During the 1950s and 1960s, the United States was the richest and most envied country in the world. It was also unrivaled as the world’s manufacturing powerhouse. Americans proudly regarded their country is a model, and many people around the world agreed. Today, the US is still the world’s largest economy and pre-eminent military power, […]
Citi’s crack FX strategist Steve Englander reacts to Bernanke’s big speech where he slammed China, and concludes that Bernanke is committed to a lower dollar. Thus: You should be a seller. Here’s Englander: We would sell the dollar off this speech. It is hard enough stop a central bank from weakening its currency when it […]
Do you remember the days when getting elected to Congress or choosing to work for the government was referred to as “public service”? The idea was that you would be making a sacrifice for the greater good of the country. Well, those days are long gone. Today, getting elected to Congress or working for the […]
19 Facts About The Deindustrialization Of America That Will Blow Your Mind The United States is rapidly becoming the very first “post-industrial” nation on the globe. All great economic empires eventually become fat and lazy and squander the great wealth that their forefathers have left them, but the pace at which America is accomplishing this […]
Whether these changes are good or bad depends in part on how we adapt to them. But, ready or not, here they come. 1. The Post Office. Get ready to imagine a world without the post office. They are so deeply in financial trouble that there is probably no way to sustain it long term. […]
The conventional wisdom in Washington and in most of the rest of the world is that the roaring Chinese economy is going to pull the global economy out of recession and back into growth. It’s China’s turn, the theory goes, as American consumers — who propelled the last global boom with their borrowing and spending […]
Bucking the Federal Reserve’s efforts to push interest rates lower, investors are selling off U.S. government debt, driving rates in many cases to their highest levels in more than three months. The Fed’s $600 billion program to buy Treasury bonds began late last week and is kicking into high gear this week, with the central […]
The euro is facing an unprecedented crisis after another country indicated on Monday night that it was at a “high risk” of requiring an international bail-out. Portugal became the latest European nation to admit it was on the brink of seeking help from Brussels after Ireland confirmed it had begun preliminary talks over its debt […]
The latest move by Ben Bernanke and his Federal Reserve is rubbing a lot of people the wrong way. Bernanke plans to inject more liquidity into US markets in the latest round of quantitative easing, which is being dubbed QE2 (we’ll get to what it actually means in a minute). While there has been a […]
A strong sense of pessimism shrouded the start of an economic summit of rich and emerging economies Thursday, with President Barack Obama and fellow world leaders arriving in Seoul sharply divided over currency and trade policies. The Group of 20 summit, held for the first time in Asia, has become the centerpiece of international efforts […]
