Today the Institute for Supply Management published its August Non-Manufacturing Report. Today's headline NMI Composite Index is at 55.1 percent, registering its third month of faster growth and its best level since March. The Briefing.com consensus was for 53.0 percent.
Even amid a rising stock market individual investors in the U.S. continued to pull money out of equity mutual funds in July, handing those funds their 15th consecutive monthly net outflow.
Spot market old prices rallied to $1781 per ounce ahead of Wednesday's US session, recovering from slight losses earlier in the day to stay in line with recent trading, while stock markets were broadly flat and the Euro reversed earlier gains, as analysts speculated on when and whether Spain will request a bailout.
An economy such as the United States can cover up the problems caused by high oil prices with variety of financial techniques. In my view, high consumer confidence measures the success of those cover-ups, more than it measures the actual underlying situation.
Beppe Grillo is a well know TV personality/comedian in Italy. At age 64 he ran for political office in Parma, and won. He has been doing a lot of talking since, and his philosophies have become very popular.
Chicago Federal Reserve Bank President Charles Evans was interviewed on CNBC on Monday, and he indicated that he was in favor of continuing asset purchases at a rate of $85 billion per month all the way through 2013.
Investors are concerned about inflation. But how can investors attempt to inflation-proof their portfolios? Buy TIPS? Short Treasury bonds? Stocks? Real Estate? Commodities? Gold? Currencies? Or should investors regard those warnings about inflation as fear mongering?
Silver, the people's metal, is making a comeback, and its not hard to understand why. Everywhere you look, people are becoming more concerned regarding financial crises, fiscal irresponsibility, and political incompetence.