U.S. exports and imports last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s total trade in 2012 amounted to $3.87 trillion. China had a $231.1 billion annual trade surplus while the U.S. had a trade deficit of $727.9 billion.
“It is remarkable that an economy that is only a fraction of the size of the U.S. economy has a larger [...]
Japan has come under fire this week for policies that critics say deliberately devalue the yen, but analysts say fears of an outright currency war are overblown.
The political rhetoric became heated after the Bank of Japan announced plans to makeopen-ended asset purchases in an effort to re-inflate the Japanese economy, which recently slipped into recession.
Jens Weidmann, president of Germany’s central bank, criticized the BoJ for caving under pressure from newly elected prime [...]
The following is an excerpt from a recent issue of Private Wealth Advisory. In it I reveal that Germany has in fact already implemented a working group to assess the cost of Greece leaving the EU. Moreover, numerous multinationals are now preparing for this outcome as well.
If you’ve looking for investment ideas on how to profit from this collapse (the gains will be even bigger than those produced during the 2008 Crash) Private [...]
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Welcome to Capital Account. Today, European Central Bank President Mario Draghi announced a bond-purchase program in the euro zone with no set limit. But why should you, who may be thinking about your future and your retirement, care about Super Mario’s latest policy response? Our guest Susan Fujii editor-in-chief of Kung Fu Finance and an SEC accredited investor says [...]
From Zero Hedge:
Something amusing happened in today’s global capital markets: while European bond markets, especially in the periphery, are sliding following the Spanish downgrade and the Italian bond auction, one market has soared:
That of Greece, which is up nearly double digits (not all that meaningful when you are at 20+ year lows), and whose bankrupt and deposit-free banks are up 20%. Which in turn is pushing U.S. futures higher, despite [...]
Something amusing happened in today’s global capital markets: while European bond markets, especially in the periphery, are sliding following the Spanish downgrade and the Italian bond auction, one market has soared: that of Greece, which is up nearly double digits (not all that meaningful when you are at 20+ year lows), and whose bankrupt and deposit-free banks are up 20%. Which in turn is pushing US futures higher despit the Spanish [...]
German and European Union officials are working on plans, it has emerged, to inject cash into the stricken sector, perhaps using the bail-out funds, the EFSF and ESM.
Officials in Brussels said the contingency strategy to support Spain could be “austerity-lite”, rather than tied with conditions like the Greek and Portuguese bail-outs, to restore confidence more quickly. The bail out could be as much as €80bn(£65bn) rather than €40bn Madrid reckons [...]
03-21) 11:51 PDT WASHINGTON (AP) –
It’s the political cure-all for high gas prices: Drill here, drill now. But more U.S. drilling has not changed how deeply the gas pump drills into your wallet, math and history show.
A statistical analysis of 36 years of monthly, inflation-adjusted gasoline prices and U.S. domestic oil production by The Associated Press shows no statistical correlation between how much oil comes out of U.S. wells and [...]
As Western governments drown themselves in debt the demand for physical gold remains very robust.
Author: David Levenstein Posted: Tuesday , 22 Nov 2011
Even though gold prices have not reacted as one would expect in light of the global debt crisis that continues to deteriorate, the demand for physical gold remains extremely robust. To me this is the lull before the storm and I believe that gold is building up for [...]
General Electric, with a larger lobbying budget than any other company in America, has long lobbied for and profited from Big Government. Since Obama tapped GE CEO Jeffrey Immelt as Job Czar, this critique has spread throughout the Right.
When it came out that GE’s U.S. corporate income tax bill for 2010 was $0, anti-GE sentiment grew on the Left and Right. Finally, at the [...]
By Paul B. Farrell, MarketWatch
SAN LUIS OBISPO, Calif. (MarketWatch) — There is a global economic boom coming, but unfortunately, that boom comes only after a systemic collapse of the global economy, markets and capitalism — a collapse that may well eliminate billions of people from the planet. Shocking? Cruel? Brutal? Yes.
But folks, that is the coded message in many recent warnings from environmental economists [...]
Prospects for a deficit-reduction deal were improving, Geithner said on Tuesday as he appeared in a morning blitz of television shows. He said in one appearance that he did not have to reassure foreign buyers of U.S. debt in the wake of S&P’s warning.
Geithner said Democrats and Republicans now agree on the need to put in place “enforceable” targets to slash deficits by some $4 trillion [...]
(Reuters) – Dutch populist politician Geert Wilders was acquitted of inciting hatred of Muslims in a court ruling on Thursday that may strengthen his political influence and exacerbate tensions over immigration policy.
The case was seen by some as a test of free speech in a country which has a long tradition of tolerance and blunt talk, but where opposition to immigration, particularly from Muslim [...]
By Michael Levenson, Globe Staff
US Representative Michael E. Capuano, who decried violent political rhetoric after last monthâ€™s fatal shooting rampage in Tucson, said today he regrets urging union workers at a rally in Boston yesterday to â€œget a little bloody.â€
2009 Globe photo
US Rep. Michael Capuano
“I strongly believe in standing up for worker rights and my passion for preserving those rights may have gotten the best of [...]
Sometimes it’s necessary to get out on the streets and “get a little bloody,” a Massachusetts Democrat said Tuesday in reference to labor battles in Wisconsin.
Rep. Michael Capuano (D-Mass.) fired up a group of union members in Boston with a speech urging them to work down in the trenches to fend off limits to workers’ rights like those proposed in Wisconsin.
“Iâ€™m proud to be here [...]
Significant global imbalances remain Ã¢â‚¬â€œ indeed; the recent global financial crisis has served to exaggerate many of these imbalances. Of grave concern is the unsustainable Federal budget deficit, which may have morphed out of control, with no signs of government constraint over the near-term. The U.S. current account deficit remains at a high level, and will likely weigh on the dollar for years to come. Add to this the inflationary [...]