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The renminbi moves closer to climbing against the dollar

It looks like the fix is in. The governments in Beijing and Washington look like they’re figured out a formula that will lead, sooner rather than later, to an end to the renminbi/dollar peg and the appreciation of China’s currency versus the dollar. Sooner, I’d say,...

Winners in banking's new world order

All we need is Will Smith and some zombies. Tattered for rent signs hang in the windows of the building that once housed Bear Stearns. All that’s left of Lehman Bros. is a digital crawl that endlessly cycles news. American International Group keeps itself alive by...

Here's how the U.S. could lose its AAA credit rating

The good news, according to Moody’s, is that the U.S. government will spend about 7% of its total revenue in 2010 servicing the huge U.S. debt. That will rise to 11% of total revenue in 2013. That’s the good news? Well, sure. Moody’s, one of the three major debt...

Euro rally a one day wonder? (Maybe three?)

Today’s rally in oil and other commodities that pushed the entire stock market higher was built on a weak dollar and a stronger Euro. Right now this looks like just a euro bounce. A one (or at most a few days) wonder. The Euro is still well below its 200-day moving...