China's central bank on Sunday poured cold water on the idea that the country's economy can decouple from the United States. China's exports will be badly hit if U.S. consumption weakens, Zhang Tao, deputy head of the international dep
Two business groups urged the U.S. Securities and Exchange Commission on Friday not to reinstate a Web tool aimed at helping investors identify companies with investments in countries the United States designates as "sponsors of terrorism."
Last May, a Saudi Arabian conglomerate bought a Massachusetts plastics maker. In November, a French company established a new factory in Adrian, Mich., adding 189 automotive jobs to an area accustomed to layoffs.
California and other states will have to go back to the well again and again to trim budgets as state revenues from sales tax, property tax, and income tax fails to hit expected targets.
The pent up deflationary forces in the U.S. are such that Deflation American Style figures to be far worse than Deflation Japanese Style.
This project is located right between the new City Center and the Ballagio- as good a location as one can get on the Strip.
The thing is, the writedowns aren't finished. Several firms retain significant exposure to subprime, such as Citigroup, which still has $37 billion in subprime exposure.
General Motors Corp. will offer retirement incentives to 46,000 of its hourly workers next month as part of a plan to cut labor coasts, Chairman and Chief Executive Officer Rick Wagoner said....
The effects of tax rebates will be temporary and will not solve the real problem: too much government intervention in the economy. We will see a temporary, one time increase in consumer spending, but no wealth will be created. Consumer spending is
In the grand scheme of things, $100-$150 billion spread evenly is irrelevant. Such "stimulus" is doomed from the start.
Although a record 26,386 foreclosures were filed in the metro area last year, he noted that there are far more homes in the metro area than 20 years ago.
Sales volume plummeted 43.2 percent to a record low in December - the 35th consecutive month of decreasing sales, said DataQuick Information Systems, a La Jolla (San Diego County) research firm.
"There is a section of the population here that over-extended themselves to buy here and then keep up the facade of wealth," said a broker. "In the next year or so they'll be forced out in dribs and drabs."
[If we can just get through the next election.] President George W. Bush told lawmakers on Thursday he wants tax rebates for families and breaks for businesses in a rescue plan for the struggling U.S. economy that could total up to $150 billion.
Growing conviction that the U.S. is in a recession sent stocks plunging in their worst three-day decline since 2002. Exxon Mobil Corp., General Electric Co. and Bank of America Corp. led the drop after the Federal Reserve said manufacturing in the
If you want to have a better understanding of the enormous danger facing U.S. banking and real estate, then I advise you to take a close look at this chart.
The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, fell sharply from a revised reading of -1.6 in December to -20.9, its lowest reading since Oct. 2001.
Bush needs the Saudis to charge us big bucks for oil. The Saudis can’t lend the US Treasury and Citibank hundreds of billions of US dollars unless they first get these US dollars from the US.
Single-family authorizations in December were at a rate of 692,000; this is 10.1 percent below the November figure of 770,000.
Wholesale inflation shot up in 2007 by the largest amount in 26 years even though falling gasoline costs allowed price pressures to moderate in December. [It shot up a hell of a lot more than 6.3% last year!]
Bad bets on mortgages led to a $10 billion loss for Citigroup Inc. in the final quarter of last year, the largest in its 196-year history. As a new wave of weak economic data intensified fears of a recession, the nation's biggest bank also cut jo
A leaked client note by HSBC added fresh fuel to the rate excitement, suggesting that Fed may now have to slash a full percentage point by month's end to fend off a serious downturn.
Last month's sales were by far the lowest for any December in DataQuick's statistics, which go back to 1988. The sales count was 23.5 percent below the previous December low in 1990.
Last month's sales were by far the lowest for any December in DataQuick's statistics, which go back to 1988. The sales count was 23.5 percent below the previous Decemb er low in 1990.
Josh sez, "The folks at BMC (Black Mustang Club) automotive forum wanted to put together a calendar featuring members' cars, and print it through CafePress. Photos were submitted, the layout was set, and... CafePress notifies the site admin
The Fed chief and Governor Frederic Mishkin unveiled a new strategy, saying they favor greater "insurance'' against the prospect of an economic downturn. That's a break from basing policy on central bank forecasts, which anticipate a
I happen to be one of those people that thinks the US economy (and much of the world economy...) is currently running in an unsustainable fashion with expectations of infinite growth (growth every single year) on a finite planet financed by debt.
The high priestess of US monetarism - a revered figure at the Fed - says the central bank is itself the chief cause of the credit bubble, and now seems stunned as the consequences of its own actions engulf the financial system. "The new group at
Since it began to give credit ratings to nations in 1917, Moody's has rated the United States triple-A. U.S. Treasury bonds have been seen as the most secure investment on earth. When crises erupt, nervous money seeks out the world's grea
Congress is re-convening this coming week and I would like to take this opportunity to give my legislative forecast for the coming year. Here are a few things we can expect to see from Washington.