Archives for January 2009

January 2009 - Page 2 of 12 - Money Morning - Only the News You Can Profit From

Global Investment News Briefs

FOMC Meeting Offers No Solutions; First Wells Fargo Loss Since 2001; Total Buys Oil-Sands Explorer; AT&T Posts 4Q Decline; Boeing to Double Job Cuts; Time Warner Cuts 700 Jobs; UBS Reduces Bonuses; Ford’s Fourth-Quarter Loss The Federal Open Market Committee yesterday (Wednesday) left its benchmark Federal Funds rate at a range of 0% to 0.25%. […]

Read More…

IOL: Global Unemployment Could Exceed 50 Million in 2009

By Mike Caggeso Associate Editor Money Morning The global financial crisis could wipe out 30 million jobs worldwide by the end of 2009, said the International Labor Organization (IOL), an agency of the United Nations. The best-case scenario would be 18 million jobs lost, which would amount to a global unemployment rate of 6.1%. The […]

Read More…

FDIC May Run “Bad Bank,” Although Nationalization Concerns Remain

By Jason Simpkins Managing Editor Money Morning The Federal Deposit Insurance Corp. (FDIC) could soon establish a "bad bank" to absorb financial institutions' toxic assets. The bad bank initiative could lead to the seizure of many U.S. banks, but would stop short of nationalizing the banking sector. FDIC Chairman Sheila Bair is pushing for control […]

Read More…

Global Investment News Briefs

FOMC Brainstorms; Dimon and Lewis Bet Big on Financials; Former BofA CEO Thain Reinvents Self; Yahoo! Posts Fourth-Quarter Loss; Consumer Confidence Hits Record Low; S&P/Case-Schiller Housing Index Plunges 18% The Federal Open Market Committee (FOMC), the policymaking arm of the U.S. Federal Reserve, will conclude a two-day meeting today (Wednesday), and investors are expecting members […]

Read More…

What Companies Are Profiting From China’s Commodities Crusade?

By Jason Simpkins Managing Editor Money Morning While the rest of the world is grappling with the global slowdown, China is figuring out ways to exploit it. Over the past few months, China has capitalized on the financial turmoil that has paralyzed the world's "developed" economies by stocking up on cheap commodities, weeding out competition […]

Read More…

Obama’s New Stimulus Plan May Be the Needle That Pops the Treasury-Bond Bubble

Frighteningly, like the rush into tech stocks, then the rush into real estate, and then the rush into commodities, the rush into U.S. government bonds has created a Treasury bubble. In a cruel twist of economic fate, passage of an aggressive Obama administration stimulus plan could further inflate that bubble – before popping it.

The United States of America is an expensive household to run. In order to pay the nation's bills, the U.S. government levies taxes. When expenditures exceed tax revenue, the government has to borrow money. The United States borrows money by ordering the Treasury Department to sell government IOUs to investors in the form of Treasury bills, notes and bonds, known as "Treasuries."

How much does the government owe? As of Friday, according to TreasuryDirect.gov, total U.S. public debt stood at $10,620,397,126,433.54 ($10.62 trillion) – and counting.

Read More…

Treasury Secretary Geithner Confirmed, Begins Difficult Journey

By Jason SimpkinsManaging EditorMoney Morning Timothy F. Geithner officially took over as U.S. Secretary of the Treasury after being confirmation from the Senate. Geithner is charged with the task of quelling the financial turmoil that has ravaged the U.S. economy and shepherding the United States out of a recession. Geithner was sworn in as Treasury […]

Read More…

Global Investment News Briefs

Pfizer Buys Wyeth for $68 Billion; Existing Homes Sales Rose 6.5%; McDonald's Posts 5.8% Sales Growth; Freeport McMoran Lowers Sales Targets; Lincoln National Corp Cutting Staff 5%; GM Cuts More Jobs, Production; Petrobras to Cut Costs by $4 Billion; Halliburton Settles Bribery Investigation Pfizer Inc. (PFE), the world's No. 1 drug maker, said yesterday (Monday) […]

Read More…