This is what happens when otherwise competent, diligent, and hard-nosed bureaucrats fail to read my website.
The Fed is being forced to end its bond-buying, cutting off the “free money for financiers” that has sustained a frothy stock market.While the Federal Reserve presents itself as free to do whatever it pleases whenever it pleases, the reality is the Fed…
Early openers crunching upwards: Kiwis +0.2%, Aussies +0.3%, Nikkei +0.2% and Sth Korea +0.6%.
Modest motion in Aussie sectors: Energy +0.9% down to Miners -0.5%.
falling wages should only be seen as a sign of improved U.S. manufacturing competitiveness only in the most shortsighted Darwinian sense. As I wrote in a post yesterday, unless Washington proposes to inundate the economy with another flood of bubble-era like super-cheap credit, or figures out a way to foster a wholly unprecedented jump in net exports, the U.S. economy will never be able to grow if worker wages keep stagnating or falling.
The $17 billion settlement reached today (Thursday) between the U.S. Department of Justice and the subprime mortgage meltdown progenitor, Bank of America Corp. (NYSE: BAC), is the largest penalty of its kind in U.S. history.
But it’s still not enough.
Today’s gold prices fell to levels not seen since mid-June.