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Gold, Silver Futures Decline as Dollar Rebounds Against Euro

Gold and silver futures fell after the dollar rebounded against the euro, eroding the appeal of precious metals as alternative investments. The dollar rose as much as 1.3 percent against the euro after the European Central Bank signaled that a 25 basis-point increase in its benchmark lending rate today may be enough to control inflation. Gold still has climbed 42 percent in the past year as the ECB held rates steady while the Federal Reserve slashed borrowing costs and the dollar sank. The metal reached a record $1,033.90 an ounce on March 17. Gold futures for August delivery dropped $12.90, or 1.4 percent, to $933.60 an ounce on the Comex division of the New York Mercantile Exchange. The metal climbed 0.2 percent this week. Silver futures for September delivery declined 5.5 cents, or 0.3 percent, to $18.37 an ounce. The price climbed 3.7 percent this week. Silver is up 23 percent this year, while gold has climbed 11 percent. The markets will be closed tomorrow for the U.S. Independence Day holiday. The ECB boosted it main refinancing rate to 4.25 percent, the highest since 2001, to cool inflation. The Fed cut its benchmark lending rate to 2 percent on April 30, the last of seven straight cuts from 5.25 percent in September, to head off a recession. Interest-rate futures show a 52 percent chance the Fed will raise the federal-funds rate to 2.25 percent by Sept. 16, compared with a 19 percent chance a week ago. A decline in gold may be limited should soaring energy costs boost demand for the metal as a hedge against inflation, analysts said. Crude-oil futures reached a record $145.85 a barrel today on concern an attack on Iran's nuclear facilities will disrupt Middle East petroleum supplies. Iran is OPEC's second-biggest producer. Almost a quarter of the world's oil flows through the Strait of Hormuz, a narrow waterway between Iran and Oman at the mouth of the Persian Gulf.

Author: AmericanPlatinumExch
Keywords: Commentary Analysis Documentary Gotcha! Grassroots Outreach News Political Commercial Advice Community Dating
Added: July 3, 2008

.8 Can Make a Big Difference

Being .8 short in sports can be the difference between winning and losing, and .8 can make a big difference on your student loans as well. On July 1, 2008, the interest rate on subsidized federal student loans dropped from 6.8% to 6%. This .8% cut, when combined with the interest rate cuts being made over the next 3 years, will save an average of $2570 for borrowers starting school in 2008.

Author: EdLaborDemocrats
Keywords: football golf tennis track runner boat race pole vault sports failures college financial aid student loan
Added: July 3, 2008

Tax the Rich Feed the Poor We'll all be Poor for ever more

I have finally discovered what Barack Obama's real slogan should be; Tax the rich and feed the poor, then we'll all be poor for ever more. YES WE CAN. I believe that even the Obama is starting to get real nervous about the possibility of actually becoming our next President and basically destroying our great country with his inexperience and naivety. Hopefully he will self destruct.Perry: Obama's tax policy would `devastate' economyAssociated PressAUSTIN — Gov. Rick Perry said Thursday that Democratic presidential candidate Barack Obama's policies on energy and taxes would devastate the U.S. economy.Perry, chairman of the Republican Governors Association, made his comments during a news conference in which he expressed strong support for Sen. John McCain's White House bid.He said Obama's talk of change was reminiscent of the 1970s and the double digit interest rates in place then.Perry likened it to the change espoused during President Jimmy Carter's tenure and warned against returning "us back to those tax happy days and one of the most economically damaging times in our history."Perry's remarks came just a day before Obama's scheduled meeting on Friday with Democratic governors.Perry touted Texas' approach to energy and taxes as sensible, appropriate and something to be emulated."We've cut taxes in this state, one of the reasons you've seen more Fortune 500 companies call Texas home than any other place in the nation," Perry said. "We're living proof that when you cut taxes it increases economic prosperity."Obama's record shows he favors raising taxes on individuals and corporations and "that would be devastating to the economy," Perry said.The governor also was critical of Obama's energy plan and called for increased domestic exploration and drilling in the U.S."Bottom line, I feel Obama's approach to energy would be plain ... bad for America," Perry said.But Obama's campaign countered with a different perspective."Changing your position to tell oil company executives that they can drill off our shores and can keep raking in record profits while families pay at the pump, isn't tough talk, or straight talk, it's the same Washington double talk that has failed our families for too long," said Obama spokeswoman Shannon Gilson. "Unlike John McCain, Barack Obama understands that we can't simply drill our way out of our energy crisis. He would provide immediate real tax relief for families while also investing in renewable and alternative energies."Gilson pointed to a new report from the non-partisan Tax Policy Center stating that Obama's tax plan will provide middle-class families with tax cuts three times as large as those they would receive under McCain's plan.Asked whether he favored McCain's proposed gas tax holiday — which Obama calls a quick fix that would do more harm than good — Perry replied cautiously.He said he could support it as long as his state could be reimbursed for money lost if the federal gas tax revenue were suspended.According to Obama's campaign, McCain's gas tax proposal would cost Texas more than $587 million in federal highway funds and nearly 20,000 in highway-related job losses.Perry pledged to "do anything at anytime" to help McCain be the next president, except serve as his vice president.He said he already has a "wonderful job" as governor.Before endorsing McCain, Perry backed former New York Mayor Rudy Giuliani. But he stressed that "our horse is McCain and I'm proud to ride him."

