Money in a Minute: Headlines for March 25, 2011

What's Hot

5 Reasons to Shop for a Home in DecemberFamily

Shoppers Boycott Businesses Selling Trump-Branded ProductsBusiness

Giving Thanks: Why Foreigners Find America AmazingAround The House

Why Washing Your Turkey Can Make You IllFamily

50 Best Gifts Under $25 for Everyone on Your ListFamily

Pay $2 and Get Unlimited Wendy’s Frosty Treats in 2017Family

What the Richest 1 Percent Earns in Every StateFamily

10 Ways to Retire Earlier Than Friends on the Same SalaryGrow

The 10 Best Ways to Blow Your MoneyCredit & Debt

7 Foods That Can Lengthen Your LifeFamily

The 50 Hottest Toys of the Past 50 YearsFamily

New Email Phishing Scam Targets Amazon ShoppersMore

7 Government Freebies You Can Get TodayFamily

In today's news: Oil prices surge to 30-month high, new home sales hit an all-time low, medical marijuana is a smokin' business, a drought in Texas could rain on food prices, and the average American family lost more than 20 percent of their net worth between 2007 and 2009.

OIL: Oil – near $106 and rising

Crude oil prices rose above $106 a gallon as Mideast protests spooked investors – and those prices could go even higher. “If all oil production ceased in Libya, Bahrain and Yemen, oil prices could rise to $125 a barrel,” CNN Money reports. “Libya is just the start of the worries. A bomb exploded on a Jerusalem bus Wednesday, and escalating violence between Syrian security forces and anti-government protesters left 15 dead.”

HOUSING: U.S. new-home sales unexpectedly fall to lowest on record

While the economy is showing signs of life, the new-home market is deader than ever. “Purchases of new U.S. homes unexpectedly declined in February to the slowest pace on record and prices dropped to the lowest level since December 2003,” Bloomberg reports. And it’s not much better for existing home sales – those dropped 9.6 percent last month.

DRUGS: Medical marijuana becoming blockbuster drug

“Medical marijuana is now a $1.7 billion market,” MSNBC reports. By comparison, Viagra rakes in just a little more: 1.9 billion per year. And Viagra is available everywhere, while medical marijuana is only being sold in 15 states. “If another 20 states pass medical marijuana laws,” MSNBC says, “the market could grow to $8.9 billion in 2016.”

FOOD: Worst Texas drought in 44 years eroding U.S. wheat, beef supply

What’s bad for Texas is bad for the rest of us. “The worst Texas drought in 44 years is damaging the state’s wheat crop and forcing ranchers to reduce cattle herds,” Bloomberg reports, “as rising demand for U.S. food sends grain and meat prices higher.”

ECONOMY:Household wealth down 23 percent in 2 years

The recession has taken its toll on everyone. “The average American family’s household net worth declined 23 percent between 2007 and 2009,” CNN Money reports. “Families that owned stock saw their portfolios drop by more than a third to $12,000 from $18,500, on average. The value of primary real estate holdings decreased by an average of $18,700.”

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: The 7 Worst Things to Buy at a Dollar Store

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,772 more deals!