March 6, 2014
Service Industries in U.S. Grow at Slowest Pace Since 2010 - Bloomberg--3.5.14
Service industries in the U.S. expanded in February at the slowest pace in four years, reflecting a plunge in hiring. This shows the biggest part of the economy is struggling as harsher weather weighs on consumers and businesses.
Companies in U.S. Added Fewer Jobs Than Forecast in February - Bloomberg--3.5.14
Companies added fewer workers that projected in February, a sign that employers were waiting for a pickup in demand before boosting headcount, according to a private report based on payrolls.
Bernanke says Fed could have done more during crisis- Yahoo! Finance--3.4.14
Former Fed Chairman Ben Bernanke said the U.S. central bank could have done more to fight the country's financial crisis and that he struggled to find the right way to communicate with markets.
Ukraine Crisis Roils Global Markets - The Wall Street Journal--3.3.14
The Ukraine crisis rattled global financial markets on Monday, driving up prices of oil and grain and sending investors rushing into perceived safe-haven assets such as gold.
Economy just muddling along- CNN Money--2.28.14
Economic growth did not end 2013 as strong as originally thought, according to revised data from the Commerce Department. GDP grew at a 2.4% annual pace in the fourth quarter, revised down from 3.2% originally reported.
U.S. military not prepared for cyber warfare, commander warns- The Washington Times--2.28.14
The U.S. military is ill-prepared for waging cyber warfare and they need to bolster defenses against the growing threat of cyber attacks, according to the commander of U.S. Cyber Command.
The Fed is 'out of touch' with the economy: Polcari- CNBC--2.25.14
Recent economic data has been soft and yet the Federal Reserve tell us the economy is back. Polcari thinks the Fed is out of touch with the economy and investors are buying it.
US services growth slows in February: Markit - CNBC--2.24.14
Growth in the U.S. service sector, as well as the pace of hiring, has slowed in February, according to an industry report. The latest data has shown that an unusually cold winter has been dragging on the U.S. economy.
January home sales tumble to 18 month low, hit by US deep freeze- CNBC--2.21.14
U.S. home resales fell more than expected in January, even hitting an 18-month low, as a combination of cold weather and lack of housing stock sidelined potential buyers.
Fannie Mae Payments to U.S. Will Exceed Bailout - Bloomberg--2.21.14
Fannie Mae will pay the Treasury Department $7.2 billion after posting an eighth straight quarterly profit, pushing the total dividend payments above the $116.1 billion of aid they received after the financial crisis.
China's U.S. Treasury holdings fall sharply- CNN Money--2.19.14
China's holdings of U.S. Treasuries fell by $47.8 billion in December, the largest one-month drop in two years. China still remains the biggest foreign holder of U.S. Treasuries but clearly trying to diversify its holdings of foreign government debt.
US mortgage applications fall in latest week: MBA- CNBC--2.19.14
Applications for U.S. home mortgages fell in the latest week, with both purchases and refinancing applications down. This negative data adds to the negative market sentiment consumers have been feeling in recent weeks.
Taking Their Investments Elsewhere- The New York Times--2.18.14
Estimates of international capital flows into and out of the United States indicate that foreigners were net sellers of $40.2 billion of American stocks in 2013. This is the first year since 1992 that they were net sellers.
Europe Considers Wholesale Savings Confiscation, Enforced Redistribution - Zero Hedge--2.12.14
According to one EU document the savings of those residing in the European Union could potentially be used to fund long-term investments in order to boost the economy and help plug the gap left by banks from the financial crisis.
Scary 1929 market chart gains traction - Market Watch--2.11.14
Some experts have noticed eerie similarities between the stock market's recent behavior and how it behaved right before the 1929 crash. A recent chart superimposes the market's recent performance on top of a plot of its gyrations in 1928 and 1929.
Wealthy avoiding stocks, buying art - CNBC--2.7.14
Usually, art often imitates stocks when it comes to prices. However, so far this year, stocks are down while art is up. This may be because the superwealthy are unaffected by market gyrations and would buy rare items no matter what the stock market is doing.
Calls For A Global Currency To Replace The U.S. Dollar - ETF Daily News--2.7.14
Former chief economist at the World Bank, Justin Yifu Lin, has been advising the Chinese government that now is the time for a single global currency. Lin claims the U.S. dollar "is the root cause of global financial and economic crisis" and a global currency will bring back stability.
U.S. economy adds 113,000 jobs in January - Market Watch--2.7.14
The U.S. added 113,000 jobs in January and the unemployment rate fell to 6.6%, but the pace of hiring seems to be slowing over the past few months, according to government data. The second straight disappointing jobs report suggests the unusually cold weather is not the main cause of the slowdown.
Job growth remains weak - CNBC--2.7.14
Hiring picked up slightly in January, but no by much. The U.S. economy added 113,000 jobs, far weaker than economists prediction of 178,000. Many economists had also been hoping that December's weak job gains would be revised much higher.
Frigid Winter Spells Trouble for U.S. Economy - Bloomberg--2.6.14
Financial markets tend to overreact to abnormally warm or cold conditions, say David Woo, head of global rates and currencies at Bank of America Crop. In a recent report, Woo found a 48 percent correlation between first-quarter economic growth and temperature over the last decade.
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