Monday, May 31, 2010

German President Koehler Quits

German President Koehler Quits
German President Horst Koehler says he is resigning immediately, following criticism of remarks he made about German military deployments abroad. He said that for an export-orientated country like Germany, it was sometimes necessary to deploy troops "to protect our interests... for example free trade routes".

Wednesday, May 26, 2010

Tuesday, May 25, 2010

Canadas Housing Bubble

Nearly 20% of Homes Overvalued
Seventeen percent of Canadian homes are overvalued, CIBC warned Tuesday, with a 5 to 10 percent price correction likely to hit in the next two years.With higher interest rates likely to make housing less affordable in the coming years and the market beginning to show signs of cooling, prices are "probably" going to fall back as homeowners are increasingly cautious about how they spend their money."The most likely scenario is that higher interest rates will lead to a modest decline in prices in the coming year or two," economist Ben Tal wrote in a report.

Wednesday, May 12, 2010

Faber and Roubini

In Debt Canada

Accountants Worry About Debt Loads
A new report by the Certified General Accountants Association of Canada shows that household debt in the country kept rising through the recession and peaked in December at $1.41 trillion. That's $41,740 on average per Canadian, or debt to income ratio of 144 per cent, which is the worst among 20 advanced countries in the Organization for Economic Co-operation and Development.