The U.S. housing market continues to recover. This week, we learned that the number of homeowners who are newly delinquent on their mortgages has fallen to pre-2007 levels. Housing prices also rose 9.3 percent in February for the biggest year-to-year advance since May 2006. To top it off, Fannie Mae, the government-owned mortgage financier, today said it is returning $59.4 billion to taxpayers after a record quarterly profit.
CMIA Capital Partners Pte, run by former bankers at Cargill Inc. and HSBC Holdings Plc, plans to raise $150 million for a private-equity fund by the end of the year to invest in Chinese agricultural businesses.
Rising inequality in the U.S. and Europe generates plenty of commentary nowadays, but not so many compelling prescriptions. I’ve a simple theory for why this is. The left really cares about the issue, but bars itself from considering effective remedies. The right could come up with some effective remedies, but doesn’t really care.
Over the past three decades, the highest incomes in the U.S. have risen dramatically, and that has appropriately received lots of attention. At the same time, however, these high incomes have also become much more volatile, and that has gone almost unnoticed.
China’s income gap will persist at a “dangerously” high level over the coming decade, putting pressure on the nation’s incoming leaders to curb corruption and state control of industries, according to a government adviser.
China’s State Council approved an income-distribution plan intended to tackle the nation’s wealth gap, with the government describing the task as huge, complicated and unable to be completed in a single step.