Economy & Markets

Whitney Says U.S. States May Need Federal Bailout

The U.S. government will face pressure to bail out struggling states in the next 12 months, said Meredith Whitney, the analyst who correctly predicted Citigroup Inc.'s dividend cut in 2008.

Census Bureau Quantifies Harsh Toll Of Great Recession

The recession last year hurt almost every part of American life, from household finances to marriage rates and teenage employment, says the Census Bureau.

Operation Reflation

by Jeffrey Kleintop

The Fed's message last week implied it was preparing to take action to help ensure the economy avoids a double-dip recession. How might investors profit from such action?

Roubini Sees High Risk Of A U.S. Recession

New York University Professor Nouriel Roubini said there's a high probability of another recession in the U.S., underscoring risks to the global recovery. 

Dow 'Super Boom' To Drive Index To 38K By 2025, Almanac Says

The Dow Jones Industrial Average will surge to 38,820 in an eight-year "super boom" that will begin in 2017, according to a well-known stock tracker. 

Volcker Says Fixing 'Broken' Mortgage Market Should Be Priority

The U.S. mortgage market is "absolutely broken" and changing the government's role in housing must be a top priority, said former Federal Reserve Chairman Paul Volcker.

Two Senators Say No Vote On Tax-Cuts Before Elections

The U.S. Senate won't pass an extension of the Bush-era tax cuts before the November 2 elections, second-ranking Democrat Dick Durbin said today.

Weighing In On The Cinematic Wall Street

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Advisors reveal how they were impacted by the first "Wall Street" movie and protagonist Gordon Gekko's maxim: "Greed is good."

Bill Gates Tops Forbes' Richest Americans List

Bill Gates remains the richest American with estimated assets of $54 billion, according to Forbes magazine's annual ranking of the 400 wealthiest Americans.

Dementia Costs To Balloon

by Bloomberg News

Financial advisors are familiar with what Alzheimer's disease can cost their clients. An advocacy group now projects that dementias will cost 1% of global GDP this year.

Worst U.S. Recession Since 1930s Ended In June 2009

The longest and deepest U.S. recession since the Great Depression ended in June 2009, lasting 18 months, the National Bureau of Economic Research said.

'Thank God' Bailouts Came Before Handouts

by Bloomberg News

The billionaire vice chairman of Berkshire Hathaway Inc. defended the U.S. financial-company rescues of 2008 and told students that people in economic distress should "suck it in and cope."

U.S. Poverty Rate Rose To 15-Year High in 2009

The U.S. poverty rate rose to the highest level in 15 years in 2009, government data show, underscoring the toll the recession took on household incomes.

Pimco's $8.1 Billion Wager Against Deflation

Bill Gross's Pacific Investment Management Co. made an $8.1 billion wager that the U.S. won't suffer a decade of deflation like the one that crippled Japan starting in the 1990s.

Affording Retirement Becoming Bigger Political Issue

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Voters are becoming more frustrated about being able to afford retirement, and politicians who respond to that frustration will have an advantage, says a new survey.

'Death Spiral' Besets State Pensions

U.S. state pensions have insufficient assets to cover benefits, payouts consuming a growing portion of resources and costs rising twice as fast as investment gains.

Arnott: Double-Dip Odds 50% Plus, Beware Reflation

Despite a series of economic reports pointing to a continuing anemic recovery, Research Affiliates founder Rob Arnott believes the odds of a double-dip recession remain above 50%.

New Portfolio Shaped By Vision Of Upheaval

Twin Focus Capital Partners is turning a vision of fundamental economic upheaval into an investment vehicle.

Yale's Fair: Republicans To Win-Narrowly

Democrats may lose control of the U.S. House of Representatives in the November elections after contests that will be closer than polls suggest, according to Yale University economist Ray Fair.

Broken Plans

by Andrew Gluck

Financial advisors urgently need improved tools for coping with the economic mess we're in. What's to be done?