Stock, Bond Slumps Signal Worse Than '94 as Inflation Says '74...
House of Cards
You thought the housing crisis was bad? You ain’t seen nothing yet.
By Danny Schechter
While many eyes are focusing on the housing meltdown and its hugely negative effect on an economy clearly moving into recession, few are paying attention to the next bubble expected to
The Sub-prime Trump Card
Standing Up To The Banks
By Ellen Brown: More than 1.5 million homeowners are expected to enter foreclosure this year, and about half of them are expected to have their homes repossessed. If the dire consequences Jefferson warned of 200 years ago have been slow in coming, it is because they have been concealed by what Jerome a Paris calls the Anglo Disease – “the highly unequal economy whereby the rich and the financial sector . . . capture most of the income but hide it by providing cheap debt to the middle classes so that they can continue to spend.” Continue
Oil tops $142 a barrel : Oil prices reached a record high of $142 a barrel on Friday as world stocks fell to a three-month low.
OPEC chief sees oil at $150-170 in coming months Crude oil prices could rise to as high as $170 per barrel in the coming months but are unlikely to hit $200 and should ease towards the end of the year, OPEC President Chakib Khelil said in an interview on Thursday.
Consumer Sentiment Index Falls in June: Confidence among U.S. consumers fell in June to the lowest level in 28 years as record-high gasoline and rising joblessness rattled Americans.
This Recession, It's Just Beginning: . Corporate bankruptcies, bond defaults, bank failures, hedge fund meltdowns and 6 percent unemployment. We're caught in one of those vicious, downward spirals that, once it gets going, is very hard to pull out of.
City Pension Funds Lose Billions: New York City officials are bracing for increased pressure on the budget as the city's pension funds are reeling from the credit crisis and posting billions of dollars in losses.
Credit crunch forcing US middle classes to live in their cars: As mortgage foreclosures continue to rise, growing numbers of middle-class professionals are losing their homes and downsizing from four bedrooms to four wheels.
World Financial Crisis
burst: credit cards. Continue