Submitted by vnpatriot7 on Mon, 08/01/2011 - 03:12
What’s the debt ceiling?
The legal limit on borrowing by the federal government. Before 1917, Congress had to approve borrowing each time it came up. In order to allow for more flexibility as the nation entered World War I, lawmakers agreed to give the federal government blanket approval for most types of borrowing — as long as the total was less than an established limit.
Why is this an issue now?
The nation’s debt is inching closer to the legal limit of $14.3 trillion. According to
Submitted by vnpatriot7 on Fri, 07/22/2011 - 05:09
WASHINGTON—Inflation, real-estate bubbles and weak monetary controls pose "significant risks to financial and macroeconomic stability" in China, and Beijing should boost the value of its currency to combat those threats, the International Monetary Fund said
Submitted by vnpatriot7 on Wed, 06/29/2011 - 04:52
Auditors are learning that, in China, they sometimes must go the extra mile to verify even the most basic things about clients—like how much cash they have.
Hong Kong audit firm BDO Ltd. recently dropped a client after raising questions about the accuracy of information provided by the firm, going so far as to allege the company had directed the auditor to a fake website.
Submitted by vnpatriot7 on Fri, 06/03/2011 - 12:07
STRIKING gold is generally considered a slice of good luck. Owning it, however, is a sign that you fear the worst. Some people buy the yellow stuff because they think it looks pretty, to be sure. But the quintessential gold bug is an investor who expects every form of paper wealth to collapse, along with civilisation itself.
Submitted by vnpatriot7 on Thu, 04/21/2011 - 10:50
HONG KONG—China is accelerating efforts to push its currency deeper into world markets, racing ahead with a series of moves toward a new financial ecosystem with the yuan at its center.
A senior Hong Kong monetary official told The Wall Street Journal on Tuesday that China's central bank is "actively considering" new rules that would make it easier to bring yuan funds raised offshore back onto the Chinese mainland.
Submitted by vnpatriot7 on Tue, 03/29/2011 - 04:54
(Kitco News) - With the recent earthquake in Japan and the civil war in Libya, many investors expected gold to soar easily to $1,500. Experts said, however, that gold does not necessarily rise during wars or crises; it all depends on a series of factors including the economic context of the time.
Submitted by vnpatriot7 on Thu, 03/24/2011 - 14:56
Crisis? What crisis? The Portuguese government has fallen, likely triggering a bailout pegged at €80 billion ($112.9 billion). Hopes for a euro-zone "grand bargain" on competitiveness and bailouts are fading. Moody's has downgraded nearly the whole of the Spanish banking system. Yet the euro is holding its poise—and could continue to do so.
Last year, the Greek and Irish debt crises sent the euro reeling against the dollar, generating drops of 12.5% in April-May and 7.7% in November. The currency hit a low for the year of $1.19. Now, at $1.41, it is close to a 52-week high despite repeated jitters; the collapse of the Portuguese government sent it only modestly lower Wednesday and it rebounded on Thursday.
There are several reasons for this. Interest-rate differentials are one: The European Central Bank continues to signal it has plans to raise rates as soon as April. Meanwhile, the U.S. Federal Reserve is still engaging in quantitative easing and appears more worried about the impact of oil prices on growth than on inflation.
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