Kevin J. Resurreccion

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Warren Buffett On Debt Ceiling Debate: 'We'll Go Right Up To The Point Of Extreme Idiocy'

Congressional Republicans aren’t stupid enough to hold America’s full faith and credit hostage to politics, but they'll get pretty close, according to Warren Buffett.<p>The billionaire investor told Andrew Ross Sorkin on CNBC Thursday that Congress will probably raise the nation’s debt ceiling in time …

Christine Lagarde tells US that debt crisis threatens world economy

IMF chief says US politicians must overcome shutdown and raise US debt ceiling before 17 October deadline<p>Shares in New York fell sharply on Thursday after the US Treasury warned that the budget fight between Republicans and Democrats in Washington risked plunging the world's biggest economy into …

Without Key Jobs Data, Markets And Economists Left Guessing

Stock investors and business journalists unite each month for one shared, suspenseful moment — the 8:30 a.m. release of the Labor Department's employment report.<p>The unveiling of the report — so rich with data on job creation, unemployment, wages and hours — can be counted upon to set off a tsunami …

Stocks Fall Amid Shutdown Stalemate, D.C. Shooting

U.S. stocks fell for the second day in a row on Thursday as the Federal Government remained shut down due to an emergency budget stalemate and lawmakers gave little indication that an agreement is being reached to raise the $16.7 trillion debt ceiling of the United States.<p>A gunshot drama near The …

India bank raises interest rates to curb inflation

India's new central bank governor has raised key interest rates by a quarter of a percentage point in an attempt to reduce inflation.<p>The repo rate - the rate at which the central bank lends to commercial banks - was raised from 7.25% to 7.50%.<p>The cash reserve ratio - the percentage of banks' …

China’s spending 39% of its GDP paying off debts

China pumped $3.4 trillion into China’s economy last year, according to a new report by credit rating agency Fitch. And for another fun number: local governments have amassed $3.3 trillion in debt, says a Chinese government-affiliated economist.<p>On their own, the numbers might be hard to grasp. But …

Finance

Poll: 39 Percent of American Adults See College as an 'Economic Burden'

But the majority of parents still expect their kids to go.<p>Average yearly tuition at a four-year college has risen to over $21,000, student loan debt is at an all-time high, and the unemployment rate for recent college graduates is 7.9 percent. Perhaps it’s no surprise that Americans are questioning …

Three Investing Billionaires Have Recently Come Out With Cautious Statements On The Stock Market

In unusual timing, we've recently heard from three investing billionaires (Warren Buffett, Carl Icahn, and Stanley Druckenmiller) suggesting that the stock market is getting rich and fully valued.<p>From O'Rourke:<p>[Buffett] noted that the equity market was fairly valued and stocks were not overvalued. …

Investing