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Money & The Economy

News on Finance, Money, markets and the economy

Conference Board Leading Economic Index Increases

NEW YORK, Aug. 18, 2011 /PRNewswire/ —  The Conference Board Leading Economic Index® (LEI)for the U.S. increased 0.5 percent in July to 115.8 (2004 = 100), following a 0.3 percent increase in June, and a 0.7 percent increase in May. The largest positive contributions came from money supply, the interest rate spread, and average weekly initial claims for unemployment insurance (inverted). Says Ataman Ozyildirim, ...

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Mortgage Rates Continue to Fall

CHARLOTTE, N.C. Aug. 17, 2011 /PRNewswire/ — Average mortgage rates continued to fall week-over-week, once again marking the year’s lowest levels according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network. On August 16, average home loan rates offered by LendingTree network lenders were 4.35% (4.59% APR) for 30-year fixed mortgages, 3.59% ...

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Consumer Spending Index Rises in July

NEW YORK, Aug. 12, 2011 /PRNewswire/ — Bolstered by a rise in home prices and a slight improvement in real wages, the Deloitte Consumer Spending Index rose in July for the first time since January. The Index tracks consumer cash flow as an indicator of future consumer spending. “The housing market is showing multiple signs of stabilizing and that is helping to ...

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Cities Respond to S&P Statement on Local Government Ratings

WASHINGTON, Aug. 9, 2011 /PRNewswire-USNewswire/ — The National League of Cities issued the following statement in response to Standard & Poor’s statement on municipal credit ratings: Standard & Poor’s announcement that cities and states may keep their AAA bond ratings despite the recent downgrade of the U.S. federal government demonstrates the difference between U.S. federal debt and the municipal bond market. Unlike ...

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Food Futures Slide Monday

During the mini-crash of August 2011, stories of a market slide and gold going through the roof were prevalent. What no one seemed to be talking about is food futures. September wheat dropped twenty two and a half cents per bushel to $6.57 and corn dropped 0.17 to $6.86 a bushel. Oats and soybeans also took significant drops as the ...

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Consumer Confidence Slides for Second Straight Month

NEW YORK, Aug. 4, 2011 /PRNewswire/ – Although Congress and President Obama have agreed to raise the debt ceiling, a majority of Americans say that the debate has made them less confident in the nation’s economic recovery. More than half (54 percent) of Americans surveyed say that the debt ceiling debate has made them feel less confident in the economy, and 42 ...

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“As the Government Turns”

Social Security and Defense Held Hostage, Episode 75 The federal government is our alcoholic uncle addicted to power and money. He throws divisive words at the masses to distract us from the true issue…a bloated government. As political figures and their cohorts spend more money than most countries can produce, hard working Americans are left with the tab. The people ...

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Newest Victim of the Obama Recession – The Tooth Fairy

Visa inc. performed a survey on the current economic situation and discovered that no one, not even the tooth fairy is immune from the reaches of a poorly performing economy. The survey, released on August 3rd, found that the tooth fairy left an average of $2.60 per tooth in 2011 while $3 per tooth was the going price in 2010. ...

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Funded Status of U.S. Pensions Falls to 83.6 Percent in June

BOSTON, Aug. 3, 2011 /PRNewswire/ — The funded status of the typical U.S. corporate pension plan in July fell 4.9 percentage points to 83.6 percent, the worst level since the beginning of the year and the lowest funded status since November 2010, according to monthly statistics published by BNY Mellon Asset Management. Pension plans were hit by both increasing liabilities and falling assets, ...

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Consumer Reports Taste Tests the Best Cups of Joe

YONKERS, N.Y., Aug. 2, 2011 /PRNewswire-USNewswire/ — Consumer Reports brewed over 1,000 cups of coffee to deem two new champs among Colombian varietals in the latest issue available on newsstands today. Gloria Jean’s Colombian Supremo Medium Roast and Newman’s Own Organics Colombian Especial Medium Roast beat Consumer Reports top pick from the March 2009 report, Eight O’Clock Coffee. The former champ delivered less flavor than in past tests even ...

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Correcting Bad Economics

I was recently added to a political discussion group and while the topics covered are interesting, the premise of the group is faulty and based on some skewed version of history and economic theory. In this article, we will pull apart the mission statement and note the major inaccuracies, since they are prevalent in many other debates. “In the aftermath ...

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BATS 1000 Index Declines 4.1% This Week

8YXE2AT7XSTS KANSAS CITY, Mo., July 29, 2011 /PRNewswire/ — BATS Global Markets, a global stock market operator, reports the BATS 1000(SM) Index (Ticker: BATSK) down 4.1% for the trading week ending July 29. The S&P 500 Index declined 3.9% on the week. The BATS 1000 Index ended the trading week down 630.08 points to close at 14,774.48 as of 4 p.m. ETtoday. The Industrials and ...

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BEA Releases Revised 1st Quarter and Initial 2nd Quarter GDP

Bureau of Economic Analysis//  Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.3 percent in the second quarter of 2011, (that is, from the first quarter to the second quarter), according to the “advance” estimate released by the Bureau of ...

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Mortgage Rates Inch Higher

NEW YORK, July 28, 2011 /PRNewswire/ — Mortgage rates turned course this week with the benchmark conforming 30-year fixed mortgage rate rising to 4.74 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.35 discount and origination points. The average 15-year fixed mortgage moved up to 3.83 percent, as did the larger jumbo 30-year fixed ...

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Unemployment Claims Lowest Since April

A Bureau of Labor statistics report announced that first-time applications for unemployment benefits fell to below 400,000 for the first time in three months. At 398,000, the drop has gone under the mark that many analysts feel signals recovery in the job market. No extenuating circumstances were noted in the labor report as to why the number came in so ...

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