Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list is an article that says house flippers will stop the housing recovery ......... and the last story is is about a school district can make a $22 million loan turn into $154 million of repayment.
- House price rebound cruising for a fall (Stephen Foley, Financial Times) Could house flippers undo a housing recovery?
- Yet Another Cost of Doing Business Fine: Lender Processing Services Settles with 46 Attorneys General for $127 Million (Yves Smith, Naked Capitalism)
- Imagine That. You Have the Option To. (Roger Erickson, Mike Norman Economics) Look at the pictures - you won't believe your eyes.
- The next supermodel (The Economist) The best political economic model today comes from the Nordic countries. Hat tip to Russell Huntley.
- How Disaster Aid Recipients Voted on Sandy Relief (Al Shaw and Jeff Larson, ProPublica) ProPublica articles are occasionally posted at Global Economic Intersection.
- The Master Meme (James Howard Kunstler, Clusterfuck Nation) You can be sure that when a nation is led by the reality-deficient, unhappy outcomes are a sure thing.
- Stocks Cruisin’ For A Bruisin’ (Cam Hui, Daily Markets)
- 10 tax mistakes you don't want to make (Kay Bell, MSN Money)
- US economic, peace breakthroughs technically easy, AND require public demand (Carl Herman, Washington's Blog) A high school government and economics teacher has a prescription for our problems.
- School districts pay dearly for bonds (Trey Bundy and Shane Shifflett, San Fransisco Chronicle) Lenders are not gouging. Actually they are only getting about 5% average annual interest. The problem lies in balloon payments with interest payment deferral and 40-year pay-off schedules which makes a $22 million loan eventually cost $154 million. Hat tip to Public Banking.