Archive of Economic News Archives | Page 30 of 33 | Truth is Treason

What is the Critical Level of Conversational Currency? Thumbnail

What is the Critical Level of Conversational Currency?

Posted on Nov 18, 2009 in Economic News

Source: ConversationalCurrency

By Dan Robles

basket-of-world-currenciesCan the value of conversation fluctuate when compared to a “basket of conversational currencies”?  The translation is as follows;  If several conversations are taking place at the same time, does yours hold more or less value depending on the value of the others?

 

Same as a Lie?

If you ask a newspaper whose lead story was trumped by an unexpected celebrity death, the answer is yes.  If you tell a political activist whose rational message is lost to  more radical activists, the answer is yes.  If your speech is interrupted by a heckler, the answer is yes.  If you are caught lying about your Nuke Plant, the outcome is unintentionally the same – a loss of credibility, value, equity, and associated increase in risk,volatility, etc.

In today’s world of floating currencies, almost every currency rises and falls against other currencies at one time or another. But a currency that is persistently weak or continually falling relative to others presents a problem. If the dollar’s value were to continue to fall to new lows, eventually this would trigger rising inflation pressures.

...

Continue ReadingLeave a Comment

Commodity Futures News Nov 17, 2009

Posted on Nov 17, 2009 in Economic News

Source: DailyFutures   U.S. Economy The U.S. Labor Department said that the producer price index was up .3% in October, but down 1.9% from a year ago, a smaller monthly increase than expected. The December 2010 eurodollars ended up .015 at 98.775. The Federal Reserve said that industrial production was up .1% in October, weaker than expected. Foreign demand for U.S. securities is strong in spite of (or due to?) the weak dollar. The U.S. Treasury said that foreign purchases of long-term securities totaled $55.7 billion in September while U.S. purchases of foreign securities totaled $15.0 billion. The December U.S. T-bonds were up 7/32nds at 121.02/32nds. Grains and Cotton The corn harvest will wait while the rain continues to fall - today in Missouri, Illinois, India

Continue ReadingLeave a Comment

Commodity Futures News Nov 16, 2009

Posted on Nov 16, 2009 in Economic News

Source: DailyFutures U.S. Economy - Dollar Continues To Fall The U.S. Commerce Department said that retail sales were up 1.4% in October, better than expected. Excluding autos, sales were only up .2%. In September, sales were revised lower, from -1.5% to -2.3%. The December 2010 eurodollars jumped up .115 to a new contract high at 98.76. The New York Federal Reserve's regional index of manufacturing fell from 34.57 to 23.51 in November, weaker than expected but still a sign of expansion. Federal Reserve Chairman Bernanke told the Economic Club of New York that he was watching the falling dollar, but "longer-run inflation expectations are stable" so the federal funds rate will continue to be exceptionally low for "an extended period." The December U.S. T-bonds closed up 1.13/32

Continue ReadingLeave a Comment
Gold hits $1,139.20… But What About Inflation Factors? Thumbnail

Gold hits $1,139.20… But What About Inflation Factors?

Posted on Nov 16, 2009 in Economic News

255_88goldcoinstackNEW YORK (CNNMoney.com) — Gold prices surged to record highs yet again Monday, topping $1,139 an ounce, as investors continue to favor the precious metal over currencies like the U.S. dollar.

Gold for December delivery jumped $22.50, or 2%, to settle at a record $1,139.20 a troy ounce Monday. That easily trounces the closing price for Friday, when gold settled at its previous record of $1,116.70 an ounce.

After the close, the price continued to move even higher in electronic trading.

While gold prices have been soaring of late, they don’t factor in inflationary adjustments. Current prices are actually a far cry from the record set on Jan. 21, 1980, when gold peaked at $825.50 an ounce (in 1980 dollars). That translates to an all-time peak of $2,163.62 an ounce in 2009 dollars.

Read the entire article here –

And check out Truth is Treason’s Live Market page, which shows the current market price of gold, silver, platinum, and most of the major commodity futures.

[Hayden’s Note:  I can’t help but wonder why gold is skyrocketing all of a sudden. ...

