Wednesday, April 29, 2009

More economic issues

Phoenix first major cty where home prices have fallen by half... Developing...

STRESS: CITI scrambles to raise capital...

As Long As We're Talking About Socialism

By Mark Harris

Ask yourself how democratic it is for the richest 1 percent of Americans to own 43 percent of all stock? Or for this same 1 percent to account for 33 percent of total household wealth, according to the Federal Reserve Bulletin? Is it far-fetched to suggest that class inequality and economic insecurity are permanent hallmarks of life under capitalism? Continue

Japan facing worst economic outlook on record: Japan's economy is expected to shrink 3.3 per cent over the coming year, marking its biggest decline in more than five decades, according to government predictions.

Two-thirds facing a pay cut or freeze: More than two-thirds of British companies plan to cut or freeze their workers' salaries this year, the British Chambers of Commerce said yesterday, as it warned that private sector employers face a desperate battle to survive the recession.

Meltdown losses of '$4 trillion': The International Monetary Fund (IMF) has warned credit crunch losses could reach $4 trillion (£2.75tn), damaging the financial system for years to come.

'Deeper' recession ahead says IMF: The IMF says this represents "by far the deepest post-World War II recession" with an actual decline in output in countries making up 75% of the world economy.

Row with emerging nations threatens IMF's cash call: Russians warn that the IMF must deliver on its power-sharing commitments

GM to slash 21,000 more jobs: General Motors, the US car giant, is to cut 21,000 factory jobs next year, close plants and drop its Pontiac brand as it struggles to remain afloat.

Citi And BoA Must Raise Billions In Extra Capital

Unions Could Own 55% Of Chrysler

US Govt May Take Control Of GM

BP Profits Slump 62%

BofA - Who Pays For Its Collapse?

Gold Hits 4 Week High

Some Sacramento Homes Less Than $25,000

20% Of Asia Hedge Funds Closed Since 1-08

Russian Warns IMF That It Must Deliver

IMF Chief - Darling's Figures Over Optimistic

IMF - National Deficits To Stay Sky High

IMF As Bad As Ever

Japan Faces Worst Economic Outlook Ever

Japan's Economy To Shrink 3.3%

Stockmarkets Slide On Swine Flu Fears

Dying GM To Cut 21,000 Jobs - Pontiac Is History

Hollywood Film Production At Standstill

UK Mtge Approvals Fall 25%

Seven UK Retailers Perish Each Day

Two-Thirds Facing Pay Cut Or Freeze

Abandoned Pets Pay Price Of Recession

Geithner - Group Of 30 Servant, Change Agent

The Big Money Behind Geithner

The Yuan Goes Global

Swiss Ask Not To Be Forced To Reveal Customers

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