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Items from Professor Preponomics:
US Government Banking Program Facilitates Remittances to Mexico (Judicial Watch) Excerpt: “The program is called “Directo a Mexico” (Direct to Mexico) and the Federal Reserve, the government agency that serves as the nation’s central bank, launched it nearly a decade ago.”
The Salary Needed to Buy a Home in 27 Different US Cities (Visual Capitalist) Excerpt: “The popping of the Greenspan-era housing bubble took about six years in total to fully “deflate”.”
The Housing Bubble is Getting Ready to Implode: The Scariest Chart in Real Estate Shows an Impending Correction Because You Can’t Afford to Buy a Home Today (My Budget 360) Commentary: I share the concerns of this author although not necessarily all of the conclusions. This article is a good read, and conditions in the housing sector warrant our close attention as do all other matters of economics and finance.
Japan to Print Additional ¥10,000 Bills as More People Stash Their Cash at Home (The Japan Times) Excerpt: “Some financial market sources believe it is because more people are keeping their money at home rather than in banks, because interest rates on deposits have fallen to almost zero after the Bank of Japan introduced a negative interest rate in February.”
What the Bank of Japan Will Do Now that Negative Interest Rates Have Disappointed (CNBC) Excerpt: “Analysts have said they expect the BOJ to ease policy further as economic growth forecasts remain anemic and inflation is still well below the central bank’s target of 2 percent.”
Europe’s Banks Under Scrutiny as Regulators Look Into Panama Papers (Reuters) Excerpt: “Banking watchdogs across Europe have begun checking whether lenders have ties to a massive document leak from Panama that showed how offshore companies are used to stash clients’ wealth.”
ECB Vows to Fight Low Inflation as Draghi Warns of Triple Threat to Eurozone (The Telegraph) Excerpt: “Mario Draghi said the central bank would act as an “anchor of confidence” amid an uncertain global economy, powerful deflationary forces and “questions about the direction of Europe”.”
Personal Economics and Household Finance
12 Frugal Lessons from the Great Depression (Backdoor Survival) Excerpt: “Nothing was wasted.”
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