• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Housing Bubble

Tyler Durden's picture

America's Road To Serfdom: 51% Of Renters Are Over-40 Years Old





While popular perception holds that debt-ridden, broke millennials are the ones driving the rental market, the truth is far more nuanced... and depressing for those who still cling breathlessly to The American Dream. The truth is millions of Americans were reduced to neo-feudal serfs by the financial crisis, and how those who ruined the economy profited handsomely from the process.

 
Tyler Durden's picture

Meet The Peer 2 Peer Lending Website That Funded The San Bernardino Shooters





"Prosper is the market leader in peer-to-peer lending-a popular alternative to traditional loans and investing options. Prosper allows people to invest in each other in a way that is financially and socially rewarding. We cut out the middleman to connect people who need money with those who have money to invest...so everyone prospers!"

 
Tyler Durden's picture

Suicides In Alberta Soar In Wake Of Canada's Oilpatch Depression





The suicide rate in Alberta has increased dramatically in the wake of mounting job losses across the province. According to the chief medical examiner's office, 30 per cent more Albertans took their lives in the first half of this year compared to the same period last year. "This is staggering," said Mara Grunau, who heads the Centre for Suicide Prevention.  "It's far more, far exceeds anything we would ever have expected, and we would never have expected to see this much this soon."

 
Tyler Durden's picture

NYT Reports On The "Biggest Risk Facing China" As Beijing Launches "Unprecedented" Crackdown On Angry Workers





“There have been arrests and crackdowns before on grass-roots labor organizations here,” one activist, He Shan, said in a telephone interview from Shenzhen, a mainland city that abuts Hong Kong. “But this is the most concentrated, the most serious. For us, this is unprecedented.”

 
Tyler Durden's picture

Weekend Reading: Market Forecasting





The mainstream media is increasingly suggesting that we have once again entered into a 'Goldilocks Economy.' The problem is that in the rush to come up with a 'bullish thesis' as to why stocks should continue to elevate in the future, they have forgotten the last time the U.S. entered into such a state of 'economic bliss.' You might remember this: "The Fed's official forecast, an average of forecasts by Fed governors and the Fed's district banks, essentially portrays a 'Goldilocks' economy that is neither too hot, with inflation, nor too cold, with rising unemployment." - WSJ Feb 15, 2007. Of course, it was just 10-months later that the U.S. entered into a recession followed by the worst financial crisis since the 'Great Depression.'

 
Tyler Durden's picture

Hong Kong Housing Bubble Suffers Spectacular Collapse As Sales Plunge 42% To Record Low





Hong Kong's once-upon-a-time raging housing bubble just got its last rites after November home sales sank to a record low as an imminent interest rate in the US this month scared away prospective buyers. According to Land Registry data, reported by SCMP, November saw 2,826 registered residential transactions, down 14.4% from October and 41.7% less than in November last year. This was the lowest print in the history of the series.

 
Tyler Durden's picture

Housing Bubble 2.0 Exposed (In 1 Simple Chart)





The gap between real house prices and real earnings is even wider than it was in Housing Bubble 1. History (and common sense) suggest that housing prices will once again fall sharply until the black line of house prices is well below the red line of real earnings. To expect anything different is unrealistic and highly dangerous to one's financial well-being.

 
Tyler Durden's picture

Looney Plunges As Canadian GDP Collapses Most Since 2009





Who could have seen that coming? It appears, for America's northern brethren, low oil proces are unequivocally terrible. Against expectations of a flat 0.0% unchanged September, Canadian GDP plunged 0.5% - its largest MoM drop since March 2009 and the biggest miss since Dec 2008. With Canada's housing bubble bursting, it's time for the central planners to get back to work and re-invigorate the massive mal-invesment boom (and ban pawning of luxury goods).

 
Tyler Durden's picture

Giving "Thanks" To The Fed - Holiday Dinner Has Never Been More Expensive





Price for Thanksgiving dinner pre-Fed: $0.50

Price for Thanksgiving dinner 102 years after establishement of the Fed: $50

 
Tyler Durden's picture

Swiss Bank "Goes There", Applies Negative Rates To Retail Deposits





"We have determined that applying a negative rate was a more transparent and fairer solution for our clientele. This decision on negative rates is costing us a lot of money -- pretty much the equivalent of our entire annual profit last year."

 
Tyler Durden's picture

Subprime Auto Lending Soars As Fed Report Shows Spike In Loans To Underqualified Borrowers





In what amounts to evidence that the subprime auto problem is indeed growing, The New York Fed's Quarterly Report on Household Debt and Credit (out today) shows that lenders extended more than $110 billion in auto loans to borrowers with credit scores below 660 over the past six months alone. 

 
Syndicate content
Do NOT follow this link or you will be banned from the site!