Over 90 Banks Miss Their Bailout Payments
More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.
Jobless claims rise sharply to 472,000
The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.
Russia to Buy Canadian, Aussie Dollars for First Time
Russia may add the Australian and Canadian dollars to its international reserves for the first time after fluctuations in the U.S. dollar and euro.
Price increases fuel fears of food ‘crises’
Food commodity prices will increase more than previously expected in the next decade because of rising energy prices and developing countries’ rapid growth, two leading organisations said on Tuesday, worsening the outlook for global food security.
Gates, Buffet on mission to get billionaries to give half their wealth
Just over a year ago, in May 2009, word leaked to the press that the two richest men in America, Bill Gates and Warren Buffett, had organized and presided over a confidential dinner meeting of billionaires in New York City. David Rockefeller was said to have been a host, Mayor Michael Bloomberg and Oprah Winfrey to have been among those attending, and philanthropy to have been the main subject.
Treasury Dept: China’s US govt debt holdings hit 2010 high
China’s holdings of US debt climbed to the highest level this year, the US Treasury said Tuesday even as Beijing stepped up attacks on the United States for its burgeoning debt.
American on mission to kill bin Laden arrested
“We initially laughed when he told us that he wanted to kill Osama bin Laden,” said Khan. But he said when officers seized the pistol, the sword and night-vision equipment, “our suspicion grew.”
Nightmare vision for Europe as EU chief warns ‘democracy could disappear’ in Greece, Spain and Portugal
Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken to tackle the debt crisis, the head of the European Commission has warned.
8 Traits for Financial Success
Did you know that when you look at the top 30% of the population of America in terms of wealth and success, nine out of 10 of those folks weren’t there a decade ago? That’s one of the things I learned in conducting a study of 5,000 Americans for my book “The Difference.”
U.S. Identifies Vast Riches of Minerals in Afghanistan
The United States has discovered nearly $1 trillion in untapped mineral deposits in Afghanistan, far beyond any previously known reserves and enough to fundamentally alter the Afghan economy and perhaps the Afghan war itself, according to senior American government officials.
NEW WEBINAR: The Retirement Timebomb
LIVE WEBCAST: JUNE 24 @ 8:00PM CST THE RETIREMENT TIMEBOMB Overcoming 7 Financial Landmines That Can Destroy Your Retirement Sign up now for our upcoming webinar scheduled for June 24 @ 8:00pm (CST). Register now for our free webcast, and you will learn: – An overview of the ideal financial plan as we head into […]
Martin Weiss: Glimpses of the End Game
Anyone not blinded by greed can plainly see the sick cycle we’re in: First, the government helps create a great asset bubble. Next, the government-created bubble bursts under a dark cloud of hardship for millions of Americans, and …
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund.
Obama Requests Another $50 Billion in State and Local Aid
Concern over the nation’s mounting debt could snarl the passage of President Barack Obama’s proposal to provide more aid to state and local governments hit by the economic downturn.
FTMWeekly Financial Radio Show: Is It Time to Buy the Euro?
Podcast: Play in new window | Download (Duration: 57:40 — 52.8MB) | Embed
Time to Buy the Euro? On this week’s program, Jerry Robinson provides his insights concerning the U.S. National Debt, the price of gold, along with an in-depth look at the other important headlines of the week. Our special guest interview is with Tim W. Wood, CPA (Cycles News and Views newsletter). Mr. Wood discusses his […]
Jim Rogers: Now May Be the Time to Buy the Euro
Everybody is so bearish about the euro that it looks like now is a good time to buy the single European currency, famous investor Jim Rogers told CNBC Thursday.
As Gold Hits Record, Central Banks in Focus
Gold’s surge to a record sparked speculation that central banks may be stepping up purchases of the precious metal. Tuesday, gold contracts for June delivery rose $4.70, or 0.4%, to $1,244 a troy ounce, a record settlement price on the Comex division of the New York Mercantile Exchange.
George Soros: ‘We Have Just Entered Act II’ of Financial Crisis
“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.”
UBS Forecasts: Gold, the ‘ultimate currency,’ to hit $1,500
AG said today in a report that projects prices will hit $1,500 (U.S.) an ounce in the next 12 months and says anything below $1,200 represents a buying opportunity.
Home repossessions hit record high in May
U.S. foreclosure activity fell in April as lenders repossessed homes at a record pace but started far fewer new actions against struggling homeowners, signaling a plateau in loan failures, RealtyTrac said on Thursday.
