CNNMoney May 13, 2013 By Chris Isidore The Detroit city government is weeks away from running out of the cash it needs to operate, according to an initial report from the emergency manager overseeing its finances. The report from Kevyn Orr, the bankruptcy attorney appointed by the state in March, lays out a … Continue reading
Stodgy Netherlands Is Nation That’ll Blow Up Euro
Commentary: Overindebted Dutch heading deeper into recession Market Watch May 08, 2013 By Matthew Lynn LONDON (MarketWatch) — Which euro-zone country is most deeply in debt? The profligate Greeks, with their generous state-funded pensions? The Cypriots and their banks stuffed with dodgy Russian money? The recession-hit Spaniards or the boom-and-bust Irish? None of … Continue reading
“The Bull Market is Very Much Intact” for Gold: World Gold Council
Yahoo Finance May 06.2013 By Lauren Lyster In mid-April we saw gold plummet to just below $1400 an ounce, its lowest price since March 2011. The precipitous drop in April put the yellow metal technically in bear market territory, with people trying to figure out where it’s headed next. Fast-forward to last Friday … Continue reading
German Euro Founder Calls For ‘Catastrophic’ Currency To Be Broken Up
Oskar Lafontaine, the German finance minister who launched the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is “leading to disaster”. The Telegraph May 05, 2013 By Ambrose Evans-Pritchard “The economic situation is worsening from month to month, and unemployment has … Continue reading
U.S. Homeownership Rate Falls to Lowest Since 1995
Bloomberg April 30, 2013 By Prashant Gopal & John Gittelsohn The U.S. homeownership rate fell to the lowest in almost 18 years, reflecting rising demand for rentals and investor purchases in the housing market. The share of Americans who own their homes was 65 percent in the first quarter, down from 65.4 percent … Continue reading
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