ON AIR NOW
Click to Play
Puerto Rico's governor, saying he needs to pull the island out of a "death spiral," has concluded that the commonwealth cannot pay its roughly $72 billion in debts, an admission that will probably have wide-reaching financial repercussions.
Puerto Rico on Monday released a report calling for concessions from the island's creditors in order to stave off a looming crash crunch and take steps toward achieving fiscal health.
The governor of Puerto Rico says the island commonwealth cannot pay its public debt, which totals more than $72 billion.
Backers of Boston's controversial bid to host the 2024 Olympic Games unveiled a revised plan for the Games on Monday that they said would run a $210 million operating surplus, addressing concerns the event would leave city taxpayers on the hook.
Contracts to purchase previously owned U.S. homes rose in May to a nine-year high, indicating recent strength in the real-estate industry will be sustained.
BlackRock Inc. is seeking government clearance to set up an internal program in which mutual funds that get hit with client redemptions could temporarily borrow money from sister funds that are flush with cash.
Treasury prices fell on Friday, driving yields to their highest level since September, as investors continued to watch lingering negotiations between Greece and its creditors while assessing strong economic data.
A relationship between the two variables makes sense, but needs to be framed in the proper context. Genuine economic (and population) growth should translate into more electricity consumption, as we have more activity and transactions taking place th
The head of the Chicago Teachers Union said Thursday that negotiations with school system officials have collapsed, just days before the contract for nation's third-largest school district is set to expire.
- Former U.S. Congressman blasts Fed's role in markets - Gives scathing analysis of modern economics and markets - Highlights complete disregard of economic fundamentals in investment decisions today
While we were distracted with the Confederate flag flap, Congress quietly forfeited our entire economic future via fast-track trade authority
In late June 1997, eighteen years ago, this part of the world felt pretty normal.
You may have heard that real estate is expensive in the Bay Area.
Looking at a long-term chart of the BLS' core CPI chart or the Fed's preferred inflation metric, the Core PCE, reveals that the US is patiently trudging below the Fed's goalseeked goal of roughly 2% inflation per year.
The United States and China urged each other on Wednesday to remove barriers to foreign investment, saying that business ties were vital to overall relations, although they appeared to achieve little beyond rhetoric at a high profile three-day meetin
Looking at a long-term chart of the BLS' core CPI chart or the Fed's preferred inflation metric, the Core PCE, reveals that the US is patiently trudging below the Fed's goalseeked goal of roughly 2% inflation per year.
Against expectations of a 2.0 mm bbl inventory draw, DOE reports a substantial 4.93mm bbl draw (double last week's draw) extending the streak of inventory drawdowns to 8 weeks.
A weaker oil price hasn't ignited US household spending on a scale that economists had forecast, but the latest revision to GDP shows concern over the death of consumer has been overdone.
The problems we face today come from an attitude that there is such a thing as a "free lunch."
I suspect that if Puerto Rico was indeed freed from the "commonwealth" scenario and became free to do business without the watchful eye of the USA then it could manifest an economic boom.
I return to a theme that apparently only I ever talk about: the economic meaning of the phrase, "international capital flows."
Trends suggest the market is gaining momentum along with the broader housing industry
A gauge of U.S. business investment spending plans rose in May in a tentative sign of stabilization in the manufacturing sector, which has been weak since the late summer of 2014.
The Agriculture Department program, which seizes excess raisins from producers in order to prop up market prices during bumper crop years, amounted to an unconstitutional government "taking." But they limited their verdict to raisins, lest
I must admit I was appalled to hear of treasury secretary Jack Lew's decision last week to demote Alexander Hamilton from his featured position on the $10 bill. My reaction has been widely shared; see for example here, here, here, here, and here.
More and more insiders are warning of a potential systemic event. The first sign of real trouble concerned a number of investment legends choosing to close shop and return investors' capital.
What I find fascinating is our limited ability to make sense of trends unfolding in real time.
Today will go down in history as one of the worst times in history to be invested in the stock market. Virtually no one believes this statement.
Throughout the prolonged showdown between Greece and its creditors, the Obama administration has largely sat on the sidelines, issuing the occasional warning about the potential economic impact of a default.
We all know it is only a matter of time until the music stops.
