When it comes to paying taxes, no one likes surprises. It’s nice to know up front an estimated amount of taxes you’ll owe and be prepared to pay accordingly. If you are self-employed and/or a contract worker, AKA a 1099 worker, it’s essential that you keep track of all invoices and payments. This will help…
Standard investment portfolios haven’t changed much in recent years. Depending on who the investor is, portfolios usually hold some variation of fixed income, equity, blue chip allocations, and alternative investments. People who are planning for retirement know they need diverse portfolios, but they shy away from risky investments. However, that landscape is shifting as young…
Third China devaluation, EURUSD in dilemma A third China devaluation took place today but this time it came to no one’s surprise. On Tuesday the CNY was devalued by 1.9%, on Wednesday a further -1.6% and today -1.1%. This sent shockwaves across stock markets as now Chinese will find it more expensive to import goods….
The gold promoters are trying to claim that China is understating its gold reserves because it is trying to confuse the markets about their clear ambitions to make the yuan a world reserve currency to challenge the hegemony of the U.S. dollar. The rally in gold was technical and a closing above 1109 should spark a rally…
Fixing the Economists Article of the Week by Philip Pilkington The following is an article that I wrote for a newspaper and was never published: In a recent interview with The Guardian Ed Miliband summoned up the ghost of the post-war prime minister and Labour Party icon Clement Atlee to support his recent austerity push within…
Things continue to line up in textbook fashion for a major financial crisis by the end of 2015. This week, Wall Street has been buzzing about the first “death cross” that we have seen for the Dow since 2011. When the 50-day moving average moves below the 200-day moving average, that is a very important psychological…
China’s devaluation is an effort to stimulate an economy that is growing less rapidly than its potential. China is not in recession—probably—but its growth rate has certainly slowed. The devaluation will help, but don’t expect any immediate miracles. The official statement from the People’s Bank of China reads like something Alan Greenspan might have written. The gist…
Say, do you want to see what short covering into a market close looks like? It looks like this… It was fairly hilarious watching the streaming quote screen start blinking green lights like crazy into the final few minutes.
Market Summary News of China’s further devaluation of the Yuan upon evidence of continued economic weakness sent U.S. stock prices falling during the first hour of trading. However, the bulls made quick mincemeat of the bears and gored them into submission by pushing stocks into positive territory. Other asset classes which distinguished themselves were Gold…
The “one-off” adjustment has now reached its 3rd day as The PBOC has now devalued the Yuan fix by 4.65% back to July 2011 lows. The PBOC seeks to reassure… *CHINA PBOC SAYS YUAN REMAINS STRONG CURRENCY IN LONG-TERM *PBOC SAYS THERE IS DEMAND FOR DEVALUATION OF YUAN VS USD *PBOC CHANGE OF YUAN MECHANISM…
