James Dale Davidson’s latest special report, “The Plague of the Black Debt,” went live to Notes readers yesterday.
In past downturns, it was a resurgent U.S. housing market that led the American economy out of the recessionary doldrums. But U.S. investors shouldn’t expect history to repeat itself this time around.
Deja vu all over again… are stocks just following the 2008 playbook?… Bill Jenkins shares his favorite global currency… Gold bugs beware: Gold chart forecasts a sell-off… Yet league of famous funds (and Chris Mayer) are buying up gold stocks… Plus, are we reading this right? A bank bails out the government?
Almost half of all American adults no longer believe that home ownership is a realistic way to build wealth. That’s according to Gail Cunningham of the National Foundation for Credit Counseling, quoted in Barron’s this week.
U.S. stock futures pointed to a flat open on Tuesday after data showed April home prices in 20 U.S. cities declined, but less than expected.
Where the Smart Money is in the Housing Market.
Tuesday, October 9, 2007 started as a nice day in New York City. A lovely early fall day, with the temperature still a balmy 80° at 2:00 in the morning. By evening, though, the temperature had dropped twenty degrees, the clouds had rolled in, there was thunder and rain. As with the weather, there were some hints of trouble here and there on Wall Street. But all in all, things could not have seemed better. Little did we know, the stormy end of 10/9/07 signaled a very large bubble that had just popped.
Currencies & Gold move together! Fed downgrades economic growth… More on China… Yen breaks the trading pattern… And Now… Today’s Pfennig!
On Monday it was announced that Homebuilder Sentiment rose again in April, marking the eight-straight month of increases. Yesterday the April Building Permit and Housing Start reports came out, and they both woefully missed estimates.
In the currency market, the dollar declined against the euro. Late Monday, the euro was trading at $1.3535 vs. $1.3471 on Friday.