Word: marketic
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...need for stricter control of the Puer industry became clear two years ago, when the Puer market went on a destabilizing roller-coaster ride. Some Chinese buy tea as an investment, much like Europeans buy wines. In the early part of the decade, thousands of cash-rich urbanites poured their savings into the Puer, causing prices to double, then triple. "People were buying anything," says David Lee Hoffman, a California collector. By 2007, the finest aged Puer was - quite literally - worth its weight in gold. As demand soared, however, quality suffered, fakes flooded the market and prices fell...
...Experts also have doubts that Chinese regulators can get enough control over the Puer market to build a premier brand. Beijing's standards only apply to domestic producers; competitors in Vietnam, Sri Lanka and Burma can continue to grow and sell their own "Puer" tea. Hoffman, the collector, predicts that fakes will persist and urges caution. "This has always been a buyer-beware market, and it will always be thus," he says.(Read "Will China's New Food-Safety Laws Work...
...pictures of the 1929 stock-market crash...
...many modified mortgages still go south, just delaying the inevitable. But in cases like Miami Gardens, says Milligan's lawyer, Miami real estate attorney Rashmi Airan-Pace, lenders need to realize that as foreclosures mount and infect neighborhoods, their chances of auctioning those houses dim significantly. "Given what fair market value of these homes has become today," Airan-Pace says, "they especially need to change their mind-set about reducing principal," which she complains too few are willing to consider...
...Great Recession has not become another Great Depression - the markets have rebounded, and Bernanke declared last week that the worst of the downturn appears to be over - so Obama really had no choice but to reappoint Bernanke, even though White House economic adviser Lawrence Summers has yearned for the job. The markets like stability, and they really like Bernanke. And Obama might have done the same thing even if he did have a choice. Bernanke hasn't been flawless - he was slow to grasp the crisis and start yanking interest rates down toward zero, and market watchers will forever second...