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Frontrunning: October 20
- France, Germany Split on Crisis Solution (Bloomberg)
- Franco-German deadlock over ECB’s role in rescue fund (Telegraph)
- Merkel Risks Own Downfall to Save Greece (Bloomberg)
- Sustainable debt needed to qualify for EFSF support (Reuters)
- Bill Would Give Residence Visas To Foreigners Who Spend At Least $500,000 To Buy Houses In The U.S. (NYT)
- Couldn't happen to a nicer person: SAC Capital Faces Second Deal Probe (WSJ)
- Bullard Says Fed Policy ‘Appropriately Easy’, Relapse Unlikely (Bloomberg)
- Eurozone leaders meet in Frankfurt (FT)
- Geithner: TARP Refinancing Under Lending Program ‘No Mystery’ (WSJ)
- Japan Considering $13B Bond Sale (Bloomberg)
- Swiss Unions Enter SNB Debate as Franc Rumors Swirl (WSJ)
- US economy faces slow growth, Fed says (FT)
- Japan, South Korea boost FX swaps, say uncertainty on rise (Reuters)
- Libyan Fighters Say Qaddafi Stronghold Has Fallen (NYT)
European economic highlights:
- Switzerland Trade Balance for September CHF 1.85bn. Previous CHF 0.7bn.
- Sweden Unemployment Rate n.s.a for September 6.8% - lower than expected. Consensus 7.0%. Previous 6.6%.
- UK Retail Sales ex. auto fuels for September 0.7% m/m 0.4% y/y – higher than expected. Consensus 0.2% m/m. Revised -0.4% m/m -1.0% y/y.
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hey ma! i'm first!!!!!!
The bill on residence visas is an expected development.
It underlines clearly that a large part of the middle class no longer belongs to the US.
In the end, it will grow harder and harder to escape inheritance of US citizenship vs purchase of US citizenship.
New wave of colonization to come as the US middle class will not be able to afford the fee to be granted the right to live inthe US.
After you have riled up the brothers and sisters, think through the supply and demand benefits of allowing wealthy foreigners to buy up surplus houses - and spend their money creating jobs for small businesses.
I think he has, because if you do then the world essentially becomes the most polluted corrupt city in the world. Race to the bottom bitches, BRING IT. Go ahead open those flood gates, fucking laughable. Many places in the United States DO NOT even have reliable water supplies to support the industry and business that they have now, much less grow. Fucking stupid, christ, let's get this race to the bottom over with already and simply make it one big fucking free for all.
Unless the "money" these foreigners are spending is silver and gold you are simply inviting a massive flood of more debt-backed fiat that is doomed to fail and induce a fraudlent hyperinflationary wave. Whatever, like many here I have hedged accordingly, so fucking bring it you stupid fucking sheep.
I have officially written off Mike Lee. A "tea party" "free market" economic guy jumping in with the likes of Chuckie S from NY? REALLY?
What does this moron not understand about CENTRAL ECONOMIC PLANNING. Oh the unintended concequences of this are just.... out of this world. Yep, just buy your way into the US THATS going to fix our problems... Well I guess its safe to include Mike Lee with the typical establishment hacks that has come before him.
Want to know what might spur economic activity, particularly sustainable economic activity? Less of this bullshit.
They wouldn't likely be buying 'surplus houses' in places nobody else wants to live, but rather in places where the bubble has yet to fully pop. Guess that's the point, to keep those places from popping too.
Spend some time in Vancouver BC as well if you aren't fully convinced of how bad this idea is.
You will end up with the criminals and gansters from these other countries, not the real business-builders. Watch the banks loosen their money-laundering laws and put in some certain excemptions if they don't exist already.
yes, it seems that we are in the right direction. ninjatrader
Gaddafi captured... good timing for a diversion.
2 groups fighting in Syntagma Sq & police are just letting it happen ?????? protect government members & staffers- none who will be affected by any cuts- absolutely. protect inncocent protesters from violence - who cares???
Impressive revisions on the UK numbers.
Great!! Chuckie Schumer is simulaneously selling US residence visas and making housing more expensive for Americans... what a swell guy.
Bill Would Give Residence Visas To Foreigners Who Spend At Least $500,000 To Buy Houses In The U.S.
Nah, Bartanist, he's just hoping there's some Chinese suckers out there to unload pricey Manhattan real estate on.
The best part is =====> they wouldn't be able to stay in the country legally on the new visa once they sold their properties.
bwahahahaha
Yep, you can buy into the ponzi, but there is no fucking way you will be allowed to leave. Same con artists in banking and real estate make another killing. Fucking bring it.
yes, you can buy it, but why? I can not see a good reason. thailand yacht charter