Ecomomic Crisis
Daily News and Updates

Wednesday - December 31, 2008:

  1. Apple shares turn negative on Jobs rumor
  2. Arizona's New Minimum Wage Rate Will Cause Continued Job Loss Among Vulnerable Groups
  3. Bloomberg PMI Shows Record Annual Fall in Euro Retail Sales
  4. Consumer confidence and home prices hit grim records
  5. December consumer confidence drops to all-time low
  6. Economic Stress Taking Toll on Peoples' Health
  7. Holiday weakest since 1970, more retail cuts seen
  8. Home Price Declines Worsen As We Enter the Fourth Quarter of 2008 According to the S&P-Case-Shiller Home Price Indices
  9. Home prices plunge record 18 percent in October S&P
  10. Idaho computer maker shuts down due to bad economy
  11. Thai PM sets out policy, warns on economy
  12. U.S. puts up $6 billion to support GMAC
  13. Vermont's New Minimum Wage Rate Will Cause Continued Job Loss Amongst Vulnerable Groups
  14. World faces slowdown in 2009

Tuesday - December 30, 2008:

  1. Crisis impact spreads
  2. Dow and Rohm shares fall on concern over deal
  3. Holiday Sales Drop to Force Bankruptcies, Closings
  4. Humbled By Our Ignorance
  5. Lehman bankruptcy filing wiped out billions report
  6. Russia sets aside $340 bln for anti-crisis package

Monday - December 29, 2008:

  1. Another Analyst predicting A MAJOR DEPRESSION
  2. Recession is predicted to cost Britain 1m jobs
  3. UK's Brown defiant on economy, sees new U.S. alliance
  4. Zambia inflation forecast to be revised upwards

Sunday - December 28, 2008:

  1. Bargains in closing Woolworths shops
  2. Russia's 2009 budget deficit may be $70 bln - finance minister
  3. States consider selling off roads, parks
  4. Suffering Ohio begs for federal lifeline

Saturday - December 27, 2008:

  1. Analyst: One Third Of Banks Could Collapse In 2009
  2. Depression Hits Detroit: Average home price $18,513 - Unemployment rate 21%
  3. Iran urges ECO to drop dollar
  4. Will the U.S. Break Up
  5. Central banks revolution gathers pace
  6. Factory output in Japan sees biggest monthly fall
  7. GMAC gets Fed's OK to become bank holding company
  8. Retailers Want In on Stimulus Plan
  9. Russia braced for unrest
  10. U.S. Home Resales Fall; Prices Drop by Record 13.2%
  11. UN Adds Nearly $700 Million to Budget

Friday - December 26, 2008:

  1. 5 reasons the economy might recover faster than you think
  2. As Property Values Plunge, Tax Bills Might Not Follow
  3. Japan industrial output logs record fall
  4. Retailers' holiday sales plummet Spending Pulse
  5. States Driven to Make Deeper Cuts in Medicaid

Thursday - December 25, 2008:

  1. A recession the Fed can't easily fix
  2. BCSB Bancorp, Inc. Completes Sale of $10.8 Million in Preferred Stock Under the Treasury's Capital Purchase Program
  3. Biden says deal near on stimulus plan
  4. Congress to crack down on bailout recipients
  5. Few Industries Immune From Widespread Layoffs
  6. Jobless Claims Jump More Than Expected
  7. No Relief from the Christmas Gloom for Retailers
  8. Peoples Bancorp of North Carolina, Inc. Announces It Has Received $25.1 Million as an Approved Participant in the U.S. Treasury Department TARP Capital Purchase Program
  9. Plunge in Exports Reverberates Across Asia
  10. Russia faces budget deficit in 2009 - Kremlin aide
  11. SEC chief defends response to economic turmoil
  12. The Global Outlook A Recession But Not a Depression
  13. U.S. recession deepens, countries boost spending
  14. Wachovia shareholders approve sale
  15. Sol Sanders: Meltdown gives rise to worrisome Asian contagions

Wednesday - December 24, 2008:

