The economy will not recover until housing prices stabilize. Housing affects not just American families but banks, credit markets and construction business and jobs. Economics editor David Wessel explains.
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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June 30th, 2009 at 2:19 pm
File under ‘who knew?’
June 30th, 2009 at 9:27 pm
Housing will not stabilize/bottom/whatever until employment does the same AND grows appreciatively. This is of course at least a year off, more like two.
June 30th, 2009 at 9:32 pm
………….”.and the risk of something really bad happening???????” Please Mr. Wessel, do tell!