National Inflation Association

Discussion in 'The Okie Corral' started by Atlas, Mar 17, 2010.

  1. Atlas

    Atlas transmogrifier

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    Oct 1, 2001
    north of the equator

    The U.S. government this week reported a record monthly budget deficit for February 2010 of $220.9 billion. Total tax receipts for the month were only $107.5 billion compared to outlays of $328.4 billion. The total U.S. deficit for the first five months of fiscal year 2010 was $651.6 billion, with tax receipts of $800.5 billion and outlays of $1.45 trillion. The deficit was up 10.5% for the first five months of fiscal year 2010 over the same period in fiscal year 2009.


    The greenback fell as much as 0.7 percent against a basket of six major currencies. “The Fed is going to have a difficult time raising rates during such a fragile recovery” said Frank McGhee, head dealer at Integrated Brokerage Services LLC. “The dollar is weaker, and you have a pop in gold and oil.” Investors in Europe also continued to buy gold as an alternative to holding the euro. “There is still concern about euro policies,” said Bernard Sin, head of currency and metals trading at MKS Finance SA. ...
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    Last edited: Mar 17, 2010