Depression could stall growth for seven years!
NEW YORK - September 22, 2009 - The global financial crisis could hinder economic growth for at least seven years, the International Monetary Fund said Tuesday.
Commercial real estate is next bubble to burst!
NEW YORK - September 22, 2009 - Commercial real estate is the "second shoe" to drop in hurting the economy, Daniel Tishman, chairman and CEO of the Tishman Construction Corporation told CNBC.
FDIC may look to U.S. banks for funds!
NEW YORK - September 22, 2009 - The Federal Deposit Insurance Corp may ask healthy U.S. banks to lend billions of dollars to restore the health of the depleted fund that safeguards bank deposits, The New York Times reported, citing senior regulators.
Iran replaces U.S. dollar with euro in foreign exchange!
TEHERAN, Iran - September 20, 2009 - Iranian President Mahmoud Ahmadinejad ordered the replacement of the U.S. dollar by the euro in the country's foreign exchange accounts.
42 states lose jobs in August!
WASHINGTON - September 19, 2009 - Forty-two states lost jobs last month, up from 29 in July, with the biggest net payroll cuts coming in Texas, Michigan, Georgia and Ohio.
Kalifornia and Nevada hit record unemployment levels!
NEW YORK - September 18, 2009 - Unemployment rose in 27 U.S. states in August, with Kalifornia and Nevada reaching record levels of joblessness.
Incomes of young people in nosedive!
NEW YORK - September 18, 2009 - The incomes of the young and middle-aged people - especially men - have fallen off a cliff since 2000, leaving many age groups poorer than they were even in the 1970s, a USA TODAY analysis of new Census data found.
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- Big companies that are veering toward bankruptcy!
- Officials warn option mortgages about to explode!
- 86 percent of Amerikans believe Depression continues!
- Blockbuster more than doubles planned store closures!
- Projections suggest 200-300 more bank failures this year!
- AMBROSE EVANS-PRITCHARD: U.S. credit shrinks at Great Depression rate!
- U.S. foreclosure filings continue at record pace!
- Number of poor in U.S. climbs to 39.8 million!
- July trade deficit rises to $32 billion!
- Another wave of foreclosures looms!
- Gold jumps to 18-month high on weaker dollar!
- Post Office threat adds to U.S. property woes!
- Swiss topple U.S. as most competitive economy!
- China signals move away from U.S. dollar!
- UN conference calls for new global currency!
- U.S. banks lose collective 3.7 billion dollars in quarter!
- FDIC might sink into red by end of year!
- Ambrose Evans-Pritchard: Can the soufflé really rise again?
- Real U.S. unemployment rate at 16 percent!
- Senator warns of hyperinflation!
- State government to shut down for 12 days!
- Analyst predicts 150-200 more bank failures!
- Noted economist warns of double-dip Depression!
- Seized Texas bank sold to Spanish firm!
- Arizona's credit rating downgraded to negative!
- Frailty lingers in housing and producer price reports!
- Reader's Digest set to file for bankruptcy!
- Unemployment spike compounds foreclosure crisis!
- Tax bills put pressure on struggling homeowners!
- Resort offers $19 "survivor" package!
- Chinese stocks plunge almost 6 percent!
- Consumers don't share market optimism!
- An avalanche of insider stock selling!
- Consumer bankruptcies may hit 1.4 million by end of year!
- Foreclosures rise substantially over previous month!
- Retail sales dip more than expected while jobless claims rise!
- InterContinental says recovery is years away!
- Soaring deficit very bad news for the economy!
- Bad assets still threaten banks!
- Anti-Obama trinket sales hit new high!
- Federal deficit grew by $181 billion in July!
- Number of food stamp recipients tops 34 million for first time ever!
- Sluggish July sales show tight-fisted consumers!
- Jobless claims continue at record rate!
- Half of all mortgages will be "underwater" within two years!
- General Motors to lay off thousands more!
- GMAC posts wider quarterly loss as loan defaults rise!
- Alabama County makes massive job cuts!
- USPS may close up to 1,000 post offices!
- Extending unemployment benefits creates joblessness!