Today is the anniversary of the stock market crash of 1987.
JIM ROGERS: Only 2 Things Can Save America
Regulators closed 2 small banks in Florida and one in Missouri, bringing to 46 the number of US bank failures this year. The Federal Deposit Insurance Corp. seized GulfSouth Private Bank and First East Side Savings Bank, both in Florida.
Oops... The second most widely held company after AAPL just destroyed the quarter for 165 hedge funds.
The largest US financial firms warned of dire consequences if Washington fails to head off year-end tax hikes and spending cuts, saying they could jolt the economy into recession and prompt a new and dangerous downgrade of the US credit rating.
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The time between today and the day the global debt collapse reaches our shores is finite.
Journalists, politicians and economists all seem to agree that the biggest economic issue currently worrying voters is unemployment.
New numbers support speculation that the shrinking print advertising industry will fall behind its fast-rising digital counterpart.
This is a story about a journey into darkness, but unlike Joseph Conrad’s Heart of Darkness, it is a true story about a real place, a place that is not a metaphor but a microcosm, a microcosm of the United States.
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Bain Capital is a product of the Great Deformation. It has garnered fabulous winnings through leveraged speculation in financial markets that are perverted and deformed by decades of money printing and Wall Street coddling by the Fed.
Elections are important, maybe even the cornerstone of a democracy; but sometimes voters are just too busy to listen to everything being said by the Obama or Romney camps. Thank heaven sound bites can sum up everything we think we need to know. He
Goldman Sachs's equity strategy team led by David Kostin are convinced that the S&P 500 will sink to 1,250 by the end of the year. This is down around 13 percent from current levels.
Stocks rallied on the tail of some bullish economic data.
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The largest 100 public pension funds have around $1.2 trillion of unfunded liabilities, about $300 billion above the nearly $900 billion they reported themselves. The pension systems reported a median funding level of 75.1 percent.
At 8:30 AM ET today, we got a perfect snapshot of what's happening in the US economy.
On one hand, you could let them all default. The problem is the criminal liabilities would drive the global and national leadership into factionalism that could turn violent, not to mention what such defaults would do to liquidity in the financial sy
This may seem only obliquely related to the political hurly-burly of the moment, but I think it’s connected.
The United States government reported a budget surplus for the final month of the 2012 fiscal year, but the tiny bump in revenues did not prevent the country's deficit from exceeding $1 trillion for the fourth year in a row.
After this morning's surprisingly positive jobless claims number was released, three things happened:
When it comes to explaining the problems with our economy, one of the hardest things to do is to get people to understand that we are living in an economic fantasy world that is completely and totally unsustainable.
I didn’t go looking for the kid. He found me. Of course, it stood to reason, with what’s been happening on Wall Street, that the children of Greenwich, Connecticut, must be taking a serious financial hit.
The Fed should stop paying interest on excess reserves, and if necessary should put a small interest penalty on excess reserves. This would encourage banks to stop sitting on all the money that has been injected into the system.
The stock market sell-off is gaining steam.
We're in the middle of watching Gluskin-Sheff economist David Rosenberg present a gloomy outlook for the economy at The Big Picture conference.
As class-warfare implicitly breaks out - trumpeted by our political leaders - it seems that there is another, much more relevant, trend that is occurring that strikes at the heart of our nation.
Buying a new car has always meant one thing: going into a dealership, finagling a price and driving something off the lot. Tesla Motors is turning that business model on its head with high-end retailers that have automotive dealership associations cr