Could Amerika go broke?
WASHINGTON - November 2, 2009 - The idea that the government of a major advanced country would default on its debt - that is, tell lenders that it won't repay them all they're owed - was until recently a preposterous proposition. Argentina and Russia have stiffed their creditors, but surely the likes of the United States, Japan or Britain wouldn't. Well it's still a long shot, but it's no longer entirely unimaginable. Governments of rich countries are borrowing so much that it's conceivable that one day the twin assumptions underlying their burgeoning debt (that lenders will continue to lend and governments will continue to pay) might collapse. What happens then?
Economist claims world risks Depression if stimuli are not continued!
NEW YORK - November 2, 2009 - The world will slump into a Depression similar to that in the 1930s if stimulus measures are pulled out too soon, Roger Nightingale, economist at Pointon York, told CNBC Monday.
U.S. dollar continues to fall!
NEW YORK - November 2, 2009 - The dollar slid against high-yielding currencies, led by the Australian dollar, as China reported a surge in manufacturing and investors bet that factory production in the U.S. would accelerate. Oil, copper and gold climbed.
Small business lender CIT declares bankruptcy!
NEW YORK - November 1, 2009 - CIT Group, one of the largest small-business lenders in the United States, filed for bankruptcy Sunday with its board approving a "prepackaged" restructuring plan to shed 10 billion dollars in debt.
Nine banks seized in largest one-day haul!
LOS ANGELES, Kalifornia - October 31, 2009 - U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans.
Billionaire sees coming huge commercial real estate crash!
NEW YORK - October 30, 2009 - Billionaire investor Wilbur L. Ross Jr. said today the U.S. is in the beginning of a “huge crash in commercial real estate.”
U.S. Airways cutting 1,000 jobs and reducing flights!
TEMPE, Arizona - October 28, 2009 - Struggling U.S. Airways said on Wednesday it will cut some 1,000 jobs next year, shift nearly all of its flying to its three hubs and Washington, and suspend several international routes.
More Articles ...
- CIT Group receives $4.5 billion from creditors!
- Number of foreclosures double in Washington area!
- New home sales fall faster than expected!
- Current economy at 26-year low!
- U.S. Steel posts third straight quarterly loss!
- Big commercial lender Capmark files for bankruptcy!
- AMBROSE EVANS-PRITCHARD: Food will never again be so cheap!
- Bank failures hit 106 for year!
- Higher jobless rates could be the new norm!
- Revised formula puts 1 in 6 Amerikans in poverty!
- School's out for Depression!
- More State government layoffs expected soon!
- City managers to take off five weeks!
- Financial Armageddon proves parable for local governments!
- Foreclosures force former owners to turn to shelters!
- U.S. bank failures top 100!
- Latin America bloc to stop using dollars in trade!
- Foreclosures level over past three months worst of all time!
- Fed warns of commercial real estate collapse!
- CIT bankruptcy looms as debt swap struggles!
- Continuing Depression now being blamed on low demand!
- Commercial real estate to drive bank failures!
- Dollar reaches breaking point as banks shift reserves!
- Steep losses pose crisis for pensions!
- Number of small bank failures increases!
- U.S. states suffer unbelievable revenue shortages!
- Tens of thousands demand financial help!
- Foreclosures mark pace of ongoing housing crisis!
- Gold hits new record high for third consecutive day!
- Inventories at U.S. wholesalers fall for 12th straight month!
- The demise of the dollar!
- Apartment glut expands!
- More businesses expected to fail!
- AMBROSE EVANS-PRITCHARD: Banks brace for Latvia's collapse!
- Bank failure tally approaches century mark!
- New jobless claims rise more than expected!
- State prepares for shutdown as budget deadline looms!
- Consumer confidence unexpectedly falls!
- U.S. income gap widens as poor take hit in Depression!
- Japan deflation deepens!
- AMBROSE EVANS-PRITCHARD: Merkel warns on spending cuts, fearing Depression era!
- U.S. may collapse if China and Japan don't buy debt!
- Job losses and early retirements hit Social Security!
- AMBROSE EVANS-PRITCHARD: Money figures show there's trouble ahead!
- Simmons plans to file for bankruptcy protection!
- Luxury hotels risk loan defaults!
- Citigroup considers shrinking branch network!
- AMBROSE EVANS-PRITCHARD: Spain tips into Depression!
- Teens lack jobs despite federal stimulus money!
- Depression could stall growth for seven years!
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