Archives for August 2013

August 2013 - Page 14 of 14 - Money Morning - Only the News You Can Profit From

Obama Vacation to Martha’s Vineyard is Their Sixth in 2013 ... So Far

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Everyone needs a vacation occasionally, if only to relax, collect your thoughts and
just chill out.

Obama vacationBut too much of anything is rarely good, especially when it means President Obama is away from critical duties in Washington.

The sixth Obama vacation of the year starts August 10, when the President and his family will skip off to lovely Martha's Vineyard.

The First Family has been on vacations once monthly since January and has displayed impeccable taste and style when choosing vacation spots. And those kinds of prime vacation spots don't come cheap.

It's almost like they sit around the table at night and thumb though travel magazines and say, "This looks nice, gas up Air Force One. Let's go see Martha's Vineyard!" Then everybody packs their bags, the barking dog and giggling kids — and off they go.

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Experts Predict 30-Day Window for Gold

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We've been studying the resource markets – and gold in particular – for over 30 years. And have seen almost every cycle the yellow metal has gone through.

One thing is certain in our opinion: International investors, central banks and corporations are all looking to buy gold… And these slow summer months are likely providing the best price.

Asian investors, especially in China and India, are buying coins and bullion like mad. Sales are up 22% annually in China and 52% in India.

FOMC Meeting: Fed Just Backtracked on QE Taper Talk

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The Federal Open Market Committee (FOMC) meeting ended today (Wednesday) with word that the Fed plans to the stay the course on QE for now, backtracking from earlier hints it might begin tapering this fall.

"For all those looking for clear guidance on when quantitative easing will end, well, you will have to wait a little longer," Joel Naroff, president and chief economist at Naroff Economic Advisors Inc., wrote in a research note. "Indeed, there may have been some walking backwards today."

Money Morning Capital Wave Strategist Shah Gilani said it's no surprise the Fed has backed away from talk of tapering.

An Obamacare Bailout: A Struggling City's Best New Budget Tool

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Call it an "Obamacare Bailout" – while millions of Americans look for ways to opt out of Obamacare, broke Detroit is trying to get its residents signed up as soon as possible.

You see, Detroit has grossly over-pledged its benefits, pensions and fully-funded health care plans to thousands of public sector employees for decades, while its tax revenue dwindled.

Now Detroit – after filing for Chapter 9 bankruptcy July 18 – can't deliver on its pricey promises.