Yen at record high against US dollar
ByJamie Chisholm, Global Markets Commentator
Published: March 14 2011 04:38 | Last updated: March 16 2011 21:53
Wednesday 21.50 GMT. The yen soared to its highest level against the US dollar since the second world war - setting a new high of Y76.36 - as investors grew more confident that Japanese investors and institutions will sell foreign assets and bring money home for reconstruction efforts.
Current Gas Prices and Price History |
New-home construction plunges in February
AP posted: 6:22 PM 03/16/11WASHINGTON -Builders broke ground last month on the fewest homes in nearly two years and cut their requests for permits to start new projects to a five-decade low. The decline in construction activity is the latest evidence that the housing industry is years away from a recovery.
Home construction plunged 22.5 percent in February from January to a seasonally adjusted 479,000 homes, the Commerce Department said Wednesday. It was the lowest level since April 2009 and the second-lowest on records dating back more than a half-century.
The decline followed a surge in highly volatile apartment construction in January, which pushed the overall construction rate up to more than 600,000 units — the fastest rate in 20 months. Still, the building pace has been far below the 1.2 million units a year that economists consider healthy.
Home construction plunged 22.5 percent in February from January to a seasonally adjusted 479,000 homes, the Commerce Department said Wednesday. It was the lowest level since April 2009 and the second-lowest on records dating back more than a half-century.
The decline followed a surge in highly volatile apartment construction in January, which pushed the overall construction rate up to more than 600,000 units — the fastest rate in 20 months. Still, the building pace has been far below the 1.2 million units a year that economists consider healthy.
See full article from DailyFinance: http://srph.it/g6Ymgn
Wholesale prices spike on steep rise in food, oil
Updated: Mar 16, 2011 - 12:54PM
AP
WASHINGTON -Higher energy costs and the steepest rise in food prices in nearly four decades drove wholesale prices up last month by the most in nearly two years. Excluding those categories, inflation was tame.The Producer Price Index rose a seasonally adjusted 1.6 percent in February, the Labor Department said Wednesday. That's double the rise from the previous month and the biggest increase since June 2009.
Food prices soared 3.9 percent last month, the biggest gain since November 1974. Harsh winter freezes in Florida, Texas and other southern states sent fresh vegetable prices soaring, representing 70 percent of the increase. Tomatoes, green peppers and lettuce all more than doubled in price.
Kliphnote: As I said back in 2008, is still true today.
Obama does not want to make decisions. Does not want the responsibility.
That is why he abstained about 120 times as an Illinois senator.
He had an agenda to push his social programs, and that's what he's done.
An example:
He took $500 billion out of Medicare to pay for his health care.
To hell with the people that paid into Medicare their whole working lives.
Just give it to people that don't work.
The list goes on.
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