China Considers Move Away From Dollar
Most market pundits feel that China gets an unfair advantage by undervaluing the yuan against the dollar. This may be so, but I have reservations about them un-coupling it. We could probably sell more to China if they did so,… Continue reading
Cities Printing Their Own Money
The Federal Reserve and Treasury have pumped an ungodly amount of money back into the economy, which raises serious concerns about future inflation, but for now, much of that money is stuck in the banks and velocity is extremely low.
So what have some city governments and businesses done to combat this? Well, they've decided to print their own money. MSN Money highlights one such example: Continue reading
Why Gold is the Go-To Asset to Store Value
Many people wonder what makes gold special as a store of value. When inflation fears set in, people flock to gold. One answer is that the dollar used to be backed by gold. An even better answer I will leave to Judy Shelton, an economist and director of the National Endowment for Democracy: Continue reading
Let the Jobless Recovery Continue: Unemployment Hits 26-Year High
As the jobless recovery rhetoric continues by the federal government, many have braced for October unemployment figures in the double digits. The Department of Labor released the latest unemployment data today, confirming those double digit concerns. U.S. unemployment hit 10.2% in October, up from 9.8% in September, the highest since April 1983. Continue reading
Swift Wits: Savers Get Stung, Pay Czar Tackles AIG and Real Estate Keeps Deflating
As of today, few things would be less appealing in your portfolio then dollars. As the Federal Reserve pours liquid-ity into the economy through TARP, stimulus and bailouts, and the Federal Government runs record deficits, interest rates stay artificially low. Depressingly low. In fact, a quick surf of Bankrate.com tells me the highest yielding money market account currently available (MMA) is 1.81%, while the average yield comes in at a whopping 1.113%. (1) That means if a person has $20,000 of hard earned money stuffed away in a MMA, he or she will earn roughly $30/month in taxed income. Nice. Continue reading
How the Current Economic Climate Affects Pretty Girls, Part II
She needs a couple more hours in a tanning booth, doesn't she? Please take a moment and note the eyeliner in the background.
______________________________________________________________________________________________________Previous in Pretty Girls: Part I: How the Current Economic Climate Affects Pretty Girls ______________________________________________________________________________________________________
In… Continue reading
Gold Bullion Touches Record High
Gold bullion futures touched a record high $1,045 in yesterday's trading session in New York. If you believe in stock indexes breaking through resistance points, this may be just that for bullion. Continue reading
Niall Ferguson: China Moving Away From U.S. Dollar
Economic historian Niall Ferguson and James Fallows discuss the Chinese reaction to U.S. fiscal policy. In short, many in China see U.S. fiscal policy as out of control and the dollar heading for major depreciation. Continue reading
Intoxicating Visuals for the Dollar, Credit Cards & Bank Failures
The drop in the trade-weighted dollar index was led by the dollar’s 16% depreciation against the Canadian dollar, and a 12% decline against the euro. So watch for traveling Canadians towards the end of the summer; it's getting nice and cheap for them to come visit. Continue reading
CPAs Should Run the Feds
Social costs are not being reduced by the bailout, they’re being dispersed: to the taxpayer, to everyone who earns or saves the U.S. dollar and to unborn generations of Americans. Continue reading
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