World Financial Market Update

Coal Mine Safety Recent accidents and death in mining projects will put pressure on government to increase scrutiny and improve security measures in mining operations. The most recently reported coal operation disaster killed 25 miners at a Massey Energy (MEE) mine in West Virginia this week. Another major disaster occurred in China just days before the Massey incident that cost 32 lives. There

Financial Shape of America

The Wall Street Journal, USA Today, and Parenting magazine have released shocking statistics on the financial shape of most Americans: about 70% live paycheck to paycheck, about 50% couldn’t cover one month’s expenses if they were laid off, and 44% systematically prepare for retirement by investing. According to USA Today, only 3 out of 100 people age 65 are financially secure; 97 of them can’t

Speeding up short sales; Government, lenders try ways to make short sales simpler and quicker http://ow.ly/1qH2V

Citigroup Warns About China

According to Citigroup economists, China appears to be on track for an “asset boom, bubble and bust” that may take three years to play out and probably won’t be thwarted by tighter economic policy. This process is expected to begin in the residential property market before spreading to commercial real estate and ultimately to stocks. This process may take as long as two years for the asset bubble

U.S. sales tax rates hit record high. Top tax is 12 percent; Chicago’s 10.25 percent is highest big-city rate http://ow.ly/1kaVT

Fannie Mae seeks $15.3 billion more in aid; Troubled mortgage finance company posts $16.3 billion quarterly loss http://ow.ly/1duC0

Analysts see the cost of gas rising; ‘There is no legitimate fundamental reason’ http://ow.ly/1duyr