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Today the Minutes of the Federal Open Market Committee (FOMC) has released the minutes of its meeting from November 2-3. The outlook remains mixed, but there were several points that indicate that the future is starting to look better. Here a few quotes that show the economic outlook: “In their discussion of the economic...
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The Dow Jones Industrial Average finishes up for the month of October. That means that almost all the losses of the prior months have been regained. With 11,118.49 points the Dow Jones is not back in the range where it was trading in May 2010. The NASDAQ Composite did not do much during the...
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The Gold Price slipped down to $1,316 on Friday in London, but swiftly crawled up $1,324, just a few dollars shy of the London early morning price. The 5.1% slide from last weeks all time high is a result of the Dollar being viewed as relatively more stable during the last few days. The...
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Toy Story 3 was a fantastic film. It not only made a huge amount of money, it touched audiences far and wide. It is expected to cross the $1 billion mark. It just keeps making money and more money. If Toy Story 3 crosses the $1 billion mark that will be Disney’s second film...
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The National Association of Realtors released the monthly existing Home sales for the month of July today. According to this, the existing Home sales were distinctly lower in July compared to the sales figure for June. In July 3.83 million existing homes changed hands, compared to 5.26 million in June. The home buyer tax...
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It is said that Americans are their best when their backs are against the proverbial wall and no more is so than those who work in the manufacturing of cars. The once great General Motors (GM) was run into the ground until it was bailed out by the government and those who had jobs...
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The FED released a statement today, in which they indicate that the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability, although the pace of economic recovery is likely to be more modest in the near term than had been anticipated. What is meant with “resource...
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The Guardian is reporting that governments, especially many in Europe and other poor countries are preparing their people for a steep rise in the cost of bread and other wheat related products. This increase is expected because of the severe drought in Russia, which produced much of the wheat that makes its way to...
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The rate for fixed mortgages fell to a record low of 4.49%, based on an average 30-year mortgage. This is the lowest rate since 1971. The average rate of a 30-year fixed-rate mortgage has dropped to 4.49 percent, from 4.54 percent last week, Freddie Mac said, as reported by sfgate.com. The rates were the...
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Fannie Mae has been the whipping girl of many and deceivingly so, because she has contributed and has been culpable in the housing distress that we are currently going through. Today, she got some good news – according to the Washington Post, Fannie Mae lost only $1.2 billion. You may say that this a...
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