The Early Shift
Posted by vriz on 06/30/2009
G.M. is headed to the bankruptcy court today to set the government approved restructuring plan in motion.
The outlook for the global economy improves and the dollar falls. As the experts become more optimistic about the growth outlook for 2010, investors are starting to shift to higher-yield assets and once again direct the flows of capital into the emerging economies, judging that the risk is subsiding.
The prognosis for the U.S. housing market is not that rosy, however. Even though the wave of foreclosures from the bad subprime deals has subsided a new wave of foreclosures brought on by high and increasing unemployment is forming.
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