Dollar Falls on Fed’s Pledge to Maintain Key Interest Rate at a Record Low
helicopter-ben-bernanke The dollar tumbled the most in at least 40 years against the Swiss franc after the Federal Reserve pledged to keep its key interest rate at a record low at least through mid-2013 to revive the flagging economic recovery. The greenback declined versus the majority of its most- traded peers as the Fed said [...]
U.S. National Debt Completely and Totally Out of Control
Obama-Boehner-Reid-Pelosi-250×166 Is the debt ceiling deal supposed to be some sort of a cruel joke? Is this what the American people have been waiting months and months for? The “debt ceiling deal from hell” is a complete and total fraud. Barack Obama will not need to worry about the debt ceiling again until after the [...]
-634.78: Stocks Plummet and “No Bottom in Sight”
chart_down_140 By: JeeYeon Park CNBC.com Writer Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P’s downgrade of U.S.’s credit rating last week in addition to ongoing economic jitters. The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, [...]
Dollar to Be ‘Discarded’ by World: China Rating Agency
american-dollar-toilet-paper The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating. The United States “should get a [...]
No Chance of Default, US Can Print Money: Greenspan
Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P’s decision to downgrade America’s credit rating. Alan Greenspan Getty Images Alan Greenspan “The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default” [...]
S&P executive: 1 in 3 chance of future downgrade
13885694114e3cd31452e0b A Standard & Poor’s official says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 months. The credit rating agency’s managing director, John Chambers, tells ABC’s “This Week” that if the fiscal position of the U.S. deteriorates [...]
Live Free Now featuring John Papola
Episode #35 Hosted by Jason Rink w/ special guest John Papola Jason interviews John Papola, creator of the internet phenomenon Hayek vs. Keynes Rap Battle. They chat about austrian economics, libertarianism, and the impact of the YouTube video! Join us as we discuss…….. -TSA Agent puts passenger’s IPad down his pants and gets busted! Jason [...]
10 signs the double-dip recession has begun
foreclosures Friday’s news on GDP shows the double dip has arrived — an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will make it worse. The U.S. has entered [...]
Apple Now Has More Cash Than The U.S. Government
A8Gqgz Here’s something to keep in mind as you follow this evening’s congressional debate over the debt ceiling. According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday. Apple’s last earnings report (PDF here) showed that the [...]
