May 18, 2012
The US is devaluing the dollar to boost exports and improve the economy,
says investment manager and author of
Currency Wars, James Rickards. But the
devaluation comes at the expense of other countries.
And they fight back by
devaluing their own currencies.
James Rickards, Senior Managing
Director of Tanget Capital Partners,
and author of "Currency
Wars - The Making of the Next Global Crisis",
thesis at the latest Casey Research Conference,
Reality Check" in Weston, Florida.
More about Currency Wars and James Rickards
April 11, 2012
Guest: James Rickards
Topic: Currency wars are one of the most destructive and feared
outcomes in international economics. Left unchecked, the next
currency war could lead to a crisis far worse than the panic of
Author James Rickards shares details in a discussion over his
book "Currency Wars - The making of the next global crisis"
Bank Profits Hit 5-Year High
by Matt Bewig
May 27, 2012
Four years after crashing the global economy as a result of their
irresponsible gambling with other people’s money, U.S. banks posted record
profits for the first quarter of 2012, according to a report released by the
Federal Deposit Insurance Corporation (FDIC).
Quarterly Banking Profile showed bank net income for the first
quarter of 2012 was $35.3 billion, up by $6.6 billion from the first quarter
of 2011, while total revenues increased for only the second time in the past
In other good news for Wall Street, the number of banks on the FDIC’s
“problem list” fell from 813 to 772, the smallest number since the end of
2009, and the assets of such institutions fell from $319 billion to $292
Only 16 banks failed in the first quarter, the
fewest failures in any one quarter since the fourth quarter of 2008.
However, loan balances declined by $56.3 billion (0.8 percent) after three
straight quarterly increases, and commercial real estate loans and home
equity loans continued to shrink.
Meanwhile on Main Street, unemployment remains stubbornly above 8% for the
39th straight month.