AM 1150 Kelowna - Radio Rallies & Reversals
A couple of interesting headlines featured in today's CFA news brief which I thought I'd share. The first is from the Economist magazine titled 'Falling Again':
Sales of homes in the U.S., along with their prices, soared after Congress gave first-time buyers an $8,000 tax credit. When the subsidy expired, so did the boost, with only 28,000 home sold in May, the lowest number recorded for that month. The tax credit did nothing about high inventory, unemployment close to 10% and millions of underwater homeowners, according to The Economist. "And Americans are now left wondering when housing's second dip will find its bottom and real recovery begin," The Economist notes.
The second headline is from the China Daily titled 'Local Govt Debt could Trigger Financial Crisis': The nation's chief auditor warned on Wednesday that local government debt will pose risks to the Chinese economy amid concerns that the debt could trigger a European-style financial crisis.The ratio of debt to disposable revenues at some local governments has exceeded 100 percent, with the highest standing at 365 percent.Debt repayment pressure for some local governments is quite heavy, with the total public debt of 18 audited provinces, 16 cities and 36 counties amounting to 2.79 trillion yuan ($410 billion).
Continuing the discussion on gold from yesterday, Credit Suisse has a revised gold price forecast. If you'd like a copy, ask us at yourlifeyourplan.ca or call 250-868-5525.
GB
Sales of homes in the U.S., along with their prices, soared after Congress gave first-time buyers an $8,000 tax credit. When the subsidy expired, so did the boost, with only 28,000 home sold in May, the lowest number recorded for that month. The tax credit did nothing about high inventory, unemployment close to 10% and millions of underwater homeowners, according to The Economist. "And Americans are now left wondering when housing's second dip will find its bottom and real recovery begin," The Economist notes.
The second headline is from the China Daily titled 'Local Govt Debt could Trigger Financial Crisis': The nation's chief auditor warned on Wednesday that local government debt will pose risks to the Chinese economy amid concerns that the debt could trigger a European-style financial crisis.The ratio of debt to disposable revenues at some local governments has exceeded 100 percent, with the highest standing at 365 percent.Debt repayment pressure for some local governments is quite heavy, with the total public debt of 18 audited provinces, 16 cities and 36 counties amounting to 2.79 trillion yuan ($410 billion).
Continuing the discussion on gold from yesterday, Credit Suisse has a revised gold price forecast. If you'd like a copy, ask us at yourlifeyourplan.ca or call 250-868-5525.
GB
posted by Gordon Bell at
8:34 AM
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