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- Brazil launches $60 billion currency program – Aug. 23, 2013
Hot-money flows in and out wreak havoc on some economies.
The bid to stem the real's decline is likely to give policymakers in Brazil a nasty case of whiplash.
Not long ago, some Brazilian politicians were accusing wealthier countries of waging a currency war as low interest rates sent investors to emerging markets in search of higher returns, pushing their currencies up and making life more difficult for exporters.
But those concerns have been replaced by worries about a flight of capital. Brazil's economy has cooled off from a torrid pace in the past few years as domestic consumption has not made up for the decline in demand for natural resources.
Read the source article … http://money.cnn.com/2013/08/23/news/eco nomy/brazil-real/index.html
- Testosterone Pit – Home – Abenomics Utter Fail: Japan's Crazy Exploding Trade Deficit
There wasn't a scintilla of good news on the import side of the ledger. It's a tabulation of the deindustrialization of Japan. It has been going on for years, but slowly. The earthquake in 2011 pushed Japan Inc., and now Abenomics incentivizes Japan Inc., to move production overseas – and then import the products.
No one can guarantee that Mr. Abe will handle the entire process correctly. If it comes, his failure will not necessarily disprove the effectiveness of quantitative easing, per se.
For more major pessimism that does make some points worthy of consideration, see also:
When "QE Infinity" Turns Into A Pipedream: Hot Money Evaporates, Rout Follows – See Emerging Markets: http://www.testosteronepit.com/home/2013 /8/20/when-qe-infinity-turns-into-a-pip edream-hot-money-evaporates.html
A Very Profitable Part Of Banking Goes Totally To Heck: http://www.testosteronepit.com/home/2013 /8/22/a-very-profitable-part-of-banking -goes-totally-to-heck.html
- Chicago housing market experiences drastic turnaround | 2013-08-21 | HousingWire
IAR President Michael Oldenettel. "Buyers are clearly comfortable enough with the way the economy is progressing to make a big purchase, and sellers are getting off the sidelines as they see prices begin to erase losses sustained during the recession."
Chicago-based Realtor Matt Laricy….
"Now that they're [interest rates] starting to rise up, people who were sitting on the fence are jumping in," he added.
Those comments run exactly contrary to most of the other reports we've read. People had been suggesting that it might happen, that people might jump in if rates rise, but loan applications fell after the rates started rising. Is there something different happening in Chicago, or is this sales psychology they're working? See: http://www.inman.com/wire/redfin-red-hot -housing-market-slows-in-july-but-still- sizzling/
Read the source article … http://www.housingwire.com/articles/2634 5-chicago-housing-market-experiences-dra stic-turnaround
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