The U.S. economy is currently two-for-two in its attempts to skirt recession 2013.
The first came after we narrowly avoided a tumble over the fiscal cliff with a down-to-the-wire deal on New Year's Day. The second came Wednesday with the passage of a three-month extension on raising the debt ceiling.
Had we not averted one or the other, the Congressional Budget Office warned...
Fiscal Cliff 2013
The Greatest Investing Mistake You'll Ever Make
I wrote an article for Money Morning on Tuesday entitled: "The Great Rotation Makes Stocks a Generational Buy."
The story drew several comments from readers - some in agreement, others... not so much.
For instance, reader Mike W. wrote in quoting the article:
"Last week $22 billion flowed into mutual funds and ETFs. That's the second-largest weekly flow on...
The Fiscal Cliff Deal Just Made Bonds Even More Risky in 2013
Going over the fiscal cliff would have been bullish for long term U.S. Treasuries. But that didn’t happen. Instead we got a deal with modest tax increases, tiny spending cuts and $64 billion worth of tax-exemption pork.
Now bonds have become toxic enough to make you wonder whether or not the bond bubble has sprung a leak.
But there’s quite a bit more to this story than just U.S. Treasuries.
Fiscal Cliff Deal Tax Changes for 2013
On Dec. 31, 2012 Washington hammered out a last-minute agreement for tax deals to avert the looming fiscal cliff.
A collective sigh of relief could be heard by taxpayers even though Congress did not fix spending cuts.
Now as we begin gathering documents for the April 15 tax filing date, there are new tax laws from the fiscal cliff deal that will affect everyone.
One immediate thing that will be noticed is the Internal Revenue Service (IRS), thanks to the last-minute changes, is processing tax returns at a...
$1 Trillion Coin Isn’t the Right Answer to Our Debt Ceiling Crisis
There's increasing support for the idea of minting a $1 trillion coin to help the United States avoid hitting the debt ceiling.
Even those supporting the idea - including The New York Times' Paul Krugman - admit it sounds "silly," but say it deserves consideration in that it could help solve one of our country's biggest economic issues.
"By minting a $1 trillion coin, then depositing it at the Fed, the Treasury...
Here's Why The Fiscal Cliff Deal is Great News For Dividend Stocks
I wish I had a nickel for every scary story I read about dividend stocks and the fiscal cliff over the last four months.
I heard so many, I could probably take the rest of the year off.
Of course, a funny thing happened on the way to this great apocalypse: dividend stocks are not only alive and well, but stronger than ever.
Why The Fiscal Cliff "Deal" is Spelled P-O-R-K
After narrowly missing the fiscal cliff, the President went out of his way to thank the Senate and Congress for getting things done.
Granted, it wasn't an Academy Award speech, but it could have been given the performance he delivered as he congratulated everybody from his "extraordinary" Vice President Joe Biden to Harry Reid, Nancy Pelosi and even Speaker Boehner.
It was quite a spectacle really, but puuuulleeeassssse...now...
Fiscal Cliff Deal Gives Energy Investors the Chance to Make a Bundle
Marina and I are still here in the Bahamas where our Internet and TV reception has been very sporadic over the past two weeks. It started improving on New Year's Day, just in time for us to watch our favorite situation comedy.
You know the one. It's called Congress.
And after much political jockeying and self-serving speeches from a largely empty floor, the House finally voted to pass the Senate's stopgap fiscal cliff Band-Aid....
The Cold Hard Truth About the Fiscal Cliff Deal
In the end, a last-minute deal emerged. Just like that, the fiscal cliff crisis was averted.
In the waning hours of New Year's Day, Congress voted to avoid a large package of tax increases, along with some modest spending cuts.
Not surprisingly, the markets just loved it. The Dow soared over 200 points on the open and never looked back.
But first, let's call this deal what it is: a late-day compromise that...
Stock Market Today: Fiscal Cliff Deal Leads to Rally
Passage of a congressional measure to avert the fiscal cliff gave a big boost to the U.S. stock market today (Wednesday), the first trading day of 2013.
Right out of the gate, all three major indexes jumped. Just before 2 p.m., the Dow Jones Industrial Average had climbed 232 points. The Standard & Poor's 500 Index jumped 25 points, and the Nasdaq rose 70 as markets cheered the news.
"We are happy that we are halfway home to fixing...