Salient to Investors: Cap Gemini and Royal Bank of Canada said in their millionaire report for 2012: North America reclaimed the most millionaires top spot. 3.73 million North Americans had at least $1 million in investable assets versus 3.68 million in Asia-Pacific. The combined wealth of the world’s millionaires rose 10 percent to
READ MORE... →Salient to Investors: Fareed Zakaria said: China does infrastructure better than anyone in the world – trains, roads, airports, subways built at amazing speed, on a grand scale and with great foresight. The HK Nicaragua Canal Development Investment Company, Ltd, will help finance a Nicaraguan canal at a total cost
READ MORE... →Salient to Investors: The IMF lowered its US growth forecast for 2014 to 2.7 percent, maintained 2014 at 1.9 percent, and said the Fed will maintain QE until at least the end of 2013. Bryan Novak at Astor Asset Mgmt said interest rates need to rise, but with growth is
READ MORE... →Salient to Investors: Jim Rogers said: When investing, don’t follow the crowd Most government numbers are made up. China has problems with housing and inflation as the US did in the 19th century when it was growing rapidly. Every country that grows rapidly has problems. The US had recessions and
READ MORE... →Salient to Investors: Nouriel Roubini writes: QE is not creating credit for the real economy, but instead boosting leverage and risk-taking in financial markets. Issuance of risky junk bonds under loose covenants and with excessively low interest rates is increasing, the stock market is reaching new highs, despite the growth slowdown,
READ MORE... →Salient to Investors: Jim O’Neill said: The US is returning to normality so expect 10-yr T-yields to rise toward 4 percent in the next couple of years as the 30-year bull market in bonds comes to an end. There will be quite ugly days. The global economy is in the early stages of
READ MORE... →Salient to Investors: Daniel Friedman at UC at Santa Cruz and author Daniel McNeill write: Bailouts suggests to most laypeople gifts to a giant, inefficient, highly connected octopus, but they are typically investments – loans or purchases. The US bailout of Chrysler made a $660 million profit and the nation
READ MORE... →Salient to Investors: Standard & Poor’s said: It increased the US’s AA+ credit rating outlook to stable from negative based on receding fiscal risks, and the US has a less than 1-in-3 likelihood of a downgrade in the near term due to tentative improvements like the deal to avoid the
READ MORE... →Salient to Investors: S&P said the U.S. has a less than 1-in-3 likelihood of a downgrade of its AA+ credit rating in the “near term”, and sees tentative improvements including the deal to avoid the fiscal cliff. Demand for Treasuries at auction has slackened amid signs of improvement with the
READ MORE... →Salient to Investors: Fareed Zakaria writes: The great American housing market is back. The American economy has again shown its core character of flexibility and resilience. The US is the only rich country in the world whose population is growing – by 3 million a year, mostly legal immigration. Americans
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