Economics

Federal Reserve Officials signal concern about weakening job growth and consumer spending

August 1, 2012

“”The weakness of the economy will force them to act,” said David Jones, chief economist atDMJ Advisors. “Bernanke has been really straightforward. He has said if the recovery loses momentum and labor market conditions are not improving, we will get more easing.”"

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Federal Reserve shows that it is ready to act against a weakening U.S. economy but stops short of aggressive measures (for now)

August 1, 2012

“Fed officials will hint at their intent to deliver further stimulus in part through what most analysts envision as a substantially weaker outlook on the U.S. economy than that delivered in June.”

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Analysis: Latest Stock Market Glitch shows that high-frequency trading is “out of control”

August 1, 2012

“”This algorithmic trading is kind of out of control,” Phil Silverman, managing partner at Kingsview Capital. “It seriously hurts investor confidence.”"

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Knight Capital Firm: “Technology issue” affected the routing of shares of about 150 stocks to the NY Stock Exchange, causing abnormal volatility

August 1, 2012

“Several market participants said the source of the problem may have been large orders meant to be filled throughout the day that were instead executed in a shorter time frame, with some saying it was handled in the first 15 minutes of trading.”

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House Republicans pull their one-year extension of farm disaster relief package

August 1, 2012

“The action shows how much the GOP leadership — having boxed itself in by refusing to take up a five-year farm bill — is scrambling now to find something the party’s candidates can take home to farm states.”

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Special Inspector General’s Report: U.S. infrastructure initiative in Afghanistan running far behind schedule

August 1, 2012

“The report, by the special inspector general for Afghanistan reconstruction, also concludes that the Afghan government will not have the money or skill to maintain many of the projects, creating an “expectations gap” among the population that could harm overall stabilization efforts.”

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Analysis: Investors continue to do business in Turkey despite the country’s regional tension with Syria

August 1, 2012

“But rising risk appetite amid efforts by central banks in the developed world to support their economies has investors poised to channel some of that cheap cash from the central banks to Turkey.”

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Analysis: Fact-checking Romney’s claims about the Polish economy

August 1, 2012

“And while Poland’s economic growth has certainly been impressive in recent years, this is partly the result of economic redistribution in the form of subsidies that have been flowing in from the European Union since it joined the bloc in 2004.”

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President Obama announces another round of new sanctions against Iran

August 1, 2012

“President Obama has signed an executive order that imposes new sanctions on Iran’s energy and petrochemical sectors to prevent the country from getting around existing sanctions.”

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Eurozone Unemployment hits a record-high 11.2% in June

July 31, 2012

“Eurostat estimates that 25 million [people] are unemployed across the full 27-state EU. Youth unemployment hit 22.6%.”

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Q2 Profit for UBS, Switzerland’s largest bank, falls 58% on investment banking losses

July 31, 2012

“Chief Executive Officer Sergio Ermotti is shrinking UBS’s investment bank by more than half to focus on wealth management as rising capital requirements and Europe’s sovereign-debt crisis drag on profitability at the securities unit.”

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Corn Prices hit record-high levels due to crop shortages created by massive droughts

July 31, 2012

“Corn prices have soared more than 50% during the past six weeks as the crops continue to shrivel in relentless dry heat throughout the Midwest.”

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General Motors increasing the use of risky subprime loans

July 30, 2012

“Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM’s growth.”

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U.S. Commodity Futures Trading Commission approves swap definition triggering under the Dodd-Frank Act

July 30, 2012

“The swap definition will trigger almost 20 Dodd-Frank measures for reporting, clearing, trading and record-keeping that may take effect as early as September. The CFTC voted 4-1 to complete the roughly 600-page document after the SEC voted unanimously.”

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Former Assistant Treasury Secretary: The Libor fixing is an indication of collusion

July 30, 2012

“Unless bond prices can continue to rise as new debt is issued, the era of rigged bond prices might be drawing to an end. It would seem to be only a matter of time before the bond bubble bursts.”

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