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Sterling dives to 10-month low amid election fears

The pound plummeted to a 10-month low today over fears of a possible hung parliament in the forthcoming election. Sterling lost 1.6% and dipped below $1.50 for the first time since May 2009 - it has already lost 7% against the dollar this year. The pound also lost ground against the euro and many other...

Posted to Finance on 03-01-2010
Filed under: All Financial News, Economy News, fall, currencies, Prudential, dollar, Gordon Brown, sterling, euro, acquisition, election, AIA, hung parliament, 10-month low

Panel: U.S. Must Raise Taxes Or Cut Spending, Or Risk Dollar Crisis

“If action is taken soon, the country has a wide choice of options to help achieve fiscal sustainability. All are difficult; but if action is postponed, the options will be fewer and the choices even more difficult.” -Committee on the Fiscal Future of the United States, January 13 The window of opportunity...

Posted to Economics on 01-15-2010
Filed under: Obama Administration, U.S. Government, Dollar, gross domestic product, GDP, Taxes, Currencies, Debt, Interest Rates, Barack Obama, President Obama, Government spending, national debt, dollar crisis, federal debt, 2011 budget, falling dollar, Rudolph Penner, dollar value, Committee on the Fiscal Future of the United States

U.S. Financial Crash Dead Ahead

Back when I started Boom2Bust around Memorial Day Weekend 2007, there weren’t too many voices out there warning about a coming U.S. financial crash— let alone a financial crisis. Despite this, whether armchair economist or Wall Street analyst, there was one thing pretty much all of us had in common...

Posted to Economics on 01-06-2010
Filed under: Housing, Federal Reserve, Obama Administration, U.S. Government, Central Banks, Dollar, Economy, Depression, housing bubble, Politicians, Crime, Financial Sector, deregulation, Currencies, Debt, Derivatives, Wall Street, Guns, Crash Prophets, Ben Bernanke, Joseph Stiglitz, Bubbles, Survivalism, reserve currency, Fed, financial system, Jeremy Grantham, Wall Street bonuses, Marc Faber, Hedge Funds, monetization, Nassim Taleb, Robert Shiller, national debt, lobbyists, Re-Regulation, federal debt, wealth destruction, Hegemony, bankers, George Soros, Henry Kaufman, Niall Ferguson, dot com bust, capitalism-without-morals, Simon Johnson, great depression 2, shadow banking system, pollyannas, next great depression, Wall Street crime, irrational exuberance, Jared Diamond, credit meltdown, Barton Biggs, financial bubbles

Share Of Dollars In Global Currency Reserves Falls In Q3

The U.S. dollar, as a percentage of worldwide foreign exchange reserves, slipped last quarter. From Reuters yesterday: The share of global foreign exchange reserves held in U.S. dollars declined in the third quarter of 2009 even as overall world reserves swelled to a record $7.5 trillion, International...

Posted to Economics on 12-31-2009
Filed under: Dollar, Currencies, Commodities, foreign exchange reserves, dollar holdings, currency reserves, currency holdings, commodity-linked currencies