Economy
Bernanke Claims Economy Is Recovering
Federal Reserve Chairman Ben Bernanke told the Economic Club of Washington that the economy is recovering, even as it confronts “formidable headwinds.” ...
Rosenberg Sees China Causing Gold to Hit $2,600
Gold has recently topped the $1,200 per ounce mark, but analyst David Rosenberg sees it going as high as $2,623 per ounce in...
Read moreGold Hits New Record High, Skirts $1,200/oz.
The weakening dollar propelled gold prices in American markets almost to $1,200 an ounce Tuesday morning, Reuters reported. U.S. gold futures for February...
Read moreGDP Numbers Revised Downward to 2.8 percent for Third Quarter
The U.S. economy grew slower in the third quarter of the year than initially forecast according to the U.S. Bureau of Economic Analysis...
Read moreRon Paul’s Audit the Fed Bill Advances
On November 19, the House Financial Services Committee advanced a bill that calls for the General Accounting Office to conduct a comprehensive audit...
Read moreMillions of Taxpayers Will Repay Tax Break
Thanks to how the Internal Revenue Service implemented President Barack Obama’s tax break last spring, more than 15 million taxpayers may owe the...
Read moreWhy Stimulus Funds Create Few Jobs
The Obama administration has recently reduced by 60,000 the number of jobs created or preserved by stimulus funds. The acknowledged overstatement of jobs...
Read moreGM’s Bailout Money May Go Overseas
General Motors has received $50 billion in taxpayer assistance, yet even as the company cuts thousands of jobs at U.S. locations, it is...
Read moreThere’s Gold in Them Thar Vaults!
The U.S. federal government possesses the largest stockpile of gold in the world, but even with record high prices, it isn’t likely to...
Read moreRecord Federal Deficit of $176 Billion in October
The federal deficit for October reached a record-setting level for that month: $176 billion. The Treasury Department made the announcement on November 13,...
Read moreSmall Banks Turn Down TARP Funds
Many small banks are turning down federal money from the Troubled Asset Relief Program (TARP) because they recognize that it comes with too...
Read moreUnemployment Rate Shoots Past 10 Percent
The unemployment rate shot from 9.8 percent in September to 10.2 percent in October, the highest it has been since 1983, the Labor...
Read moreFord Made Nearly $1 Billion Last Quarter
The Ford Motor Company has posted a net income of nearly $1 billion in the third quarter of this year, no thanks to...
Read moreDid “Cash for Clunkers” Cost Taxpayers $24,000 Per Car Sold?
The federal $3 billion “Cash for Clunkers” program promoted by the Obama White House last summer cost an average of $24,000 per additional...
Read moreGDP Increases 3.5% in Third Quarter, Fueled by “Cash for Clunkers”
The U.S. economy grew at a better-than-expected 3.5 percent annualized rate in the third quarter, according to an “advance estimate” released by the...
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