegraph expresses well the sense of apocalypse currently gripping the eurozone as insolvent banks and insolvent states come tumbling down. http://www.telegraph.co.uk/comment/columnists/janetdaley/8770696/The-European-dream-lies-in-ruins.html The stark figures of the bank balance sheets show why a bank crash is now inevitable and underline the urgent need to set up a new financial system by the end of the year or the beginning of next year at the latest. If nothing is done to reset Europe’s financial button, the result could be an economic depression far worse than the 1930s as banks go bust and jobs are lost. The 91 largest eurozone banks in the eurozone need about €4000 billion or four trillion euros to roll over their debt or funding in the next year alone , according to the FT.
20 September 2011 The Central Bank of Ireland (CBI) will see its supervisory and enforcement abilities enhanced under new legislation, the European Central Bank (ECB) has said, welcoming this latest stage in the government’s overhaul of the banking system. The Central Bank (Supervision and Enforcement) Bill 2011 was published at the end of July by Finance Minister Michael Noonan.
ECB Praises Irish Central Bank Reform Plans
AFP: Spanish bank bad loans hit 16-year high: central bank
MADRID — Bad loans from Spanish Banks, a major source of concern to financial markets, rose in July to the highest level in 16 years at nearly seven percent, the Bank of Spain said Monday. Bank loans whose recovery is in doubt amounted to 124.7 billion euros ($171.9 billion), or 6.94 percent of total assets, in July, the central bank said in a report -- the highest ratio since February 1995. That compares to a revised bad loan ratio in June of 6.69 percent in June. The central bank had previously said the bad loan ratio was 6.42 percent that month. Bad loans at Spanish lenders, especially its regional savings banks which account for half of all lending, have risen steadily since the collapse of the property sector at the end of 2008.
Bernanke Tolerating Inflation to Revive Economy - Bloomberg
Inflation flashing red may be less of a green light for higher interest rates as global growth falters. Some Federal Reserve policy makers favor keeping their benchmark rate close to zero until price increases reach a level Vincent Reinhart , a former top official, says could be 3 percent. The Bank of England has held its key rate at a record low even as U.K. inflation breached its 2 percent target for 21 months. Brazil executed a surprise cut Aug. 31 to safeguard its economy even after inflation quickened to a six-year high.
Goodbye Euro, Hello Drachma | ZeroHedge
A few months ago, when Zero Hedge first broke the news that the Drachma is trading at several major banks on a "when issued" basis at the client's request, it was promptly dismissed. Alas, it may be time to dismiss the dismissal, after Spiegel reports that as one of the scenarios considered for a Greek default, Germany anticipates the reintroduction of the drachma by the pathological liars at the Greek parliament. Yes: the currency that Greece was so happy to jettison 10 years ago when after the assistance of Goldman to hide its bloated debt, to much pomp and circumstance it entered the soon to be defunct Eurozone, is coming baaaaack. German Finance Minister Wolfgang Schäuble, who is reportedly doubtful that the country can be saved from bankruptcy, is preparing for the possibility of Greek insolvency. Officials in his ministry are currently reviewing scenarios for handling such a situation, exploring what it might mean for the rest of the euro zone.
Uncertainty Causing Lackluster Economic Growth | Mercatus
We're sorry, the publication or page you're looking for has been moved or cannot be found. Please use the search box below or the advanced search feature to aid your search.World Bank President Robert Zoellick indicated that risks to the global economy are intensifying, with the euro region’s outlook dependent on European leaders making the right decisions. “We are moving into a dangerous period,” Zoellick said in an interview with Bloomberg Television in Singapore today. While the U.S. is likely to avoid a return to recession, escaping with slow growth, the euro zone is facing a “particularly sensitive time,” he said. Enlarge image Sept. 6 (Bloomberg) -- World Bank President Robert Zoellick discusses the global economy, the prospects for a "double-dip" recession in the U.S. and expectations for the euro zone.
World in ‘Dangerous’ Period With Europe Turmoil: Zoellick - Bloomberg
Ministry of Finance - Economic Overview of Israel
This page contains brief and general information on the Israeli economy, with links to more detailed publications. Some of the Israeli government publications in this page are not Ministry of Finance publications. For these, the relevant governmental source will be mentioned. Introduction Established in 1948, Israel is the world's only Jewish state, and the sole democracy in its vicinity. Israel is made up of more than seventy different nationalities and cultures and is home to religious and ethnic minority populations such as Muslim Arabs, Christians, and Druze.Record Silver Coin Sales at Perth Mint is the Top Story On Bloomberg Right Now
Silver-coin sales from Australia’s Perth Mint, which was founded in 1899 and processes all of the country’s bullion, have surged to a record as buyers seek to protect their wealth with the metal known as poor man’s gold. The mint sold 10.7 million 1-ounce silver coins since July 1 last year, according to Sales and Marketing Director Ron Currie. That’s 66 percent higher than the previous full fiscal year and about 10-fold more than five years earlier. Sales of 1- ounce gold coins will be close to a record, he said.For you non-political types and those that hate learning, I personally ask you to at least watch a couple of the Youtube videos. Knowledge is power. Because I respect you as a fellow citizen, I want you to have the power to protect you from lying bastard politicians of both major political parties.
WETHEPEOPLE #Economy #Obama #MiltonFriedman Rocks, #Keynesian s are dumber than a box of Rocks #Edu
Is climate change raising sea levels, as Al Gore has argued -- or are climate scientists doctoring the data? The University of Colorado’s Sea Level Research Group decided in May to add 0.3 millimeters -- or about the thickness of a fingernail -- every year to its actual measurements of sea levels, sparking criticism from experts who called it an attempt to exaggerate the effects of global warming. "Gatekeepers of our sea level data are manufacturing a fictitious sea level rise that is not occurring," said James M. Taylor, a lawyer who focuses on environmental issues for the Heartland Institute. Steve Nerem, the director of the widely relied-upon research center, told FoxNews.com that his group added the 0.3 millimeters per year to the actual sea level measurements because land masses, still rebounding from the ice age, are rising and increasing the amount of water that oceans can hold.
Changing Tides: Research Center Under Fire for 'Adjusted' Sea-Level Data - FoxNews.com
Hawaii’s Mauna Kea summit blanketed with 3 inches of snow | The Extinction Protocol: 2012 and beyond
RT @USAGodG20 \ #France #US exchange rates http://youtu.be/oTv5X7or9hY G2O Building #economic #NWO o
RT @FinanceIsrael End of trade in Tel Aviv Stock Exchange for today, see: http://bit.ly/ceqb80 #Isra
Economics & Politics