The House early Thursday passed a $2.8 trillion budget blueprint. The vote in the late-night session fell almost entirely along party lines, with the final vote tally 218-210. Casting ballots against the GOP package were all House Democrats; 12
U.S. core producer prices barely budged last month and housing starts dropped, easing inflation concerns, but a strong gain in industrial output suggested price risks have yet to fully recede. The U.S. Labor Department said on Tuesday overall prod
The International Monetary Fund is in behind-the-scenes talks with the US, China and other major powers to arrange a series of top-level meetings about tackling imbalances in the global economy, as the dollar sell-off reverberates through financial m
Gallatin implemented strategies that reduced the massive debt accrued during preceding administrations. He moved to repeal all internal taxation, sharply curtailed federal spending and changed how the Treasury itemized its expenditures for Congressio
Massachusetts is considering a law to give workers the nation's most generous paid leave policy. Pay workers their full salary (up to $750 a week) for up to 12 weeks to care for newborns or ill family members, comes just weeks after Republican Go
Business owners Lilia Molina and husband Norbert Delgado had been thinking for months about leaving the U.S. territory of Puerto Rico. But as island politicos feuded over a budget crunch that has kept schools and government offices closed since May 1
Fasten your seatbelts. Stock investors could be in for a bumpy ride next week with widely watched inflation gauges likely to dictate the market's direction. Worries about inflation and rising interest rates drove stocks down sharply late th
Consumer optimism buckled in May to its lowest since Hurricane Katrina, a survey showed, hit by $3 per gallon gasoline, rising mortgage interest rates and a souring political climate. "The sharp decline reflects the impact of rising gasoline pri
Organizations representing thousands of attorneys are challenging the nation's tough new bankruptcy law, saying it illegally restricts the advice lawyers can give and makes it harder for clients to navigate the bankruptcy system.
The U.S. trade deficit unexpectedly declined in March for a second consecutive month, something that hasn't happened in more than two years. The improvement reflected record U.S. exports and a big drop in the country's foreign oil bill.
The US government attacked China for making "far too little progress" in reforming its exchange rate, but pulled back from accusing the booming country of manipulating its currency.
"'Do the Drop!' The best way to introduce the Liberty Dollar is to drop the Silver Liberty in someone's hand. Do not hand it to the cashier, Drop it! Hold the one ounce Silver Liberty a couple inches above the outreached palm and dro
Bernanke leaves no doubt that he thinks the public has to have faith that the Fed is serious about controlling inflation. He repeatedly emphasizes the importance of conveying to the public that they are serious about inflation, and he has thought of
U.S. stocks tumbled on Thursday, suffering their biggest drop in almost four months, as a jump in crude oil and gold prices stoked worries about inflation, consumer spending and more interest-rate hikes from the Federal Reserve.
The Federal Reserve boosted Americans' borrowing costs for the 16th time in a row this time to the highest level in 5 years but suggested what happens next will be much less predictable. Chairman Ben Bernanke and his Fed colleagues left their
Campaigns to raise the minimum wage are gaining ground in a dozen states during an election year in which some political activists say the issue could help swell Democratic voter turnout. Seven state legislatures have raised the wage this year, an
Gold prices surged to a new quarter-century high of $700 an ounce Tuesday as funds bought into the market, driven by tension between the United States and Iran and expectations of a pause in interest rate hikes.
The US Federal Reserve is set to raise interest rates on Wednesday to the highest level in five years and may use a post-meeting statement to open the door to a pause after 16, well-telegraphed hikes.
The dollar fell to year-lows against the euro and sterling and a seven-month trough against the yen on market expectations that the Federal Reserve will soon end its cycle of tightening US interest rates, analysts said.
Gold scaled a new 25-year high on Monday, supported by a weak dollar and active buying by Japanese investors returning after a holiday, while platinum set a fresh record on bullish sentiment. The next big target of $700 an ounce in the coming
For 2 weeks, the dollar has been hammered as foreign buyers shun the US currency. As a result, the Canadian "loonie" is at its highest point in 30 years. The British pound is at its uppermost level since last September. Even the closely man
Jack Caffrey, equities strategist for JPMorgan Private Bank said, "It's almost a hope-for-relief rally instead of a 'the Fed is done, things are slowing down' mentality."
A New Hong Kong in Sonora State, Mexico? - International Society for Individual Liberty world Conference in Puerto Vallarta, Mexico
The Senate neared completion of an emergency spending bill to fund the war in Iraq and to continue hurricane recovery efforts, ignoring White House objections that it was loaded with unnecessary projects [pork].
Should anyone doubt that the Republicans have become the sworn enemies of the forces of supply and demand, as well as free enterprise, the following statements should change the minds of most skeptics:
The dollar has embarked on a big decline that will see it fall against all leading currencies, according to analysts. The plunge is being prompted by America’s $800 billion current-account deficit, they say. The dollar has been under pressure follo
The much heralded John Kenneth Galbraith, the Harvard professor who won worldwide renown as a Keynesian or socialist economist [as if there is a difference] died at age 97 of natural causes.
The U.S. economy grew at its strongest rate in 2-1/2 years during the first quarter on strong spending and investment and a key gauge of price rises moderated from the fourth quarter, the Commerce Department said.
Sen. Charles Schumer (D-NY) proposed considering the breakup of oil firms. “We also have to reexamine whether having only a handful of giant oil companies can coexist with the needs of the American consumer and a rational energy policy in this countr
A petrodollar is a dollar earned by a country through the sale of oil. In 1972-74 the US government concluded a series of agreements with Saudi Arabia to support the power of the House of Saud in exchange for accepting only US dollars for its oil.