Investors are making a big mistake if they assume that Greece is too small and unimportant to matter and that the rest of the developed world is somehow isolated from the turmoil. Greece is to sovereign debt what subprime was to private debt. It’s the possible start of a vast tsunami that threatens to overwhelm the global economic and financial system.
The average cost of a home in the capital jumped 5% to £427,987 pounds, the most since records began in 2002, the owner of the UK’s biggest property website said in a statement. Average asking prices in England and Wales increased by 3.2%, the most since April 2007.
China’s economy (as measured by GDP) doubled over the past twenty years… twice. But opinions on how it will proceed from here differ greatly. Legendary investors like Jim Rogers foresee a Middle Kingdom set to rule the world. Others see China as the mother of all bubbles.