Worry has taken over world stock markets (Photo: Reuters)
The US stock market, it appears, won’t dodge the Japanese earthquake. Up until Tuesday, US investors had mostly shrugged off the horrific events in Asia. And now, it seems, no stock is safe. Not even the cute Aflac duck. Shares of Aflac stock were down 10%
Shares of US …
The Japanese earthquake has taken the chance that we will be paying $5.00 a gallon gas by summer down from a good to nearly zero. That’s not to say that the US will avoid an economic impact from the Japan quake. Investors all of a sudden do seem spooked about Japan. US stocks opened down 300 points on Tuesday. But the hit we take won’t …
Unfortunately, earthquakes and Tsunamis have a much larger human toll than economic. And that is likely to be true in Japan as well.
Still, the 8.9 magnitude earthquake and resultant Tsunami that hit Japan near the city of Sendai on Friday comes at a time when that country’s economy was already vulnerable. The Japanese economy was hard …
Bill Gross says sell (Photo: Jason Reed/Reuters)
US debt may no longer be a good investment, at least for now. And that might be the good news.
Famed investor Bill Gross, who runs the PIMCO Total Return Fund, recently sold all of the US Treasury bonds is his fund’s portfolio. It’s a huge move for the manager of the world’s largest …
Sky high gas prices, and worry, are back (Lucy Nicholson/Reuters)
The recent spike in gas prices is getting some economists nervous. Higher gas prices, it seems, could mean fewer jobs.
In the past two weeks, the price of gas has risen on average across the country $0.33 a gallon to $3.50. In many places in the country, the price at …
Unemployment is down and America, it seems, is going back to work.
The February employment report from the Bureau of Labor Statistics, which details job increases and the unemployment report was released on Friday, offered a double whammy of good news. The unemployment rate dropped again to 8.9%. More importantly, the economy added …
Economists are arguing the USS Dollar is sinking (Getty Images)
Time to start loading up on Renminbi. At least that is the growing conclusion of a number of economists. The value of the buck is down. Electronics make it easier to convert currency so you don’t need to have one global standard. And let’s face it the US ain’t what it …
NYU’s Roubini is worried about muni bonds (Mike Segar/REUTERS)
They don’t call him Dr. Doom for nothing. A new report from the research firm headed by New York University Professor Nouriel Roubini, who is credited for predicting the housing bust and subsequent financial crisis, is saying debt defaults of local and state government …
Oil climb has traders and others saying oh-no (Photo: Reuters/Brendan McDermid)
Here’s something you never hear: Oil caused the financial crisis. Back when the Financial Crisis Inquiry Commission started a year and a half ago, they had 22 things they were looking into. Oil didn’t even make the list. And why not? On the surface it’s …
Obama talks budget cuts (Kevin Lamarque/REUTERS)
Washington is absorbed with how much it has to cut in order to get our financial house in order. And the conclusion by many is that President Obama’s proposed budget, which lowers the amount of debt we are set to take on in the next decade by $1 trillion, doesn’t cut enough. Former Bush …
Madoff says his Ponzi scheme was known by others (Photo: U.S. Marshals/REUTERS)
Nearly two years ago, just months after the Madoff scam was revealed, TIME.com wrote a story questioning whether JP Morgan Chase was hiding evidence that it knew of the Bernie Madoff Ponzi scheme. Now it appears, Bernie Madoff is making the same …
(Eric Thayer/REUTERS)
So the rumor about the merger between the New York Stock Exchange and Germany’s largest stock exchange turned out to be true. On Tuesday, NYSE Euronext and the Deutsche Borse announced they were merging. The deal will create the largest stock exchange in the world. It may also create more volatility in the market …
