The world’s largest economy will expand at an average 2.75 percent annual rate in the first six months of the year, down from a prior estimate of 2.9 percent and a 5.9 percent surge in the fourth quarter, according to the median estimate of 52 economists. The survey, taken from March 1 to March 10, also showed the outlook for consumer spending improved.
The slowdown “is more like a bump on the road to recovery,” said Ethan Harris, head of North America economics at Bank of America-Merrill Lynch Global Research in New York. “We are beginning to exit the bunkers.”
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With unemployment remaining high and concerns growing about a jobless recovery, Congress recently passed legislation that promises to jumpstart travel, a critical sector of our economy. Best of all, this “stimulus” plan won’t cost taxpayers a single dime – in fact it will actually increase federal revenues and lower the federal budget deficit.
The bill is [...]
Payday lenders didn’t cause the economic crisis, but consumer advocates hoped their sky-high interest rates on loans would be reined in as part of a sweeping regulatory overhaul to prevent a repeat of the financial fiasco.
However, key senators feverishly working to craft a bipartisan bill want to make payday lenders — companies that offer short-term [...]
If you’re like me and reluctant to join the stock market frenzy with open arms, then consider buying reverse index funds that bet against Treasury bonds.
This strategy offers a high value alternative to joining a 50%-plus stock market rally since March as long-term interest rates rise on most days when the stock market climbs.
As stocks [...]
The world’s largest economy will expand at an average 2.75 percent annual rate in the first six months of the year, down from a prior estimate of 2.9 percent and a 5.9 percent surge in the fourth quarter, according to the median estimate of 52 economists. The survey, taken from March 1 to March 10, [...]
Payday lenders didn’t cause the economic crisis, but consumer advocates hoped their sky-high interest rates on loans would be reined in as part of a sweeping regulatory overhaul to prevent a repeat of the financial fiasco.
However, key senators feverishly working to craft a bipartisan bill want to make payday lenders — companies that offer short-term [...]
For 18 years, Gary G. Gensler worked on Wall Street, striking merger deals at the venerable Goldman Sachs. Then in the late 1990s, he moved to the Treasury Department, joining a Washington establishment that celebrated the power of markets and fought off regulation at almost every turn, Graham Bowley reports in The New York Times.
Today, [...]
Nouriel Roubini, one of the few economists who accurately predicted the magnitude of the world’s recent financial crisis, believes the chance of a double-dip recession in the U.S. economy is increasing because of risks related to poor economic data in the country coupled with Europe’s ongoing debt crisis.
In a research paper, cited by CNBC, Roubini [...]
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