Author: jbranstetter04
Keywords: taxes economy recession capital gains spending deficit budget barack obama john mccain bush
Added: July 2, 2008

U.S. CONSUMERS CUT BACK ON SPENDING - (MSNBC)

Monday, June 30, 2008(U.S.) - Strong evidence is emerging that consumer spending, a bulwark against recession over the last year even as energy prices surged and the housing market sputtered, has begun to slow sharply at every level of the American economy, from the working class to the wealthy.The abrupt pullback raises the possibility that the country may be experiencing a rare decline in personal consumption, not just a slower rate of growth. Such a decline would be the first since 1991, and it would almost certainly push the entire economy into a recession in the middle of an election year.There are mounting anecdotal signs that beginning in December Americans cut back significantly on personal consumption, which accounts for 70 percent of the economy.(MSNBC)

Author: Suc33d2009
Keywords: commentary analysis news video blog economy popular media MSNBC recession politics federal government local state
Added: June 30, 2008

U.S. CONSUMERS CUT BACK ON SPENDING - (MSNBC)

Monday, June 30, 2008(U.S.) - Strong evidence is emerging that consumer spending, a bulwark against recession over the last year even as energy prices surged and the housing market sputtered, has begun to slow sharply at every level of the American economy, from the working class to the wealthy.The abrupt pullback raises the possibility that the country may be experiencing a rare decline in personal consumption, not just a slower rate of growth. Such a decline would be the first since 1991, and it would almost certainly push the entire economy into a recession in the middle of an election year.There are mounting anecdotal signs that beginning in December Americans cut back significantly on personal consumption, which accounts for 70 percent of the economy.(MSNBC)

Author: Suc33d2009
Keywords: commentary analysis news video blog economy popular media MSNBC recession politics federal government local state
Added: June 30, 2008

U.S. CONSUMERS CUT BACK ON SPENDING - (MSNBC)

Monday, June 30, 2008(U.S.) - Strong evidence is emerging that consumer spending, a bulwark against recession over the last year even as energy prices surged and the housing market sputtered, has begun to slow sharply at every level of the American economy, from the working class to the wealthy.The abrupt pullback raises the possibility that the country may be experiencing a rare decline in personal consumption, not just a slower rate of growth. Such a decline would be the first since 1991, and it would almost certainly push the entire economy into a recession in the middle of an election year.There are mounting anecdotal signs that beginning in December Americans cut back significantly on personal consumption, which accounts for 70 percent of the economy.(MSNBC)

Author: Suc33d2009
Keywords: commentary analysis news video blog economy popular media MSNBC recession politics federal government local state
Added: June 30, 2008

