Consumer Confidence
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Chinese tourists have overtaken Germans as the world's biggest-spending travelers after a decade of robust growth in the number of Chinese holidaying abroad, reports the United Nations World Tourism Organisation (UNWTO).
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Congressman Ron Paul (R-TX) chairs the House Financial Services Subcommittee, which oversees the Federal Reserve. I interviewed him last night on CNBC’s “The Kudlow Report”.
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CNBC's Sharon Epperson discusses the day's commodities news. Crude closes above $100/barrel as fears in the Middle East grow and Libyan bombers strike a key oil port town critical to oil exports.
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The Middle East crisis will lead to an 'energy shock' for the West, increasing stagflation, David Murrin, author of "Breaking the Code of History" and hedge fund manager, said.
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There is rarely a happy ending when the price of crude jumps sharply, Stephen King, the chief economist at HSBC in London, said.
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The world is going to become richer and richer as developing economies play catch up over the coming years, according to Willem Buiter, chief economist at Citigroup.
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The spread between Brent and NYMEX crude is currently around $15 a barrel and according to Jim Bianco, the president of Bianco Research, this is due to one pipeline pumping crude from Canada into Cushing near Oklahoma City.
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Oil could hit $220 a barrel if "Libya and Algeria were to halt oil production together," analysts at Nomura investment bank predicted.
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Oil prices will need to rise another 50-60 percent before energy costs put a squeeze on consumers with the same impact as 2008, according to the fixed income team at Credit Suisse.
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What were some of the worst inflation situations in history and how did they come to be? Click to find out!