Continue ReadingLeave a Comment

Commodity Futures News Nov 12, 2009

Posted on Nov 12, 2009 in Economic News

Source: DailyFutures U.S. Economy The U.S. Labor Department said that jobless claims were down 12,000 last week to 502,000, less than expected and the lowest since January. The U.S. Treasury sold $16 billion of 30-year T-bonds at a median yield of 4.39%. The bid to cover ratio was 2.26, the lowest since May. The December U.S. T-bonds were down 15/32nds at 118.29/32nds. The U.S. Treasury Department posted a federal budget deficit of $176.4 billion in October, up from $155.5 billion deficit a year ago. The Mortgage Bankers Association's index of mortgage applications dropped 12% last week to 220.9, the lowest in almost nine years. Also, Freddie Mac said that the fixed rate on a 30-year mortgage averaged 4.91% over the past week, the lowest in over a month. January lumber clos

Continue ReadingLeave a Comment

U.S. Unemployment Rate Headed to 12%-13%, Economist Says

Posted on Nov 11, 2009 in Economic News

By Kelly Evans

David Rosenberg is not a very bullish guy — yet his pessimism about the U.S. economy in recent years has proven prescient. Now, Mr. Rosenberg, a former chief North American economist at Merrill Lynch who joined Toronto-based consultancy Gluskin Sheff & Associates as chief economist in May, says the nation’s unemployment rate is headed for 12%-13%.

“There are serious structural issues undermining the U.S. labor market,” he said in a note to clients Wednesday, emphasizing that the surge in unemployment resulting from the Great Recession is only part of the problem.

He points out that beyond those who are counted as officially unemployed, “there are the record number of people [about nine million] who got furloughed into part-time work,” plus many more who have dropped out of the labor force altogether.

Mr. Rosenberg’s call comes at a time when despite glimmers of improvement in the nation’s job market (such as a slowdown in new unemployment claims and a small uptick in job openings), unemployment continues its sharp rise. The U.S. unemployment rate hit 10.2% in October, according to the Labor Department, double the 5% rate seen just last year and the highest level since 1983....

Continue ReadingLeave a Comment

Commodity Futures News Nov 11, 2009

Posted on Nov 11, 2009 in Economic News

Source: DailyFutures U.S. Economy U.S. Treasury Secretary Geithner said that he wants a strong U.S. dollar, but of course, the Fed is not raising interest rates so the market isn't paying much attention. The December U.S. dollar index was up .15 at 75.26. Due to Veteran's Day, U.S. government offices are closed. The December U.S. T-bonds closed up 31/32nds at 119.12/32nds, the highest close in a week. China's central bank said in a monetary policy statement that they will begin again to allow a gradual increase in their currency, the yuan. A growing chorus of international critics have accused China of an unfair balance of economic activity, due to the artificially low yuan. Grains and Cotton Today's 6 to 10 day forecast from the National Weather Service is still expect

Continue ReadingLeave a Comment

Commodity Futures News Nov 10, 2009

Posted on Nov 10, 2009 in Economic News

Source: DailyFutures U.S. Economy A survey by the Blue Chip Economic Indicators expects real GDP to be down 2.4% in 2009, but up 2.7% in 2010, an improvement from their estimates of a month ago. The National Association of Home Realtors said that existing home sales were up 11.4% in the third quarter and up 5.9% from a year ago. January lumber finished up $2.00 at $209.20. The U.S. Treasury sold $25.0 billion of 10-year T-notes at a median yield of 3.42% and a bid-to-cover ratio of 2.81. Moody's Investor Services said that they believe that AIG will be able to pay off the $44 billion credit line that they received as part of the government bailout. So far, the U.S. government has poured $182 billion into AIG. Grains and Cotton The USDA's 2009-2010 U.S. ending stocks

Continue ReadingLeave a Comment

Commodity Futures News Nov 09, 2009

Posted on Nov 09, 2009 in Economic News

Source: DailyFutures
U.S. Economy

The U.S. Treasury is scheduled to sell a record high $81 billion of debt this week, starting with $40 billion of three-year T-notes today that went for a median yield of 1.37%. The bid to cover ratio was 3.33, the best demand since 1990. The December U.S. T-bonds were up 2/32nds at 118.16/32nds.

Policy makers from this weekend’s G-20 meeting in Scotland tried to assure investors that central banks are not yet ready to withdraw stimulus from the world’s economy. The December U.S. dollar index fell .805 to 75.135, near the contract low. December gold closed up $5.70 at a new contract high of $1,101.40.

Grains and Cotton

According to Bloomberg news, China’s corn crop will be down 13% this year to 144.4 million tons, due to drought. December corn jumped up 19 cents to $3.86.

January soybeans closed up 17 cents at $9.72 ahead of tomorrow’s monthly USDA estimates.

Tropical Storm Ida is expected to bring more rain to the already-wet southeastern U.S. December cotton closed up 1.07 cents at 67.61.

