Venezuelan President Hugo Chavez ordered the central bank to repatriate $11 billion of gold reserves held in developed nations’ institutions such as the Bank of England as prices for the metal rise to a record.
Stocks were off their session lows after European markets closed, but the major averages were still sharply lower across the board following a handful of disappointing economic news and over continuing worries over the stability of euro zone banks.
A recent poll found that 64 percent of Americans would not be able to shoulder even an unexpected expense of $1,000. If a transmission on a car goes down or additional medical expenses hit, it will cost well over $1,000.
Stocks tumbled more than 4 percent on Thursday after data pointed to a stalled economy and as bank shares sank on a report regulators were scrutinizing the U.S. units of big European lenders.
The decline was broad as well as steep, with just a sma
The string of overshoots in estimates from the ISM Manufacturing Index to GDP to consumer sentiment indicates we are yet at another economic inflection point in which the economy is rolling over.
QE3 is being dragged, kicking and screaming, into the arena. As for the Philly Fed number below, there is no comment necessary.The 10 Year just took out 2.00% and is at 1.99%.
So if you thought the first Round of the Financial Crisis was bad, wait until you see the next one. Indeed, I fully expect that what’s coming is going to be 2008 on steroids. I’m talking about market crashes, civil unrest, riots, bank holidays and...
But Stansberry is even more bearish on the U.S., predicting the dollar will lose its reserve status and the Treasury "bubble" will burst. "There's a huge storm brewing," he says. "Everyone with any sense is leaving the [Treasury] market, including...
Eastman Kodak Co. (EK) may hold patents worth five times more than the business itself, making the 131-year-old camera company a target in the billion-dollar hunt for inventions used in mobile phones.
The American Institute of Architects (AIA) reported the July ABI score was 45.1 – the steepest decline in billings since February 2010 – after a reading of 46.3 the previous month. This score reflects a continued decrease in demand for...
Customers are still consolidating trips due to higher year-over-year gas prices. The swings in sales due to paycheck cycles remain pronounced, and our stores must staff and stock for the volatility both up-and-down.
40 years ago today former President Nixon was fighting inflation and overwhelming war costs and with that he ended the last remnants of the gold standard. At that time Nixon claimed he was defending the dollar but his critics said it was one of the m
Fitch Ratings confirmed the United States' top-notch credit rating and, in blatant disagreement with rival Standard & Poor's, gave a vote of confidence to Washington's deficit-reduction efforts. Fitch also kept a stable outlook on its U.S. AAA rating
Charles Goyette - In Studio - "The End Is Nigh" - New York Times bestselling author: "THE DOLLAR MELTDOWN" / Ryan Mott - LOVEvolutionary activist since 2007 was at the Iowa Straw Poll
Charles Goyette - In Studio - "The End Is Nigh" - New York Times bestselling author: "THE DOLLAR MELTDOWN" / Ryan Mott - LOVEvolutionary activist since 2007 was at the Iowa Straw Poll
The loss of market confidence in economic leadership in key countries like the United States and Europe coupled with a fragile economic recovery have pushed markets into a new danger zone...
As an economist Mr. Krugman, you need to begin to be intellectually honest with the general public, as the majority of our politicians seem to be struggling with that aspect of their public service. Continuing to support the obvious failed Keynesian
The problem is that everyone drank the Kool Aid and BofA didn’t take aggressive enough action, either on boosting its equity or shrinking its balance sheet, when times were better.
Politicians did not get much time to pat themselves on the back for supposedly rescuing the economy with the debt limit deal last week. The ink was barely dry when Standard & Poor's downgraded the US debt ratings anyway
Most people, including some very prominent economists are not thinking under the right conditions when coming to the conclusion that government must continue to spend to solve the current state of affairs. That it is the lack of enough spending, as o
Markets have certainly fallen quickly. It was only on 12,721 on July 21 and now we are looking at a low close of 11.269 after a 500-point PPT arrangement.
For decades, the U.S. economy was so dominant compared to the rest of the world that nobody really even challenged the status of the U.S. dollar as the reserve currency of the world.
This video shows Nixon announcing that the dollar will no longer be backed up by gold in international transactions. The alarming event sparked the political career of a doctor named Ron Paul.
What is surprising is not that the current outlook is deteriorating, but that for the first time, the future index finally cracked as the hopium has finally ran out: "The future general business conditions index fell twenty-four points to 8.7...