Twitter.com – June 27 Lindsay Lohan tweet Have you guys seen food and gas prices lately? U.S. $ will soon be worthless if the Fed keeps printing money! http://spn.tw/t1exbE #ad Slate.com – Buy Lohan, Sell High Why is Lindsay Lohan tweeting about the Federal Reserve’s monetary policy? Lindsay Lohan is not generally known for her… Continue reading Lindsay Lohan – Federal Reserve Chairman
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<Click on chart for larger image> The Economist – Greece and the euro: The abuses of austerity A new plan to cut Greece’s debt looks doomed to fail SOME years back a Greek finance minister, fed up with his country’s waste and extravagance, claimed that he could save money by shutting down the national railway… Continue reading Greece
Bloomberg.com – U.S. Debt-Limit Deal Must Come By Mid-July to Avert Default, Officials Say Negotiators will need to reach agreement on raising the U.S. debt limit no later than July 22 so that legislation can get passed in time to stave off a default on U.S. debt, two Democratic officials familiar with the talks said.… Continue reading Debt Ceiling Debate – July 22 Or Bust?
Reuters – Fed’s Easy Money Stance Courting Trouble: Hoenig The Federal Reserve’s policy of keeping interest rates near zero for an extended period is sowing the seeds of future economic instability, Kansas City Federal Reserve Bank President Thomas Hoenig said. An inflation hawk who opposed the $600 billion bond-buying stimulus that drew to a close… Continue reading Is The Federal Reserve Too Easy?
CNN/Money – Europe didn’t dodge judgment day Why Greece’s bailout may not prevent a Continental credit crisis and another global economic slowdown The Greek Parliament approved a tough austerity plan so that the country could get money from the European Union and the International Monetary Fund, including the rest of the bailout hammered out last year… Continue reading Europe
The Financial Times – Gillian Tett: State is now dominant force in US capital markets By the time you read this column today, a fascinating shift will almost certainly have occurred in the nature of US finance: for the first time the government will be the biggest source of outstanding home mortgage and consumer credit… Continue reading Mortgages
Bloomberg.com – Caroline Baum: Fire the Fed, Let OPEC Run U.S. Economic Policy The running commentary on the U.S. economy can be reduced to two main themes. The first is that monetary and fiscal policies have run out of bullets. The second is that oil prices are responsible for our current malaise. If that’s the… Continue reading Crude Oil
The Financial Times – Corn price plunges as US acreage rises Corn futures have suffered their steepest fall in 15 years after record prices prompted US farmers to defy wet spring weather to plant a sharply increased acreage of the grain. The decline in the corn (maize) price – if it persists – could help… Continue reading Commodities
China Daily (China) – Yuan’s trading band may soon be widened Daily 1 percent limit appropriate, Bank of China analyst says The yuan’s daily trading band against dollar will probably soon be widened from the current 0.5 percent to 1 percent, said a report released by Bank of China Ltd (BOC) on Thursday. Cao Yuanzheng,… Continue reading China
The Telegraph (UK) – UK unveils first ATM for gold at Westfield Shopping Centre Investors can now buy the precious metal with the same convenience as withdrawing cash from an ATM The Gold to Go machine, which sells gold at constantly updated prices, is unveiled at the Westfield shopping centre in London on Friday. The… Continue reading Gold Contrarians Take Note
The Wall Street Journal –Geithner Toys With Leaving Treasury Secretary Timothy Geithner has told President Barack Obama that he is considering stepping down soon after policy makers agree to raise the government’s borrowing limit, a person familiar with the matter said. No decision has been made and Mr. Obama could ask Mr. Geithner to stay.… Continue reading Geithner To Leave?