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
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...
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
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
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
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...