Pages: 1 2 3 4 5 6 7 8 9 10 11 ... 102 >>

U.S. student loan debt reaches $1.1 trillion, $4 billion more than all credit-card debt.

November 26th, 2014
Categories: Economic

Link: http://investmentwatchblog.com/u-s-student-loan-debt-reaches-1-1-trillion-4-billion-more-than-all-credit-card-debt/

Household debt—including mortgages, credit cards, auto loans and student loans—rose $78 billion between July and September to $11.7 trillion. Late payments on one fast-growing category of debt—student loans—are worsening.

US stocks rise early after rate cut from China

November 21st, 2014
Categories: Economic

Link: http://www.democraticunderground.com/1014949285

U.S. stocks rose sharply in early trading after a surprise interest rate cut in China and a hint of further stimulus for Europe from the head of that region's central bank.

New York Fed, Goldman in Criminal Investigation for Sharing Confidential Information

November 20th, 2014
Categories: Economic

Goldman accused of exploiting aluminum storage rules - Video

November 20th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/Goldman_accused_of_exploiting_aluminum_storage_rules/39294/0/38/38/Y/M.html

Senate panel accuses Goldman Sachs of manipulating aluminum storage rules in order to line its own pockets. Aluminum slabs moved from one warehouse facility to another, says the 396-page report by the Senate Permanent Subcommittee on Investigations, resulting in record U.S. fees for storing and shipping aluminum Result; higher costs for aluminum-product manufacturers and consumers.

Paying Up: Payday Loans Prey On The Desperate

November 20th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/Paying_Up%3A_Payday_Loans_Prey_On_The_Desperate/39309/0/38/38/Y/M.html

“for a loan of $300, a typical borrower pays on average $775, with $475 going to pay interest and fees “annualized interest rates often ranging from 213 percent to 913 percent.” Interest on a payday loan could vary between 4.4% and 19% – per week.

Wall Street is Taking Over America’s Pension Plans

November 20th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/Wall_Street_is_Taking_Over_America%E2%80%99s_Pension_Plans/39305/0/38/38/Y/M.html

Wall Street agenda has a plan to move more of the $3 trillion dollars in unguarded government pension funds into privately managed, high-fee investments. likely to result in more pension money going into investments which offer great benefits for Wall Street but do little for the broader economy.

Univ. of California debates raising tuition by 25 percent amid objections from Gov. Jerry Brown

November 20th, 2014
Categories: Economic

Link: http://www.rawstory.com/rs/2014/11/univ-of-california-debates-raising-tuition-by-25-percent-amid-objections-from-gov-jerry-brown/

The University of California would raise tuition by more than 25 percent over five years under a plan passed on Wednesday by a committee of the system’s governing board, a move strongly opposed by Democratic Governor Jerry Brown.

Asian demand for crude to drive switch to renminbi

November 20th, 2014
Categories: Economic

Link: http://stratrisks.com/geostrat/21611

The increasing demand for crude in Asian countries such as China was enough reason for the region to prepare to pay for trade in the Chinese currency renminbi (RMB), an HSBC official said.

Luxembourg PM rejects EU single tax plans

November 20th, 2014
Categories: Economic

Link: http://www.presstv.com/detail/2014/11/19/386677/luxembourg-pm-rejects-eu-tax-plans/

Luxembourg’s Prime Minister Xavier Bettel has criticized the European Union’s single tax plans, arguing that it should be left to member states to decide. "To say that everyone within the European Union must move toward a single tax policy with the same tax rate, that I'm against,

Cameron warns Putin as Russian president lashes sanctions

November 18th, 2014
Categories: Economic

Link: http://www.theguardian.com/world/2014/nov/14/putin-russia-oil-price-collapse-sanctions-g20

Putin: Russia’s economy has reserves to withstand a collapse in oil revenues; “We are considering all the scenarios including the so-called catastrophic fall of prices for energy resources, which is entirely possible and we admit it,” regarded sanctions as pointless, illegal, likely to harm not just Russian but world trade.

Illinois Pension Debt Soars To $111 Billion

November 18th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/Illinois_Pension_Debt_Soars_To_%24111_Billion/39253/0/38/38/Y/M.html

Would take three years of complete government shutdown, with entire general fund going toward pensions, to break even. Illinois’ unfunded pension liability grew to $111 billion this year, $48 billion increase since 2009. State has 39 cents of every dollar it should have in the bank to pay for future benefits. In the private sector, these funds would be deemed bankrupt.

