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Mortgage lending at five-year high, raising housing bubble fears

  By Rupert Jones Mortgage lending hit a five-year high in July, and was almost a third higher than 12 months ago, according to new figures that could bolster fears that government schemes to inject credit into the economy risk fuelling another housing bubble. The Council of Mortgage Lenders (CML) said gross mortgage lending jumped to £16.6bn […]

U.S. And European Auto Sales Are Oceans Apart

From Bespoke Investigroup Wednes morning’s release of auto sales for the month of June shows that even though the idea of globalization says economies are more intertwined than ever before, it doesn’t mean that they now all move in unison. The chart below shows the trailing 12-month total of new car sales in the United […]

The Meaning Of Fed Policy

By Kevin Flynn, from Seeking Alpha   The trouble with most Fed commentary is that so much of it tends to be rooted in the writer’s beliefs of how the world ought to work. I am often reminded of the 1980s thriller “Gorky Park”, whose inspector-protagonist Renko had a colleague (Pasha) with a singular knack for being […]