Ten Benefits of Expatriation
The following is an excerpt from the free 29-page American Expatriation Guide, written by a former U.S. citizen who wants to remain anonymous. Read what he has to say – from a “been there, done that” perspective – and maybe take your own first steps to move to greener pastures. Everybody has their own personal […]
IMF: Risks to global economy have ‘risen significantly’
The risks to a robust global recovery have ‘risen significantly’ as many governments struggle with debt, a leading official from the International Monetary Fund has warned.
OPEC: 2010 demand picture uncertain
OPEC on Wednesday slightly revised up its forecast for world economic growth but left 2010 oil demand largely unchanged as Europe’s debt crisis, an oversupply of crude in the market and a potential cooling in China’s growth pointed to “economic signs that are not rosy.”
U.S debt to rise to $19.6 trillion by 2015
The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.
Laffer: Tax Hikes and the 2011 Economic Collapse
People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.
Gold price hits new record as it breaks through $1,250
The price of gold rose to an all-time high point above $1,250 an ounce on Tuesday, as investors nervous about the weak state of the global economy sought safety in the precious metal.
DOW JONES Slides To 7 Month Low; GOLD Reaches $1250/oz
Stocks fell on Monday in a late-day selloff that took the Dow Jones Industrial Average below its lows of the May 6 “flash crash.”
The Dow ended down 115.48 points, or 1.2%, at a seven-month low of 9816.49 and below 9869.62, its low-point of the May 6 slide. That day, buyers rushed into the market at that level, helping pare a 1,000-point drop to a decline of 347.80 points.
Top Central Banks Not Planning Shift Out of Euro
Some of the world’s richest central banks will not stop investing in the euro, supporting its reserve status, despite the sovereign debt crisis hammering the euro zone’s currency, government sources said.
Bilderberg 2010: Final List of Participants
Here’s the list of attendees at the 2010 Bilderberg meetings.
U.S.’s $13 Trillion Debt Poised to Overtake GDP
By Garfield Reynolds and Wes Goodman June 4 (Bloomberg) — President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.” The CHART OF THE DAY tracks U.S. gross domestic product and […]
“The Retirement Time Bomb” Overcoming 7 Financial Land Mines That Can Destroy Your Retirement
Description: In this informative webinar, you will learn: An overview of the ideal financial plan as we head into the future. A Biblical worldview on the future of investing. An unusual prediction on where the financial markets may be heading based upon Bible prophecy. How to set financial goals in difficult economic times like these. […]
(VIDEO) Man who exposed Bilderberg reveals conspiracy secrets to EU
Secretive and elite – the Bilderberg group, which unites some of the World’s most powerful people, has been meeting behind closed doors for decades
The PIIGS Are Getting Hungary
Podcast: Play in new window | Download (Duration: 52:38 — 48.2MB) | Embed
On this week’s program, Jerry Robinson gives his insights concerning the widening European Debt Crisis, the BP Oil Spill, along with an in-depth look at the other most important headlines of the week. Our special guest interview is with Paul Nolte, CFA (Dearborn Partners, Managing Director). Mr. Nolte provides his market outlook for equities for the next several months.
Government Jobs Account for 95% of May Job Increases
American companies hired fewer workers in May than forecast and workers dropped out of the labor force, indicating government support is still needed to spur economic growth. Private payrolls rose by 41,000, Labor Department figures showed today, trailing the 180,000 gain forecast by economists. Including government workers, employment rose by 431,000, boosted by a jump in hiring of temporary census workers. The jobless rate fell to 9.7 percent from 9.9 percent.
U.S. National Debt Tops $13 Trillion Mark
The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill.
Feds halt new oil drilling in Gulf
The Obama administration is blocking all new offshore drilling in the Gulf of Mexico, a day after regulators approved a new permit for drilling in shallow water.
Fed’s Hoenig lays out plan to hike interest rates
Thomas Hoenig, the president of the Kansas City Federal Reserve bank, laid out on Thursday his proposed plan to take short-term interest rates from near-zero to 4.5%. In a speech in Bartlesville, Okla., Hoenig said the country pays a high cost for low interest rates, suggesting that the financial crisis stemmed from the very low interest rates of 2002-2005.
Goldman Sachs sold $250 million of BP stock before spill
The brokerage firm that’s faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something else: the stock of British oil giant BP.
According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman’s sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP’s stock during the quarter.
FTMQuarterly Newsletter – Spring 2010 Issue (PDF)
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