A boom in exports and tax rebates to tens of millions of Americans helped bolster US economic growth to an annualized 1.9% during the second quarter, a government report showed. Although the economy improved, it still fell short of the 2.3% hoped for
ratings cut for General Motors Corp , Ford Motor Co and Chrysler Automotive LLC to "B-minus," or six levels below investment grade, from "B." It also cut to "B-minus" from "B" the finance arms of Ford, Chrysler
Starbucks slid to its first quarterly loss as a public company on Wednesday as charges related to its decision to close more than 650 cafés wiped out profits at the biggest US coffee shop chain.
The Coming Fall of the Empire's Dollar
While I have not read his book, these 2 passages go to the essence of the destructive nature of the political mindset: (1) "there can be little doubt that global warming is real and manmade;" and, (2) "[s]ometimes the duty of political
Apparently Arizonans aren’t the only one having difficulty selling their properties- the State of Arizona can’t unload them either:
Will Congress be looking at a "commercial bailout" next?
[so you know it's toast] The Bush administration expressed confidence the US would maintain its top-notch credit rating even as the government scrambles to find new ways of expanding debt sales to cope with soaring budget deficits.
Early in the morning and out of public view, the president signed it without fanfare in the Oval Office, adding his signature to a measure he once threatened to veto. The White House said his accomplices were Treasury Secretary Henry Paulson, Housing
The parent company of Bennigan’s, an Irish-themed bar and grill with about 200 sites across the country, filed for bankruptcy, a move that will put hundreds of employees out of work and leave many landlords with empty retail space during a painful ti
I have days – growing more frequent all the time – when I'm convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us.
These crackdowns by state and federal authorities are having their intended effect: They have combined with a sputtering economy to drive many immigrants out of the U.S., according to a forthcoming analysis by the Center for Immigration Studies.
Billion-dollar bankruptcies are at their highest in 5 years only half way through 2008, according to bankruptcy filing tracker BankruptcyData.com. A total of 7 US companies with more than a billion dollars in assets have filed for bankruptcy protecti
Home prices tumbled by the steepest rate ever. The Standard & Poor's/Case-Shiller 20-city index dropped by 15.8% in May compared with a year ago, a record decline since its inception in 2000. The 10-city index plunged 16.9%, its biggest decline i
Is your bank safe? Now you can find out.Entered By: Brock Lorber
Sober observers understand it to be the most corrupt legislative assembly in human history. To those characterizations of the United States Senate we must now add another, perhaps the final one: Gravedigger of the republic.
Thursday's gloomy report on June home sales from the National Association of Realtors provided the market a reality check and knocked the major averages back a couple of percent while slamming bank stocks with nearly a 10% loss on the day.
I found the charts at the end of the report particularly compelling -- they utterly demolish the calls for a real estate turnaround we heard last week from people who should know better.
This chart shows something that has gone vertical, something that is on a moon shot. If it were the GDP of Argentina in pesos I would agree that the moon shot could go on and on. But it is not the Argentine economy in domestic money terms.
Followers of the Austrian school of economics have warned that unless Congress moved to end the implicit government guarantee of Fannie Mae and Freddie Mac, and disengage the US Government from the housing market, America would face a crisis in hous
...and convene a meeting on Monday on the economy and the financial system. The discussion will include former Federal Reserve Chairman Paul Volcker, former U.S. Treasury Secretary Robert Rubin and billionaire investor Warren Buffett, chairman of Ber
The White House has increased next year's deficit to nearly $490 billion, a record figure that will saddle the next president with deepening budget problems in his first year in office, being driven higher by the fiscal stimulus package passed by
"While these increases have not for the most part been passed on at the retail level, it is inevitable that they will be at some point. Car dealers and other retailers cannot continue to absorb rising costs at the wholesale level and not pass th
The National Australia Bank’s decision to write off 90 per cent of its US conduit loans will have dramatic repercussions around the world. Wall Street will be deeply shocked when they understand the repercussions of what NAB has done.
The dollar would collapse, along with our economy, and stock, bond and derivative markets would be devastated. The public would be left holding the bag, as happened in the days leading up to the Stock Market Crash of 1929 and the ensuing Great Depre
Andrew McCain, son of Republican presidential candidate John McCain, resigned today from the boards of directors of Silver State Bankcorp and Silver State Bank. [on a Saturday]
[So they use your money to cover their losses on their money they risked. Suckers!!!!] Homeowners who cannot afford their monthly payments can refinance into taxpayer-backed loans. The bill also offers your money to Fannie Mae and Freddie Mac
28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators. The banks, owned by Scottsdale-based First National Bank Holding Co., were scheduled to reopen
U.S. regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing bust and credit crunch.
In October 2003, Treasury Secretary John Snow told Congress "we need to be on guard'' against the "perception'' the government stood behind the stocks and bonds of Fannie Mae and Freddie Mac. His successor, Henry Paulson, ha