We have tried bailouts, drawing applause from Buffett, whose company owns a 6.67 percent stake in Wells Fargo & Co. We have tried federal stimulus spending, which yielded little more than a sugar high. We have tried propping up the stock market and home prices with record-low interest rates from the Federal Reserve, hurting savers as well as
The price of gold hit a fresh all time high of $1,900 an ounce on Tuesday as investors continued to fret over the sovereign debt crisis in the euro zone and its impact on the global banking industry. Having risen by a third since the beginning of 2011 and nearly fivefold since 2004, one analyst believes the precious metal is now in bubble
Past performance is no guarantee of future results, as the saying goes. But a new Fidelity Investments analysis of what’s happened to retirement investors’ portfolios since the 2008-2009 market crash is worth considering if you’re tempted to pull money off the table during the market’s current volatility. The big message: Investors who
Now that the U.S. debt deal has come and gone, the focus has turned back to the American and global economies. The picture does not look pretty, and markets have taken notice. Stock indexes continue to tumble Thursday, with the S&P 500, the Dow and the Nasdaq falling more than 2 percent. After last week's shocking GDP data and this week's
Here are the ingredients in the plot: A problem everyone’s aware of. If it isn’t resolved, a shutdown with unspecified but possibly disastrous consequences. A deadline which seems indispensable, since in its absence it appears nothing would be done. And despite the presence of the oncoming freight train, movement toward a solution
PIMCO's Bill Gross is underwhelmed by the deal hammered out in Washington to cut government spending and raise the borrowing capacity of the United States, saying it does not make a "significant dent" in the deficit. In his monthly investment outlook newsletter, Gross, who runs the world's largest bond fund, said: "Even though the U.S. has
PMI was at 50.9% in July, down from 55.3% in June. The employment index was at 53.5%, down from 59.9% and new orders decreased to 49.2%, down from 51.6%. From the Institute for Supply Management: July 2011 Manufacturing ISM Report On Business® The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply
From Alejandro Lazo at the LA Times: Homeowners who want to trade up are stuck waiting Although there is no way to precisely to track move-up buyers, such shoppers often are looking in the $300,000-to-$800,000 price range, according to San Diego real estate research firm DataQuick. Home sales fell the most in that category in June, dropping
Source: USDebtClock.org
and Rebuild-US.net
