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 […]
If you have a job that involves building homes, buying homes, selling homes or that is in any way related to the mortgage industry, you might want to start searching for alternate employment. Seriously. Interest rates are starting to rise dramatically, and mortgage lenders such as Bank of America, Wells Fargo and JPMorgan Chase are […]
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 […]
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 […]
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 […]
Top officials willfully concealed the true extent of the 2008-’09 bailouts from Congress and the public. We now have concrete evidence that Wall Street and Washington are running a secret government far removed from the democratic process. Through a freedom of information request by Bloomberg News, the public now has access to over 29,000 pages […]
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 […]
