Wall Street, it appears, hates the debt deal.
Leading up to the debt-ceiling deadline, everyone was talking about how the stock market would crater if Washington didn’t reach a deal. In fact, the opposite has happened. Just when it became clear last week that Washington was moving closer to a deal is exactly when Wall Street started …
So here’s my prediction: America’s debt is going to be downgraded and the ramifications of that will be worse than many think. And don’t count me as a debt worrier. I don’t actually think the U.S.’s debt is a problem, at least …
So here’s my prediction: America’s debt is going to be downgraded and the ramifications of that will be worse than many think.
And don’t count me as a debt worrier. I don’t actually think the U.S.’s debt is a problem, at least not yet. But to those people who do fret about the debt, which apparently includes the ratings agency …
UPDATED (5:29 PM)
Banks have a new remedy for America’s ailing housing market: bulldozers.
There are nearly 1.7 million homes in the U.S. in some state of foreclosure. Banks already own some of these homes and will soon repossess many more. Many housing economists worry that a near constant stream of home sales by banks could keep …
Early on in the financial crisis there was talk of this finally being the Wall Street recession. Investment bankers, CEOs and other high-paid types would be thrown out of their jobs or see their paychecks cut. Manufacturing and …
Early on in the financial crisis there was talk of this finally being the Wall Street recession. Investment bankers, CEOs and other high paid types would be thrown out of their jobs or see they paychecks cut. Manufacturing and other sectors that employ middle class workers would see a comeback. But, according to a new study from National …
One of the oddities of the rebound from the recent recession is how much housing has lagged the rest of the recovery, and with the economy growing so slow that is somewhat of an achievement. While the economy has continued to limp along, housing has backtracked. After rising in 2009, with the help of tax incentives, real estate prices …
A week to go until Debt Ceiling Armageddon, and the bond market and the Dow Jones industrial average seem to be taking the Washington impasse in stride. Stocks were down on Monday, but not much. The price of a 10-year government bond, which you would expect to be affected by the debt default, was down slightly, and yields were near …
The Federal Reserve has gotten a lot of flack from critics who claim that its efforts to boost the economy has caused prices to rise, and could lead to massive inflation. But a new study suggests that at least some of the nation’s rise in food prices is not the fault of the Fed. It’s Costco.
The bulk retailer, which generally charges …
There has been a lot written about what would happen if the government doesn’t end up raising the debt limit. My colleague Alex Altman perhaps puts it best in this Swampland post, where he says:
On one side, the Obama Administration, Capitol Hill Democrats, Wall Street whizzes and budget experts have been wearing out their thesauruses
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Is debt in the U.S. rising or falling?
If you have been following the fight in Washington about the debt ceiling and whether the US should be allowed to borrow more money, the answer probably seems obvious. But the obvious answer, as usual, is wrong. The U.S., when you look at our overall debt, is in a much better position that the …
Inflation in June fell for the first time in a more than a year. The Consumer Price Index (CPI), which is the government’s most widely watched gauge of what the things average Americans buy cost, fell 0.2% last month. The drop was mostly driven by a fall in gas prices, which were down nearly 7% alone in June. The question is whether …
