Stocks finished near session lows in choppy trading Wednesday, with the Dow and S&P wiping out all of the previous session's gains led by financials, as investors continued to cautiously monitor developments in the European banks.
According to a recent story in the Wall Street Journal, a construction worker by the name of Gutierrez bought a Vallejo, California home in 2003 for $340,000, putting a measly five percent down and paying the remainder with a $322,700 loan, which res
That unmistakable chink spoke volumes to me. It reinforced my responsible behavior, and it encouraged me to keep saving. This is something I’ve carried with me for my entire life.
OK, now you’ve seen the size of the problem that Congress is wrestling with this week. But what can we, and our elected Reps, do about this, to prevent a future recurrence?
America is transforming itself, without forethought, debate, or pause, into a command economy.
Economists estimate the "multiplier" from government spending at about 1.5. That means for every $1 cut in government spending, about $1.5 dollars are taken out of the economy. The first year of cuts are therefore $375 billion to $400 billion in te
And unless the Fed can continue to baffle them with bullshit, by declaring that the recession is here, but it is really good for your 401(k), California's troubles are only set to escalate.
I have never seen such bearish language used out of the Fed. Words or phrases like inflation “moderated”, indicators suggest “deterioration”, spending has “flattened out”, growth is “considerably” lower and “downside” risks...
So we are left with a massive amount of debt, a massive amount of capital and labour that is unprofitable in the world we face, and a balance sheet of insufficient resources to keep the illusion alive.
The bond market is telling you that there will be no material economic growth for the next two years and that a deflationary depression is the economic path that will be followed.
"What apology is in order?" McCain asked. "It's not my fault that it was misunderstood."
Dow Jones Industrial Average
Now is the time for bold moves to save the economy, and maybe even the country.
European stocks lose after Asian slump, but US stocks rise at opening as US Federal Reserve huddles into meeting.
For the fifth consecutive month, NFIB’s monthly Small-Business Optimism Index fell, dropping 0.9 points in July—a larger decline than in each of the previous three months—and bringing the Index down to a disappointing 89.9.
Stock market volatility is now so high that it’s reached the level that occurred right after the 9/11 terrorist attack (see Figure 1) – a period of incredible political and economy uncertainty.
American International Group Inc., the bailed-out insurer, sued Bank of America Corp. over $10 billion in losses on mortgage-bond investments. The bank dropped 20.3 percent in New York trading.
Ruin will thunder through the financial system like winged death.
That's a liquidity trap: those with cash and the ability to borrow have no desire to either spend or invest in new employees or business assets. Their cash (liquidity) is "trapped" in the sense they have no desire or need to spend it or invest it.
After being down 634 points today the DOW futures are down 264 more overnight at this point, or approximately 900 points in less than 24 hours.
Which is why we wonder, should the ongoing rout accelerate, to an extent driven by the decimation in the Korean Kospi, down -9.5% at last check, but also due to increasing worries the Fed may not announce QE3 tomorrow...
From South Park Episode - 'Margaritaville' - Randy steps forward with a solution to fix the desperate financial state everyone finds themselves in.
The Dow Jones industrials fell 634.76 points. It was the sixth worst point decline for the Dow in the last 112 years.... Investors desperately looked for safe places to put their money and settled on U.S. government debt - even though it was
The U.S. stock market joined a sell-off around the world Monday in the first trading since Standard & Poor's downgraded American debt and gave investors another reason to be anxious.
Gold vaulted above $1,700 an ounce for the first time on Monday, after the respective pledges by the G7 and the European Central Bank to quell the turbulence in the financial markets did nothing to put investors at ease. Traders said the ECB had m
When George W. Bush took up residence in the White House in January 2001, total U.S. debt stood at $5.95 trillion. Last week it was $14.3 trillion, with $2.4 trillion freshly authorized by Congress Tuesday. Ten years and $8.35 trillion later, what
The reason the soverign debt issues in Europe will not go away is the same reason that the US economy's woes cannot be fixed – because alternative media is opening people's eyes to the nature of the world's central bank controlled...
The European Central Bank signaled it would invest in European bond markets in a bid to prop up hard-hit Italy and Spain, Europe’s fourth- and fifth-largest economies, which are in the midst of a worsening financial crisis.
Standard & Poor's US debt downgrade was a wake-up call for the world, a commentary in a top Chinese state newspaper said, adding that Asian exporters faced special risks.