Life the Universe and ....: More economic issues

Mortgage giant rescue could cost $25 BILLION... CALIF. FORECLOSURES UP 261%...

DISASTER: WACHOVIA has $8.9B loss, cuts 6,350 jobs...

U.S. Expansion May Be First Without Income Recovery: Median U.S. family income, adjusted for inflation, was $58,407 in 2006, according to the most recent Census Bureau data, down from $59,398 in 2000.

Wachovia scorched with 8.7-billion-dollar loss: Banking giant Wachovia took a severe hit from the US housing slump with a second-quarter loss of 8.662 billion dollars as it announced plans Tuesday to end its wholesale mortgage operations. The loss amounted to 4.20 dollars per share, far above the average Wall Street forecast of a loss of 78 cents per share.

American Express Profit Falls on Higher Defaults: American Express Co., the biggest U.S. credit-card company by purchases, withdrew its 2008 earnings forecast after second-quarter profit fell 37 percent on worse-than-expected consumer defaults. The shares slumped 11 percent in extended trading.

United States Unfolding Financial and Economic Nightmare: Nearly every major bank, brokerage and lender you can name is up to its eyeballs in leveraged investments whose value is going up in smoke. They're borrowing hundreds of billions from the Fed. They're raising billions more from investors, diluting their shares. They're selling massive amounts of assets — scrambling any way they can to raise cash to survive.

Wachovia Loses $8.9B, Cuts 6,350 Workers, Dividends

Fannie, Freddie Rescue May Cost Taxpayers $25B

BoE Warns UK House Prices Could Dive 30%

US Mortgage Lenders Imploding

Gold Forecasts Revised Upwards to $1200

US Unfolding Financial and Economic Nightmare

The Rush For Gold - Sales Of Bars Double

80% Fear UK Heading For Recession

American Express Profit Falls On Higher Defaults

World Economy At Point Of Maximum Danger

Hundreds Of Thousands Face Job Loss In UK

UK House Sellers Forced To Drop Prices