Tag Archives: Regime Uncertainty

U.S. Homeownership Rate Falls to 20-Year Low

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“The U.S. homeownership fell to its lowest level in 20 years at the end of 2014—levels last seen when national leaders embarked on a broad push to expand homeownership in the mid-1990s.  Over the past year, President Barack Obama and other administration officials have voiced alarm that lending has gone from one extreme during the bubble—too loose —to the other—too tight—in the aftermath of the bust.  Officials have walked a fine line in attempting to bar a return of the reckless products and practices that allowed the bubble to inflate 10 years ago while loosening some standards elsewhere to provide broader access to homeowners without perfect credit or big down payments.”

http://blogs.wsj.com/economics/2015/01/29/u-s-homeownership-rate-falls-to-20-year-low/

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Obama renewing call to reauthorize Export-Import Bank

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“President Barack Obama is ramping up pressure on Congress to reauthorize the Export-Import Bank.  The obscure federal agency’s charter expired last month after lawmakers refused to reauthorize it. The bank underwrites loans to foreign companies purchasing American products, but conservatives call it corporate welfare.  Obama on Wednesday plans to meet at the White House with owners of small- and medium-size businesses that have benefited from the bank. Senate Majority Leader Mitch McConnell of Kentucky has floated the possibility of attaching the bank’s reauthorization to a six-year highway and transit bill.”

http://www.usnews.com/news/business/articles/2015/07/22/obama-renewing-call-to-reauthorize-export-import-bank

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Aussie, Kiwi And Loonie Under Commodity Currency Attack

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“Recent actions and rhetoric from Commonwealth Prime Ministers, and their respective policy makers, have put their commodity sensitive currencies under pressure.  In Australasia, the kiwi ($0.6592) and Aussie dollar ($0.7370) both linger within striking distance of their six-year lows. In North America, the loonie has fared no better, straddling its own six-year low, while under attack from last week’s Bank of Canada (BoC) rate cut to +0.5%. For now, dealers and investors are willing to trade as if they do not expect any short-term market reprieve for any of these commodity and interest sensitive currencies.”

http://www.investing.com/analysis/aussie,-kiwi-and-loonie-under-commodity-currency-attack-258998

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Fed rate-hike speculation lifts U.S. dollar to three-month high

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“The dollar reached its highest in nearly three months against a basket of currencies on Monday on a rise in U.S. bond yields as traders built bets the Federal Reserve would raise interest rates later this year.  A plummet in gold prices to five-year lows under $1,100 an ounce also increased the appeal of the greenback, the world’s reserve currency.  Last week, U.S. Fed Chair Janet Yellen testified before Congress, reiterating U.S. interest rates will go up later this year if the economy continues to expand.  St. Louis Fed chief James Bullard told Fox Business network on Monday there was a higher than 50 percent chance the U.S. central bank will raise rates in September.”

 

http://www.reuters.com/article/2015/07/20/us-markets-forex-idUSKCN0PU01920150720

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Commodity Rout Worsens as Prices Tumble to Lowest Since 2002

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“The rout in commodities deepened with prices touching the lowest since 2002 as the prospect of higher U.S. interest rates sent gold tumbling.  Raw materials are losing favor with investors as the dollar gains amid signals from Federal Reserve Chair Janet Yellen that the central bank may raise rates this year on the back of an improving U.S. economy. Higher borrowing costs curb the attractiveness of commodities such as gold, which doesn’t pay interest or give returns like assets including bonds and equities.  Gold futures sank to the weakest in more than five years while industrial metals, grains, Brent crude and U.S. natural gas also slid as a measure of the dollar climbed to the highest since April 13.”

http://www.bloomberg.com/news/articles/2015-07-20/commodities-drop-as-dollar-gain-routs-gold-on-fed-rate-prospects

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Grooveshark co-founder Josh Greenberg found dead at 28

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“Greenberg’s death comes several weeks after Grooveshark reached a final settlement with the record labels that sued it out of business over copyright violations. To avoid a damages trial that could’ve awarded those labels hundreds of millions of dollars, Grooveshark agreed to wipe away its entire existence, erasing all servers and giving ownership of its web domain, mobile applications, and all intellectual property to the labels.  At its peak, the service tallied between 35 million and 40 million users and employed 145 people.”

http://www.theverge.com/2015/7/20/9005785/grooveshark-josh-greenberg-found-dead

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Don’t Agree with the Mayor’s Politics? No Permits for You!

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“Boston mayor Martin Walsh gives Donald Trump the Chick-Fil-A rush over his immigration opinions. If Donald Trump ever wants to build a hotel in Boston, he’ll need to apologize for his comments about Mexican immigrants first, the Hub’s mayor said.  ‘I just don’t agree with him at all,’ Boston Mayor Martin J. Walsh told the Herald yesterday.  ‘I think his comments are inappropriate. And if he wanted to build a hotel here, he’d have to make some apologies to people in this country.'”

http://fee.org/anythingpeaceful/detail/dont-agree-with-bostons-mayor-no-permits-for-you

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Gold price falls to five-year low on US rate rise talk

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“The gold price has fallen to its lowest level in more than five years as talk of a US interest rate rise has led investors to sell the precious metal.  Gold closed 2.5% lower at $1,104.60 an ounce in London, having earlier fallen below $1,100 an ounce for the first time since March 2010.  The gold price is now more than 40% below its August 2011 peak.  The stronger US economy has led investors to expect the Federal Reserve to raise interest rates this year.  The expectations have led investors to gradually sell gold – a perceived safe haven investment in times of crisis – to invest elsewhere.  Other commodities have also fallen, with the price of platinum down 5% – its weakest level since the crisis.”

http://www.bbc.com/news/business-33590480

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Get a Room (But Only if it is Government-Approved)

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“Before we assume that the government crackdown on Airbnb comes from genuine concern about safety, we should consider some other, less benevolent motives.  First, many state and local governments have turned to hotel taxes to pad their budgets. Travelers can pay a tax up to 17 percent of the cost of their hotel room.  Second, and not surprisingly, many hotels staunchly oppose Airbnb. The threat is significant. Last year The Economist magazine stated that Airbnb could reduce hotel revenues as much as 10 percent. The American Hotel & Lodging Association spent over $1 million in lobbying last year, including a variety of attempts to legally disrupt or dismantle Airbnb’s business.”

http://www.independent.org/newsroom/article.asp?id=7438

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Lawyer suing Uber, Lyft has a new target: Home-cleaning startup Handy

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“Shannon Liss-Riordan, the Boston attorney who has launched lawsuits against well-funded transit startups Uber and Lyft over their use of independent contractors, is now suing venture-backed home-cleaning startup Handy.  The New York-based startup connects users looking for household services with independent contractors offering everything from cleaning to handyman services.  The class-action lawsuit was filed in a Massachusetts federal court on Tuesday and seeks reimbursement of expenses and minimum wages for Handy workers, according to Business Insider.  Liss-Riordan has pending lawsuits against Postmates, Caviar, Homejoy and other companies.”

http://www.bizjournals.com/bizwomen/news/latest-news/2015/07/lawyer-suing-uber-lyft-has-a-new-target.html

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