Wednesday, January 21, 2009

More economic troubles.


COLD WELCOME FOR PRESIDENT

Worst Inauguration Day Drop in Dow Industrial History...


UK faces 'possibility of national bankruptcy'...
Oil Declines Below $33...

What Obama Left Out of the Economic Recovery Plan

Higher Wages and Debt Relief

By Mike Whitney

Barak Obama and Co. are planning to launch their own version of economic "shock and awe" in the opening weeks of the new administration. Aside from the $825 billion stimulus package, which will be used to create 3 million new jobs and make up for flagging consumer demand; Obama is planning a financial rescue operation for banks that are buried under hundreds of billions of dollars of troubled assets. Continue


Back to What Obama Must Do

By: Paul Krugman

This month we celebrate your arrival in the White House; at a time of great national crisis, you bring the hope of a better future. It's now up to you to deliver on that hope. By enacting a recovery plan even bolder and more comprehensive than the New Deal, you can not only turn the economy around - you can put America on a path toward greater equality for generations to come. Continue

Warning that UK is on brink of depression: Sir George Mathewson, a former chairman of the Royal Bank of Scotland and chairman of the Scottish Government's economic advisory council, said that economic conditions would worsen.

Unless we are decisive Britain faces bankruptcy: Our financial institutions are fighting for their lives and the Treasury may not be able to bail them out. The government needs to get serious to avert meltdown

The Stimulus Scam: Video - Peter Schiff says consumers need to spend less, not more.

California controller to suspend tax refunds, welfare checks, student grants: John Chiang announces that his office will suspend $3.7 billion in payments owed to Californians starting Feb. 1, because with no budget in place the state lacks sufficient cash to pay its bills.

Banks Sink Deeper On Obama's First Day

Bank Worries Push Dow Below 8000

Europe's Winter Of Discontent

RBS Shares Dive 67% Nationalization Looms

Lloyds Slumps 47% As Investors Flee

Public Anger At 'Irresponsible' Banks

UK Experts - 2nd Bank Bailout May Fail

Sterling Dives On Debt Fears

2nd UK Bank Bailout 'Plainly Not Enough'

Chrysler In Big Swap With Fiat

Lindsey Williams Details 'Economic Calamity'

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