After the close, the USDA said that:

37% of the corn crop was harvested, down from the five-year average of 82%....

Continue ReadingLeave a Comment
Gold Keeps Breaking Records; $1,110 Thumbnail

Gold Keeps Breaking Records; $1,110

Posted on Nov 09, 2009 in Economic News

gold_1d_o_USDIt seems that each day, I’m writing another brief story about the price of gold.

$1,101 was a great moment and one that honestly, I didn’t think we would see this soon.

In Asian markets overnight, the price of gold shot up and over $1,110!

 

How high will it go?...

Continue ReadingView Comments (1)

Dollar Will be Utterly Destroyed; Ushering in Global Currency

Posted on Nov 07, 2009 in Economic News

Source: Infowars November 7, 2009 The dollar will get “utterly destroyed” and become “virtually worthless”, said Damon Vickers, chief investment officer of Nine Points Capital Partners.  Due to the huge wage disparities between the United States and emerging markets like China, Vickers said that may resolve itself in some type of a global currency crisis. "If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that,” he said. [Hayden's Note: With the current 'basket of currencies' being peddled by the IMF and World Bank, along with oil produing countries and the almost insidious, devious way in which our own American economy is melting.... I h

Continue ReadingLeave a Comment
Gold hits $1,101.27 – Another New Record! Thumbnail

Gold hits $1,101.27 – Another New Record!

Posted on Nov 06, 2009 in Economic News

Gold prices crept past the $1,100 mark earlier today for the first time in history, peaking at $1,101.27 and settling around the $1,097 mark (which is still higher than yesterday’s record!)

Price of Gold

 This rise in gold prices was triggered by reports today from the U.S. Labor Department that the nation’s unemployment rate rose more than expected last month to 10.2%. This was the highest rise in unemployment since April 1983 and was 0.3% higher than economists had originally forecast.  High unemployment, coupled with the continued decline of the U.S. Dollar, has fueled Gold’s attractiveness to already concerned U.S. investors.

 ...

Continue ReadingLeave a Comment

36 Million Americans on Food Stamps; New Record

Posted on Nov 05, 2009 in Economic News

Source: Reuters (via BlackListedNews)

By Christopher Doering

The number of Americans receiving food stamp assistance soared above 36 million for the first time in August, the eighth month in a row that enrollment set a record, the U.S. Agriculture Department said on Wednesday.

USDA said 36.492 million people were receiving food stamps, also known as the Supplemental Nutrition Assistance Program. In July, enrollment stood at 35.851 million. At the current rate, an estimated one in eight Americans receive benefits.

The program, which helps poor people buy food, has seen enrollment jump by 4.707 million during 2009 amid a lingering economic downturn in the United States. Participation grew by 2 million people from May to August.

In the latest data, the average person received $132.99 in August, compared with $101.31 in August 2008....

Continue ReadingLeave a Comment

Commodity Futures News Nov 05, 2009

Posted on Nov 05, 2009 in Economic News

Source: DailyFutures U.S. Economy The U.S. Labor Department said that jobless claims were down 20,000 last week to 512,000, less than expected. The December 2010 eurodollars closed up .055 at a new contract high of 98.495 after the Federal Reserve said yesterday that the federal funds rate is likely to stay low "for an extended period." The Labor Department also said that non-farm productivity was up an annual rate of 9.5% in the third quarter, the largest gain in six years. Unit labor costs were down 3.6% in the third quarter from a year ago. Grains and Cotton The U.S. is enjoying another day of clear skies and mild temperatures. Yesterday's 6 to 10 day forecast from the National Weather Service is expecting above average temperatures over the eastern two-third of the U.S

Continue ReadingLeave a Comment

Homebuyers Credit, Jobless Benefits To Be Extended

Posted on Nov 05, 2009 in Economic News

The White House says President Obama on Friday will sign a bill that expands a popular homebuyers tax credit and extends unemployment benefits. Congress on Thursday completed work on the $24 billion economic package that seeks to help out the millions who have lost jobs and have been unable to rejoin the workforce. Hayden's Note:  Is it just me, or does anyone else hear that giant sucking sound?  Oh wait, that's our future swirling down the drain.  Honestly, I don't have a HUGE problem with the homebuyer's credit.  And no, I have not taken part in it nor plan to, but for a wrecked economy and destroyed housing market (due in large part by the very ones acting so god-like to save us) this was a spending bill/stimulus that actually motivated some people to either buy a new home or sta

Continue ReadingLeave a Comment
web counter