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Monthly Archives: July 2011
Global concerns rise as Senate rejects Bill
“While the debt debacle in Washington preoccupies America, it is causing jitters in power corridors from Beijing to Brussels. The stewards of the world’s largest economies are anxious for a compromise, to keep their own finances from suffering collateral damage.” … Continue reading
Posted in Europe, Real estate and economics, USA, World economics
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Back to 2008, banks could freeze up, says Telegraph
“Default would be an act of collective insanity,” said Willem Buiter, Cititgroup’s chief economist. “It is hard to imagine money market funds operating under this scenario. The inter-bank market would freeze up. The fallout would be far worse than after … Continue reading
SE QLD has worst outlook, but Gail Kelly says don’t worry, be happy
Well maybe she didn’t say “be happy” but it was a mixed message. “ONE of the country’s top bankers says Aussies are being overly pessimistic about the economy and should focus instead on its underlying strengths. “There’s a lot of … Continue reading
“Most crucial weekend in history” coming up
A nail biting weekend as all eyes watch the US… “AUSTRALIAN shares have hit a near 11-month low as investors head into what has been labelled possibly the most crucial weekend in history for financial markets. Negotiations will continue in … Continue reading
Latest US debt vote fails
Republican leaders have abandoned a vote on a plan to raise the debt limit, in a major setback for the authority of Speaker John Boehner who failed to persuade members of his party’s Tea Party wing to support him. Mr … Continue reading
Posted in Real estate and economics, USA, World economics
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A $1Bn bet on USA losing AAA rating
My thanks to Tim Campbell for drawing my attention to this hot news, as a major bet is placed against the US AAA rating on Treasuries. See http://moneymorning.com/2011/07/25/the-1-billion-armageddon-trade-placed-against-the-united-states/
Posted in Real estate and economics, USA, World economics
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Social commentators talk housing affordability
This article shows some interesting figures from NATSEM on housing affordability. Social groups are at the forefront in highlighting affordability issues, though this doesn’t necessarily mean that house prices will fall because of it. See http://www.adelaidenow.com.au/property/news/australians-still-nurture-home-ownership-dream-despite-massive-hike-in-house-values/story-e6frefgc-1226103152332
Rpdata-Rismark house index
The Rpdata-Rismark house price index for June has been released, confirming the continued downward trend in June that we have flagged. It showed a reduction in national median price of 0.6% in June (0.2% seasonally adjusted).
“One damn thing after another”
It was Winston Churchill who defined “history” as “one damn thing after another” and that is how 2011 is starting to feel. What should have been a peaceful year, in which the world economy started growing, has been an endless … Continue reading
QLD industrial market report
The QLD industrial market report is attached. 83 QLD Industrial market overview July 2011 Extract: “In common with the rest of Australia, the Queensland economy slowed during 2008/2009 due to the global financial crisis. However, the slowdown was more pronounced … Continue reading
