Posts by Aaron Task
- Aaron Task at Yahoo Finance3 days ago
You probably know Gene Simmons as the fire-breathing, blood-spitting "demon" character in the iconic rock band KISS. You may also know Simmons as the somewhat spaced out father on the reality TV series Simmons Family Jewels, which ran for eight seasons on A&E.
You probably don't know that Simmons is the quintessential American success story: He immigrated to America from Israel as a young child, learned English from watching TV newscasters and worked a variety of odd jobs to help support his mother and put himself through college. Simmons also dreamed of 'making it big' in rock n' roll; few bands ever made it as big as KISS. No matter what you think of the music, you can't deny the success: KISS has sold over 100 million records and continues to tour the world 40 years after its founding
- Aaron Task at Yahoo Finance5 days ago
On Sunday, the European Central Bank will release the results of its 'stress test' of 130 regional lenders. Speculation is already building over which banks will get failing grades; 25 banks are set to fail
Aaron Task is Editor-in-Chief of Yahoo Finance. You can follow him on Twitter at @aarontask
- Aaron Task at Yahoo Finance8 days ago
If the definition of insanity is "doing the same thing over and over again and expecting a different result," then clearly Albert Einstein is not responsible for America's housing policies.
- Aaron Task at Yahoo Finance10 days ago
In his 2013 book The Age of Oversupply, Westwood Capital's Dan Alpert argued the global economy is suffering an oversupply of labor, capital and productive capacity relative to demand. He called it a "reverse supply shock." The book featured a number of solutions to the issue -- namely more government spending on infrastructure. But the problem Alpert identified -- the specter of deflation -- has raised its ugly head and given financial markets a jolt this month.
"The problem is that when you have this global deflationary pressure that is bearing down on the advanced nations that’s even affecting the emerging nations, that’s a big problem," Alpert says. "And the big problem is that eventually prices are going to start to fall. Prices for goods and services."
Related: Why deflation is so scary
- Aaron Task at Yahoo Finance22 days ago
In late August, The New York Times ran a provocative op-ed by Jared Bernstein entitled "Dethrone King Dollar."
Yes, here was a former White House economist -- Vice President Joe Biden's chief economist, no less -- arguing that the dollar's status as the world's reserve currency is a "privilege...America can no longer afford."
U.S. Treasuries continue to benefit from the combination of rising geopolitical tension and fears of slowing global growth. At 2.54%, the yield on the 10-year Treasury hit their lowest level since Sept. 11 on Tuesday morning.
Nevertheless, the conventional wisdom on Wall Street is bond yields are set to rise as the Federal Reserve winds down its quantitative easing program next month and (presumably) starts to actually tighten policy next year. Goldman Sachs Asset Management predicts yields on the 10-year will rise to as high as 4% in the next 12 months, Bloomberg reports.
Of course, predictions of rising Treasury yields have been a mainstay of Wall Street forecasts in recent years and -- save for the "taper tantrum" last spring -- have proven greatly exaggerated. In short, the continued strength in U.S. Treasury prices (which move in opposition to yields) has been one of the most surprising developments in financial markets in recent years -- certainly in 2014.
More than 300,000 people marched through Manhattan Sunday, in an effort to bring attention to climate change, with companion efforts in 150 other countries. On Monday, a small subset of Sunday's participants marched on Wall Street to protest the financing of greenhouse gas-emitting industries.
The marches come ahead of a United Nations summit on climate change Tuesday, where President Obama is scheduled to speak. In addition, UN Secretary General Ban Ki-Moon is hosting a meeting to discuss climate change with executives from companies such as Air France-KLM, Siemens, Royal Dutch Shell and McDonald’s, as well as former U.S. Vice President Al Gore, Bloomberg reports.
Ahead of the President's address, White House budget director Shaun Donovan on Friday said: "Climate denial will cost us billions of dollars."