Sinking Currency, Sinking Country
"The euro, worth 83 cents in the early George W. Bush years, is at $1.45. The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used... More »
"The euro, worth 83 cents in the early George W. Bush years, is at $1.45. The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used... More »
So, the Fed cut interest rates on Wednesday. Following the announcement, the US dollar sank to a record low against the Euro while the futures market saw gold rocket to a 27-year high. On... More »
To most Americans today, the Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of... More »
In the first half of this year, home foreclosures are up by 41 percent. Between now and 2009, two million families are expected to have the wrenching experience of losing their homes, as well as... More »
Today, Countrywide borrowed $11.5 billion from 40 banks to fund new loans. Fannie Mae said its profits were down 36%. That I can count, the Federal Reserve has pumped $71 billion into our economy, and... More »