According to the Merrill Lynch/ CapGemini “State of the World’s Wealth” report, the number of high net worth individuals rose 17.1% last year to 10 million. Their total assets combined increased 18.9% to $39…
After four years, Michigan lost its spot as the unemployment leader in the U.S., according to May numbers from the Bureau of Labor Statistics. Unemployment fell in 37 states during the month. Nevada took…
Alan Greenspan still occasionally shows up on the global stage to sell a new book or defend his legacy as Fed chairman. He must find it irritating that his predecessor Paul Volcker has become…
Results from the Philadelphia Federal Reserve show business activity in the region is slowing, a sign the economic recovery has already begun to burn out. The June “Business Outlook” data indicated that “Regional manufacturing…
Germany’s economy, the fourth largest in the world, is supposed to carry it through the Eurozone disaster. That is what the Germans thought. But the confidence has become a fascade. According to the ZEW…
The Reuters/University of Michigan sentiment index rose last Friday that consumer confidence grew to 75.5. The figure was better than most forecasts. The news caused a sharp market rally, but the U Mich numbers…
Household net worth rose by $1.1 billion in the first quarter to $54.4 trillion according to The Federal Reserve, driven to some extend by rising stock prices and a desire by consumers to pay…
Job creation numbers from last May improved even when Census hiring was backed out. US job openings as measured by the BLS hit a 15-month high for April another affirmation that unemployment is likely…
The Federal Reserve announced that consumer credit rose $1 billion from March to April, a meaningless number because of its size. Total outstanding consumer credit for the month was $2.44 trillion. The figure has…
Prime Minister David Cameron of the UK is no Winston Churchill. He gave a chilling speech about the future of his nation’s finances, perhaps as a possible means to frighten its citizens to accept…
The FOMC should be raising the Fed Funds Rate from the 0.00% to 0.25% benchmark it has up to 1% by the end of summer. That is what the hawkish Thomas Hoenig, President of…
The report for Weekly Jobless Claims did show a drop, just not one that shows a robust labor market. There was a 10,000 drop to 453,000, but that is based on the prior week’s…
If you were wondering how long it would take for all the trouble in Europe to spill over into manufacturing orders, wait no longer. It already has. At least that is what the indication…
Corporate bond sales this month will be the worst since 1999. According to Bloomberg, they will only hit $47 billion, down from $183 billion in April. The borrowing machine that has allowed US corporations…
The UK government could fire 300,000 people and the number may rise to 700,000, according to the Times of London. The nation has an estimated £156 billion budget deficit. Governments in Greece, Spain, and…