Walmart Store Holding Thanksgiving Food Drive For Its Own Workers

November 17th, 2014
Categories: Economic

Link: http://www.huffingtonpost.com/2013/11/18/walmart-food-drive_n_4296618.html

The Canton, Ohio, Walmart store is holding a food drive for employees, according to a pair of photos circulated by OUR Walmart, an advocacy organization with ties to the United Food and Commercial Workers Union. Signs attached to bins located in employee backrooms ask workers to “donate food items here so associates in need can enjoy Thanksgiving dinner.”

Ukraine Bank Runs Begin As Poroshenko Plans To Sever Socio-Economic Ties With Separatist-Held Regions

November 16th, 2014
Categories: Economic

Link: http://www.zerohedge.com/news/2014-11-16/ukraine-bank-runs-begin-poroshenko-plans-sever-socio-economic-ties-separatist-held-r

Ukraine's President Poroshenko signed a decree Friday that will explicitly withdraw state support for the regions within a month. Central bank will no longer service bank accounts, could involve cutting energy supplies. Bank runs have already begun across the region with long lines forming at ATMs.

Putin warns Western sanctions could backfire - Video

November 15th, 2014
Categories: Economic

Link: http://www.presstv.com/detail/2014/11/15/386155/putin-western-sanctions-could-backfire/

Russian President Vladimir Putin: Western sanctions imposed on his country over crisis in Ukraine could backfire. “If the resources of our financial institutions are cut off, they can extend fewer loans to Russian companies that work with German partners,”“Sooner or later, it will begin to affect you as much as us.”

The national debt will rise by $1 trillion this year. It is already about to break through the $18 trillion level. Yippee!

November 14th, 2014
Categories: Economic

Link: http://investmentwatchblog.com/the-national-debt-will-rise-by-1-trillion-this-year-it-is-already-about-to-break-through-the-18-trillion-level-yippee/

U.S. government ran a budget deficit of $122 billion in Octobe; Treasury Department. The shortfall is $31 billion, 34%, more than a year ago. The government spent $334 billion in October, an increase of 16% from last October. Receipts totaled $213 billion in October, an increase of 7%.

Putin "Prepares For Economic War", Buys Whopping 55 Tonnes Of Gold In Q3

November 14th, 2014
Categories: Economic

Link: http://www.zerohedge.com/news/2014-11-13/putin-prepares-economic-war-buys-stunning-55-tonnes-gold-q3

Russia, according to latest data from The World Gold Council (WGC) buying gold in huge size. Dwarfing the rest of the world's buying in Q3, Russia added 55 tonnes to its reserves. Putin is taking advantage of lower gold prices to pack the vaults of Russia's central bank with bullion as it prepares for the possibility of a long, drawn-out economic war with the West.

Russia sanctions boomerang on US, says Putin - Video

November 14th, 2014
Categories: Economic

Link: http://www.presstv.com/detail/2014/11/14/385981/russia-sanctions-boomerang-on-us/

Sanctions imposed on Russia over its alleged involvement in the Ukrainian crisis boomerang on the United States. Does certain damage to us, butis also harmful to the United States,”; Vladimir Putin, who is in Brisbane, Australia, to attend the G20 summit, which gathers the world’s 20 major economies.

Police, anti-austerity protesters clash across Italy - Video

November 14th, 2014
Categories: Economic

Link: http://www.presstv.com/detail/2014/11/14/386026/police-protesters-clash-across-italy/

More than 20 Italian cities including the capital city of Rome and northern city of Milan, have witnessed confrontations between police forces and anti-austerity protesters Friday as trade unions, students, and migrants staged strikes and rallies against labor market and other reforms.

Alan Greenspan: Gold is Stronger Than US Dollar - Video

November 13th, 2014
Categories: Economic

Link: http://www.voicesofliberty.com/video/alan-greenspan-gold-is-stronger-than-us-dollar/

Speaking on a chapter dedicated to gold in his new book, Alan Greenspan Chairman of the Federal Reserve System from 1987-2006 said, “gold is the premier currency where no fiat, including the dollar, can match it.”

BRICS, Eurasian Economic Union (EEU), Shanghai Cooperation Organization (SCO): Towards a New Global Financial Architecture?

November 13th, 2014
Categories: Economic

Link: http://www.globalresearch.ca/the-brics-the-eurasian-economic-union-eeu-and-the-shanghai-cooperation-organization-sco-towards-a-new-global-financial-architecture/5413714

The BRICS agreed to establish the New Development Bank (NDB) based in Shanghai, pushed by India and Brazil, an alternative to the Western-dominated World Bank. A Contingent Reserve Arrangement will give its members emergency access to foreign currency, might eventually dethrone the dollar as world’s reserve currency. Possible to bypass IMF for loans, thus avoiding austerity requirements.