  1. Bush signs pension bill
  2. Everything reduced sales in full flow after the high street's worst Christmas for years
  3. Housing slide worsens; Spain joins recession club
  4. Israeli lawmakers waive pay raise
  5. Dow off 100 on sagging home sales
  6. No Christmas cheer as recession gathers steam
  7. UN convenes summit to tackle global financial crisis
  8. What will new year bring to Europe
  9. World faces total financial meltdown Bank of Spain chief

Tuesday - December 23, 2008:

  1. Analyst: Game over for GM stockholders; shares fall 21%
  2. Banks keep bailout spending secret
  3. China Cuts Key Rates for Fifth Time in Three Months
  4. Dow falls 59 as investors seek safety
  5. GM Closes Ohio Plant, Cuts 1,080 Workers
  6. Japanese exports tumble, trade deficit grows
  7. Manufacturers cut jobs, pay amid downturn
  8. Mortgage re-defaults up; no sign of slowing
  9. Nearly 30 Percent of San Diego Mortgages Underwater
  10. OPEC worried member states won't honor cuts

Monday - December 22, 2008:

  1. China offers $19bln to Taiwan firms report
  2. Kissinger Calls For New International System Out Of World Crises
  3. Rogers The Elite Are Turning A Recession Into A Depression
  4. Christmas shut-down in Silicon Valley
  5. Gaza near to collapse as Israel tightens grip, says bank
  6. 50% chance of depression in US
  7. In Need of Cash, More Companies Cut 401(k) Match
  8. Irish govt poised for $7 bln bank bailout
  9. Money market funds reel as yields near zero
  10. Detroit mayor Deficit nears $300M, cuts ordered
  11. Medicaid applicants grow as recession widens
  12. Recession in U.S. is bringing job cuts, unrest to China
  13. Schwarzenegger Orders Unpaid Leave for State Workers
  14. Squeezed on All Sides, Parents Forgo Day Care
  15. Warning of 2009 wave of retail bankruptcies

Sunday - December 21, 2008:

  1. China promises economic assistance to Taiwan
  2. Bank sees unrest in Iran due to 'worst global economic contraction' since great depression'

Saturday - December 20, 2008:

  1. U.S. debt approaches insolvency; Chinese currency reserves at risk
  2. China jobless more grave than official figure
  3. From bridges to police U.S. draws up stimulus plan
  4. General Motors and Chrysler to get three-month reprieve as president raids $700bn intended for banks
  5. New Zimbabwe $10B note buys bread
  6. Oil producers seek oil price stability
  7. Police prepare for civil unrest as IMF warns of economic riots
  8. Record low mortgage rates toss housing a lifeline
  9. Bank sees unrest in Iran due to 'worst global economic contraction' since great depression'
  10. OPEC cuts production for third time in 3 months

Friday - December 19, 2008:

  1. Dow off 219 as GE slides, oil drops to $36
  2. Feds ban 'unfair' credit card rules
  3. Grim choice Walking away from a mortgage
  4. OPEC's record oil production cut
  5. Police prepare for civil unrest as IMF warns of economic riots
  6. Ron Paul: Fear Based Bailouts Constitute Economic Terrorism
  7. Russia provides 10 MiG fighter jets to Lebanon for free
  8. U.S. Leading Indicators Index Fell 0.4% in November

Thursday - December 18, 2008:

  1. Credit card rates, fees marching up
  2. Fall in demand forces Chrysler to close plants for a month
  3. GM Is Likely to File for Bankruptcy, Report Says
  4. Monetary policy committee minutes send pound to record low against euro
  5. OPEC makes deepest oil cut ever to rescue prices
  6. Sharp increase in jobless figures as time runs out for Woolworths
  7. Motorola freezes pension plans
  8. Oil states face an unfamiliar prospect deficits

Wednesday - December 17, 2008:

  1. 582,000 Canadian jobs at stake if Big Three fail study
  2. After rate cuts The Fed's new ball game
  3. Depression possible Canadian PM
  4. Economy Downturn Spurs 'Survival Panic' for Some in the US
  5. Fed cuts target for key rate to a record low
  6. Gov. David Paterson unveils dire New York State budget that includes new taxes, layoffs and cuts
  7. The Fed’s new zero-tolerance policy
  8. Warning of 3m jobless in UK as US slashes interest rates

