Money

News Pelosi: When ‘Obama Won the Election, He Took Us Out of That [Economic] Brink’

At the Americans United rally “Hands Off Social Security & Medicare” at the Capitol on Thursday, House Minority Leader Nancy Pelosi (D-Calif.) blamed Republicans for the economic recession of 2007-09, saying their “lack of regulation and supervision took our country to the brink, and so when President Obama won the election, he took us out of that brink.” “I know you’ve heard from many members of the House and Senate about the importance of the three pillars of security for America’s seniors:

Scam Alert: Hospitals All Over America Are Wildly Inflating Medical Bills

The next time you visit a hospital, it is your wallet that may end up hurting the most. All over the United States, it has become common practice for hospitals to wildly inflate medical bills. For example, it has been reported that some hospitals are charging up to 30 dollars for a single aspirin pill.

World Bank: Economic Impact Of Ebola Outbreak Could Be ‘Catastrophic’

The World Bank released a statement Wednesday warning that the economic impact of the Ebola outbreak in West Africa was “already serious” and could be “catastrophic” if the international community does not take serious action soon. This Ebola outbreak is unprecendented in scope, and worsening with alarming speed. There have been 2,453 deaths counted so far, and 4,963 confirmed, probable, and suspected cases — almost half of which have been diagnosed in the past 21 days.

Super-rich rush to buy ‘Italian Job’ style gold bars

The super-rich are looking to protect their wealth through buying record numbers of “Italian job” style gold bars, according to bullion experts. The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost.

The Federal Reserve signals intent to continue low interest rates

The Federal Reserve reassured financial markets Wednesday that a key interest rate will stay near zero for “a considerable time” after its bond purchases end next month, deferring for now a clear signal on how it will begin to shift away from low-rate policies it’s had in place since the 2008 financial crisis. In a statement following a two-day meeting, the Fed said it will continue to wind down monthly bond purchases that have held down long-term interest rates and end the program next month, assuming the labor market continues to improve. Fed Chair Janet Yellen will further explain the Fed’s thinking at a press conference scheduled for 2:

1 in 9 goes hungry worldwide

One out of every nine people in the world does not have enough food to eat. An annual report from the United Nations released Tuesday estimates that 805 million people suffer from “chronic undernourishment.” The UN’s Food and Agriculture Organization warned that “food-insecurity” remains “unacceptably high” in certain developing economies.

Millions of banknotes sent to Scotland in case Yes vote sparks run on ATMs

Britain’s banks have been quietly moving millions of banknotes north of the border to cope with any surge in demand by Scots to withdraw cash in the event of a Yes vote in Thursday’s independence referendum, it has emerged. Sources told The Independent the moves have been taking place over the past week or so in order to make sure ATMs do not run out on Friday in the event of a panic reaction to a “yes” vote. There have been some suggestions that people will want to move their money to English banks in the event of an independence vote.

Record S&P 500 Masks The Fact That 47 Percent Of Nasdaq Stocks Are Mired In Bear Market

About 47 percent of stocks in the Nasdaq Composite Index are down at least 20 percent from their peak in the last 12 months while more than 40 percent have fallen that much in the Russell 2000 Index and the Bloomberg IPO Index. That contrasts with the Standard & Poor’s 500 Index, which has closed at new highs 33 times in 2014 and where less than 6 percent of companies are in bear markets, data compiled by Bloomberg show. The divergence shows the appetite for risk is narrowing as the Federal Reserve reins in economic stimulus after a five-year rally that added almost $16 trillion to equity values.

Only a monetary ‘nuclear bomb’ can save Italy now

If so, Italy’s public debt will spiral to dangerous levels next year, ever further beyond the point of no return for a country without its own sovereign currency and central bank. “This is catastrophic for the finances of the country. We’re heading for a debt ratio of 145pc next year,” said Antonio Guglielmi, global strategist for Mediobanca.

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