In his usual colorful style, CNBC commentator Rick Santelli joins Jim on the Financial Sense Newshour to clear up the confusion on a number of hot-button issues. First, he explains why austerity—without applying all the necessary ingredients, like reform—hasn't worked in Europe or elsewhere.
The April jobs report on May 3rd sparked a renewal of something I’m calling the "Taper Trade." As I mentioned last week, the effect of renewed faith in U.S. cyclical stocks post-Q2 earnings, along with a rise in the ECRI’s leading economic indicator, better housing data, and this jobs data has been a shift in investor sentiment back towards growth, and away from defensive tactical weightings in Treasuries, the dollar, healthcare, and utilities.
The major averages closed lower today with the Dow off 0.28% and the S&P 500 lower by 0.50%. Trading was light and the market was near the flat line for the majority of the day before sellers took over in the final hour of trading.
The last time Vladimir Putin was president, he laid the foundation to pull Mother Russia from the wreck of economic chaos to a world power once again. This time, he's ready to extend that influence to counter the West.
There’s a new Cold War brewing – and this time it’s not about military power…
The Fed justified a previous round of quantitative easing "to promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate".
The idea that anything positive is happening in Spain that would allow it to meet its budget targets is of course preposterous. Indeed, Spain was granted two more years because it could not possibly meet its targets.
The stock market has plenty to chew on in today’s trading session and most of the data this morning in on the negative side. Jobless Claims jumped in the wrong direction, while Housing Starts came in weaker than expected and the CPI numbers seem be in the benign territory.
In this special interview with Oxford’s Oliver Inderwildi airing Thursday, Jim and his guest discuss the numerous dynamics of oil and economic growth—what Jim defines as the Petro Business Cycle—and how this relates to riots in Syria, whether non-conventional sources of oil can solve our energy needs, and a number of other factors.
The S&P 500 rose by 0.51% and the Dow was up by 0.40%. There were more rumors that the Fed is going to curtail its QE program which is currently at $85 billion a month.
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