Congress Just Played a Trick on American Taxpayers
It just so happens I have both a "trick" and a "treat" for you today.
First, the "trick."
Wednesday the House passed a bill titled The Swaps Regulatory Improvement Act.You won't believe why they thought this would be a good idea...
This $1.7 Trillion Industry Will Turbocharge the U.S. Economy
Barron's recently predicted that over the next 20 years, "the U.S. economy is likely to grow less than 2% a year, down from 3% or better since World War II."
Citing the work of prominent Northwestern economist Robert J. Gordon, Barron's predicts a long era of slow growth, market turbulence, and – of particular concern – the ongoing displacement of middle class jobs due to technological innovation.Here's how to capture your share...
Will United States Debt Holders Bail on Treasuries?
Since the mid-1990s, China and a host of other foreign governments have quietly acquired one-third of all United States public debt. Foreign holders of United States debt held more than $5.6 trillion in Treasury securities as of August 2013.
But continued debt-ceiling drama in the United States is starting to change that.
Beware the Strange Data in the September Jobs Report
If you still needed confirmation this is the slowest economic recovery in history, you need look no further than today's (Tuesday's) September jobs report.
Total non-farm employment in the United States rose 148,000 in September, a soft number well short of the 180,000 expected. The unemployment rate itself fell to 7.2% – the lowest it's been since U.S. President Barack Obama took office.Here's why we're skeptical of the latest jobs report...
The First Thing Yellen Should Do to Save America
There is so much to say about the United States government not defaulting.
I'd like to start with a thank you.
It isn't easy, but I'll try.
Thank you, Congress, for showing the world there's nothing wrong with the full faith and credit of the United States… and for showing the world that having full faith and credit in the United States government is a total bust.
An extension? Really? So, we go through this again in a matter of weeks?
But let's move on. Let's talk about Janet Yellen. She's far more relevant.
She's about to become the most powerful person in the United States – in the entire world, for that matter.Here's the first thing Yellen could do with all that power - if she wants to save America...
Debt Ceiling Deal Doesn't Fix This Larger Global Issue with United States
Senate leaders finally hammered out a debt ceiling deal today (Wednesday) that avoided a looming potential debt default. It also reopened the government that has been shut down for more than two weeks.
Investors cheered the news and sent stocks up 205 points, or 1.36%, today.
While a deal solves short-term problems, it's not doing much to help the long-term nightmare.To continue reading, please click here...
China Calls for a "De-Americanized World"
Yesterday (Monday), Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business' "Varney & Co."to respond to China's newly released blast on U.S. foreign policy.
The statement was released in Chinese state-run media yesterday. It calls for a "de-Americanized world," and that's not all.To continue reading, please click here...
What a Debt Ceiling Stalemate Will Do to the Market
Yesterday (Monday), Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business' "Varney & Co."to make projections about what a stalemate on the debt ceiling will do to the market.
We are a little more than 24 hours away from the day that Treasury Secretary Jack Lew has said we'll exhaust the "extraordinary measures" and go over our debt limit. But even with the impending deadline, over the last five days the market has shakily climbed, with the Dow up 2.35%, Nasdaq up 1.16%, and the S&P 500 up slightly to 1.9%.To continue reading, please click here...
How Much Does the Government Shutdown Cost?
While the U.S. government shutdown may merely be an afterthought or an inconvenience for some people, it's costing the economy and taxpayers plenty.
So how much does the government shutdown cost?
The daily tab for the government shutdown is a whopping $160 million.To continue reading, please click here...