ISIL announces plan to mint own currency

November 13th, 2014
Categories: Economic

Link: http://www.presstv.com/detail/2014/11/13/385913/isil-announces-plan-to-mint-own-currency/

The ISIL Takfiri terrorist group says it is planning to create its own currency in the form of two gold, three silver and two copper coins, prompting speculations on whether the move is viable. The Takfiri group said motive behind the move was to avoid the “tyranny of the international monetary and financial system,” the currency will make it possible to avoid the “global economic system that is based on satanic usury.”

Traders Are 'Scared As Hell' Of What's Happening In Venezuela

November 13th, 2014
Categories: Economic

Link: http://www.democraticunderground.com/1014943672

Venezuelan investors abandoning ship en masse after government indicatedited iy would not take immediate measures to stop country from sinking deeper into chaos. Highest inflation rate in the world, 64%. Food shortages, much food, household goods imported. Without cash from oil government will not be able to subsidize those imports.

‘Ireland stupid to guarantee banks’ – Timothy Geithner

November 12th, 2014
Categories: Economic

Link: http://wakeupfromyourslumber.com/ireland-stupid-to-guarantee-banks-timothy-geithner/

US President Obama’s most senior economic official during the global financial crisis claimed Ireland was “stupid” to guarantee the banks, said the country couldn’t afford the 2008 blanket guarantee, which lumped €64bn of bank losses on taxpayers. “They were eight times the size of their economy.

PRIMARY SILVER MINERS: Losing Nearly $3.00 For Every Ounce Of Production

November 12th, 2014
Categories: Economic

Link: http://srsroccoreport.com/primary-silver-miners-losing-nearly-3-00-for-every-ounce-of-production/primary-silver-miners-losing-nearly-3-00-for-every-ounce-of-production/

Only one primary silver miner is making money at the current price of silver. This is Tahoe Resources. Tahoe is an exception because it is mining 5+ million ounces of silver a quarter at a staggering 550+ grams per ton.

Voting For The Best-Fit Hat For The Master

November 12th, 2014
Categories: Economic

Link: http://viewsandpreviews.com/voting-for-the-best-fit-hat-for-the-master/

34 Trillion Dollars were created to “Bailout” the banks and institutions foreclosing homes. $11 trillion could have paid off all the mortgages on the residential real estate, freeing up billions of dollars a month for consumer spending that could have reinvigorated every sector of the economy.

Swiss Regulator: “Clear Attempt To Manipulate Precious Metals ”

November 12th, 2014
Categories: Economic

Link: http://investmentwatchblog.com/swiss-regulator-clear-attempt-to-manipulate-precious-metals-particularly-silver/

Switzerland’s financial regulator (FINMA) found “serious misconduct” and a “clear attempt to manipulate precious metals benchmarks” by UBS employees in precious metals trading, particularly with silver as part of its review of the bank’s foreign-exchange business.

Global banks fined billions in currency probe

November 12th, 2014
Categories: Economic

Link: http://www.democraticunderground.com/1014942622

U.S. Commodity Futures Trading Commission, U.K. Financial Conduct Authority ,Swiss Financial Market Supervisory Authority said Citibank, JPMorgan Chase Bank, Royal Bank of Scotland, HSBC Bank and UBS agreed to settlements of $3.4 billion. FCA continuing to investigate Barclays Bank.

China Set to Pump Billions into Russian Real Estate Construction

November 12th, 2014
Categories: Economic

Link: http://russia-insider.com/en/china_politics_business_society/2014/11/12/07-02-56am/china_set_pump_billions_russian_real_estate

Chinese capital to help boost Russian stock of affordable housing by 25 million square meters by 2018. Russia's Vnesheconombank (VEB) is poised to get billions of dollars from China Development Bank for investment in Russian real estate. Deal would "help bring Chinese investment and companies to Russia."

Russia to launch alternative to SWIFT bank transaction system in spring 2015

November 11th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/Russia_to_launch_alternative_to_SWIFT_bank_transaction_system_in_spring_2015/39110/0/38/38/Y/M.html

Russia intends to have its own international inter-bank system up and running by May 2015. The Central Bank of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West.

Venezuela closes Colombia border to fight smuggling - Video

November 10th, 2014
Categories: Economic

Link: http://www.presstv.com/detail/2014/08/12/375017/caracas-begins-antismuggling-operation/

Venezuela closed its borders with Colombia, deployed thousands of troops to fight smuggling of cut-rate gasoline and other products into the country. Estimates smugglers sneak 40 percent of the country’s basic commodities into Colombia, inflicting 3.7 billion in damage on Venezuelan economy annually.

