Most Americans don't realize the market gained 30 percent last year, and only 1 in 9 call themselves savvy about investing, according to a survey.» Read More
How should you invest to profit from the one-year cut in payroll taxes that are promised in the tax compromise deal cut this week between Obama and Republican lawmakers?
The answer depends on what you think will happen to the extra-income people receive from the payroll tax cut. It’s not a lot of money: the benefit tops out at $2,100 per year for workers making $106,800 or more. But the Obama administration has high hopes that it will stimulate more consumer spending—which could create investment opportunities.
We've heard it before: Spain is too big to fail—and too big to be saved .
As I reported last month , Spain has €1 trillion of outstanding public debt.
Sovereign debt statistics, and their corresponding bailout numbers, can sometimes induce a drowsy numbness. Sure: €1 trillion—about $1.3 trillion—sounds like a lot of money.
But so does $100 billion.
Here is the takeaway fact, which can get lost in the noise: Spain has an economy twice the size of Greece, Portugal, and Ireland—combined.
The political barbs are being traded on Capitol Hill over the deal to extend the Bush era tax cuts. As the list of disgruntled Dems grows, worry over the fate of this deal increases as well.
One of the main reasons why President Obama said he's favor of this deal is that it will spur job creation. I decided to go to one of the big job creators in our country, Tig Gilliam, to ask about the tax deal.
Gilliam is the Regional Head of North America for Adecco Group, which does termporary staffing, permanent placement, outsourcing, consulting and outplacement. What do his clients think of this latest developments? Is he confident the deal will hold?
Earlier today I pointed out that personal finance website Smart Money was urging people to save rather than spend the extra income they’ll get from the temporary payroll tax cut. My point was to say that this could undermine the hopes of the Obama administration that the tax cut will create stimulus for the economy.
Now more than one of my readers scoffed at the idea that there was anything useful to be gained from reading personal finance journalism.
The main objection they had was that people do not really listen to personal finance writers. The secondary objection was that personal finance writing is useless because it is always either old news or a contrary indicator.
We got new information today about how the FBI attempted to pursue Steven Cohen at SAC Capital Advisors during its ongoing investigation of insider trading.
We already knew that the FBI showed up at the home of John Kinnucan, owner the independent research firm Broad Band Research, and asked him to wear a wire — in order 'ensnare' his client: SAC Capital.
Today, found out the name of the FBI's target at SAC: Michael Steinberg.
Steinberg is currently a tech-fund manager at SAC, working for a division called Sigma Capital Management, subsidiary with $1.5 billion AUM. This morning, Satya Wachtel introduced us to Mr. Steinberg , of Park Avenue, about who little had been known.
Steinberg has not been accused of any wrongdoing.
Citigroup remains too "interwoven" to fail even after the government has plowed billions into rescuing the banking titan and Congress has passed laws taking aim at financial behemoths, Citi Chairman Richard Parsons told CNBC.
Irving Picard is busier than a garment district loan shark after the Yankees drop a double header to The Mariners.
Picard has until midnight on Saturday , which is two years to the day after Madoff was criminally charged, to file suit against those individuals and institutions. He and his team expect to file more than 1,000 lawsuits before the deadline.
Who's in the club? Here's a rundown of some highlights:
Americans who have been on unemployment benefits for a very long time might have felt a twinge of relief when they learned that the tax deal cut in Washington, DC this week would extend unemployment benefits for another 13-months.
But if those who have been on unemployment for close to the maximum time permitted in their state thought the new “extension” would keep them from getting cut off, they’ve made a mistake.
The “extension” does not extend the number of weeks on which anyone can collect unemployment. That number still stands exactly where it did before the extension.
In five states with the least joblessness, the unemployed can collect for sixty weeks. In 23 other states, workers can collect for between 73 and 93 weeks. In the 25 worst hit states, unemployment compensation is available for 99 weeks.
The Obama administration hopes that a one-year, 2 percent cut in payroll taxes will stimulate spending by consumers and give the economy a boost. But if the reaction from personal finance sites is any indication, consumers are likely to save more of the money than the administration hopes.
Take SmartMoney. This morning it came out with a rather straight-forward article entitled “What To Do With A Payroll Tax Cut.” It begins by pointing out that the Obama administration has a theory that this kind of tax cut—which delivers a small boost in workers’ paychecks—will encourage more spending and provide more economic stimulus than the Bush era rebate checks did. \(This theory is, to say the least, unproven. We pointed out some serious flaws in it yesterday .\)
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Pimco's New York location is addressing an "isolated issue with insects," and as a precautionary measure, is fumigating certain areas of its office.
Markets are now anticipating a more hawkish tone from the Fed, but maybe not from Yellen when she speaks at the Jackson Hole symposium.
Most Americans don't realize stocks gained 30 percent in 2013, and only 1 in 9 call themselves savvy on investing, a survey said.