The December FOMC meeting policy announcement has been issued: The Fed has decided to slightly scale back its gargantuan monthly bond-purchases by $10 billion per month. According to the policy announcement: The housing sector remains a problem; Inflation is still too low for the Fed’s taste as the Fed’s inflation target remains 2%, and anything below that number ”could pose risks to economic performance.” For the Fed, everything hinges upon an improved labor market outlook. Bernanke added that current political gridlock over America’s most pressing economic issues is “restraining” economic growth. (Fiscal policy vs. monetary policy ‘unbalanced.’) So what is Bernanke’s solution? It is what it always was: “appropriate policy accommodation.” (Translation: Perpetual easy money policies.)
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TOM CLOUD: The Indian government dropped the gold tax from 10% to 6%, which will bring a flurry of new buyers into the gold market.
Mortgage apps are down 60% from 2013 highs.
Just for fun…
One CFTC official familiar with the matter said the discrepancy could be as high as $55 trillion…
Warren Buffett tops this year’s list with his wealth soaring by $37 million a day. (That’s $1.54 million per hour, or $25,694 per minute!)
The Algal Research Journal has documented the breakthrough, which speeds up a naturally occurring process to produce crude oil from algae from about a million years to just minutes.
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It seems the U.S. espionage was aimed at both Russian nuclear weapons and its oil exploitation of the arctic.
“Our strategic posture is moving from reactive to proactive, we have a new defence policy.”
“If we are attacked, in certain circumstances we will of course respond with nuclear weapons.”
As shoppers swiped or punched in their numbers on the checkout keypad, the hackers copied every single number.
Learn how to protect yourself.
New York State Assemblyman Steve Katz sure has had a change of heart since he was busted for possession.
Seventy-two percent of Americans say big government is a greater threat to the U.S. in the future than is big business or big labor.
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Topic: While gold is down 25% in 2013, our P.A.C.E. Portfolio, which includes gold and silver, is up 16%, testifying to the power of diversification.
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“A man lacking in sense pledges and becomes guarantor in the presence of his neighbor.”
Proverbs 17:18
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