If 2011 taught us one thing, it’s that currency investing can be a dangerous business. For instance, the euro – the simplest of hedges against a declining dollar and the U.S. Federal Reserve’s expansive monetary policy – has run into difficulties, losing billions for even the most sophisticated Wall Street banks.Read more »
One of my resolutions since returning from Peru is that I’m going to be more responsive to requests from reporters. I’ve generally tried to weasel out of interviews in the past because they always made me uncomfortable.Read more »
Oil prices have been on a wild ride the second half of 2011, and that’s likely to continue for the foreseeable future. A myriad of factors are contributing to the growing volatility in the energy patch, everything from political unrest in various oil producing nations, weaker fiat currencies, uncertainty in Europe, and fluctuating demand and supply numbers.
This constantly changing data has been a catalyst for oil prices to drop to a low of around $75 and then rally to over $100 in just the last few months. Such trading ranges are highly unusual.
<strong>The Changing Landscape of Oil Production</strong>
The various regime changes and ongoing political unrest in the Middle East have put energy traders on edge, and thus caused oil prices to ratchet up rapidly. The overthrow and deaths of several key oil producing leaders, such as Libya’s Muammar Gaddafi, have changed the matrix for oil production going forward. And traders are left with more questions and concerns, rather than solutions.
These companies – among the world’s largest corporations – are primarily in the banking and energy sectors. Some, like the giant oil and gas company, Saudi Aramco, aren’t open to investors at all. But many are.Read more »
In August 2009, the John J. Heldrich Center for Workforce Development at Rutgers, The State University of New Jersey began following a nationally representative sample of American workers who lost a job during the height of the Great Recession.Read more »
Under pointed questioning from Senate Republicans today, federal financial regulators admitted that they have not yet found about $1.2 billion in customer funds missing at the bankrupt MF Global Inc.Read more »
When most people think of commodities, they usually think of oil, copper, even gold or silver. But there are plenty of others that can allow you to make a lot of money.Read more »
More Americans are financially dependent on the government than ever before. For a variety of reasons, there are now tens of millions of Americans that would not be able to survive without government assistance.Read more »
There is palpable fear in the world and the urgency could be felt in the new strategy unveiled Wednesday morning by the world’s major central banks to bolster the financial system by increasing liquidity in the financial markets.Read more »
Did you know that we buy about a half a trillion dollars more stuff from the rest of the world than they buy from us? The U.S. balance of trade is not only mind-blowingly bad – it is the worst in the world. It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars. That would be an increase of more than 11 percent from last year. As I have written about previously, the United States is the worst in the world at a lot of things, but as far as the economic well-being of our nation is concerned, our balance of trade is particularly important. Every single month, far more money goes out of this country than comes into it. Tax revenues are significantly reduced as all of this money gets sucked out of our communities. The federal government, state governments and local governments borrow gigantic piles of money to try to make up the difference, but all of this borrowing just makes our debt problems a whole lot worse. In the end, no amount of government debt is going to be able to cover over the fact that our national economic pie is shrinking. We are continually consuming far more wealth than we produce, and that is a recipe for economic disaster.Read more »