Tuesday, October 28, 2008

More economic issues

COST OF THE CRASH: $2,800,000,000,000

OPEC cannot bail world out over financial crisis, says chief...

Unexpected rise in new home sales; Low prices foster flurry of activity...

Russian Central Bank to prevent wild swings in ruble - Shuvalov: "The government and Central Bank consider that sharp changes in the rate of the national currency would be damaging, and this will not be allowed to happen under any circumstances," he said.

Europe on the brink of currency crisis meltdown: The financial crisis spreading like wildfire across the former Soviet bloc threatens to set off a second and more dangerous banking crisis in Western Europe, tipping the whole Continent into a fully-fledged economic slump.

Britain may need 0% interest rate to avoid a depression, leading economist warns: The extraordinary claim from Charles Goodhart, a founding member of the Bank of England's Monetary Policy Committee, came as Gordon Brown signalled that he wants to see further, aggressive cuts in the cost of borrowing.

The Predator State by James Galbraith on Bill Moyer's Journal: Video and transcript: This is the big one. I have been working on financial crises since the New York City rescue in 1975. And this is, by far and away, the biggest threat to the system as a whole that we've seen in my lifetime and I think the biggest threat since the late 1920s.

US public pension funds face big losses: California’s Calpers, the US’s biggest pension fund, last week reported a loss of 20 per cent of its assets, or more than $40bn, between July 1 and October 20 this year.

Banks pull squeeze play on credit cards: Companies cracking down, even on those with good credit, leaving customers to face interest rate leaps, lower credit limits and even canceled cards.

Farm-Credit Squeeze May Cut Crops, Spur Food Crisis: The credit crunch is compounding a profit squeeze for farmers that may curb global harvests and worsen a food crisis for developing countries.

George Monbiot: This Is What Denial Does: . The financial crisis for which we must now pay so heavily prefigures the real collapse, when humanity bumps against its ecological limits.

Oz Dollar Drops 40% For No Reason

Deflation Accelerating

Dow Drops Another 203 Points

Crude Oil Falls To $61 Barrel

Europe On Brink Of Currency Meltdown

London Markets Plunges Again

Asian Stockmarkets Crash Again

Ukraine OKs $16.5B Rescue By IMF

Hong Kong Shares Dive 13%

World Markets Shares Down $16T Since Sept 1

Customer Panic And Bank Run In Kuwait

GM Wants Taxpayer $ To Merge w/ Chrysler

Asia Monday Off To Grim Start

JPMorgan Under Criminal Investigation

Asian Stocks, US Futures Slump

US Stocks Start Day With Further Decline

More US Banks Sell Stakes For Govt Cash

Sept New Home Sales Up - Prices Fall

Credit Squeeze May Cut Crops - Spur Food Crisis

Nikkei Dives 6% To 26 Year Low To Start Week

G7 Not Happy Over Yen's Rise Vs Dollar, Euro

US Dollar Currency Collapse Within 30 Days

Argentina And The US Dollar's Fate

WS Workers Bailing Out Of NYC For Fresh Starts

US Biggest Chicken Producer Facing Big Trouble

US Biggest Chicken Producer Facing Big Trouble

Gold Stocks Were Financial Saviors In 1930s

1929 & 2007 Bear Market Race To The Bottom

The World After The 2008 Presidential Election

How The PPT Killed Capitalism

Roubini - The Worst Is Yet To Come

Don't Expect China To Save West

America Joins UK On Brink Of Recession

Banks Exploit Legal Loopholes To Seize Homes

Whole System Going Down For The Count

What Bernanke And Hank Aren't telling You

Taiwan Dumps Fannie, Freddie

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