On Tuesday (Oct. 23), the European Commission rejected a draft of the Italian government's 2019 budget, rattling markets and setting investors on edge.
Following the report, the Dow Jones Industrial Average fell as much as 442 points, adding to October's severe losses.
On Tuesday (Oct. 23), the European Commission rejected a draft of the Italian government's 2019 budget, rattling markets and setting investors on edge.
Following the report, the Dow Jones Industrial Average fell as much as 442 points, adding to October's severe losses.
In the ten years since the 2008 financial crisis, Wall Street has staged a historic recovery, generating spectacular returns for investors and putting market instability in the rearview mirror.
Last month, Congress agreed to free thousands of banks from tight restrictions put in place by the 2010 Dodd-Frank law - legislation put in place to prevent a new financial crisis.
According to Money Morning Capital Wave Strategist Shah Gilani, we shouldn't be surprised.
"It's no surprise that Congress is pushing bank deregulation," Gilani said. "After all, it's a midterm election year, and both parties want bank and financial services money directed their way."
Ever since the Republican Party assumed control of Congress in 2012, conservative leaders have pushed to roll back banking regulations in an effort to turbocharge financial growth.
As Money Morning Capital Wave Strategist Shah Gilani points out, this isn't new. "It's no surprise that Congress is pushing bank deregulation.
Mario Draghi issued a dire warning about President Trump's latest moves to repeal Dodd-Frank's Wall Street reforms.
The head of the European Central Bank believes a "global financial crisis" will result from Trump's actions.
Only a short-covering rally on Friday saved stocks from a truly horrendous performance last week.
The Dow Jones Industrial Average lost 231 points or 1.4% to close at 15973.84 on the week while the S&P 500 dropped 15 points of 0.8% to end the week at 1864.78. The Nasdaq Composite Index fell 0.6% on the week to finish at 4337.51.
China's grave dancers have taken great pleasure in convincing millions of investors that the nation will never succeed based on any number of erroneous arguments...
...not democratic
...not capitalist
...not worthy of world leadership
Underneath it all, this was little more than thinly veiled contempt for Beijing's 35-year-old "one child" policy. Called yousheng, the law has averted an estimated 400 million births over the years in the name of modernization and efficient resource consumption.
Now that law's been scrapped, and couples will be allowed to have two children.
The White House and much of the mainstream media wasted no time posturing after the announcement. Press Secretary Josh Earnest, for example, noted that the policy is a "positive step," but that "we also look forward to the day when birth limits are abandoned altogether." Amnesty International said bluntly that the policy change was "not enough."
They're missing the point.
China's policy reversal is the gutsiest move yet in the ongoing global financial crisis. It's a game changer of the highest magnitude. Moreover, it's great news for savvy investors.
Today we're going to talk about why and, of course, how to align your money for maximum profits...
Here's how to align your money for maximum profits.
This Goldman Sachs financial crisis "third wave" is upon us. But what exactly were the first two waves, and aren't we through the financial crisis yet?
Yesterday (Monday), the U.S. Federal Reserve System approved a rule to require the nation's largest banks to hold a larger capital buffer.
These "capital surcharges" are in addition to the 7% capital requirements set forth in the Basel Accords in 2010.
There are two takeaways from this action....
A Greek default is inevitable. Years of piling up bailout loans without a reprieve in the Greek debt crisis prove that.
But it's not just the 300 billion or so euros in Greek debt are the problem. It's the complicated spider web of cross-collateralizations and derivative trades tied to Greek debt that are the real terror.
Here's how a Greek default could be a much bigger problem than you're being lead to believe...
Editor's Note: Shah spotted this crisis unfolding. It affects your money, so he wanted to let you know about it immediately. Here's Shah...
Do you remember the financial crisis of 2008?
The one caused by a meltdown in mortgages... trillions of dollars of which were owned and "guaranteed" by government-sponsored enterprises Fannie Mae and Freddie Mac?
Do you remember that Fannie and Freddie had to be bailed out by the government - I mean taxpayers - so their total implosion wouldn't trigger a global depression?
Well, the man behind their bailout, former Treasury Secretary Henry Paulson, remembers, and vividly.
He's now going public with his recollections because Congress is blocking theirs out... reaping the profits... and setting the table for a repeat performance... Full Story...
The U.S. Justice Department slapped Standard & Poor's Rating Services with a lawsuit claiming the agency sidestepped its own standards when rating mortgage bonds that collapsed during the financial crisis, resulting in billions of dollars in losses for investors.
U.S. Attorney General Eric Holder's civil charges, filed late Monday against S&P, are the first federal enforcement charges against a credit rating firm over the financial crisis.
Reports say the government is going after S&P to the tune of more than $1 billion.
Following a report in The Wall Street Journal Monday afternoon that the government planned to file the suit, S&P acknowledged it was expecting the action and claimed the firm was being wrongly punished by the U.S. government for "failing to predict" the housing meltdown or financial crisis.
New York-based S&P, one of the three major rating firms, has denied any wrongdoing. The firm said in a statement before the government filed the suit that it would be "entirely without factual or legal merit."
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Young Americans are falling deeper and deeper into a financial crisis that will be nearly impossible to escape from in their lifetimes.
Unfortunately, the problems start at a very young age. Not only do a record number of school-age children live in poverty, but the number of homeless children in the public school system has reached an all-time high.
Even young adults who are able to attend college have trouble supporting themselves after graduation. Students take on mountains of debt to pay for school, but all too many of them can't find a decent job that covers their bills and their loans.
And those who do find jobs will likely be working for many more years than previous generations. That's because Social Security is expected to run out well before today's youngest workers retire. Those who have failed to save enough will end up working into their 60s, 70s and 80s.
"We don't know how the story ends, but we know how the story is beginning," Paul Taylor, executive vice president of the Pew Research Center, told CNN. "At the beginning, today's young people are not doing better than yesterday's young adults."
Here are 14 startling statistics painting a bleak financial picture for many young Americans.
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