The classic line about financial markets is that they can deal with good news and they can deal with bad news, but they just can’t handle uncertainty.
By that reckoning, it’s a wonder markets aren’t in full-blown cardiac arrest right now. There’s the bizarre drama and uncertainty of the presidential race, of course. But add to that a host of other unknowns that may have much more bearing on the economy and your finances than whoever wins the White House.
Read the Full Article: Source – LA TimesRead More
Time For Truth: (LA Times) – Protect your money: Look out for these uncertainties looming over the economy
The government ran a $587 billion budget deficit for the just-completed fiscal year, a 34 percent spike over last year after significant improvement from the record deficits of President Barack Obama’s first years in office.
Friday’s deficit news, while sobering, does not appear bad enough to jolt a gridlocked Washington into action to stem the flow of red ink. It came in an annual report by the Treasury Department and the White House budget office.
Read the Full Article: Source – Mc ClatchyRead More
Time For Truth: (Mc Clatchy) – Obama administration: Budget deficit increases to $587B
The national debt hit $19.5 trillion for the first time ever this week, a little more than seven months after it hit the $19 trillion mark.
The debt clocked in at $19.51 trillion at the end of Wednesday, the Treasury Department reported Thursday afternoon. Precise debt figures on any given day are released on the following business day.
The national debt hit $19 trillion for the first time ever on Jan. 29.
Stocks keep reaching new heights, and investors keep giving them the side eye.
Even as the Standard & Poor’s 500 index was setting a string of records through July, nearly as many dollars were leaving stock funds as entering. Investors are still skeptical of a market that hurt them so painfully during the 2008 financial crisis.
Read the Full Article: Source – CBS NewsRead More
Time For Truth: (CBS News) – Stocks keep going up, and investors keep saying no thanks
The global economic situation is grim and major economies must lead the way in tackling problems including sluggish growth and weak trade, China’s trade minister Gao Hucheng said on Saturday.
Gao made the remarks at the start of a two-day meeting of trade ministers from G20 economies in Shanghai, as uncertainty hangs over the outlook for a slow-growing global economy now beset by post-Brexit reverberations.