A growing chorus of regulators and consumer activists were joined this past week by PIMCO’s Bill Gross in calling for a borrower bailout. It’s sort of like listening to the same song in different.
With the last night’s decision, the 2nd Greek bailout package is finally on its way. However, in order to get the full disbursement of this package Greece has to implement the requested austerity measures and structural reforms, which will be monitored on a quarterly basis by the Troika. Given Greece’s poor track record on implementing such measures and particularly in view of the.
Debt Rattle August 13 2015 – The Automatic Earth – Support The Automatic Earth in 2019! Changes in the media landscape have become an immediate threat to the -financial- survival of The Automatic Earth.It’s time to Support Us! Make a one-time and/or recurring Donation. Our Paypal widget is in the top left corner of this site (bottom of page on mobile). The address for checks and money orders is on our Store and Donations page.
From the Otteau Group:. Recent Housing Slump Extends to 4 Straight Months. Purchase contracts to buy a home in New Jersey fell by 25% in August compared to one year ago as the housing market continues to weaken in the aftermath of expired federal homebuyer tax credits.
If past borrower behavior is rewarded with continued government bailouts, we will se much more of it, and the housing market will become a massive government ponzi scheme. reports this week on home purchases in July were beyond dismal. Sales of existing homes tumbled 27% from June and 25% from a year earlier.
Hence, gross credit is another factor to consider. When loans are made that will in turn be used to make other loans (or equity purchases), the total gross amount of debt in the system is increased. When the ultimate borrowers are not able to repay that debt, it can impact the ability to repay of all the borrowers who used credit to extent credit.
financial – The warning signs that we track closely – initial jobless claims, Richmond Fed, personal income and payrolls – do not show any material deterioration that we can attribute to the sequester. One mystery is why personal income of government workers has not contracted, as fewer hours worked should equal less pay.