Saturday, February 16, 2013
Three resource legends just gave a "must-see" presentation
In this candid discussion, precious metals experts Eric Sprott, John Embry and Rick Rule discuss a wide range of topics related to precious metals investing including macro economic issues, expanding central bank balance sheets, and the role of precious metals in protecting your purchasing power. A detailed analysis of the gold, silver and platinum/palladium markets, and a Q&A session round out this great discussion.
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VIDEO: Equity Prices Are Artificially High — It’s Time to Take Profits: PIMCO’s El-Erian
by Lauren Lyster
Yahoo! Finance
Top
of the agenda at this week’s G20 summit in Moscow: Currency Wars. The
G7 put out a statement earlier in the week to dispel fears over
competitive devaluations. It ended up sending a muddled message that
resulted in more volatility in currency markets.
One constant question in the currency war debate is this: is concern over a new round of currency wars merited? Or are central banks carrying out policy in-line with their mandates, as unconventional as those policies may be (an argument the former chairman of the Swiss National Bank made in the Financial Times)?
Mohamed El-Erian, CEO and co-CIO of PIMCO, which runs the largest bond fund in the world, tells The Daily Ticker it’s both.
“It’s important to understand that,” he says, “because that means it’s not going away, it’s going to get worse.”
Continue Reading at Finance.Yahoo.com…
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Yahoo! Finance
Top
of the agenda at this week’s G20 summit in Moscow: Currency Wars. The
G7 put out a statement earlier in the week to dispel fears over
competitive devaluations. It ended up sending a muddled message that
resulted in more volatility in currency markets.One constant question in the currency war debate is this: is concern over a new round of currency wars merited? Or are central banks carrying out policy in-line with their mandates, as unconventional as those policies may be (an argument the former chairman of the Swiss National Bank made in the Financial Times)?
Mohamed El-Erian, CEO and co-CIO of PIMCO, which runs the largest bond fund in the world, tells The Daily Ticker it’s both.
“It’s important to understand that,” he says, “because that means it’s not going away, it’s going to get worse.”
Continue Reading at Finance.Yahoo.com…
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Wal-Mart Says February Sales “Total Disaster”, Worst Monthly Start Since 2006; Stock Drops
from Zero Hedge
Wal-Mart shares are plunging as the firm reports a ‘total disaster’ in its February sales. Bloomberg obtained internal emails that note:
Continue Reading at ZeroHedge.com…
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Wal-Mart shares are plunging as the firm reports a ‘total disaster’ in its February sales. Bloomberg obtained internal emails that note:
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,”
Jerry Murray, Wal-Mart’s vice president of finance and logistics, said
in a Feb. 12 e-mail to other executives, referring to month-to-date
sales. “The worst start to a month I have seen in my ~7 years with the company…. That points to our competitive landscape, which means everyone is suffering and probably worse than we are”
It gets better:Continue Reading at ZeroHedge.com…
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Nearly half of Americans are one emergency from financial ruin
Nearly 44% of American households are one emergency away from financial ruin.
That means they don't have enough savings to cover basic living expenses for three months if something unforeseen happens such as losing a job or falling sick, according to a recent study by the Corporation for Enterprise Development. Almost a third of Americans have no savings account at all.
"These families have had to prioritize today's expenses over tomorrow's goals," said Andrea Levere, the group's president.
California ranks 38th among all states for the ability of its residents to achieve financial stability, the report says. Those living in the Golden State are bedeviled with an average $13,825 in credit card debt and high housing costs.
Many people living precariously have jobs. About 75% are working full time, and more than 15% are earning middle-class incomes of more than $55,000 a year, according to the report.
But despite steady jobs, many of those surveyed are surviving paycheck to paycheck, trying to cope with the recession's aftermath; one emergency could tip them over "the edge of financial disaster."
Possible reasons for their lack of savings? Experts say many factors could be at play, including stagnating wages, rising prices and high credit card debt.
Please bookmark us
That means they don't have enough savings to cover basic living expenses for three months if something unforeseen happens such as losing a job or falling sick, according to a recent study by the Corporation for Enterprise Development. Almost a third of Americans have no savings account at all.
"These families have had to prioritize today's expenses over tomorrow's goals," said Andrea Levere, the group's president.
California ranks 38th among all states for the ability of its residents to achieve financial stability, the report says. Those living in the Golden State are bedeviled with an average $13,825 in credit card debt and high housing costs.
Many people living precariously have jobs. About 75% are working full time, and more than 15% are earning middle-class incomes of more than $55,000 a year, according to the report.
But despite steady jobs, many of those surveyed are surviving paycheck to paycheck, trying to cope with the recession's aftermath; one emergency could tip them over "the edge of financial disaster."
Possible reasons for their lack of savings? Experts say many factors could be at play, including stagnating wages, rising prices and high credit card debt.
Please bookmark us
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