Oct. 12 (Bloomberg) -- Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.
Nestled in Ohio's Amish country, Belden's 124-year-old family owned brick company has thrived on the region's rich red clay and shale, and cheap energy from abundant coal. Which he's convinced a climate bill considered in Congress will end.
Job separations outpaced new hires in August. The report showed that roughly 4.27 million people quit, retired or were laid off in August. The data underscore the big hurdles still facing the economy. With wages stagnant and employers still cuttin
The dollar's position as the world's leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said."The US dollar is being hurt by the continued talk of a shift
We were promised one, you know.Dennis Kneale, Larry Kudlow, hell, name a "mouthpiece" on ToutTV or in the sell-side of Fraud Street and you'll find someone claiming that "the recession is over."All of this was not only cheered on by Washington but de
#4 The Failure of Obama's Economic Forecasters (Many high level visitors.)#6 Matt Taibbi Reports on Naked Short Selling, and Gets Caught with His Pants Down (This post was featured at Huffington Post) #7 Goldman Sachs No Longer a Bank Holding Comp
If you hold a Discover credit card, you're in luck -- the company has decided to freeze interest-rate hikes until a new credit card consumer protection bill takes effect in February.
"The next bubble that I see developing is in the United States government bond market. It is inconceivable to me that anybody would lend money to the U.S. government for 30 years in U.S. dollars at 3 to 6 percent interest rate," he said.
General Motors announced Friday it had finalized plans to sell control of its iconic Hummer brand to a Chinese heavy equipment maker, pending approval from the U.S. and Chinese governments. While Hummer will be controlled by two Chinese automaker
To say this is not orchestrated by China is professed ignorance. They warned the US not to monetize the federal debt. We did. They warned the US not to reappoint Bernanke as USFed Chairman. We did. Next is transformation with consequences. A new impo
The Dollar's depreciation is intentional. If economic activity picks up (it hasn't yet, despite what you're told) this will instantaneously echo into oil prices. How badly? The last time the dollar was here oil was at $150 and gas was aiming for $
Meanwhile, Americans’ per capita wealth has fallen from $172,000 in September from $212,000 two years earlier. And the UN reports that the quality of life in America has gone down too…from #5 on its list in 2000, it fell to #13 in 2007. No doubt it i
The president’s a real comedian. I’m not referring to the performance on Letterman as much as I am at the G20 Summit, where, humorously, he spoke of his determination to prevent and prohibit the “reckless risk-taking” that he asserts brought about th
even short steps to the cost of living doubling or more inside 3 years... HYPERINFLATION is widely accepted as a period of out of control price rises, doubling the cost of living inside three years.
"It's crazy. It's really just unbelievable," said Scott Pattison, executive director of the National Association of State Budget Officers, who called the states' revenue situations "close to unprecedented."
Billionaire investor Carl Ichan gets it. He sees the volatile nature of the current markets, and the potential for a double-dip recession.
Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout.
As President Barack Obama vowed in a Sept. 14 speech in New York’s Federal Hall to correct “reckless behavior and unchecked excess” on Wall Street, Mike McMahon and Barney Frank sat in the audience discussing how to ease proposed rules for the $592 t
Questions have been raised by some commenters on ZH recently whether Greenspan did what he did on purpose. Reading the article below and considering the fact that he is a devotee of Ayn Rand (who by the way was at his side when he was sworn in as cha
On October 6th, NewsHour with Jim Lehrer aired an episode covering the commercial real estate meltdown currently taking place in New York City. They so reasonably refer to the $3.5 trillion in outstanding commercial real estate debt as potentially th
Several bills would issue extra payments to the more than 50 million Social Security recipients, to make up for the lack of a cost-of-living increase next year. One bill would set the one-time payments at $250, matching the amount paid to Social Secu
The proposal includes a modification to the American Recovery and Reinvestment Act to allow families receiving the Supplemental Nutrition Assistance Program, or food stamps, to remain eligible while receiving an additional $25 per week in unemploymen
The U.S. taxpayers' investments in smaller banks are increasingly at risk. In a sign that more banks are under great pressure from the recession, 34 financial institutions did not pay their quarterly dividends in August to the Treasury on funds ob
Washington spent the week waiting for the Congressional Budget Office to roll in with its new cost estimates of the Senate health-care bill, and what a carnival. Behold: a new $829 billion entitlement that will subsidize insurance for tens of million
There is no reasonable prospect of the federal debt being paid down. Nor can anyone possibly believe that today’s government bonds can be paid except by issuing new bonds tomorrow.
Two federal regulators criticized parts of Rep. Barney Frank's proposal to overhaul financial regulation, saying it will let large companies escape restrictions on the types of financial products that contributed to last year's crisis.
Asian central banks intervened heavily in the currency markets on Thursday to stem the appreciation of their currencies against the US dollar amid fears that their exports could be losing ground against China.
For months I have been warning readers to pay close attention to what has been happening behind the scenes in the financial sector of the country. My sources have issued several clear warnings concerning the volatility of the markets and the precari
It’s the biggest mystery in global finance right now: Who conducted a sneak attack on the U.S. dollar this week? It began with a thinly sourced but highly explosive report Monday in a British newspaper: Arab oil sheiks are conspiring with the Russ