MONEY NEWS MAGAZINE

Beware the Predictions of “Experts” Like Janet Yellen

(Ryan McMaken)  Speaking in London, Federal Reserve chair Janet Yellen Tuesday predicted that the “the system is much safer and much sounder” and explained that the Federal Reserve is prepared to deal with numerous enormous shocks to the economy.

In her conversation with Lord Nicholas Stern, Yellen also went on to list the reasons that, thanks to central bank intervention, there is unlikely to be another financial crisis “in our lifetimes.”

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Microsoft is laying off ‘thousands’ of staff in a major global sales reorganization

Microsoft is poised to layoff thousands of employees worldwide in a move to reorganize its salesforce.

A source with knowledge of the planned downsizing told TechCrunch that the U.S. firm would lay off “thousands” of staff across the world. The restructuring is set to include an organizational merger that involves its enterprise customer unit and one or more of its SME-focused divisions. The changes are set to be announced this coming week, we understand.

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Car buyers stretch loan payments to record lengths to get in pricier vehicles

As car buyers’ obsession with bigger, pricier vehicles grows, so does their willingness to take longer to pay for them, says new analysis from Edmunds.com.

The average auto-loan length reached an all-time high of 69.3 months in June. That’s 6.8% longer than five years ago, said the site that provides auto industry statistics and news.

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Silicon Valley Begins to Crack Visibly

There are parts of Silicon Valley where commercial real estate is still hanging on, and there are parts where it has let go.

In Santa Clara, it has let go. Overall availability of office space in Santa Clara was nearly 19% in the first quarter, according to Savills Studley, up from 14% a year ago. Only two other areas in Silicon Valley – Milpitas and North San Jose – show greater availability at respectively 23% and a harrowing 30%.

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