October 2013 U.S. Economic Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
- Joined
- Mar 24, 2009
- Messages
- 16,743
Why the next U.S. debt calamity (in 91 days) could be worse
The U.S. fiscal crisis that ended last night won`t even be that distant a memory by the time the next one promises to begin.
Here`s how things look today: As The Globe and Mail`s Kevin Carmichael reports, a truce came via a Senate deal yesterday to end the U.S. government`s partial shutdown and lift its debt ceiling. That was then passed and signed.
Read the full article here.
The U.S. fiscal crisis that ended last night won`t even be that distant a memory by the time the next one promises to begin.
Here`s how things look today: As The Globe and Mail`s Kevin Carmichael reports, a truce came via a Senate deal yesterday to end the U.S. government`s partial shutdown and lift its debt ceiling. That was then passed and signed.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
U.S. shale boom might not last
Chesapeake Energy`s (CHK) Serenity 1-3H well near Oklahoma City came in as a gusher in 2009, pumping more than 1,200 barrels of oil a day and kicking off a rush to drill that extended into Kansas. Now the well produces less than 100 barrels a day, state records show. Serenity`s swift decline sheds light on a dirty secret of the oil boom: It may not last. Shale wells start strong and fade fast, and producers are drilling at a breakneck pace to hold output steady. In the fields, this incessant need to drill is known as the Red Queen, after the character in Through the Looking-Glass who tells Alice, `It takes all the running you can do, to keep in the same place.`
The U.S. is producing 7.8 million barrels of oil a day, more than it has in a quarter-century. Crude from shale formations has cut reliance on imports and put the U.S. closer to energy independence than it`s been since 1989. The International Energy Agency predicted last year that the U.S. would overtake Saudi Arabia by 2020 as the world`s largest producer.
Read the full article here.
Chesapeake Energy`s (CHK) Serenity 1-3H well near Oklahoma City came in as a gusher in 2009, pumping more than 1,200 barrels of oil a day and kicking off a rush to drill that extended into Kansas. Now the well produces less than 100 barrels a day, state records show. Serenity`s swift decline sheds light on a dirty secret of the oil boom: It may not last. Shale wells start strong and fade fast, and producers are drilling at a breakneck pace to hold output steady. In the fields, this incessant need to drill is known as the Red Queen, after the character in Through the Looking-Glass who tells Alice, `It takes all the running you can do, to keep in the same place.`
The U.S. is producing 7.8 million barrels of oil a day, more than it has in a quarter-century. Crude from shale formations has cut reliance on imports and put the U.S. closer to energy independence than it`s been since 1989. The International Energy Agency predicted last year that the U.S. would overtake Saudi Arabia by 2020 as the world`s largest producer.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Blackstone largest U.S. single-family rentals
Steve Schwarzman`s Blackstone Group LP (BX) has spent $7.5 billion acquiring 40,000 houses in the past two years to create the largest single-family rental business in the U.S. The private-equity firm is now planning to sell bonds backed by lease payments, the latest step in turning a small business into a mature industry.
Deutsche Bank AG (DBK) may start marketing almost $500 million of the securities as soon as this week, according to a person with knowledge of the transaction. The debt will include a portion with the highest investment grade from at least one ratings company, according to another person. Both asked not to be identified because the deal isn`t public.
Read the full article here.
Steve Schwarzman`s Blackstone Group LP (BX) has spent $7.5 billion acquiring 40,000 houses in the past two years to create the largest single-family rental business in the U.S. The private-equity firm is now planning to sell bonds backed by lease payments, the latest step in turning a small business into a mature industry.
Deutsche Bank AG (DBK) may start marketing almost $500 million of the securities as soon as this week, according to a person with knowledge of the transaction. The debt will include a portion with the highest investment grade from at least one ratings company, according to another person. Both asked not to be identified because the deal isn`t public.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Pending sales of existing homes slump by most in three years
Fewer Americans than forecast signed contracts to buy previously owned homes in September, the fourth straight month of declines, as rising mortgage rates slowed momentum in the housing market.
The index of pending home sales slumped 5.6 percent, exceeding all estimates in a Bloomberg survey of economists and the biggest drop in more than three years, after a 1.6 percent decrease in August, the National Association of Realtors reported today in Washington. The index fell to the lowest level this year.
Read the full article here.
Fewer Americans than forecast signed contracts to buy previously owned homes in September, the fourth straight month of declines, as rising mortgage rates slowed momentum in the housing market.
The index of pending home sales slumped 5.6 percent, exceeding all estimates in a Bloomberg survey of economists and the biggest drop in more than three years, after a 1.6 percent decrease in August, the National Association of Realtors reported today in Washington. The index fell to the lowest level this year.
Read the full article here.