Friday, October 24, 2008

More economic issues


HALT: NASDAQ, S&P 500, DOW FUTURES DOWN BY DAILY LIMIT; DROPPING MORE THAN 6%...
EUROPE INDICES...


THE FEAR


V O L A T I L I T Y

'I made a mistake,' admits Greenspan...

'Found a Flaw'...

Banks borrow record amount from Fed...

Wall Street's 'Disaster Capitalism for Dummies'

14 reasons Main Street loses big while Wall Street sabotages democracy

By Paul B. Farrell

Yes, we're dummies. You. Me. All 300 million of us. Clueless. We should be ashamed. We're obsessed about the slogans and rituals of "democracy," distracted by the campaign, polls, debates, rhetoric, half-truths and outright lies. McCain? Obama? Sorry to pop your bubble folks, but it no longer matters who's president. Continue


Maybe U.S. Needs Yard Sale

By Eric Margolis

Russia could buy back Alaska or perhaps Canada could pick up sunny Florida. Continue


Arms For The Poor

By Jeff Huber

Those poor kids at the Pentagon. They receive more funding than the rest of the world's military establishments combined, but it's just not enough. Pentagon officials have prepared a new defense spending estimate—one they plan to spring on us just before young Mr. Bush exits stage right—that projects a requirement for $450 billion more over the next five years than previously announced. Continue

Wachovia reports $23.9 billion loss: Wachovia Corp reported a third-quarter loss of $23.9 billion on Wednesday, a record quarterly deficit for a banking company in the global credit crisis, underscoring the challenges Wells Fargo & Co faces when it acquires the big lender.

Yahoo firing 1,500 workers; 3Q profit falls 64 pct (AP): Yahoo Inc. will fire at least 1,500 workers to cope with a crumbling economy that dented its third-quarter profit and turned up the heat on the slumping Internet company's management as investors stew over a missed opportunity to sell to Microsoft Corp. for $47.5 billion.

Monthly job losses up across 41 states: More than 80% of states reported jobs disappearing in September, with Michigan suffering the highest losses, according to a government report.

"Under water" mortgages are growing threat to U.S.: - Long before she filed for bankruptcy, Ann Neukomm was "under water" -- she owed more on her mortgage than her house was worth -- a situation more and more Americans are finding themselves in.

Fewer prescriptions filled as economy worsens: The tumbling economy may be making Americans queasy, but they're apparently so worried about their pocketbooks that they're skipping their meds.

California Foreclosures Soar By 228%

Asian Stocks Crash - Bush Calls Summit

Regulators Admit They Made Fateful Mistakes

Greenspan - 'Shocked Over Credit Tsunami' - Vid

Greenspan In 'Shocked Disbelief' - Admits Errors

Asian Markets Drop

Dollar Roars Back As Global Debts Called

UK In Massive Sterling Sell-Off

Global Bank Lending Sinks To 30 Yr Low

US Spends Trillions On Corrupt Banking System

Demand For Gold Soars As Price Tumbles

World Markets On Edge

Credit Suisse Reports £670M Loss

Nikkei Hits 5 And 1/2 Low

Oil Sinks To 16 Month Low

Stocks Battered...Down 514 - Oil Slumps

Pakistan Applies For IMF Bailout

Truth Seeps Into Mainstream Media

Fed To Pump $540B More Liquidity

Fed Tries To Prevent 'Great Depression II'

Debt Slavery Is Real Reason Behind The 'Bailout'

When Inflation Erupts, Gold Will Take Off

Pound Tumbles As BoE Admits Recession

More Euro Banks May Fail Says IMF

Dow Drops 231 On The Day

Central Banks Scramble To Buy Dollars

No China Cash Bailout For Pak - Next Stop IMF

Kerkorian Dumps 2/3 Of Ford Stock

Putin - Russia Well Prepared To Survive Crisis

Dreamer Bush Says Economic 'Panic' Easing

The Spreading Worldwide Storm

Markets Soar As LIBOR Starts To Fall

Bernanke Wants Second 'Stimulus' Package






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