Tuesday - December 16, 2008:

  1. Banksters Refuse to Honor Bloomberg FOIA Request
  2. As Rates Race to Zero, Printing Presses Gear Up
  3. Banks hit worldwide by US 'fraud'
  4. Chancellor admits Britain is facing more severe downturn
  5. Dollar Staggers as U.S. Unleashes Cash Flood, Deficit
  6. Rate cut expected as Fed mulls emergency tools
  7. State budget woes expected to worsen
  8. States’ Funds for Jobless Are Drying Up

Monday - December 15, 2008:

  1. Adva report Israeli middle class still shrinking
  2. Economic crisis unites Asian giants
  3. Bad Times Draw Bigger Crowds to Churches
  4. Cabinet votes to implement safety net
  5. Fed to press rates toward zero
  6. Iran to urge OPEC to cut oil output by 2 mln bpd
  7. OPEC set to slash oil output as prices crumble

Sunday - December 14, 2008:

  1. Asian leaders agree on more cooperation
  2. Banks and consumers brace for new credit card rules
  3. Japan considers $139 billion in stimulus
  4. Iran crisis Aging oil infrastructure could cripple its economy
  5. Oil price free fall seen continuing in '09 due to Gulf state debts

Saturday - December 13, 2008:

  1. After Auto Bailout Blowup, Bush Must Take the Wheel
  2. Obama will nuke Iran if Israel nuked, official says
  3. Bank of America to cut up to 35,000 jobs Financial News
  4. Financial forecast 11 bets for '09
  5. Jim Rogers calls most big U.S. banks 'bankrupt'
  6. 'Pay option' loans could swell defaults
  7. Ecuador defaults, says to fight monster creditors
  8. Retail sales fall for fifth straight month
  9. Small Georgia bank becomes 24th US failure in 2008
  10. Sanderson State Bank of Sanderson, Texas fails 25th of year
  11. Stocks Say Recession, but Bonds Say Depression
  12. Trouble in Toyland U.S. recession jolts China - Economy in Turmoil

Friday - December 12, 2008:

  1. Global rout on auto bailout crash
  2. Bankrate Mortgage Rates Down Six Straight Weeks
  3. EU grinds toward stimulus
  4. Recession seen worsening, deflation a risk
  5. Report Bailed-out firms bankrolled conventions
  6. Retail sales post big drop in November
  7. Sony to close last U.S. TV factory
  8. Treasury Criticized on Hill Over TARP
  9. U.S. recession to worsen, deflation a risk: report

Thursday - December 11, 2008:

  1. Regional Fed Chiefs Elite Insiders Have “Usurped Authority”
  2. What Are The People Who Predicted the Financial Crisis Predicting Now
  3. EA cuts outlook on weak holiday sales
  4. Economy threatens disaster preparedness
  5. Global demand for oil to plummet
  6. NYT eyes asset sales
  7. Rio Tinto to cut 14,000 jobs
  8. U_S_ auto deal hits snag as freeze grips China, Europe
  9. Unable to Escape Global Crisis, South American Nations Take Financial Action

Wednesday - December 10, 2008:

  1. Barroso calls for joint US-European stimulus package to fight recession
  2. Electronics industry axes jobs, sees bleak Christmas
  3. Harvard freezes salaries as recession bites
  4. Is Bank of America the next 'victim'
  5. Lobbyists flood Capitol Hill for help
  6. Dow off 243 on economic fears
  7. Regulator warns Israel cannot afford a bank collapse
  8. Sony shares slide after restructuring plans
  9. Sony slashing 8,000 jobs

Tuesday - December 9, 2008:

  1. Dow Chemical to cut 5,000 jobs
  2. Tribune files for bankruptcy protection
  3. Why lenders might forgive your debt

Monday - December 8, 2008:

  1. Bush, Democrats seek to finalize auto bailout
  2. Car dealers hit hard by Detroit's uncertainty
  3. Laid-off workers occupy Chicago factory
  4. Citadel Cuts Asian Principal Investments, Exits Tokyo
  5. Euro Dreams Fade for Zloty, Forint, Koruna on Slump

Sunday - December 7, 2008:

  1. 3M to cut 1,800 more jobs, postpone merit pay
  2. Family warns against tapping endowment
  3. Chinese property hunters to raid US
  4. Latest Economic Indicators Continue Dire News
  5. North Dakota enjoys good economic times

Saturday - December 6, 2008:

  1. First Georgia Community Bank closed -- 23rd failure in '08
  2. GM to lay off about 2,000 more workers report
  3. Job losses worst since 1974
  4. Latest Economic Indicators Continue Dire News
  5. Media Release - West Hartford Credit Union Closes
  6. Patients turned away from Zimbabwe's empty hospitals
  7. White House, Democrats reach deal on $15 billion auto aid
  8. Crisis summit for Gulf states to weigh oil prices, Iran threat

Friday - December 5, 2008:

  1. Already Struggling Consumers Hit Hard This Holiday Season by Lack of Discounts on Price-Fixed Gifts and Other Products
  2. AT&T cutting 12,000 jobs, books $600 mln severance costs
  3. Barna advises churches to revisit budgets
  4. Capital One to Buy Chevy Chase
  5. Credit card cutbacks hit consumers hard
  6. Economic crisis, treatment of Israel - a connection?
  7. Europeans cut interest rates sharply to fight crisis
  8. GM, Chrysler considering bankruptcy to get bailout report
  9. GM, Chrysler May Accept Bankruptcy to Receive Bailout
  10. Gulf Oil CEO says gas could hit $1 next year
  11. Iran Confronts an 'Economic Evolution' Ahmadinejad's Plan to Curb Government Subsidies Threatens to Alienate Recipients
  12. Is This Detroit's Last Winter?
  13. Layoffs mount as crisis drags on
  14. Steep Job Cutbacks Add To Bleak Economic Picture
  15. Treasury may be considering mortgage help
  16. Treasury Weighs Action on Mortgage Rates
  17. US, China headed for possible currency clash
  18. Zimbabweans Turn to U_S_ Dollar as Hyperinflation Erodes Value of Local Currency

Thursday - December 4, 2008:

  1. Airlines Hurting; Delta Hints At Layoffs
  2. Are we watching the death of OPEC
  3. How low prices can hurt you
  4. Japan faces deep recession, central banks slash rates
  5. U.S. Steel to lay off 3,500 employees
  6. Record number of Americans using food stamps

Wednesday - December 3, 2008:

  1. From The “Panic” Of 2008 To The “Collapse” Of 2009
  2. Australia cuts interest rates to seven year low
  3. Bailout Monitor Sees Lack of a Coherent Plan
  4. Economic Signs Point to Longer, Deeper Recession
  5. Financial crisis could trigger social unrest, warns UN chief
  6. Metal prices fall further than during Great Depression
  7. Auto sales hit new lows; GM sales plunge 41 pct
  8. Texas-based Pilgrim’s Pride declares bankruptcy
  9. U.S. automakers seek aid, Europe looks to bolster banks

Tuesday - December 2, 2008:

  1. 13,500 jobs draw 775,000 aspirants
  2. Activist moves homeless into foreclosures
  3. Where Did the Fed’s Bailout Money Really Go Chart Shows Illegal Money Trail
  4. Credit card rates, fees marching up
  5. Credit-card industry may cut $2 trillion lines analyst
  6. Data signal deep global downturn
  7. Dow slumps 680 on economic worries
  8. Hu Sees China Losing Its Competitive Edge
  9. Icelanders rally to protest economic meltdown
  10. U.S. in recession, Europe backs spending hikes
  11. US bank stocks in biggest drop since crisis began
  12. US manufacturing hits 26-year low ISM

Monday - December 1, 2008:

  1. Charities lose faith and hope as funding crisis leaves them with £2_3bn black hole
  2. Economic rescue could cost $8.5 trillion
  3. Worst job losses in almost three decades expected

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