Warning: A wonky, but thankfully short, post follows.
Yesterday, the Naked Capitalism blog reposted some recent research by OECD economist Eduardo Olaberria that looks at the effect of capital inflows on bubbles in assets, particularly housing. With so many other signs of a housing bubble forming in Canada, I decided to quickly see if the . . . → Read More: Political Eh-conomy: A Canadian housing bubble? Evidence from capital inflows
Divestment from fossil fuels is an idea whose time has come. Sparked by Bill McKibben’s Rolling Stone article last summer, “Global Warming’s Terrifying New Math”, divestment campaigns are now up and running on over 300 university campuses in the US, with 4 early victories already notched. Students in Canada have declared tomorrow (March 27) Fossil . . . → Read More: The Progressive Economics Forum: Carbon bubbles and fossil fuel divestment
A letter appears in today’s Globe and Mail in response to recent direction given by Minister Flaherty to private mortgage lenders over mortgage rates. The letter was written by Steve Pomeroy, one of Canada’s leading housing policy experts.
Here is the full text of the letter:
Twice in recent weeks, the Minister . . . → Read More: The Progressive Economics Forum: Glass-House Mortgages
The US Federal Reserve today released its triennial examination of incomes and net worth of American households in the Survey of Consumer Finances. It shows the crushing effects on net worth of a housing and financial bust unparalleled since the great depression.
The shocking results of this study overviewed in the New York Times are . . . → Read More: The Progressive Economics Forum: US family net worth crushed by financial crisis
Image by Images_of_Money The current debate in Washington as to whether or not and under what conditions to raise the debt-ceiling has for the past week dominated global news coverage and the public mind. Absent from the debate and mainstream coverage is a discussion of the debt limit in the context of the American . . . → Read More: World Headlines Review: Debt Ceiling Debate is Moot: USG Owes More Dollars than in Existence
A classic stock market boom-bust cycle is underway in Bangladesh, inciting riots after the closure of the country’s main markets in Dhaka and Chittagong this week. The picture painted by the charts and reports from Bangladesh make for an abject lesson in how markets fluctuate and are driven by salesmanship and sentiment.
The chart below . . . → Read More: World Headlines Review: Bangladesh: Dabbling in Dhaka Stock Markets