June, 2011
U.S. Credit Rating
Rating agencies S&P and Moody’s threaten to lower the United States credit rating today if the government cannot reach a deal on the debt ceiling. S&P said the U.S. rating will be dropped to “D”, the lowest possible rating.
No Default, No Shutdown Inevitable if Debt Ceiling Talks Fail
The United States does not have to default on its debt, and the social security and Medicare checks can go out even if Republicans and President Obama cannot strike a deal to raise the debt ceiling by August 2.
Greece Passed Austerity, What’s Next?
The market made further gains after Greece passed the first part of the austerity plan. The Dow Jones Industrial Averages advanced 72 points; 10-years U.S treasury yield was at 3.09%; and the EUR/USD was trading at 1.4460. Crude continued its three-day climb to $95 for August delivery, after news of U.S. supplies having dropped more [...]
Press Advisory: Greek Vote Does Not End Crisis
Today, the Greek Parliament voted in principle to support a five year austerity plan; however, this does not end the crisis-not by a long shot.
Consumer Confidence Data Shows Second Recession a Big Risk
Consumer confidence continues to slip indicating the May slowdown in jobs creation, retail sales, and personal income and spending continues into June. Second quarter GDP growth could be worse than the tepid 1.9 percent registered in the first quarter, indicating a second recession is in the wings.
June 28th Update
The Dow Jones Industrial Average was up 145 points and the EUR gained against the USD today in expectation of Greece’s austerity plan passing tomorrow. The vote in Greece will be a close call; if it does pass, it will be by a narrow margin. The EUR/USD was trading in the 1.4350 area today, a [...]
If Budget Talks Fail, U.S. Does Not Have to Default on National Debt, Higher Taxes Not Needed
In the debt ceiling talks, President Obama and Republican leaders are locked in a battle of will. The simply truth is higher taxes are not needed, and the U.S. does not have to default if no deal is struck by August 2.
The U.S. Dollar
The USD has been losing value for decades now. Budget deficit, prolonged oversea wars, slow economic growth, and artificial devaluation of the currency by the Fed are some of the reasons for the weakening dollar.
“Bipartisan” CBO Peddling Obama’s Low Growth Hoax
The economy is skidding, and President Obama is fresh out of “progressive” fixes.
Top News
- US stock market recovers most of an early loss May 23, 2013NEW YORK (AP) — Stock prices are slightly lower at midday on Wall Street after manufacturing contracted unexpectedly in China this month. […]
- Forest Labs' longtime CEO Solomon to step down at year-end May 23, 2013(Reuters) - Forest Laboratories Inc said Howard Solomon, its chief executive of more than 35 years, will retire at the end of this year, capping a tenure that saw the company morph from a small generic and vitamins maker to a $10 billion corporation. Solomon will continue in the chairman role until the annual shareholder meeting in 2014, the company said. Fo […]
- Birth control coverage up for federal appeal May 23, 2013DENVER (AP) — In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill. […]
- Jobless claims data suggests labor market strength May 23, 2013By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington. The improving job market tone is helping to prop up housing, with rising home prices keeping domestic consumption supported. But tight […]
- New car sales seen up about 8 percent in May: research firms May 23, 2013DETROIT (Reuters) - Auto sales in May are expected to rise about 8 percent and the annual sales pace should rebound back above 15 million vehicles after a disappointing result in the prior month, two research reports said on Thursday. Sales of new cars and trucks in May are expected to top 1.43 million vehicles, while the annual sales pace is forecast to hit […]