Monday, August 20, 2012

Today's links

1--Will the Economic Data Re-elect President Obama?, pragmatic capitalism

2--China's Big Four boost new bank loans in Aug first half -report, Reuters

3--Americans Cut Their Debt, The Big Picture

4--Banks Use $1.77 Trillion to Double Treasury Purchases, Bloomberg
While the gap has narrowed to $1.75 trillion as of Aug. 8 as lending of $7.12 trillion trailed $8.87 trillion in deposits, the gap is more than 17 times the $100 billion average in the decade before credit markets seized up, Fed data show.

Commercial and industrial lending reached a peak of $1.61 trillion in October 2008, a month after the bankruptcy of Lehman Brothers Holdings Inc. As the credit crisis deepened, loans tumbled to $1.2 trillion two years later, before recovering to $1.46 trillion Aug. 1.

The recent rise isn’t keeping up with record bank deposits as savings of U.S. households have risen to 4.4 percent of incomes as of June from 1.7 percent in 2007, the data show.

5--GSEs admit to “Managing our REO inventory to minimize costs and maximize sales proceeds”, OC Housing News

Admission of manipulation?
6--Low-interest locusts: David Cay Johnston, Reuters
7--FHA's 30x leverage on mortgages is creating a new "subprime" market , sober look

8--Slow housing starts offset boom-time construction, housingwire

9--China New-Home Prices Rebound After Interest-Rate Cuts, Bloomberg

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