Citibank and Goldman reported this morning and both put up what looked at first blush to be better-than-expected numbers.But both sold off in the premarket. Why? Put more generally, "there ain't no such thing as a free lunch", or TANSTAAFL. The "st
These charts are interesting, and as grim as they are, they can’t hold a candle to how grim it really is. These are using the official bogus data! Show us the line that includes the millions of people who have dropped out the bottom and aren’t counte
The dollar is tumbling to its lowest level in more than a year against the euro. CHARLES GOYETTE, author of 'THE DOLLAR MELTDOWN,' and Mike O'Rourke, of BTIG, share their outlooks on the dollar.
Professor Peter Klein, University of Michigan, talks about the return of an ugly monster that refuses to die.
It pays to be President Obama's favorite banker. Both Bear Stearns and Washington Mutual were gifted to JPMorgan by the United States government, and the results are showing.
Charles Payne explains the redistribution of wealth that is occurring right now in our country through the “stimulus bill”, leading to the disbursement of most of stimulus funds right before the 2010 elections. Just remember $105 TRILLION DOLLARS of
Every generation of Americans should live better than its predecessor. That's Americans' core definition of economic "progress." But for today's young, it may be a mirage. Higher health spending, increasing energy prices and stretched governments at
The big question mark at the end of August is when the U.S. International Reserve Position increased by almost 50%. The reason for this: a near quintupling of S.D.R. holdings on the U.S. balance sheet in the span of one week - from August 21 to Augus
One should not read too much into the rhetoric that is likely to come out of the upcoming debate over the debt limit, since much of it will be meant for public consumption but will have little bearing on other policy debates that follow
Hyperinflation? Meltdown? Devaluation? New World Order? Not trading oil in dollars? China not buying US Dollars anymore? What do these things all have to do with you?
Now, however, ObamaCare won’t be nearly enough to undo deficit spending, and Aaron and Sawhill pump for a value-added tax (VAT) on top of all the other new and higher taxes Americans will pay:
As the consumer pricing index continues to fall, the State of Colorado will become the first state since 1938 to lower it's minimum wage.
Called sponsored or "naked" access, the setup allows high-speed firms and other outfits to trade directly on exchanges using powerful computers without the exchanges or regulators knowing who is making the trades.
The dollar continues to rattle around at key support. If it breaks then our import-based economy will be decimated. Oil will skyrocket and so will input costs to American business. Bye-bye profits - and businesses.
The Federal Reserve Bank of New York bought $2.949 billion in Treasurys maturing from 2016 to 2019 on Tuesday,
Eight months after enacting a massive economic stimulus package, the Obama administration is facing rising pressure from some congressional Democrats to move more aggressively to jump-start the moribund job market and try to spur a housing recovery.
This is a collection of easy-to-understand picture-reports to increase awareness of certain threats to the economic future & freedom of families and their children, compared to the past - - on family income, debt, savings, government spending, educatEntered By:
The political lobby for protectionism is naturally capricious. Thus we have had the economic insanity of the lumber battle which was paid for by American home buyers. It cost the American lumber industry little more than chump change to keep the war
Welcome to the $8/hour job recovery. You can get an engineer, a pilot, a software programmer, an agriculturalist, just about anything or anybody for $8/hour these days. -ED
This is the story we’ve been telling here at The Daily Reckoning for two years. Americans have to cut back. They are out of time and out of money. Ten years closer to retirement than they were in before the tech stock crash, Baby Boomers are not a pe
Asked why taxpayers should be forced to foot the bill to bail out banks, brokerages, insurance companies and other institutions that had made bad bets, Mr. Obama responded, “You know, if my neighbor’s house is on fire, even if they were smoking in t
Given the Fed's extremely easy policies, runaway government spending and shortages of many commodities, inflation pressures are building and destined to get muc
Another insult to long suffering Chicago Cubs fans.
In this fascinating speech, economist Thomas Woods explains why you've never heard of the Depression of 1920. Because it was over within a year, as the government let it run its course.
At the FT, economist Thomas Palley goes metaphor crazy arguing that we're heading for a double dip, and that the possibility of a Second Great Depression should not be written off.
A recent piece by Barclay's Steven Englander demonstrates how everybody and the kitchen sink is soundly amused by Geithner's call for a strong dollar. "The IMF Composition of Official Foreign Exchange Reserves data suggest that central banks are doin
A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency's future.
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.