The U.S. dollar continued to tumble against most Asian currencies Thursday, prompting a wave of foreign-exchange intervention by central banks in South Korea, Taiwan, the Philippines and Thailand seeking to limit damage to their export industries.
One participant says its like 3 or 4 welfare offices at one time! Scuffles erupted as several thousand Detroit residents jockeyed, pushed and shoved Wednesday to get free money being offered to only 3,500 of the city's recently or soon to be homeless
Today, Gary Gensler, chairman of the Commodities Futures Trading Commission (an agency with responsibility for overseeing derivatives trades) - and one of the main people who blocked regulation of CDS in the past - warned Congress about this issue
The Fourth Turning is an amazingly prescient book Neil Howe wrote with the late William Strauss in 1997. The work, which describes generational archetypes and the cyclical patterns created by these archetypes, has been an eye-opener to anyone able to
Yesterday was another exciting day on Wall Street. The Dow rose 131 points…and gold shot up $25 to a new record, $1043.Investors must be pondering the future.
What will the future look like? No one knows.
Can Obama, Washington, DC & Congress fix US Economic crisis, recession, Dollar & economy? Will Obamas bank bailout, stimulus, Republicans, Democrats, Ron Paul fix recession? Read The Dollar Meltdown, Charles Goyette.
The U.S. government spent a record $1.4 trillion more than it collected in the fiscal year ended September 30, congressional analysts said. Bank bailouts, stimulus spending and declining tax revenues due to a deep recession led the government to post
“The selling is not materialising,” said James Steel, echoing a view held by other analysts and traders. Jon Spall, gold specialist at Barclays Capital in London, added: “No one is saying ‘this is enough, let’s sell’.”
Thousands hoping to get applications for federal help on rent and utility bills turned Cobo Center into a chaotic scene today. They came by foot, wheelchair, bicycle and car. About six left by ambulance after tensions rose and people were trampled.
Some of the world's biggest companies and U.S. market watchdogs locked horns on legislation to regulate the opaque $450 trillion private swaps market. Large companies that use derivatives to hedge their risk and federal market regulators pushe
U.S. financial advisors are due for upheaval as baby boomers, controlling $10 trillion in assets, reach retirement age and shift their investment priorities. Baby boomers will move the industry's main client goal from one from accumulation -- investi
"Everyone is going to have to come to terms with the fact that we are going to save more in the United States," Geithner said. "If the U.S. starts saving more, that changes the whole world's economic reality," he said. Geithner said China was already
When Mish went after Schiff I guess he put himself on the firing line. Denninger has been getting hotter under the collar for a while now and now Mish is in his cross-hairs. Karl thinks we're all hard-money morons.
Do we even have to tell you that this will be a disaster? For some time now, the government owned mortgage finance companies known as Fannie Mae and Freddie Mac have been secretly making commitments to purchase loans from Provident Funding Associates
David Brooks might believe it's Mr. Bentham and Mr. Hume who represent the choices we face in this nation on issue after issue. I believe it's Mr. Hoover and Jim.
Banks in the U.S. "are slow" to take losses on their commercial real-estate loans being battered by slumping property values and rental payments, according to a Federal Reserve presentation to banking regulators last month.
Greg Mankiw continues to trace the unemployment rate (see chart) as predicted by the original calculations of the effect of the fiscal stimulus as against no-stimulus. My advanced “eye-ball” extrapolations suggest that we are following the same path
More proof that the commercial real estate crash is coming: hotel foreclosures in California have more than tripled in the first nine months of this year,
The big question on the domestic front right now is whether President Obama understands the gravity of the employment crisis facing the country. Does he get it? The signals coming out of the White House have not been encouraging.
Rutgers: Erasing this deficit will require substantial and sustained employment growth. Even if the nation could add 2.15 million private-sector jobs per year starting in January 2010, it would need to maintain this pace for more than 7 straight y
A recently declassified, formerly Confidential, 30 year old memo prepared by Henry Owen for President Jimmy Carter's eyes only, highlights the perils facing the United States if oil were to be priced in SDRs instead of dollars, a topic which is all t
Lots of speculation today about the upcoming death of the U.S. currency, middle class, and by implication, its entire economy, as gold hits all time highs. Max Keiser joins the fray:
The National Retail Federation threw some cold water on the holiday:WASHINGTON--(BUSINESS WIRE)--The National Retail Federation today released its 2009 holiday forecast, projecting holiday retail industry sales to decline one percent this year to $43
Bass was one of the few fund managers that foresaw the subprime debacle and made billions shorting it.he thrust of the analysis boils down to this: Currency Debasement.
In other words, the nine biggest banks were all insolvent in the 1980s.Virtually all of the largest U.S. banks gamble and speculate and then all go bankrupt. The money center banks gambled in Latin America and lost. They went bankrupt.
Take a look around the corner.
Millions of adjustable-rate mortgages are going to reset in the coming years, possibly to higher interest rates, creating the prospect of a new round of foreclosures.
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