December 4, 2013

US banks warn Fed interest cut could force them to charge depositors- Financial Times--11.24.13
Leading US banks have warned that they could start charging companies and consumers for deposits if the US Federal Reserve cuts the interest it pays on bank reserves. Paying to leave money in the bank would be highly unusual and unwelcome for companies and households.

Guest Post: The 5 Economic "Big Lies" The Government Is Telling You - Zero Hedge--11.20.13
According to a whistleblower that has recently come forward, Census employees have been manipulating U.S. employment numbers for years. It is also being alleged that this is a significant reason for why the official unemployment rate dipper sharply just before the last presidential election.

U.S. taper, debt crisis threaten global recovery: OECD - Market Watch--11.19.13
The uncertain future of the U.S. fiscal anf central-bank policies poses a growing risk to the global economic recovery, one that has already been weakened by a slowdown in growth in many developing economies, according to the Organization for Economic Co-operation and Development.

Botched ACA Rollout Hammers Obama; Job Disapproval Reaches a Career High - ABC News--11.19.13
Barack Obama has received a lot of criticism over the botched rollout of the Affordable Care Act. Disapproval of his job performance has not reached a career high as his job approval rating has fallen to 42%, according to a new ABC News/Washington Post poll.

80 is the new 60 when it comes to retirement - New York Post--11.16.13
Running out of money during retirement has scared a record number of older workers, forcing them to stay in the workforce. By putting off retirement the Baby Boomers have become a large reason for the high levels of unemployment for those looking to enter the workforce.

Yellen Signals Continued QE Undeterred by Bubble Risk - Bloomberg--11.15.13
Janet Yellen indicated she will continue on with the Federal Reserve's monetary policy until she sees a robust recovery. Yellen signaled her determination to use bond buying to strengthen the economy and bring down the nation's 7.3 percent unemployment rate.

Moody’s cuts ratings of three big US banks - CNBC--11.14.13
Moody's has cut the credit ratings of three big U.S. banks including Morgan Stanley, Goldman Sachs and JPMorgan Chase after deciding that the federal government is less likely to bail the financial institutions out if they get into future difficulties.

U.S. jobless claims fall slightly to 339,000- Market Watch--11.14.13
The number of people who filed new applications last week to receive unemployment benefits has fallen for the fifth week in a row. However, these rates still remain above end-of-summer levels.

Janet Yellen: Fed still has more help to offer the economy - CNN Money--11.13.13
According to Janet Yellen, who is expected to succeed Ben Bernanke as head of the central bank, the Federal Reserve helped restart the economy after the recession, but there is still more work that needs to be done.

Russian lawmaker wants to outlaw U.S. dollar, calls it a Ponzi scheme - The Washington Times--11.13.13
A Russian lawmaker submitted a bill to his country's parliament that would ban the use or possession of the U.S. dollar. He believes the dollar is a Ponzi scheme, warning that the government would have to bail out Russians holding the U.S. currency if it collapses.

Andrew Huszar: Confessions of a Quantitative Easer - The Wall Street Journal--11.11.13
Former Federal Reserve Official Andrew Huszar is apologizing to America for being responsible for executing the Fed's first plunge into the bond-buying program now known as quantitative easing. According to Huszar, the central bank continues to spince QE as a tool for helping Main Street when really it is the "greatest backdoor Wall Street bailout of all time."

Consumer sentiment slides in October on government shutdown - CNBC--10.25.13
U.S. consumer sentiment dropped in October to its lowest level since the end of last year as consumer worry about how Congressional dysfunction and the partial government shutdown would hurt growth.

International Monetary Fund Recommends Stealing Americans' Wealth Now! - Freedom Outpost--10.22.13
Americans are starting to realize that the things they earned, built and own no longer belongs to them. Now, international elitists, including those from the U.S., are coming to take Americans' property.

Job growth disappoints, so the Fed is on hold - MarketWatch--10.22.13
As the U.S. economy continues to disappoint, the Federal Reserve will have no choice but to keep buying bonds in the market in hopes of stimulating more growth. Now, the idea of tapering the bond purchasing program is off the table through the end of the year.

Faber: Fed could up QE to $1 trillion a month- CNBC--10.21.13
According to expert Marc Faber, investors should be asking when the central bank will increase is massive bond-buying program, not taper it. Currently the Fed is buying $85 billion worth of bonds every month and Faber is predicting that this amount will increase and the US will be stuck in QE infinity.

Bloomberg Faults Congress for ‘Kicking the Can Down the Road’ - Politicker--10.16.13
Washington lawmakers have finally reached a deal to re-open the government just hours before the debt ceiling deadline, but Mayor Michael Bloomberg just claims it as "kicking the can down the road." Come January, we are going to have the same problem.

White House: 'There are no winners here' - Politico--10.16.13
According to press secretary Jay Carney, "There are no winners here," with regard to the deal to end the government shutdown as raise the debt limit. Carney also wanted to remind individuals that the U.S. is not out of it yet and we need action to be taken so the government can open back up.

The sun is setting on dollar supremacy, and with it, American power - The Telegraph-- 10.14.13
Currently, the U.S. dollar is the dominant means of exchange throughout the world and international investors flock to the greenback as a safe haven for their money. The dollar is known to be highly liquid and apparently reliable, until recently.

"News and commentaries posted at Swiss America does not necessarily express the opinions of Swiss America nor of its personnel. Swiss America attempts to post only credible news and opinions, however we do not take responsibility for the accuracy of external content nor should it be construed as an endorsement."