U.S. CONSUMERS CUT BACK ON SPENDING - (MSNBC)

Monday, June 30, 2008(U.S.) - Strong evidence is emerging that consumer spending, a bulwark against recession over the last year even as energy prices surged and the housing market sputtered, has begun to slow sharply at every level of the American economy, from the working class to the wealthy.The abrupt pullback raises the possibility that the country may be experiencing a rare decline in personal consumption, not just a slower rate of growth. Such a decline would be the first since 1991, and it would almost certainly push the entire economy into a recession in the middle of an election year.There are mounting anecdotal signs that beginning in December Americans cut back significantly on personal consumption, which accounts for 70 percent of the economy.(MSNBC)

Author: Suc33d2009
Keywords: commentary analysis news video blog economy popular media MSNBC recession politics federal government local state
Added: June 30, 2008

Jim Cramer's Stop Trading! - The Birth of a Legend
Remember when, airing live on Stop Trading!, Cramer said the Fed must cut rates now to avoid a banking crisis? I'm pretty sure he cemented himself as a stock market legend since that point on. The man is a genius; so here's to you, Cramer - Booyah!
http://digg.com/educational/Jim_Cramer_s_Stop_Trading_The_Birth_of_a_Legend

The Fed Pauses, You Shouldn't
While slowing interest rate cuts are here, it's the best time ever to buy a home. What are you doing?
http://digg.com/business_finance/The_Fed_Pauses_You_Shouldn_t

Fed Seven Straight Rate Cuts Ends
Since September, the central bank has been aggressively cutting its key Fed Funds interest rate to stimulate an economy hammered by a collapsing housing market and the tightening of credit. Rates now stand at 2 percent, down from 5.25 in September.
http://digg.com/world_news/Fed_Seven_Straight_Rate_Cuts_Ends

Fed Rate Announcement
The Federal Reserve has decided to leave a key interest rate unchanged, bringing an end to a string of consecutive rate cuts aimed at keeping the country out of a deep recession.
http://digg.com/business_finance/Fed_Rate_Announcement

Dollar Falls Versus Euro as Fed Says Inflation Will Moderate
The dollar dropped against the euro after the Federal Reserve ended the most aggressive series of rate cuts in two decades with no indication that it will increase borrowing costs.
http://digg.com/world_news/Dollar_Falls_Versus_Euro_as_Fed_Says_Inflation_Will_Moderate

Why the Fed is Likely to Sit Tight Today
Expect the Fed to not cut or increase rates today, as it indicates that inflation is a bigger concern than recession. Though market watchers expected a hike in rates to stop inflation, a hike would be an extraordinary move in advance of the US presidential election.
http://digg.com/business_finance/Why_the_Fed_is_Likely_to_Sit_Tight_Today

THE FED: WHAT SHOULD HAPPEN TOMORROW (6/25/08)
An analysis of imputed inflation and why the fed should cut the federal funds target interest rate.
http://digg.com/business_finance/THE_FED_WHAT_SHOULD_HAPPEN_TOMORROW_6_25_08

Feds walking a tightrope between rate cuts and inflation
The economy needs low interest rates, but if inflation needs to be controlled, rates will need to go up.A typical tightrope
http://digg.com/business_finance/Feds_walking_a_tightrope_between_rate_cuts_and_inflation

Did the Fed go too far?
"some argue the economy is worse off because of the Fed's previous big rate cuts."I have to admit I don't know if I support that view, but I gotta say I wouldn't want to be one of the fed's decision makers...
http://digg.com/business_finance/Did_the_Fed_go_too_far_3

Robert Novak is No Fed Expert !
Robert Novak's column in today's WashPost is causing a buzz. He claims that the Federal Reserve rates are not going higher, and while that may be true its not because Novak says so. Novak's last column on the Fed was 8/16/07 titled "A Rate Cut on Hold." The next day, the Fed began cutting rates from 5.25 down to 2% over the next 6 FOMC meetings.
http://digg.com/business_finance/Robert_Novak_is_No_Fed_Expert