NEW YORK— Professional racecar driver Scott Tucker was arrested Wednesday on criminal charges accusing him of living the high life on the backs of millions of desperate people who used his payday lending operation to get quick cash over the Internet. Authorities said Tucker was arrested Wednesday in Kansas City, Kansas, and would initially appear in court in...» Read More
In the past 8 months housing prices have risen 30 percent while sales volumes have dropped 70 percent. In other words, people buying homes can afford them. There is no panic selling like in the US or Dubai because rules in place for years have prevented the kind of speculation that was rampant in America, where people bought multiple homes with zero down.
Who amongst us has any confidence that our elected officials will solve the country’s debt problem, or for that matter, allow private enterprise to do it in their absence? Intrinsic value is irrelevant; gold positions serve as a short sale on Congress.
The ongoing debate over tax relief has lost all integrity, like a favorite sweater long past its prime. Some believe that tax cuts increase the budget deficit while others suggest wealthy citizens have no moral obligation to share their bounty. Worthy positions indeed, but they are two mutually independent arguments, both valid, one having nothing to do with the other.
Nouriel Roubini has argued China's economy will suffer a hard landing after 2013. He reasons its 47 percent fixed investment share of GDP, 30 percent savings rates, and low wages will cause a deflationary spiral much like in Japan.
J.P. Morgan Chase and other banks are trying to recoup approximately $30 billion a year in lost overdraft fee income by testing $5 ATM fees