Facing mid-term elections and burdened with persistently high unemployment, President Obama is playing the race, gender, and class cards. Fabricating fear and injustice, such tactics keep the economy in slow gear and make worse the very people the president professes to help. The financial crisis hit African-Americans much harder than whites-more jobs and wealth were [...]
by Dixon Fung Even though gold is trading below the up-trend line drawn a week ago, it is still early to disregard this trend line. Keep in mind, this up-trend line was drawn from a weekly chart; we have to see how the commodity behaves next week. Immediate support and resistance are $1280 and $1320 [...]
Tax Reform — Eliminate the Income Tax and IRS Altogether Americans desperately want a fairer tax system and relief from arbitrary treatment by the IRS. True reform requires simply junking the personal and corporate incomes in favor of a consumption tax. House Ways and Means Committee Chairman Dave Camp estimates tax filing, recordkeeping and the [...]
by Dixon Fung The up-trend line I drew last week is still holding with $1300 is now strong support. There is small resistance at $1340 then stronger resistance at $1400. Still too early to call this a trend reversal but this recent weekly up-trend line is developing nicely.
Americans struggle with stagnant wages and rising prices. Yet the Federal Reserve is obsessed with boosting inflation with easy money policies that may actually discourage reforms that would help jobs creation and lessen income inequality.
Here are my forecasts for upcoming economic data.
WASHINGTON (MarketWatch) – The U.S. economy faces bigger issues than a severe winter, or a small inventory overhang, said Peter Morici, a business professor at the University of Maryland and the winner of the MarketWatch Forecaster of the Month award for March. “We can’t grow by adding more restaurant jobs,” Morici said in a phone [...]
Mary Barra, CEO of General Motors, was called before Senate and House Committees last week to explain why a faulty ignition switch, responsible for at least 13 crash deaths, was not recalled for several years in vehicles manufactured by GM.
by Dixon Fung An up-trend channel line is forming in the AUD/USD. If this trend can hold, it is a good long term position to have. The major resistance at 0.9300 was broken a few days back which is now minor support. The top of the channel line is at 0.9420 at the moment.
by Dixon Fung Gold has a lifted from general USD weakness today. For today analysis, I decided to remove the down-trend channel to have a fresher look. Despite overall bearish tone, the commodity is finding support below $1300. I am noticing a higher-low and a small up-trend line is forming. There is a possibility that [...]