The Federal Reserve announced Wednesday it would start to taper its aggressive bond-buying program to $75 billion a month beginning in January, propelling the market to a record close. The FOMC also announced it would lower its monthly long-term Treasury bond purchases to $40 billion and mortgage-backed securities to $35 billion a month, both reductions […]
With market participants cheering a new all-time high in the Dow Jones, one man is predicting this “misplaced optimism” will lead to a “worse collapse than in 2008.” Peter Schiff, the eternal provocateur, suggests the Fed’s extraordinary support of bond and housing markets will lead to a market crash as interest rates rise, leaving banks, […]
The mortgage industry has been crying foul over rates going up a .25 % or 3/8thover the last month. Well hang on, rates are headed to 5%! No they aren’t, Oh Yes they are! Think of things this way, they are buying $45 billion a month and the total cut for the year from sequestration […]
The Obama administration on sill on the same old path said China isn’t a currency manipulator and made the claim that under U.S. law they okay, at the same time they claimed the yuan “remains significantly undervalued” and needs to rise further. The Federal Reserve and Obama refuse to acknowledge they ate currency manipulators. Feds said China “has substantially reduced the […]
Stocks tumbled across the board Wednesday in the wake of President Barack Obama’s re-election, triggered by worries over the looming “fiscal cliff” and as fears over Europe’s economy reemerged. “I don’t think there’s a long-term market reaction to the presidential election itself—it’s now how quickly we can focus on the ‘fiscal cliff’ and coming up […]
The stock market rose Wednesday in anticipation of Federal Reserve Board Chairman Ben Bernanke’s remarks Thursday. Traders sold Treasury bonds and bought stocks, hoping Bernanke would announce a new monetary stimulus. They were sorely disappointed. Speaking to the Joint Economic Committee of Congress, Bernanke emphasized that the Fed has America’s monetary house in order: Inflation […]
One of the most important steps that we could take to bring prosperity back to America would be to nationalize the Federal Reserve. Doing so would allow the federal government to quit borrowing money, dramatically reduce taxes and eventually pay off the entire U.S. national debt. Instead of inheriting the largest debt in the history […]
U.S. unemployment rates may officially be hovering around 9 percent but in reality, they’re up near the 20 percent levels around the time of the Great Depression, maybe even higher, economist and author Mark Skousen told Newsmax in an exclusive interview. Unemployment rates measure the number of people in the workforce looking for jobs. But […]
Federal Reserve Chairman Ben Bernanke is due to deliver the Semiannual Monetary Policy Report to Congress today before the House Financial Services Committee. What will he say about unemployment, if anything at all? The stakes are high with Bernanke’s approval rating at an all-time low. The hearing starts at 10 a.m. The Senate Finance Committee […]
Mises Daily: People often ask me, “What do you think the government should do instead of QE inflation?” My stock answer is that the government should not try to fight the depression with government spending and cheap credit. Trying to stop the market from correcting the errors of the past only delays the consequences and […]
