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After just spotting the headline of this WSJ story and then reading the first paragraph or two, it seemed a sure target for ridicule, particularly since that's what is done around here most of the time. But, after reading the whole report, that view had to be reconsidered. Chávez Discounts ...
Other
Gross Domestic Product
Rep. Alan Grayson (D-Florida) speaking yesterday during the House Finance Committee hearing that resulted in a much weaker amendment by Rep. Melvin Watt (D-NC) being replaced by one backed by Ron Paul (R-Texas) and Grayson. Uh-oh! From Alex Jones: Fed Sicks Attack Dogs on Ron Paul after ...
Government
Federal Reserve
NACCO Industries, Inc.
Ron Paul
It's a good thing that the folks at the FHA (Federal Housing Administration) know what they're doing, otherwise their tiny capital reserves as compared to the nearly $700 billion in home loans they guarantee might be cause for concern, especially after reading a story like this one that, if you ...
Other
Housing Market
Financial Crisis
Edmund L. Andrews (the erstwhile serial bankruptcy filer currently employed by the New York Times) reports on how Ron Paul's "Audit the Fed" amendment got tucked into the new House bill on financial market regulation, maybe as a result of a growing number of elected officials having read Paul's ...
Government
Federal Reserve
Rep. Tom Brady (R-Texas) talks to Fox Business News after calling for Secretary Tim Geithner's resignation during a hearing of the Joint Economic Committee yesterday. This comes just two days after Rep. Peter DeFazio (D-Oregon) suggested it might be a good idea to increase the jobless total by ...
Government
Timothy Geithner
White House
Lawrence Summers
Financial Crisis
TOP STORIES Panel Votes to Broaden Oversight of the Fed - NY Times Big Shareholders Ask Goldman to Cut Bonuses: Report - CNBC Problem mortgages hit new high at 14 percent - Washington Post Attention Shifts to China for Private Equity Industry - NY Times Wells Fargo Needs TARP Money More Than ...
Stocks
MarketWatch reports that, much to the dismay of Fed chief Ben Bernanke, the House Financial Services Committee approved a measure sponsored by Rep. Ron Paul (R-Texas) that would require the government to audit the Federal Reserve. Ron Paul's provision was opposed by Rep. Barney Frank ...
Government
Federal Reserve
Ron Paul
Ben Bernanke
Barney Frank
Financial Crisis
Just about everywhere you look these days in the financial media, when the topic of discussion turns to the plunging U.S. dollar, you'll hear someone saying something like, "Unless the Fed raises interest rates, the dollar's got nowhere to go but down" . And then someone invariably says, "But ...
Government
Interest Rate
Federal Reserve
It looks like today will be an important day for those, on one side, who seek to shine a little more light on the operations of the Federal Reserve and those, on the other side, hoping to keep prying eyes away. Bloomberg reports that the House Financial Services Committee is discussing the issue ...
Government
Federal Reserve
Ron Paul
Ben Bernanke
Today is the last day for entries in the seventh installment of the semi-annual "Guess the price of oil and gold" contest - be sure to get your guesses in by midnight PST today or they will not be accepted. Here's one last look at the historical chart: A free one-year subscription to the ...
Commodities
Gold
Oil
Day Trader
USA Today reports on a new study of how personal bankruptcies are working their way up the socio-economic ladder, increasingly affecting better educated families and homeowners. A new study by Elizabeth Warren, Harvard Law School Leo Gottlieb professor of law, and Deborah Thorne, Ohio ...
Commodities
Rep. Peter DeFazio (D-Oregon) has a few choice words for Goldman Sachs and suggests the nation might be better off with two more job losses - Larry Summers and Tim Geithner. With all the criticism of the Federal Reserve lately, if Ben Bernanke happened to hear DeFazio talk, he would ...
Government
Lawrence Summers
Goldman Sachs
Timothy Geithner
Federal Reserve
Ben Bernanke
TOP STORIES House Committee to Vote on Fed Audits - Bloomberg One million jobless face benefits loss in January - CNN/Money Société Générale tells clients how to prepare for 'global collapse' - Telegraph Warren Winning Means You Won’t Sell It If You Can’t Explain It - Bloomberg China willing ...
Commodities
A new company called Cats4Gold that offers felines in exchange for gold jewelry appears to be following the business model of the Cash4Gold (hat tip AD). It looks promising, but I don't think it's a sign of a top - maybe in cats, but not for gold.
Other
Bloomberg reports that the head of Toll Brothers doesn't think much of the quality of loans being guaranteed by the Federal Housing Administration. The Federal Housing Administration, the agency that insures home purchases made with down payments as small as 3.5 percent, may create another ...
Stocks
Housing Market
Financial Crisis
From the Tom Toles collection at the Washington Post comes this summary of the agreement reached between President Barrack Obama and Chinese President Hu Jintao. Perhaps something in the background with U.S. dollars and firecrackers would have added to theme here of an uneasy relationship before ...
Government
Barack Obama
Economist/rock star Nouriel Roubini writes in the Globe and Mail about the two very different "recoveries" underway for the U.S. economy. While the United States recently reported 3.5 per cent GDP growth in the third quarter, suggesting that the most severe recession since the Great Depression ...
Commodities
Gross Domestic Product
That was quite a shocker this morning from the Census Bureau when, after many months of leveling off at, albeitly, historically low levels, they reported(.pdf) a plunge of 10.6 percent in housing starts last month along with a drop of 4.0 percent in permits for new construction. Housing starts ...
Other
Housing Market
Financial Crisis
Proving once again that the state of California is virtually ungovernable without some sort of an asset bubble in the inflation stage (rather than the current condition), Sacramento has released an early projection of its 2010 fiscal outlook and the news isn't good. The LA Times reports that ...
Commodities
Financial Crisis
The Labor Department reported that consumer prices rose more than expected last month, largely due to higher prices for automobiles and rising energy costs, and the year-over-year inflation rate moved back toward zero after spending nearly all of 2009 in negative territory as shown below. The ...
