Bloomberg (August 19)
“The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago.” Though a “systemic meltdown” is not expected, market watchers still anticipate “a string of bankruptcies broad enough to trigger a spike in layoffs in an industry that employs hundreds of thousands of workers, and potentially an increase in some lending rates.”
Tags: Bankruptcies, Failures, Housing bubble, Industry, Layoffs, Lenders, Market, Mortgage, Rates, Spike, Systemic meltdown, U.S.
Washington Post (August 26)
“First was the dot-com bubble, then the housing bubble. Now comes the commodities bubble.” The stock market’s current turmoil is “driven at least in part by a bubble of raw material prices. Their collapse weighs on world stock markets through fears of slower economic growth and large financial losses.”
Tags: Collapse, Commodities bubble, Dot-com bubble, Economic growth, Housing bubble, Raw material prices, Stock market, Turmoil
New York Times (December 27)
A quarter century ago Tiananmen appeared to signal the downfall of the Chinese Communist Party (CCP). Today, “the world’s largest political organization, with 86 million members, seems as robust as ever.” Despite this seeming success, the CCP remains riddled with contradictions and insecurity over everything from protests to environmental catastrophe, a housing bubble and slowing growth. “The dark side of the Chinese dream — the negative fantasy that haunts China’s psyche — explains why Mr. Xi, the strongest Chinese leader since Deng, is so skittish, so ready to jump at shadows.”
Tags: China, Communist party, Contradictions, Deng, Environment, Growth, Housing bubble, Insecurity, Protests, Robust, Tiananmen, Xi
