The 2013 America’s Cup, an international sailing competition, will be held in San Francisco Bay next September. Hosting the race is all about economics, but with global financial decline San Francisco may not reap the hoped for $1.4 billion in revenue or 9,000 promised jobs. Spencer Michels reports. Continue reading
The FDIC reported that its insurance fund shrank 20 percent in the second quarter. Jeffrey Brown speaks with a reporter and analyst about troubled banks. Continue reading
Question: It seems that almost all of the news we hear about the government’s bailout of the banks is negative, as if the American taxpayer will never see another dime of the bailout money again. But isn’t it true that … Continue reading
After a two-day rally, U.S. stock prices plunged Wednesday as investors worldwide expressed concerns the global efforts to inject liquidity and restore confidence to the battered financial system may not be enough to stave off a widespread recession. Continue reading
Question/Comment: I am 62, hoping to retire at 67. I have no debt and my money is invested (following the advice of a pricey financial adviser) in both equities and guaranteed income. I’ve lost a big chunk of dough in … Continue reading
- If excess liquidity has caused these investments that are now going bad, how does the Fed increasing liquidity with lower interest rates help the economy?
Question/Comment: If excess liquidity has caused these investments that are now going bad, how does the Fed increasing liquidity with lower interest rates help the economy? Paul Solman: Because it prevents the system from freezing up entirely. It’s a calculated … Continue reading
- How can such enormous debt be sustainable and what happens to the world economy if the U.S. defaults?
Question/Comment: I am a Canadian. Unfortunately, 87 percent of our trade is with America. Consequently, U.S. recessions are felt more deeply in Canada. However, my questions are about the American debt. My understanding is that the debt could reach $10 … Continue reading
Question/Comment: As a long time observer of the mortgage market, particularly the subprime segment, I have been anticipating the current economic crunch for some time. Accordingly, I have been keeping a large amount of my savings ($85K) in an FDIC … Continue reading