CMHC Case Study Reviews by the Canadian Funding Corp.
OTTAWA — Despite signs long-term mortgage rates are creeping up, the housing market is continuing is bounce back to life according to the Canadian Real Estate Association.
In June, 8.7% more homes were sold than in May. It’s the fifth straight month of increases — a 17.9% increase over June 2008.
“This rebound reflects the releasing of [...]
By Paul Craig Roberts
Counterpunch
Thursday, July 16, 2009
http://www.counterpunch.org/roberts07162009.html
There is no economy left to recover. The U.S. manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.”
The “New Economy” was based on services. Its artificial life was fed by the Federal Reserve’s artificially low interest rates, which produced a [...]