Beijing $40 billion offer to revive the historic Silk Road, starts Central-Asia geostrategic competition

November 10th, 2014
Categories: Economic

Link: http://stratrisks.com/geostrat/21526

Beijing says it will spend $40 billion to revive the historic Silk Road and connect China with Central Asia, the Middle East and Europe. Chinese President Xi Jinping said the ambitious project is designed to “break the connectivity bottleneck” in Asia. It will also secure the supply of Uranium and rare metals from Asia.

China hoarding gold to challenge U.S. dollar

November 10th, 2014
Categories: Economic

Link: http://stratrisks.com/geostrat/21539

Alan Greenspan: if China converted only a “relatively modest part of its $4 trillion foreign exchange reserves into gold, the country’s currency could take on unexpected strength in today’s international financial system.”China boosted its gold reserves by 454 tonnes over the previous five years.

Pepsi and FedEx among Hundreds of Companies Using Luxembourg to Avoid Taxes

November 7th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/Pepsi_and_FedEx_among_Hundreds_of_Companies_Using_Luxembourg_to_Avoid_Taxes/39005/0/38/38/Y/M.html

The tiny European country of Luxembourg has become a tax haven for hundreds of international corporations seeking ways to reduce their tax obligations by billions of dollars. Discovery, made by the International Consortium of Investigative Journalists (ICIJ) from thousands of pages of leaked documents, involves at least 340 companies, including PepsiCo and FedEx.

JPMorgan’s foreign exchange business under criminal investigation

November 7th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/JPMorgan%E2%80%99s_foreign_exchange_business_under_criminal_investigation/39007/0/38/38/Y/M.html

The Department of Justice has opened a criminal investigation into JPMorgan Chase‘s foreign exchange business, similar disclosure by Citigroup. Banks in the U.S. and abroad are facing allegations that they manipulated foreign-exchange rates. Civil enforcement authorities and foreign regulators also investigating its foreign exchange business.

Wal-Mart cuts health benefits for 30,000 part-timers

November 6th, 2014
Categories: Economic

Link: http://www.newsforage.com/2014/11/wal-mart-cuts-health-benefits-for-30000.html

The cut applies to part-timers who work fewer than 30 hours a week -- about 2% of the company's U.S. workforce. More of Wal-Mart's employees signed up for health benefits this year than the company expected, which boosted the company's costs.

Finance experts call for a new global financial order at Beijing conference

November 6th, 2014
Categories: Economic

Link: http://www.blacklistednews.com/Finance_experts_call_for_a_new_global_financial_order_at_Beijing_conference_/38987/0/38/38/Y/M.html

On Nov. 5, top financial experts concluded a conference held in Beijing, China to discuss economic reforms and how the current global financial system could be adapted or changed to function in a rapidly evolving monetary environment

ROLLINGSTONE BLOCKBUSTER: Main Witness In JPMorgan Case BREAKS HER GAG ORDER

November 6th, 2014
Categories: Economic

Link: http://www.democraticunderground.com/10025776965

Alayne Fleischmann; securities lawyer, central witness in one of the biggest cases of white-collar crime in American history. As a deal manager at the gigantic bank, witnessed, then tried to stop, what she describes as "massive criminal securities fraud" in the bank's mortgage operations.

Strike Back: Russian government may ban circulation of US dollar

November 6th, 2014
Categories: Economic

Link: http://stratrisks.com/geostrat/21516

The State Duma submitted a bill banning and terminating the circulation of USD in Russia. If the bill is approved, Russian citizens will have to close their dollar accounts in Russian banks within a year and exchange their dollars in cash to Russian ruble or other countries’ currencies

Gleam is gone as gold prices sink to 4-year low

November 6th, 2014
Categories: Economic

Link: http://www.democraticunderground.com/1014937911

"I think the big reason gold has lost so much ground is because confidence is coming back," says Jim Paulsen, chief investment strategist at Wells Capital Management in Minneapolis

Ottawa, Beijing strike deal on yuan trading hub

November 4th, 2014
Categories: Economic

Link: http://www.theglobeandmail.com/report-on-business/ottawa-beijing-strike-deal-on-yuan-trading-hub/article21438028/

Ottawa and Beijing have struck a deal that will see this country designated as a trading hub for China’s yuan currency, a benefit that will lower the cost of doing business for Canadian companies seeking Chinese markets.

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