Greenspan - I was wrong about the Free Market System
The former Federal Reserve chairman, Alan Greenspan, has conceded that the global financial crisis has exposed a “mistake” in the free market ideology which guided his 18-year stewardship of US monetary policy.A long-time cheerleader for deregulation, Greenspan admitted to a congressional committee yesterday that he had been “partially wrong” in his hands-off approach towards the banking industry and that the credit crunch had left him in a state of shocked disbelief. “I have found a flaw,” said Greenspan, referring to his economic philosophy. “I don’t know how significant or permanent it is. But I have been very distressed by that fact.”
Alan Greenspan: the job market will likely get worse
The Labor Department said new applications for unemployment benefits rose 15,000 to a seasonally adjusted 478,000, above analysts’ estimates of 470,000.Former Federal Reserve Chairman Alan Greenspan said the job market will likely get worse.”Given the financial damage to date, I cannot see how we can avoid a significant rise in layoffs and unemployment,” Greenspan told a House committee Thursday.
Alan Greenspan: Necessary condition on elimiating Financial Crisis is to Stabilize the real estate market
“I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms,” said Greenspan. He expressed that the necessary condition on elimiating financial crisis is to stabilize the real estate market.
Related posts:
- U.S. Real Estate Market; European Real Estate Market
The world’s large inventory of real estate: the U.S. market is no sign of warmer... - Greenspan has admitted the mistakes
Greenspan, “the two crimes” From the post of the U.S. Federal Reserve Chairman, Alan Greenspan’s... - New York real estate market, Japanese real estate market
In New York the real estate encountered winter In the financial crisis and economic downturn... - Annual analysis of 2008 Shenzhen real estate market and forecast of 2009 Shenzhen real estate market
Review and forecast of Shenzhen real estate market From Macro-economic point of view, Shenzhen economic... - Annual analysis of 2008 Beijing real estate market and forecast of 2009 Beijing real estate market
Review and forecast of Beijing real estate market in 2008 and 2009 In the first...
Proportion of Supply and Demand in Shanghai Real Estate reaches 3.3:1
When the State Council firstly put forward “reducing housing trade tax and supporting residents to purchase houses”, Shanghai real estate market again fell to the bottom. Last week, the supply of housing increased by 38%, while trading volume fell by 20%, the proportion between supply and demand ratio reached an unprecedented 3.3 to 1.
Slight warm in the Real Estate Market around Yangtze River Delta, but housing prices in Shanghai fell 0.9% in September
According to the data from the Development and Reform Commission that in the center of the Yangtze River Delta, Nanjing and Shanghai in September respectively reduced 2.9% and 0.9% compared with the data in August. Among which, sales price below 90 square meters of new housing fell 6.8% and 0.9 % respectively in Nanjing and Shanghai compared with August.
Housing Prices are expected to rise, but will not have great rebound
Ministry of Finance, State Administration of Taxation, the People’s Bank of China issued a number of real estate control measures, including exemption on trading tax, decline on loan interest, reduction on first payment proportion, etc. However, professionals in Shanghai real estate market research new policies and put forward 14 rules, including adjustment on general housing standard, enhancement on volume of accumulation fund and other measures, which are regarded as the “cardiac” to the market. Actually, its aim is not to increase the housing prices but to enliven the market.
Related posts:
- Shanghai, Beijing, Guangzhou Real Estate Market and Housing Prices
Shanghai Real Estate Market shows the warmer trend Since the issuance of Shanghai public housing... - Beijing Real Estate Market and Housing Prices
Beijing will not introduce real estate policy temporarily as the co-ordination problems in departments Although on... - Latest data in 2008 Shanghai Real Estate; 2009 Shanghai real estate market
Shanghai average price for new house is 1.506 million yuan for each, which falls by... - Hangzhou Real Estate Market and Housing Prices
Adjustment in Hangzhou Real Estate Market: Number of “10,000 Yuan Houses” has reduced After Housing... - Chinese Real Estate Market: Hong Kong, Shanghai, Beijing, Guangzhou, Shenzhen
Hong Kong Real Estate Market enters into the Glacier Epoch As the economic tsunami spreads...
Foreign Exchange Reserves decline gradually, Pakistan ask IMF for help
Pakistani foreign exchange reserves only could maintain import activities for 6 weeks, so Government of Pakistan admits to take the necessary action. International Monetary Fund (IMF) said on Oct.22 that they would hold consultations with Pakistan and help them to cope with the financial crisis.
Dark Clouds of Financial Crisis hang over the Pakistan
As the rapid shrinking of foreign exchange reserves, the Government of Pakistan is currently facing a severe debt crisis. Deterioration of the economic situation has also led to high domestic inflation, which greatly influenced the life of residents. Therefore, the Government of Pakistan is active to consult with IMF, UK and U.S. in order to obtain financial assistance.
Credit Rating Agency: IMF Rescue can not solve the plight in Pakistan
Pakistan asks for help from IMF and takes a positive step for solving the domestic economy crisis. However, the credit rating agencies think that this crisis is far from over.
Related posts:
- World Foreign Exchange Reserves
In 2008, the world foreign exchange reserves list (unit: million U.S. dollar); 1. China foreign exchange... - Taiwan and South Korea Foreign Exchange Reserves
Taiwan’s foreign exchange reserves jump to the fourth largest one in the world According to... - Foreign Exchange Reserves of China
China’s foreign exchange reserves exceeded 2 trillion dollars Chief economist, National Bureau of Statistics, Yao... - Chinese Foreign Exchange Reserves
China has the strongest affordability with 1.9 trillion dollars foreign exchange reserve in the world.... - Foreign exchanging reserves
China’s foreign exchanging reserves dropped Cai Qiusheng from Foreign Depts of Capital management agency of...
Translate (most links are in Chinese)