LOS ANGELES (MarketWatch) — A top Chinese central bank official suggested switching away from the U.S. dollar as a benchmark for the yuan’s foreign-exchange rate, switching instead to a basket of currencies, according to remarks published Thursday. In comments posted to the People’s Bank of China Web site, the central bank’s Deputy Gov. Hu Xiaolian […]
The Dodd-Frank financial regulation reform bill is now law. The bill is being touted as the most sweeping financial legislation since Glass-Steagall, but with 2300 pages of rules and proposals it’s hard to know exactly how it will play out in the market. Peter Schiff, president of EuroPacific Capital tells Tech ticker it will fail. […]
More and more Americans are afraid we’re heading for a double-dip recession. President Obama says our way out of our economic slump is to double American exports over the next five years. But China’s go-go economy is slowing down, while Europeans are announcing austerity programs from London to Athens and all points in-between. If the […]
LOS ALTOS, Calif. — No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves like Silicon Valley, CA. […]
In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011: First Wave: Expiration of 2001 and 2003 Tax Relief In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business […]
Posted by Neil Stevens Source for the unemployment figures: a spreadsheet taken yesterday from the Bureau of Labor Statistics website. Republican period: January 1995-December 2006. Democrat period: January 2007-June 2010. Click for a PDF:
Posted by Erick Erickson You remember Lanny Davis, right? He’s the nice guy you sometimes get confused with Leon Panetta because they both worked for Clinton and their names both start with “L”. But when Davis speaks and floats ideas, it is more than just your run of the mill Washington personality floating an idea. […]
The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC Monday. “Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in […]
By: Ellen Chang The price of houses in the United States will drop even more, says Barry Ritholtz, founder of Fusion IQ, the investment research firm. Current prices are still way too high because the decline didn’t reach the “fair value” level compared to rent and income levels, he told Yahoo Finance TechTicker. During the […]
I hope the White House is paying attention to the latest annual Congressional Budget Office Long-Term Budget Outlook, which offers a truly frightening picture of the scale of America’s national debt, with huge implications for the country’s future prosperity. According to the non-partisan CBO, “the federal government has been recording the largest budget deficits, as […]
