Prof Steve Keen is a reknowned predictor and forecaster of economy. Steve Keen economic predictions and forecast are based on analysis of increases and falls in debt. He believes the up and down in debt is the driver of the economic cycle.
So, pay attention to debt data and you might see where the economy is heading.
Prof Keen argues that the cycle of growing debt always feeds into rising asset prices as the “euphoria economy” takes over. “The final stage is the emergence of “Ponzi financiers” who invest purely on the basis of rising prices.
“They do not have the cash flow to service their debts. When the cycle turns, they are bankrupt at once and are the first to go.”
You can follow his predictions at steve keen blog.
Prof Keen, of the University of Western Sydney, is author of the best-selling book, ‘Debunking Economics’.
written by Constantine Njeru
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Mortgage Bankers Association’s economic forecast for 2011, released Tuesday at the group’s annual convention in Atlanta.
The group predicts rates on the 30-year fixed-rate mortgage will average 4.4% in the fourth quarter of 2010, increasing to a 4.7% average in the first quarter of 2011, and climbing to 5.1% by the end of next year. That’s barring any “blockbuster” announcement from the Federal Reserve next month, said Jay Brinkmann, chief economist of the MBA.
Source Market Watch online
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Warren Buffet is having a look at how his company, Berkshire Hathaway is performing and is convinced the US economy is on the upswing.
In a 2010 yahoo finance and huffington blog interview the famous investor was quoted saying : -
The stimulus is working
If you feel the massive stimulus is not working for you, Buffet may disagree
“We’re hiring,” he adds, referring to many of his Berkshire Hathaway companies.
Buffet then painted a sunny picture for the US economy
The stimulus is working and the economy will improve in the next 2-3 years.
If you doubt Warren Buffet predictions Just remember his nick name is the Oracle of Omaha
To watch the full interview visit yahoo finance
written by Constantine Njeru
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