US Individual Savings on the Increase
It appears that most of the billions the US government has spent to stimulate the economy is finding its way into savings accounts rather than the economy. While consumer spending rose a modest 0.3 percent last month, the personal savings rate has jumped from near-zero last year to 6.9 percent in May. More
China Raises Dollar Issue Again
The dollar was headed downwards this morning as the Bank of China renewed its call for a “super-currency” to replace the US dollar as the world’s primary reserve currency. More
Oil Retreats on Lower Demand
Oil prices fell below $70 a barrel on falling demand losing 43 cents to $69.80 by mid-day trading in Europe. More
