Paging Henry George

One of those news items I should have noted already.  PBT points out that one of the city of Pittsburgh’s property tax abatement is drawing to a close.  The article is talking about the LERTA program which is a state statute that allows municipalities to exempt taxes on commercial real estate in a designated district . . . → Read More: Paging Henry George

Australian Housing to Bust, Eventually

This post by Terry McFadgen on Australian housing prices is a good summary of the question of if/when prices will tank. One thing overseas readers should keep in mind is that Australian borrowers can’t walk away from their debt – the bank can foreclose on you and then go after you or bankrupt you . . . → Read More: Australian Housing to Bust, Eventually

John Kaiser: $1,200 Gold is New Normal

What is good for the U.S. economy is good for gold. John Kaiser, editor of Kaiser Research Online, has proposed a graphic model that relates the value of all above-ground gold stock to global Gross Domestic Product (GDP), thereby explaining why higher real gold prices—even with a recovering American economy—will be the new . . . → Read More: John Kaiser: $1,200 Gold is New Normal

Economic Events on May 16, 2011

At 8:30 AM EDT, the Empire State manufacturing index for May will be released.  The consensus is that the index value will be 20.0 which would be 1.7 points lower than the value reported in April.

At 9:00 AM EDT, the Treasury International Capital report for March will be released, showing the flow of . . . → Read More: Economic Events on May 16, 2011