FORT LEE, N.J., April 28, 2011 /PRNewswire/ – Federal Reserve Chairman Ben Bernanke on Wednesday held his first press conference in history. The press conference took place shortly after the Fed announced its decision to leave the Fed Funds Rate at a record low of 0% to 0.25%, where it has been for an unprecedented 28 months. The U.S. economy [...]
It may already be happening. Recently released US Treasury data shows China has been actively reducing its holdings of Treasury debt. China has cut its holdings by $100 billion over the past year to just $844 billion. China has been seeking new ways to recycle its trade surplus and hold back any rise in the [...]
SNAFU: Situation Normal, All F%@#3D Up The panel discussed how today we accept things that just 10 years ago we would all have found reprehensible, ponders what we might accept in another decade, and what we can all do to change this de-sensitization. Use the player below to listen the archive of the show. Listen [...]
It’s hard to overstate the concern that American families have regarding the economy, but one thing we all need to pay more attention to is the value of the U.S dollar. Imagine, if you will, what would happen to your families’ savings should the U.S. dollar truly crash, especially when unemployment and underemployment are both [...]
The proverbial chickens.. have come home to poop – or roost if you prefer. The world’s largest bond investment fund, Pimco’s Total Return Fund removed U.S. government debt from its holdings: Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., eliminated government-related debt from his flagship fund last month as the [...]
AURORA, Ill., Jan. 18, 2011 /PRNewswire/ — AAA Chicago’s most recent Fuel Gauge Report estimates that in Illinois, regular unleaded gasoline has increased $.16 during the past month, forecasting an average cost of $3.22 per gallon for the month of January, which is $.38 higher per gallon than last year. In northern Indiana, gas prices [...]
ARLINGTON, Va., Jan. 3, 2011 /PRNewswire-USNewswire/ — The recovery will pick up steam in 2011, but growth will remain moderate, according to the consensus forecast of 25 economists surveyed for legal and business publisher BNA’s annual outlook on the U.S. and international economy. Both inflation and the Federal Reserve’s target interest rate are expected to remain low. A [...]
The average price of a gallon of gasoline is $2.87, a number which will continue to climb as the Federal Reserve’s “quantitative easing” scheme lowers the value of the dollar. That’s a 50% increase from only two years ago; in the weeks following the presidential election, the average price was about a dollar lower. But [...]
You’d think Paul Volcker was in the driver’s seat again. While he’s no longer running the Fed, perhaps his leadership as the President’s chief economic advisor is giving him more of a voice than any of us want. In his turn at the Fed, it was Volcker that pushed for the massive and crippling inflation [...]
Interpreting the latest unemployment report could make one’s head spin, but there is valuable information in it other than the tragic 10.2% unemployment rate and the fact that the economy has shed an additional 190,000 jobs in the last month. Yahoo news points at a separate survey that shows 558,000 more people were unemployed in [...]
In August, we watched as sales of existing homes drop by 2.7%. Experts were expecting an increase. Due to the fact that 30% of all home sales this year were by first-time home buyers, the National Association of Realtors has begun a campaign designed to influence congress to put more taxpayer subsidies into the housing market.
Members of Congress, the President, and anyone else with an opinion is still blaming the recession on greedy corporations. This article isn’t about rehashing the debate, but… what about the greedy government elitists? What about us? The government needs us to borrow more to feed the partial-reserve economy system we have. To get us to [...]
On September 18th, the FDIC announced two more bank closures that would require funds from the insurance corporation in-order-to protect depositor’s money. This month alone there have been ten bank failures and the month isn’t over yet. There were fifteen closures in August and at the current pace, it’s entirely possible that September will have [...]
