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Uncertainty Escalates as Tomorrow’s Presidential Election Looms
Come Wednesday morning – after the presidential election tomorrow (Tuesday) – the United States will have a new commander-in-chief. The president-elect will face some significant challenges: A weak economy (okay, a recession, given last week’s gross domestic product (GDP) report, which confirmed just how dire the country’s economic situation had become).
While this week’s data from the manufacturing and housing sectors will be eagerly anticipated, nothing compares to Friday’s reports on unemployment and the picture of the ailing labor market. After nine consecutive months of job contraction, few analysts hold out much hope for optimism. In fact, some believe the jobless…
3Nov2008 | Money Morning | Comments Off | ContinuedJim Rogers: More Pain for the Greenback, and the Failure of the Federal Reserve
By Keith Fitz-Gerald
Money Morning
SINGAPORE – By bailing out Wall Street and applying “band-aids” to the economy, the U.S. Federal Reserve may well be causing its own downfall – even as it hastens the demise of the greenback as a viable global currency, investment guru Jim Rogers told Money Morning during an exclusive interview.
Because of such strategic missteps, U.S. consumers could be facing a long and painful economic malaise, similar to the “lost decade” of 1990s Japan, or the stagflation-riddled 1970s in the United States, Rogers said.
Make no mistake: If that happens, there are two clear culprits – current Fed Chairman…
8Apr2008 | Money Morning | 2 comments | Continued
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