Investors worried that inflation and financial market turmoil will wipe out the value of their cash have poured money into gold over the past decade. Prices have gained almost 500 percent since 2001 compared to a 12 percent increase in MSCI’s world equity index. The card can also be used as an alternative method of […]
Its not even summer yet and gasoline prices have risen above $5 for a gallon of premium gas at a Shell station in Los Angeles, California. Wholesale gasoline traded 13 cents higher in the market last Tuesday due to a Friday fire that idled BP Plc’s Cherry Point, Washington, refinery. The uncertainly in Iran is […]
Given the economic stagnation in the West, the tendency has been to regard Asia as the supplier of growth engines. Unfortunately China has reported a slowdown and now India is joining suit as the global crisis is depressing demands for Indian exports. Indian manufacturing and export has contracted for the first time since 2009 and […]
After working hard to compile a list of Obama’s rather questionable record of fiscal promises and actual executions, the gist of which is represented best by the violent clash between myth and realty in Christina Romer’s “The Job Impact of the American Recovery and Reinvestment Plan” whose epic failure is defined by one simple chart, […]
Financial market weirdness had to ruin a perfectly quiet start to Wednesday, look at this 5 minute drop, right off a cliff! Notably, there was just a major drop in the dollar (against the yen) today. This drop off a cliff is mainly because of the U.S Federal Reserves Q&A on Tuesday. The market tanked […]
If you listen to Ben Bernanke, Barack Obama and the mainstream media long enough, and if you didn’t know any better, you might be tempted to think that the economic crisis is long gone and that we are in the midst of a burgeoning economic recovery. Unfortunately, the truth is that the economic crisis is […]
The U.S. government is expected to hit the $14.294 trillion debt ceiling Monday, setting in motion an uncertain, 11-week political scramble to avoid a default. The Treasury Department plans to announce Monday it will stop issuing and reinvesting government securities in certain government pension plans, part of a series of steps designed to delay a […]
(Salt Lake City) Gold and Silver are now legal tender in Utah due to the rapidly fading dollar. Utah house voted today 47-26 to approve gold and silver as legal tender. The Utah bill would recognize Federal Gold and Silver coins as legal tender. The Utah bill would also set up a committee to study changes […]
Posted by Colin Barr– Think the debate about U.S. creditworthiness can’t get any sillier? Guess again. A week after Standard & Poor’s finally told us what we already knew, that the U.S. fiscal fiasco is in danger of spinning out of control, along comes Weiss Ratings of Jupiter, Fla., to reaffirm we can’t max out […]
CNBC is reporting the weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market. The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world’s predominant […]
