Gold Price Bubble? Gold prices, what's ahead?
Stock Market Up and down, but when is the next bubble?
Wells Fargo (WFC: 19.58, 0.88, 4.71%) reported increased profit in the first quarter on Wednesday, largely on the basis of its acquisition of Wachovia last year. Wells said its net income was $3.05 billion, or 56 cents a share in the first quarter, up from $2.0 billion, or 60 cents a share, in the same [...]
In a speech to the Economic Club in Washington D.C., Treasury Secretary Timothy Geithner said the U.S. bears a “substantial share” of the responsibility for the global financial crisis, and he believes the U.S. must recover first in order to return the rest of the world to growth. Despite saying that the U.S. did have [...]
NEW YORK–A push by homeowners to lock in near record-low interest rates drove mortgage applications higher last week, as refinancing demand overshadowed a drop in loan requests to buy homes, the Mortgage Bankers Association said Wednesday. Average 30-year U.S. mortgage rates edged up 0.03 percentage point to 4.73% last week, slightly above the all-time low [...]
U.S. banks will be briefed by regulators as early as Friday on how they performed in government “stress tests,” before the results are made public later, The Wall Street Journal reported, citing government officials. Some estimates of likely losses that were used in the stress tests were tougher than expected, the newspaper said. “Under a [...]
President Obama was pretty clear on March 30th that Chrysler as we know it is finished. “If they and their stakeholders are unable to reach such an agreement, and in the absence of any other viable partnership, we will not be able to justify investing additional tax dollar to keep Chrysler in business.” That blunt [...]
The writing is on the wall. It’s still indecipherable, but it seems to be getting clearer. Or is it? President Obama thinks it is, saying recently there are “glimmers of hope” for the long-ailing U.S. economy, while at the same time urging patience. Obama’s top economic advisor, Larry Summers, is also cautiously optimistic, predicting an [...]
The financial MSM and government officials alike are looking for a recovery in the housing market to bubble valuations to “restart the economy.” That is not going to happen–not this year, not in five years or even in ten years. Here’s why.The entire world is hoping that housing is about to “recover” and re-ascend its [...]
WASHINGTON -(Dow Jones)- Instead of funneling taxpayer money into large, faltering firms, it is time for the government to take the radical step of breaking them up into smaller, more transparent companies, top economists told U.S. lawmakers Tuesday. “We have little to lose, and much to gain, by breaking up these behemoths, which are not [...]
Despite huge government efforts to restore lending to normal, Treasury Secretary Timothy F. Geithner said Tuesday that borrowing costs remained high and credit was still not flowing normally. Speaking before a Congressional panel in Washington, Mr. Geithner said that some corners of the credit market had improved recently as the government set up programs to [...]
BOSTON–State Street Corp, one of the world’s biggest institutional investors, reported a 10% drop in quarterly profit Tuesday and said that it had $5.9 billion in unrealized losses in its investment portfolio. Net profit shrunk to $476 million, from $530 million a year before, while earnings per share stood at $1.02, down from $1.35 a [...]