With about $1 trillion in mortgage securities on its balance sheet, the Fed owns more mortgages than Treasury securities, and it has been a vital source of support for the housing market over the course of the last year. via David Rosenberg predicts more contraction in economy – Feb. 18, 2010.
Monthly Archives: February 2010
US super-rich get five times more income than in 1995
The incomes of the very rich in the US grew phenomenally between 1992 and 2007, while their tax rates plummeted, according to recently uncovered IRS statistics. via US super-rich get five times more income than in 1995.
Man Bulldozes House Before Bank Can Foreclose
Whoops – China taps more Saudi crude than US
Saudi Arabia’s oil exports to the US last year sank below 1m barrels a day for the first time in two decades just as China’s purchases climbed above that level, highlighting a shift in the geopolitics of oil from west to east. via FT.com / Global Economy – China taps more Saudi crude than US.
Sovereign-debt theories: Domino theory | The Economist
Dubai’s sovereign credit-default-swap spreads soared to their highest level in a year this week, amid concern about the terms of a debt restructuring by a state-owned conglomerate. There is increasingly shrill commentary arguing that Greece is the start of a far bigger problem. “A Greek crisis is coming to America”, blared the headline on aContinue reading “Sovereign-debt theories: Domino theory | The Economist”
QuantumTom 