News Alerts. Nov. 4, 2013. Evening Edition. #RealEstate

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  1. Euro-Area Unemployment Held at 12.2% Record High in September – Bloomberg News Alerts. Nov. 4, 2013. Evening Edition. #RealEstate

    Euro-area unemployment held at a record high in September, worse than economists had estimated.

    The jobless rate stood unchanged at 12.2 percent, the European Union’s statistics office in Luxembourg said today [Oct 31, 2013], revising the August figure from 12 percent previously. Economists forecast a rate of 12 percent, based on the median of 36 estimates in a Bloomberg News survey.

    We don’t ever see the “discouraged-workers” figure the way we do for the US economy.

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  2. Bill Gross Feels Sorry For Less Well-Off – Business Insider News Alerts. Nov. 4, 2013. Evening Edition. #RealEstate

    Instead of approaching the tax reform argument from the standpoint of what an enormous percentage of the overall income taxes the top 1% pay, consider how much of the national income you’ve been privileged to make.

    In the United States, the share of total pre-tax income accruing to the top 1% has more than doubled from 10% in the 1970s to 20% today. Admit that you, and I and others in the magnificent “1%” grew up in a gilded age of credit, where those who borrowed money or charged fees on expanding financial assets had a much better chance of making it to the big tent than those who used their hands for a living.

    Bill Gross is part of a growing movement.

    Not only that but there will be more general prosperity if the billionaires around the planet adopt his attitude. All boats will rise with the tide. The super-rich will not experience a reduction in their standard of living or quality of life but rather they will experience the benefits of a rising global economy for all where everything gets better for everyone.

    What’s your view on it?

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  3. The “N” in NDP Now Stands for Neoliberal | Yves Engler News Alerts. Nov. 4, 2013. Evening Edition. #RealEstate

    We’re quoting an amazing section of this article, which section is clearly off topic where the whole article is concerned. It’s not that we haven’t done that sort of thing before, but we’re taking it out of context, so to speak, to make a different point or, more so, as a follow-up to our post on Bill Gross’s revelation.

    We wanted to draw your attention to it this time because this movement is really taking hold, albeit slowly at first. We expect it to grow. The pendulum is swinging away from abject greed, which we believe is a good development for all concerned, which really is everyone.

    … the International Monetary Fund is proposing a more progressive tax policy than Canada’s “Left” party. Last week the usually neoliberal-minded IMF released a paper that noted, “tax systems around the world have become steadily less progressive since the early 1980s.” To rectify this the Fund’s Fiscal Monitor presented an argument to increase income taxes on high earners to 60 to 70 per cent and even suggested a capital levy on wealthy households.

    Long a proponent of socially devastating austerity policies, the IMF basically proposes a return to the income tax levels that were common three decades ago.”

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  4. 8 more Austin real estate brokerages turn off flow of listings to portals | Inman News News Alerts. Nov. 4, 2013. Evening Edition. #RealEstate

    Andrea V. Brambila reports:

    The firms [“Austin-based real estate brokerages”] had previously been syndicating to several websites through ABoR’s agreement with ListHub, but will now only syndicate to the Realtor-affiliated sites ABoR will syndicate to, including, (ABoR’s official search site) and (operated by the Texas Association of Realtors).

    The brokerages cited the desire to protect consumers from third-party sites’ inaccurate listing data and lack of oversight, as well as objections to the sites’ ad-based business models, as reasons behind the decision.

    “Our 220 agents are excited to regain control over where their listings are advertised online. We turned off our direct feed to all unregulated third-party websites because we believe they cause distrust between consumers and Realtors by posting inaccurate and outdated listing information, ” said Jonathan Boatwright, co-owner of Realty Austin, in a statement.

    “From now on, our sellers will make an informed decision for their listing and our buyers will learn why it makes sense to use a website powered by the MLS.”

    The article is a scathing report against the likes of Zillow and Trulia.

    It will be interesting to see how many other agencies follow suit and whether Trulia and Zillow and the others can fix things to lure the agencies and associations back.

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  5. REIT-Specific Trading Platform Launched | Commercial Observer News Alerts. Nov. 4, 2013. Evening Edition. #RealEstate

    “Everyone is familiar with portfolio REITs, but the genesis here was to bring single asset REITs to the marketplace,” Paul Frischer, co-founder and chief executive of ETRE, told The Commercial Observer.

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  6. Bill Gross: Why the Rich Should Be Taxed More: Video – Bloomberg

    After we posted the previous article on Bill Gross’s comments about capital-gains rates, we came across this video of him on Bloomberg discussing it.

    Pimco’s Bill Gross discusses why we should be taxing the top one percent more with Trish Regan on Bloomberg Television’s “Street Smart.”

    We must say that his statements are very much more in line with our own that we’ve been making for some time now on this site.

    Do you agree with Bill and the others on this issue? We’d love to hear from you one way or the other. Our commenting section is below. Feel free. All civil comments will be approved whether they agree with us or not.

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  7. Why the Fed can’t taper | PRAGMATIC CAPITALISM News Alerts. Nov. 4, 2013. Evening Edition. #RealEstate

    Frances Coppola writes:

    Tapering is removing central bank support of asset prices. Unless not just the US economy but the GLOBAL economy is “on the up” at the time that tapering commences, the result of tapering will be a global fall in asset prices. That isn’t going to cause hyperinflation, as the Austrian school thinks, but it would cause a global recession.

    That’s been our position.

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