A consumer complaint is ricocheting around the world: low interest rates are eating away at savings. Bill Taren, a retiree near Orlando, Fla., discovered in August that his credit union would pay only 0.4 percent annual interest on his saving account, even though inflation averaged 2.8 percent over the last year. So he and his wife decided to just stuff their money in the mattress, he says, because at least there “we can see the cash when we want.”
This month there will be two employment reports. The second one — coming on Sept. 27 — will get very little attention but could be more important to the Republicans than last Friday’s disastrous jobs report.
Wow! We’ll soon cross Sixteen Trillion Dollars in Federal Debt! S-i-x-t-e-e-n T-r-i-l-l-i-o-n D-o-l-l-a-r-s. That’s a lot of vote buying even for Washington. Is this ruin? Have we indentured our children into servitude? Solomon warned borrowers will be slaves to their lenders. Add $120 plus trillion in unfunded forthcoming liabilities and, well, we’re doomed.
The United States has slipped further down a global ranking of the world's most competitive economies, according to a World Economic Forum (WEF) survey released on Wednesday.
Food-stamp use reached a record 46.7 million people in June, the government said, as Democrats prepare to nominate President Barack Obama for a second term with the economy as a chief issue in the campaign.
DEEPCASTER FORTRESS ASSETS LETTER
DEEPCASTER HIGH POTENTIAL SPECULATOR
DEEPCASTER HIGH YIELD PORTFOLIO
Wealth Preservation Wealth Enhancement
Profit Nuggets From Grand Delusions
Building infrastructure at breathtaking speed. Creating the world's factory. Stringing together quarter after quarter of 7%, 8%, 9% and even 10% growth. These are some of the strengths of China's economic system. And sometimes, as we watch the U.S. and global economy struggle with the fallout from a financial crisis that started in the United States, or the economies of Europe sink again into recession, it can seem as if China's system has only strengths.
In an election year, even the release of a routine, semi-annual report by the Congressional Budget Office can become fodder for grasping politicians. Obama's campaign claimed that Republicans are holding the middle class hostage by demanding tax cuts for the rich, while Romney's countered that both high unemployment and high deficits are Obama's fault.
As strange as 2012 has been so far, I fear that things are about to get a whole lot stranger. Not that we haven't had some very unanticipated events happen this year up to this point. The following are 8 economic threats that we were not even talking about at the beginning of the summer....