Monday, May 04, 2009

More economic issues

SHOCK CLAIM: WHITE HOUSE BULLY THREAT OVER AUTO BANKRUPTCY...

Obama spokesman denies...

Dawn of European Car Supergroup...

CITI Said to Need Up to $10 Billion; Bank Disputes 'Stress Test' Result...

BofA in last push...

'None of these banks are insolvent'...

Obama: Wall Street will play less dominant role...

...financial sector to shrink

China 'cutting down purchases of US Treasury bonds'...

Worries Rise on the Size of Debt...

Paying the Price for Cheap Meat

By Johann Hari

Modern factory farms have created a 'perfect storm' environment for powerful viruses. Continue


The Corporation

Video

This is an extraordinary film about the creation of the American corporation, its legal organizational model, its global economic dominance and its psychopathic tendencies, and its incredible ambition to influence every aspect of culture in its unrelenting pursuit of profit. Continue

In Defense Spending Battle, Lawmakers Seek Funds for Top Donors: Some lawmakers have already been lobbying their colleagues to support requests that will benefit defense contractors in their home states--companies that also help fill the campaign coffers of many members of Congress.

UK wages collapse at fastest rate in 60 years: Weekly wages fell at the fastest rate in 60 years in February as City bonuses were slashed and workers agreed to reduced hours in the wake of recession, the latest official figures show.

China has 'canceled US credit card': lawmaker: China, wary of the troubled US economy, has already "canceled America's credit card" by cutting down purchases of debt, a US congressman said Thursday.

US Senate defeats mortgage relief measure: The US Senate on Thursday defeated a measure that could have helped millions of Americans avoid foreclosure by letting bankruptcy judges cut their mortgage payments.

Chrysler court rescue bid begins: Chrysler closed its US factories on Friday - having earlier said it would wait until Monday - as proceedings to start its restructuring plans began.

US still deep in recession: American gross domestic product (GDP) - which tracks goods and services output within the country - dropped 6.1% over the first three months of the year, compared with 6.3% in the last three months of 2008. It is the largest first-quarter decline since the late 1950s.

Over 100 Investment Firms and Agents Subpoenaed in Widening Pension Fund Probe: A national network of investment firms and their middlemen are conspiring in fraudulent practices and kickback schemes to receive lucrative business opportunities with state and local pension funds, according to New York Attorney General Andrew Cuomo.

U.S. Commerce Department: U.S. economy worst in 50 years: It's official. The United States is mired in its worst economic downturn in half a century, the U.S. Commerce Department reported Wednesday. Data released by the department show that the U.S. economy shrank by 6.1 percent during the first three months of the year – a full percentage point worse than what analysts polled by Thomson Reuters had been predicting.

Chrysler to File for Bankruptcy: U.S. officials had offered Chrysler's secured lenders $2.25 billion in cash if they would agree to writedown the $6.9 billion in secured debt that the company owed. But a small group of hedge funds refused the 11th-hour deal, forcing an imminent bankruptcy.

U.S. March Consumer Spending Fell More Than Forecast: Purchases decreased 0.2 percent after a 0.4 percent gain in February that was larger than previously estimated, the Commerce Department said today in Washington. Incomes fell for the fifth time in the last six months.

Advertising Giant WPP To Chop 7,200 Jobs

Buffett - We've Been Hit By Financial Hurricane

ECB To Slash Rates To Record Low

Bank Objections To Delay Stress Tests

Study Shows Network Between Govt & banks

China Cuts Back On Buying US Debt

'Average' American On The State Of The Economy

Gold Isn't Going To $2,000

Company Failures Are Tip Of The Ice Berg

Flu Pandemic Could Wipe 7% Off UK Economy

Chrysler In Doomsday Jobs Loss Warning


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