Business
Europe’s Permanent Recession
On May 6, I wrote Europe was in danger of falling into a permanent recession-a depression. http://www.thestreet.com/story/11914649/1/dire-straits-for-europe.html Now, the European statistical agencies report France joined Italy and Spain’s recessions during the first quarter, and economic activity across the entire Eurozone continued to contract.
Keeping an Eye on gold at the $1300 Level
The value of gold continues to decline as the U.S dollar gains strength in recent days. There are good supports at $1404 then $1320. It is important for gold to stay above $1300, a break of this level may signal the end of the decade bull market. Resistances are $1450 then $1490.
IRS and Associated Press Scandals Are a Failure of Presidential Leadership
News the IRS targeted conservative groups for intense scrutiny is just one in a series of revelations pointing to a culture of expediency and intolerance in the Obama White House that corrupts this administration. Consider the September slayings of Ambassador Chris Stevens and three other U.S. diplomats in Benghazi. If the attack were revealed to [...]
AUD/USD Technical Correction has Begun
AUD/USD broke major weekly support line at 101.50 late last week. It looks like the currencies pair major technical correction is under way. The first initial target is 0.9886, the 23.6 percent Fibonacci retracement. The final target of this correction is 0.9143 the 38.2 percent Fibonacci retracement.
Forgiving Student Debt Won’t Help Students or Fix Colleges
College is too expensive, graduates can’t find decent jobs and pay off their loans, and students, parents and educators all share in the blame. Now, President Obama proposes to forgive more student debt and that will make a bad situation worse.
Can USD/Yen Moves Above 100.00?
The bullish move in the USD/Yen is halting at the 100.00 level. There are a few good reasons for this. One, 100.00 is a psychological resistance level. Second, technically, it is also an important 50 percent Fibonacci retracement from the 124.00 to the low of 75.55.
AUD versus USD at Major Support
by Dixon Fung The Reserve Bank of Australia quarter percent surprised rate cut last night drove AUD/USD lower. The currencies pair had a huge gain since 2009 with very little correction. At the time of this article, the market is testing the major support at 1.0150. If this support breaks, it signals a further down [...]
It’s Time to Start Taxing Internet Sales
The Senate recently passed a bill that would require internet retailers to collect sales taxes on behalf of local governments. This bill has flaws that could be fixed in the House, and should be passed. I don’t like the idea of the state and local governments collecting more taxes-they know no limits to their capacity [...]
What is the next direction for Gold?
Gold is consolidating at the moment within $1400 to $1500 levels. The next major direction for gold is still uncertain. If gold does go below $1300, it might signal the decades Bull Run is over. At the moment, there are a lot of natural demands for the commodities which is lending support for gold. Gold [...]
Top News
- 'Trek' does $70.6M but falls short of studio hopes May 20, 2013LOS ANGELES (AP) — "Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's expectations. […]
- On fleeting Hong Kong trips, Chinese make frugal fashionable May 20, 2013By Donny Kwok and Lavinia Mo HONG KONG (Reuters) - Armed with empty suitcases and same-day return tickets, an army of mainland Chinese is descending on suburban outlet shopping malls and international fashion chains in Hong Kong, turning cheap into the new chic as luxury falls out of favor. Wealthy Chinese used to stop over in Hong Kong for a few days to pic […]
- Yen edges up from lows, Asian shares firmer May 20, 2013By Masayuki Kitano SINGAPORE (Reuters) - The yen pulled up from a 4-1/2 year low against the dollar on Monday after Japan's economics minister said a further steady drop in the yen could have negative effects on households, pushing the dollar to a low of 102.00. "People say the excessively strong yen has corrected quite a bit. If the yen continues […]
- Consumer group flags high SPF ratings on sunscreen May 20, 2013WASHINGTON (AP) — Sunbathers headed to the beach this summer will find new sunscreen labels on store shelves that are designed to make the products more effective and easier to use. But despite those long-awaited changes, many sunscreens continue to carry SPF ratings that some experts consider misleading and potentially dangerous, according to a consumer wat […]
- Analysis: High speed trading a stiff challenge for U.S. regulators May 19, 2013By Christine Stebbins CHICAGO (Reuters) - Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown causes. The latest alarm was triggered by a fake tweet saying that the White House was bombed, prompting a U […]