Beijing continued a delicate balancing act yesterday (Wednesday), vowing to keep stoking its economy with funding from its $787 billion stimulus program even as it implements new controls on bank lending.
Chinese stocks are dominating the domestic equities market. If you think the trend is going to end sometime soon, you had better think again. Winners like China GrenTech (NASDAQ:GRRF) are here to stay.
Overdraft fees, which a large number of U.S. banks and credit unions relied on to turn a profit in 2008, are under a great deal of fire from consumers and Washington alike.
Upbeat headlines have been everywhere in recent weeks, and they all seem to point to a single conclusion: The U.S. economy is in the early stages of a very rapid recovery.
As we all know, the depression is over. The stock market seems to think so… with the Dow up 32 more points on Friday… and apparently eager to go higher. Oil rose above $64. And gold is trading at $937 this morning.
If you live in the United States, there is a good chance the crisis in California is going to affect you. And if you own municipal bonds — either directly or indirectly through other investments — what’s happening in California could have a major impact on your finances.For years, state government budgets have been expanding as the economy grew and the rising housing market swelled property tax coffers. But the severe recession that has brought rising unemployment and a collapse in property values has drastically cut revenues from income, property, sales and corporate taxes.
Investors in common stocks tend to ignore warning signs coming from the credit markets, often at their peril. Right now, the credit markets are broadcasting the following warning: The equity of overleveraged REITs is at risk of elimination or permanent impairment.
U.S. Government to Hold Hearings on Futures Trading; Boeing to Acquire 787 Fuselage Maker; Job Losses Contribute to Rising Credit Delinquencies; Ex-Goldman Sachs Worker May Have Stolen Crucial Code; Declining Southwest Traffic Prompts Deep Fare Discounts; GM Asks U.S. to Let It Drop Dealers, Parts Maker Files for Bankruptcy
Gold price action on Monday looked similar to Friday’s. The bottom for gold in the Far East came shortly after 3:00 p.m. in Hong Kong…rose until shortly after London opened, declined a couple of bucks…but once the London a.m. gold fix was in [10:30 a.m. in London...5:30 a.m. in New York], gold rose to its high of the day shortly after 11:00 a.m. This high [once again over $940] lasted until 9:00 a.m. in New York, shortly after the Comex opened…then it got taken down eight bucks to its low of the day at 10:00 a.m. in New York…which just happens to be the London p.m. fix…3:00 p.m. over there.
