Why President Obama's Economic Plans Won't Fix Anything
President Obama's economic plans have some pundits scratching their heads this week.
President Obama pushed for a $6.4 billion expansion plan for unemployment benefits this week. He has also unrolled a plan where impoverished areas, termed "Promise Zones," will receive additional tax incentives, housing assistance, and education grants from the federal government.To continue reading, please click here...
The Best and Worst of Wall Street 2013
Of all the things you can say about the world of finance this year, it wasn't boring.
Looking back at the best and worst of Wall Street 2013, we've had record stock market highs, hyped up IPOs, activist investors gone wild, and red-faced moments for some prominent CEOs.
Some of it was sad, most of it was entertaining, but none of it should have distracted you from making money.
We here at Money Morning have created some very special awards to commemorate some of the most striking developments of 2013.Let's start with that unforgettable Ackman-Icahn smackdown...
3 Million Americans to Lose Unemployment Benefits in 2014
Today, 1.3 million long-term unemployed workers sit restlessly in Congress' palm. They will be left without federal unemployment benefits just three days after Christmas if Washington fails to rework the budget deal to extend the Emergency Unemployment Compensation Program (EUC).To continue reading, please click here...
The 10 Biggest Companies in the U.S. Today
The numbers are in, and the amount of money fueling 2013's biggest companies is staggering…
The 10 biggest companies in the U.S. today earned a combined annual revenue of more than $2.2 trillion in fiscal 2012. That's $1.35 trillion more than the country's credit card debt, and $1.17 trillion more than total student debt.
These moneymakers have been ranked based on total revenue by Fortune. All of them are incorporated in, operated in, and filing taxes in the U.S.To continue reading, please click here...
FOMC Meeting Today: Why the Fed Won't Taper
Fed-watchers are pretty sure they know what the word on a Fed taper will be when the official announcement comes following the Federal Open Market Committee (FOMC) meeting today and tomorrow (Wednesday)…
Wait a while longer.
While the U.S. Federal Reserve has hinted several times in the past six months that it is considering cutting back on its monthly purchase of $85 billion in bonds and mortgage-backed securities (known as quantitative easing, or QE), most expect no Fed taper in the immediate future.To continue reading, please click here...
This Chart Will Save You from a Dangerously Popular Delusion
There's a very dangerous meme making the rounds.
It goes something like this:
The economy is improving, therefore the Fed's going to taper… and, when it does, the economy is strong enough to endure the withdrawals that will come with it.
Don't fall for it.
Nothing could be farther from the truth. Any amount of stimulus reduction will indeed trigger a "taper tantrum."This chart is all the proof we need...
The Strange Numbers Running the World this Week
We live in an age of numbers, and they tell stories worth a thousand pictures. Here's are 10 of the most fanciful, bizarre, infuriating, and compelling ones this week:
General Motors (NYSE: GM) Bailout Leaves Taxpayers with $10.5 Billion Loss
Monday, the U.S. Treasury Department sold off its remaining shares in General Motors (NYSE: GM), closing a chapter of the auto industry bailout with a cringe-worthy $10.5 billion loss of taxpayer dollars.
The federal government spent $49.5 billion to save the doomed auto-making giant in 2008. It took on about 912 million GM shares (a 60% stake) in exchange for cash.To continue reading, pleae click here
U.S. Budget Deal Softens Sequester, Does Little Else
Rep. Paul Ryan (R-WI) and Sen. Patty Murray (D-WA) come with tidings of great joy this week: They have crafted a U.S. budget deal that solves the government's fiscal problems.
Or, not really…Here's what you need to know...
The Surprising Benefits of Raising the Minimum Wage
The notion of raising the minimum wage has moved back into the national spotlight courtesy of U.S. President Barack Obama, who last week called for an increase in the federal minimum rate from the current $7.25 an hour to $10.10.
It's an idea the president last mentioned publicly in his State of the Union speech in February, when he called for raising the minimum wage to $9 by 2015.It makes more sense than you'd think...