- Gold Tops Record $1,600 on US, Europe Debt Fears
Gold rose to a record $1,607.90 an ounce, capping the longest rally in 31 years, as debt concerns in Europeand the U.S. boosted demand for the metal as a haven. President Barack Obama is pressing congressional leaders for a multitrillion-dollar agreement in talks on... - World Bank Chief: Obama Lacks Trade Leadership
President Barrack Obama needs to asset more leadership on global trade issues and stop dumbing down terms under debate in the stalled Doha round of world trade talks, says World Bank President Robert Zoellick. The Doha round of talks aims to cut global trade barriers,... - Experts: US Economic System Near ‘Collapse’
- Misery Index at 28-Year High on Jobless Rate
Americans haven t felt this bad in almost three decades, according to the correlation between the U.S. Misery Index, or the sum of the unemployment and inflation rates, and measures of consumer confidence. The Misery Index stands at 12.8, the highest in 28 years. Consumer... - WSJ: 5% Unemployment Rate is Only 13 Years Away
Remember the days of 5 percent unemployment rates, way back in December 2007? They'll be back in about 13 years, according to The Wall Street Journal. U.S. employers have added 757,000 jobs to their payrolls in the first half of this year. That actually wouldn't be so... - Debt Deal, Elections, China Spell Trouble for Gold
Gold is one of the hottest investment these days, soaring on an inability in the U.S. to even address gaping deficits much less do something about them as well as on inflationary concerns worldwide. But clouds could lurk on the horizon, analysts say. Republicans and... - China Boosts Holdings of US Treasury Securities
China, the biggest buyer of U.S. Treasury debt, increased its holdings in May for the second straight month, after five months of declines. China boosted its holdings by $7.3 billion to $1.16 trillion, the Treasury Department said Monday. Total foreign holdings of... - James Grant: US Needs Gold-Backed Dollar
James Grant, founder of Grant's Interest Rate Observer and one of Wall Street's strongest advocates of the gold standard, says it's past time to leave the faith-based dollar. Grant calls the fiat dollar one of the world's astounding monetary creations. It'll be 40... - Rosenberg: Recession is One Small Shock Away
Gluskin Sheff economist David Rosenberg says another recession is only one small shock away. Everything is telling you how soft the underbelly of the economy really is, Rosenberg recently told CNBC. We're just one small shock away from the economy going back into... - Unemployment Seen Staying High Through 2012
David Mann, Head of Americas Global Research at Standard Chartered Bank, says unemployment will remain high through 2012. This is the worst recovery in employment in post world war two history, Mann told CNBC. In fact, we have not even come close to recovering from the... - Deutsche Bank: Stocks to Drop if EU Crisis Spreads
A new report from Deutsche Bank says stocks could drop 35 percent worldwide if the euro zone sovereign debt crisis worsens. Even if the larger debt crisis is contained and doesn't have spillover effects in the real economy, Deutsche analysts see a fall of around 12... - Lawmakers Use Default Anxiety to Their Advantage
An anxious world watches as Congress and the White House debate lifting the U.S. government's $14.3 trillion debt ceiling by Aug. 2, with failure to meet that deadline see as a default. Leaders from bother parties agree that not raising the ceiling would be bad for the... - Standard Chartered: Gold May Hit $5,000 by 2020
Gold prices, which rose to a record high of above $1,600 today, may soar to as much as $5,000 an ounce by 2020 on slowing production growth and increasing demand from China and India, according to Standard Chartered PLC. We are looking for the gold price to reach about... - Analysis: Crucial Week for Italian Debt Crisis
Global markets remain spooked as fears over the potential inability of Italy to finance its debt and the failure of major Italian banks causes panic throughout the eurozone and the world. Italy, Europe s third largest economy, is facing serious economic difficulties and... - Investors Boost Commodity Bets as Gold Jumps
Funds boosted bets on rising commodity prices by the most in almost a year as traders snapped up gold amid escalating debt woes in the U.S. and Europe.Speculators raised their net-long positions in 18 commodities by 15 percent to 1.09 million futures and options contracts... - For World Investors, Plenty of Worries This Week
U.S. Treasury bonds could soon lose the privilege of being the only debt securities in the world whose value actually rises on the threat of a ratings downgrade. That is because for the first time, the United States' top-notch debt rating is in jeopardy.U.S. congressional... - 'Harry Potter' Conjures Global Records for Time Inc.
The final Harry Potter film shattered box office records worldwide with a whopping $168.6 million in U.S. and Canadian ticket sales over the opening weekend and nearly $476 million globally. The staggering domestic total for Harry Potter and the Deathly Hallows -- Part... - Summers: Default Panic Will Dwarf Lehman Crisis
A U.S. debt default would cause panic throughout the financial system and long-term uncertainty, former Treasury Secretary Larry Summers told CNN. It seems to me an unthinkable financial risk to take, Summers said in an interview on Fareed Zakaria GPS, scheduled for... - Bid from Carl Icahn Puts Clorox Up for Grabs
Activist investor Carl Icahn made an unusual offer to buy Clorox Co. last week, presenting himself almost as a disinterested bidder and encouraging the company to try to find a better offer.The billionaire hedge fund manager sent a letter to Clorox CEO Don Knauss on... - Debt Fears Fuel Longest Gold Rally Since 2009
Gold futures rose, capping the longest rally since November 2009, on mounting concern that debt woes in the U.S. will escalate, boosting the appeal of the precious metal as a haven.Standard Poor s became the second rating company to say it may cut the U.S. s top credit... - Gross: Lawmakers 'Don't Get' Debt Implications
Bill Gross of Pacific Investment Management Co. said U.S. lawmakers don t get the long-term implications of deficit reduction even if a resolution is reached to lift the debt ceiling. The U.S. basically has a $60 trillion net present value liability burden, and that... - Shilling: Home-Price Plunge to Spark Recession
Housing prices are due to slide another 20 percent nationwide and willthrow the U.S. economy into a fresh recession probably sometime nextyear, says economist Gary Shilling. The problem is there are too many excess inventories. We estimate thatthere are 2 (million) to 2.5... - Skarica: Weakening Dollar to Boost Gold, Inflation
The dollar will rally from time to time thanks to worries that debt problems in Europe will bruise the euro, but in the long run, the dollar won't seriously strengthen due to excessive money printing that is sure to continue in the United States, says David Skarica, editor... - Carr: Other Data Take the Air Out of Inflation Fears
Bureau of Labor Statistics data shows that in June, inflation declined by 0.2 percent, as measured by the Consumer Price Index. This follows a 0.2 percent increase in May. Economists surveyed by Bloomberg had expected prices to fall 0.1 percent, once again missing the... - Greenspan: Kids Today Can't Replace the Boomers
Today's youth doesn't have what it takes to replace the economic void left by retiring Baby Boomers, says former Fed Chairman Alan Greenspan. They're just not productive enough. In the United States, we are in the process of seeing the baby boomers the most productive,...
Tuesday, July 19, 2011
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