US Government bails out Fannie and Freddie - September 10, 2008 8:30

Huge news in the credit markets came this past weekend, as the US government took over failing mortgage finance companies, Fannie Mae and Freddie Mac. The government takeover ended months of speculation amid concerns that failure of the two mortgage giants could have a catastrophic impact on already struggling credit and housing markets.

Gold Whipped by Fannie, Freddie Nationalization - September 8, 2008 13:29

THE SPOT PRICE OF GOLD whipped violently in Asian trade on Monday, shooting 1.8% higher after the US government nationalized the massive Freddie Max and Fannie Mae mortgage lenders, before giving back $10 of that move to trade at $808 an ounce by lunchtime in London.

Oil swings drive wild day - September 3, 2008 9:29

A strong early dive in oil prices helped drive a 250 point surge in the Dow on Tuesday (September 2). Oil dropped sharply to a low of $105.46 per barrel early in the day based on reports that the Gulf Cost oil refineries were largely spared as Hurricane Gustav swept through the southeast part of […]

US economy doing better than expected - August 29, 2008 11:43

The US economy performed much better than anyone had expected during the second quarter of 2008. Thursday’s (August 28) report from the Commerce Department showed a 3.3 per cent annual growth rate increase in the Gross Domestic Product.

Is Gold about to decouple - August 28, 2008 11:26

Gold has moved with the € and in the opposite direction to the U.S.$ for months now.The main reason is because U.S. Investors have linked the performance of the $ to the € as a true reflection of the $ currency value.Of course this implies that the € is the defining currency against which to […]

Operation Melt Down, Part I - August 28, 2008 11:22

FIFTY YEARS AGO – just as the fictional 007 was thwarting Auric Goldfinger’s plan to empty Fort Knox and take America’s gold to Soviet Moscow – the US Treasury feared a very genuine loss of its real gold reserves.

Second quarter bad for US banks - August 27, 2008 9:16

A new report Tuesday (August 26) shows that US banks suffered through one of their worst quarters in history during the second economic quarter of 2008. According to the Federal Deposit Insurance Corporation (FDIC), there were an incredible 117 banks that it considers to have been in “trouble” during the second quarter. This was up […]

Oil slide over? - August 22, 2008 13:41

A sudden move back up in oil this week has already prompted analysts, speculators and consumers to wonder if the month-long oil and gasoline price slide is over, or if this week’s change is simply a correction to the downward trend.

Poor retail, rising wholesale prices prompt inflation concerns - August 20, 2008 9:58

July wholesale data shows that inflation concerns are still fresh and should be at the top of the list of current economic concerns. Tuesday’s (August 19) announcement showed wholesale prices climbed 1.2 per cent during July, which was well over the ½ per cent estimates that had been forecasted.