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Wayne Ellis

Welcome to the Bubble Boom

According to a recent Bloomberg Global Poll, investors today fear the rise of asset bubbles in everything from the Internet to social media to the housing markets in London and China. In fact, 82 percent of responding investors, analysts or traders indicated that they felt Internet and social media shares specifically are at nearly unsustainable rates, while 73 percent felt that way about Chinese housing prices.

[European and Chinese flag shopping bags]

PMI’s Reveal Global Economic Setback

Purchasing Managers’ Index (PMI) flash figures from both the euro zone and China reflect that the global economy grew at a milder pace in November. According to Europe’s flash PMI business survey, the pace of growth slipped from 51.9 last month to 51.5 this month (anything above 50 indicates growth)

Japanese Exports Hit Three-Year High

Led by the auto industry, Japanese exports grew by 18.6 percent and hit a three-year high for the 12-month period ending in October.

Bernanke: Low Rates to Endure Long after QE Ends

Federal Reserve Chairman Ben Bernanke said yesterday, “The target for the federal funds rate is likely to remain near zero for a considerable time after the asset purchases end…” He went on to hint that the target could even endure long after the jobless rate in the United States hits 6.5 percent or lower.

China’s Secret Gold Rush

This year, China will surpass India as the world’s leading gold consumer.

JPMorgan Settles with Justice Dept. for $13 Billion

After months of negotiation, JPMorgan Chase & Co. (JPM) has agreed to a $13 billion settlement with the U.S. government over the sale of its mortgage bonds. That figure includes a $4 billion settlement of the 2011 Federal Housing Finance Agency’s lawsuit, as well.