A recent parade of of articles discuss the prospects of a pending Canadian housing bust. For example, The Globe and Mail reports Bank CEOs ‘should be worried’ about real estate. Ed Clark, Toronto-Dominion Bank’s outspoken chief executive officer, is playing the contrarian card one more time, publicly arguing that he and his fellow bank CEOs should be cautious about the country’s heated real estate market.
As President Barack Obama prepares for a big White House ceremony Thursday to sign the Jumpstart Our Business Startups Act, the pundit class is working hard to A) issue dire warnings that unsuspecting investors are going to get ripped off, or B) berate "liberal" critics for getting all Chicken Little on JOBS.
The Independent reports Finland warns of euro exit rather than pay debts of others
FINLAND would consider leaving the eurozone rather than paying the debts of other countries in the currency bloc, Finnish Finance Minister Jutta Urpilainen has said.
In a newspaper interview today she said she'd consider crashing her AAA-rated country out of the eurozone.
By Seth Mason:As I reported in a previous article, unemployment is a drain on consumer spending to the tune of $850 billion annually. As I argued in a follow-up piece, 8 million unemployed are set to exhaust their benefits by the end of next year, dragging down consumer spending by more than $1 trillion.