The G-8 Cites Recovery Signs

The G-8 is composed of the U.S., Japan, Germany, France, U.K., Canada, Italy and Russia. Representatives met over the weekend in Lecce, Italy to begin crafting an agenda for when a broader set of leaders meet on July 8-10.

The group acknowledged that they are now considering how to back out the swift rescue . . . → Read More: The G-8 Cites Recovery Signs

Does Unconventional Monetary Policy and Unusual Fiscal Policy Presage an Upsurge in Inflation?

Unconventional monetary policy

Central banks worldwide have gone into `unconventional monetary policy’ owing to policy rates having hit the zero interest rate bound, and owing to the difficulties in finance which have impeded the monetary policy transmission. This has involved dramatic increases in money supply, purchases by central banks of government bonds and corporate . . . → Read More: Does Unconventional Monetary Policy and Unusual Fiscal Policy Presage an Upsurge in Inflation?

Why Some Homeowners Are Cheering the LIBOR

One reader contacted me last week with her good news. She said, “Have a look at the letter from my bank. It looks like good news to me!”

I later found out that this reader originated her adjustable rate loan five years ago on a new California home purchase. She was aware at the . . . → Read More: Why Some Homeowners Are Cheering the LIBOR

Do People Make Good Choices Between Income and Leisure?

“What are the applied implications of our findings? In the work area we suggest that a balance between hours of work, social time and leisure will produce the highest well-being, whereas even work that is enjoyable will produce less well-being if carried out for too many hours. Conversely, it would be an error to . . . → Read More: Do People Make Good Choices Between Income and Leisure?

Home Prices Up in a Dozen Cities

Repeatedly we said that the strength of this recovery will be measured in part by how well the housing industry fares.

Recently we’ve seen:

1. Homeowners with more manageable monthly payments 2. Housing starts bounce up 3. The number of foreclosures begin to fall 4. Jumbo mortgage activity increasing 5. Pending home sales jump . . . → Read More: Home Prices Up in a Dozen Cities

Gold And Silver Coin Shortages Again

What is price?  Sure it is the ‘amount of money expected, required, or given in payment for something.’  But even that definition is too broad as it begs the question of expected or required by whom?  Value, utility and price are all subject to individual human action and therefore the price of something is . . . → Read More: Gold And Silver Coin Shortages Again

Employment, Manufacturing, and Leading Indicators Flash Positive Signs

June 18 was yet another good news Thursday. Three independent reports showed positive surprises in employment, manufacturing and leading economic indicators.

Perhaps the biggest news of the day showed that continuing claims for unemployment has now started to fall. It was the first time that continuing claims have fallen since Jan 3. The four . . . → Read More: Employment, Manufacturing, and Leading Indicators Flash Positive Signs

The death of gold

While I have only been blogging for a short while, I have been following goldbug chatter since 1998 when I took up a position in the Depository division of the Mint. At that time it was all doom and gloom with the price in a downward trend, helped along by Gordon Brown with his . . . → Read More: The death of gold

Workers Of The World Unite

Socialism is alive and well. In America, as elsewhere, however, the socialist movement isn’t and never has been a worker’s movement, as it has been made out to be. Socialism has been, from the start, a movement of intellectuals. It festers on college campuses. It is a framework constructed by very smart people who . . . → Read More: Workers Of The World Unite

Dispatches from the Front Line of the Real Estate Wars

In March, I contributed a piece called “The Coming Real Estate Recovery By The Numbers”. I have also written extensively on various plans for real estate recovery policy, my own and other people’s, and the phone has not not stopped ringing.

Well, I am among other things a real estate salesperson. Most of my . . . → Read More: Dispatches from the Front Line of the Real Estate Wars