The deal between Democrats and Republicans to raise the government’s debt limit did not end the warfare over the federal budget. It was merely a temporary ceasefire. The conventional wisdom in Washington (especially inside the administration) holds that the next … Read more.
When President Nixon went on his historic visit to China in 1972, he probably wouldn’t have predicted that within four decades the country then struggling to emerge from decades of disastrous economic policies would be issuing tart statements urging the U.S. to … Read more.
The Federal Reserve’s announcement last week that it intended to keep credit cheap for at least two more years was a clear invitation to Americans: Go out and borrow. But many economists say it will take more than low interest rates to … Read more.
(Reuters) – One of Germany’s leading economic associations came out in favor of joint euro zonebond issuance on Monday, raising pressure on Chancellor Angela Merkel to consider bolder crisis steps ahead of a meeting with the French president. Until now, the … Read more.
NEW YORK (AP) — Stocks are rising after news that fewer people joined the unemployment line last week and word that a technology bellwether’s profit beat expectations. The Dow Jones industrial average is up 256 points, or 2.4 percent, at … Read more.
Any time something bad happens, we’re always looking for a reason why. Some would say that we’re always looking for someone or something to blame but our motives may simply be to make sense of a situation that feels like … Read more.
Stock market turbulence demands serious action on US deficit The Global market turbulence may force Washington’s politicians back into session to find real solutions to the Nation’s skyrocketing debt and deficit, according to an economics expert. C. Fred Bergsten, director … Read more.
Aug. 11 (Bloomberg) — Central bankers are racing to shield their economies from fiscal tightening and lopsided currency swings that threaten a new global recession. In the 72 hours after a Group of Seven conference call on Aug. 7, the … Read more.
Aug. 10 (Bloomberg) — Federal Reserve officials are drafting rules for the biggest U.S. banks that won’t be more stringent than international capital standards agreed to in Basel, Switzerland, according to a person familiar with the discussions. Federal Reserve Governor … Read more.
PARIS—The French government pledged Wednesday to consider fresh tax rises, spending cuts and other budget measures to ensure the country doesn’t deviate from a challenging deficit-reduction trajectory as market concerns that France’s top-notch creditworthiness is at risk accelerated. French bank … Read more.
(Reuters) – Republicans named their six members to a congressional deficit-reduction super committee on Wednesday, setting the stage for an attempt to create bipartisan agreement on taxes and government spending. Senators Jon Kyl, Rob Portman and Patrick Toomey were selected … Read more.
Standard & Poor’s, whose unprecedented downgrade of US debt triggered a worldwide sell-off in equities is pushing against a US government proposal that would require credit raters to disclose “significant errors” in how they calculate their ratings. S&P, accused by … Read more.
Aug. 10 (Bloomberg) — The yen gained, approaching a post- World War II high versus the dollar, as the Federal Reserve’s pledge to keep interest rates at a record until mid-2013 failed to convince investors global growth will be sustained. … Read more.
Aug. 8 (Bloomberg) — President Barack Obama, breaking his silence on the downgrade of federal debt, said that the U.S. “always will be a AAA country” and that he will release a new proposal to deal with the federal deficit … Read more.
Federal Reserve officials publicly declared it was business as usual in the face of Standard and Poor’s downgrade of US government debt, but privately they acknowledged these were unchartered waters. Within 90 minutes of S&P’s decision, a joint … Read more.
Treasury Secretary Timothy Geithner ripped Standard & Poor’s two days after the ratings agency downgraded US debt, saying the stunning move was based on a “lack of knowledge” about the nation’s finances. Geithner also said the debt crisis presents Congress … Read more.
(Reuters) – The crises at the heart of the international financial and political system go beyond the debt woes currently gripping the Western world and to the heart of the way the global economy has been run for over two decades. After … Read more.
Financial Institutions around the world and especially those in Europe and the USA face a crucial set of choices about the future of their institutions. Western Governments are riddled with debt and their only way out is decades of … Read more.
Read this comment from Warren Buffett about the S&P downgrade. There is no question in his mind that the U.S. debts are money good because the U.S can print money. He goes on to say that inflation is an entirely … Read more.
Western leaders huddled on preventing the debt crisis from spreading to the core of the euro area after the biggest weekly decline in global stocks since 2008. President Barack Obama and British Prime Minister David Cameron joined telephone consultations with … Read more.
(Reuters) – Bond markets may be succeeding where political opponents have failed, pushing Prime Minister Silvio Berlusconi closer to the exit and opening up fresh uncertainties as Italystruggles to avoid financial disaster. The spread between yields on 10-year Italian bonds … Read more.
US voters disapproval of Congress hits all time high Disapproval of Congress rose to an all-time high after weeks of rancorous partisan battles over raising the US debt ceiling took the Nation to the brink of default, according a New … Read more.
NEW YORK—The Securities and Exchange Commission dropped its civil administrative proceeding against former Goldman Sachs Group Inc. director Rajat Gupta, but left the door open to pursue insider-trading charges against him in a civil lawsuit. The agency “is fully committed … Read more.
Small-business lending has been in trouble, but is there an explanation beyond the widespread perception that banks are denying credit, and starving small entrepreneurs? Clearly, the financial crisis and recession whacked banks and curtailed lending to small companies. Lending still … Read more.
PARIS — A French court on Thursday ordered an investigation into charges that the International Monetary Fund’s new managing director, Christine Lagarde, had abused her authority in a 2007 dispute involving a multimillion-dollar payout to a French tycoon while she … Read more.
Chairman Ben S. Bernanke and his Federal Reserve colleagues are preparing to meet next week as two-year Treasury yields at a record low signal a U.S. economy on the knife’s edge between growth and contraction. Guiding their assessment of the … Read more.
(Reuters) – Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009. The largest U.S. residential mortgage funds provider on Friday also … Read more.
Italy seized documents of S&P, Moody’s over suspected ‘Anomalous’ fluctuations Italian prosecutors seized documents at the offices of rating agencies Moody’s and Standard & Poor’s in a probe over suspected “anomalous” fluctuations in Italian share prices, a prosecutor said Thursday. … Read more.
By Mark Hulbert, MarketWatch CHAPEL HILL, N.C. (MarketWatch) — Market declines rarely end with days like Thursday’s 513-point drop for the Dow. So even if you think that we’re just suffering a mere correction within an ongoing bull market, you … Read more.
Normally, the strongest time of year for the market is the 4th quarter. It may be different this year. Note this email response from the senior Senator from Utah. “Thank you for contacting me to express your thoughts and … Read more.
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The Insomniac Hedge Fund Guy provides market macro-analytics and public-file aggregation models for data-tracking purposes. Content should not be treated as individualized investment advice or a professional financial-planning directive. Past performance does not guarantee future performance cycles.
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