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LiveWire Economics Blog - October 22, 2008 9:40
A tale of two companies: Yahoo and Apple
Yahoo and Apple both reported quarterly earnings on Tuesday (October 21). The results were quite opposite for the tech bell weathers. Yahoo announced a 64 per cent third quarter profit drop and said it was set to let go 1,500 workers in lieu of the struggling economy. Many analysts and investors in the search engine […]
Flat consumer prices suggest easing inflation
Many of the most pessimistic analysts have expressed concern about the Fed’s move back to a rate cut philosophy given the ongoing price and inflation challenges. The Fed had been on hold with rate cuts for a while after a strong series of cuts in late 2007 and the first half of 2008 that brought […]
Gold Bounces from $830
THE SPOT PRICE of GOLD BULLION twice bounced off $830 an ounce early Thursday – the floor set five times already this week – as world equity prices sank yet again.Hurricane Omar strengthened to category 3 in the Caribbean, but the price of crude oil sank to a fresh 14-month low below $73 per barrel.
US Government dives into credit markets
The US government has made its move into the credit market. It is kind of ironic that the world’s most free enterprise economy, under the direction of a “less†government republican president, has made its first move into government-funded credit.
Oil prices, gas prices and dollar offer some silver lining
It is hard for many American investors and consumers to find hope in a dark and dreary economic environment, but a 12-month low Thursday (October 9) in oil prices and a surging dollar offer some. Finding something positive is important on a day when the Dow Jones reached its low mark since 2003, with a […]
Concern about $2 trillion in retirement losses
The first question to open the second Presidential debate on Tuesday night was from a future retiree concerned about the losses of financial savings and assets of American workers in the current economic crisis. The second debate featured a “Town Hall†format, meaning the questions posed to the candidates were created by and delivered by […]
Load Up on Gold
The Gold Report: When we spoke in mid-July, at the height of the market, you predicted a major downward correction. Roger Wiegand: The call was pretty accurate, although the oversell was surprisingly deep. The reason was the hedge funds had gotten into a position where they had to raise cash as crude oil was starting […]
Gold Leaps as Stocks, Oil & Commodities Tumble
SPOT GOLD PRICES jumped $34 early in London on Monday, bouncing well above last Friday’s low at $820 to touch $860 an ounce as world stock markets sank in the face of desperate promises of Tax-Funded Aid from major governments.
Dow gains 485 points, but does anyone care?
The Dow Jones Industrial average had its third highest one day total points gain ever Tuesday (September 30), and it could not have happened in a quieter fashion. Many analysts had anticipated a rebound Tuesday in lieu of any detrimental news on the Street. Monday’s 777 point drop in the Dow was the index’s largest […]
Gold Continues to be an Asset Class of Choice
What’s happening now is panic, says Joseph McAlinden, who thinks that the financial system will survive it and that a year from now the Dow will be dramatically higher. Chairman and CEO of Catalpa Capital LLC, and former managing director and global chief investment officer for Morgan Stanley Investment Management, McAlinden tells The Gold Report […]
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