Economy

DHS Chamber Breakfast at MLCC

DHS Chamber Breakfast at MLCC

The Desert Hot Springs Chamber of Commerce met for its monthly breakfast at Mission Lakes Country Club on Wednesday, February 27, 2013. Guest speaker was Bob Schneider, owner and operator of Desert Adventures (red-jeep tours). He gave a fascinating autobiographical account of his background in corporate marketing and how he came to be a business […]

Obama signs sequester bill

Obama signs sequester bill

Austerity has hit the United States as President Barack Obama signed into law a directive ushering in significant cuts to federal agencies’ budgets and triggering the sequester that has been debated in Washington during the last several weeks. In the White House on Friday, President Obama inked his name to the order, and with it […]

Burkmedia the Documentary… Hot Springs 50th Year Anniversary

Burkmedia the Documentary… Hot Springs 50th Year Anniversary

Yes, us here at BurkeMedia Productions have just launched our new Kickstater!  We want to do a documentary about the 50th incorporated year of our hometown, Desert Hot Springs! You can go to the Kickstarter page and donate here. We decided to launch this a bit earlier then originally planned, due to the fact Kickstarter accepted this […]

US unemployment rises in another indication of weak economy

US unemployment rises in another indication of weak economy

The US unemployment rate is on the rise again, with 12,3 million Americans with no job even according to the official statistics, bringing the unemployment rate to 7.9 percent. The unemployment rate rose from 7.8 in December to 7.9 percent in January, leaving 100,000 more Americans unemployed , according to the US Bureau of Labor […]

US banks shaken by biggest fund withdrawals since 9/11

US banks shaken by biggest fund withdrawals since 9/11

US Federal Reserve is reporting a major deposit withdrawal from the nation’s bank accounts. The financial system has not seen such a massive fund outflow since 9/11 attacks. The first week of January 2013 has seen $114 billion withdrawn from 25 of the US’ biggest banks, pushing deposits down to $5.37 trillion, according to the […]

Central banking with ‘other people’s gold’: A $368bn treasure trove in Lower Manhattan

Central banking with ‘other people’s gold’: A $368bn treasure trove in Lower Manhattan

Germany is repatriating its gold reserves from the New York Federal Reserve. This decision has created a frenzy in the gold market. But that is just the tip of the iceberg. According to the NY Fed, there are (2012) approximately 530,000 gold bars, with a combined weight of circa 6,700 metric tonnes stashed away in the […]