Ecomomic Crisis
Daily News and Updates
Wednesday - December 31, 2008:
- Apple shares turn negative on Jobs rumor
- Arizona's New Minimum Wage Rate Will Cause Continued Job Loss Among Vulnerable Groups
- Bloomberg PMI Shows Record Annual Fall in Euro Retail Sales
- Consumer confidence and home prices hit grim records
- December consumer confidence drops to all-time low
- Economic Stress Taking Toll on Peoples' Health
- Holiday weakest since 1970, more retail cuts seen
- Home Price Declines Worsen As We Enter the Fourth Quarter of 2008 According to the S&P-Case-Shiller Home Price Indices
- Home prices plunge record 18 percent in October S&P
- Idaho computer maker shuts down due to bad economy
- Thai PM sets out policy, warns on economy
- U.S. puts up $6 billion to support GMAC
- Vermont's New Minimum Wage Rate Will Cause Continued Job Loss Amongst Vulnerable Groups
- World faces slowdown in 2009
Tuesday - December 30, 2008:
- Crisis impact spreads
- Dow and Rohm shares fall on concern over deal
- Holiday Sales Drop to Force Bankruptcies, Closings
- Humbled By Our Ignorance
- Lehman bankruptcy filing wiped out billions report
- Russia sets aside $340 bln for anti-crisis package
Monday - December 29, 2008:
- Another Analyst predicting A MAJOR DEPRESSION
- Recession is predicted to cost Britain 1m jobs
- UK's Brown defiant on economy, sees new U.S. alliance
- Zambia inflation forecast to be revised upwards
Sunday - December 28, 2008:
- Bargains in closing Woolworths shops
- Russia's 2009 budget deficit may be $70 bln - finance minister
- States consider selling off roads, parks
- Suffering Ohio begs for federal lifeline
Saturday - December 27, 2008:
- Analyst: One Third Of Banks Could Collapse In 2009
- Depression Hits Detroit: Average home price $18,513 - Unemployment rate 21%
- Iran urges ECO to drop dollar
- Will the U.S. Break Up
- Central banks revolution gathers pace
- Factory output in Japan sees biggest monthly fall
- GMAC gets Fed's OK to become bank holding company
- Retailers Want In on Stimulus Plan
- Russia braced for unrest
- U.S. Home Resales Fall; Prices Drop by Record 13.2%
- UN Adds Nearly $700 Million to Budget
Friday - December 26, 2008:
- 5 reasons the economy might recover faster than you think
- As Property Values Plunge, Tax Bills Might Not Follow
- Japan industrial output logs record fall
- Retailers' holiday sales plummet Spending Pulse
- States Driven to Make Deeper Cuts in Medicaid
Thursday - December 25, 2008:
- A recession the Fed can't easily fix
- BCSB Bancorp, Inc. Completes Sale of $10.8 Million in Preferred Stock Under the Treasury's Capital Purchase Program
- Biden says deal near on stimulus plan
- Congress to crack down on bailout recipients
- Few Industries Immune From Widespread Layoffs
- Jobless Claims Jump More Than Expected
- No Relief from the Christmas Gloom for Retailers
- Peoples Bancorp of North Carolina, Inc. Announces It Has Received $25.1 Million as an Approved Participant in the U.S. Treasury Department TARP Capital Purchase Program
- Plunge in Exports Reverberates Across Asia
- Russia faces budget deficit in 2009 - Kremlin aide
- SEC chief defends response to economic turmoil
- The Global Outlook A Recession But Not a Depression
- U.S. recession deepens, countries boost spending
- Wachovia shareholders approve sale
- Sol Sanders: Meltdown gives rise to worrisome Asian contagions
Wednesday - December 24, 2008:
- Bush signs pension bill
- Everything reduced sales in full flow after the high street's worst Christmas for years
- Housing slide worsens; Spain joins recession club
- Israeli lawmakers waive pay raise
- Dow off 100 on sagging home sales
- No Christmas cheer as recession gathers steam
- UN convenes summit to tackle global financial crisis
- What will new year bring to Europe
- World faces total financial meltdown Bank of Spain chief
Tuesday - December 23, 2008:
- Analyst: Game over for GM stockholders; shares fall 21%
- Banks keep bailout spending secret
- China Cuts Key Rates for Fifth Time in Three Months
- Dow falls 59 as investors seek safety
- GM Closes Ohio Plant, Cuts 1,080 Workers
- Japanese exports tumble, trade deficit grows
- Manufacturers cut jobs, pay amid downturn
- Mortgage re-defaults up; no sign of slowing
- Nearly 30 Percent of San Diego Mortgages Underwater
- OPEC worried member states won't honor cuts
Monday - December 22, 2008:
- China offers $19bln to Taiwan firms report
- Kissinger Calls For New International System Out Of World Crises
- Rogers The Elite Are Turning A Recession Into A Depression
- Christmas shut-down in Silicon Valley
- Gaza near to collapse as Israel tightens grip, says bank
- 50% chance of depression in US
- In Need of Cash, More Companies Cut 401(k) Match
- Irish govt poised for $7 bln bank bailout
- Money market funds reel as yields near zero
- Detroit mayor Deficit nears $300M, cuts ordered
- Medicaid applicants grow as recession widens
- Recession in U.S. is bringing job cuts, unrest to China
- Schwarzenegger Orders Unpaid Leave for State Workers
- Squeezed on All Sides, Parents Forgo Day Care
- Warning of 2009 wave of retail bankruptcies
Sunday - December 21, 2008:
- China promises economic assistance to Taiwan
- Bank sees unrest in Iran due to 'worst global economic contraction' since great depression'
Saturday - December 20, 2008:
- U.S. debt approaches insolvency; Chinese currency reserves at risk
- China jobless more grave than official figure
- From bridges to police U.S. draws up stimulus plan
- General Motors and Chrysler to get three-month reprieve as president raids $700bn intended for banks
- New Zimbabwe $10B note buys bread
- Oil producers seek oil price stability
- Police prepare for civil unrest as IMF warns of economic riots
- Record low mortgage rates toss housing a lifeline
- Bank sees unrest in Iran due to 'worst global economic contraction' since great depression'
- OPEC cuts production for third time in 3 months
Friday - December 19, 2008:
- Dow off 219 as GE slides, oil drops to $36
- Feds ban 'unfair' credit card rules
- Grim choice Walking away from a mortgage
- OPEC's record oil production cut
- Police prepare for civil unrest as IMF warns of economic riots
- Ron Paul: Fear Based Bailouts Constitute Economic Terrorism
- Russia provides 10 MiG fighter jets to Lebanon for free
- U.S. Leading Indicators Index Fell 0.4% in November
Thursday - December 18, 2008:
- Credit card rates, fees marching up
- Fall in demand forces Chrysler to close plants for a month
- GM Is Likely to File for Bankruptcy, Report Says
- Monetary policy committee minutes send pound to record low against euro
- OPEC makes deepest oil cut ever to rescue prices
- Sharp increase in jobless figures as time runs out for Woolworths
- Motorola freezes pension plans
- Oil states face an unfamiliar prospect deficits
Wednesday - December 17, 2008:
- 582,000 Canadian jobs at stake if Big Three fail study
- After rate cuts The Fed's new ball game
- Depression possible Canadian PM
- Economy Downturn Spurs 'Survival Panic' for Some in the US
- Fed cuts target for key rate to a record low
- Gov. David Paterson unveils dire New York State budget that includes new taxes, layoffs and cuts
- The Fed’s new zero-tolerance policy
- Warning of 3m jobless in UK as US slashes interest rates
Tuesday - December 16, 2008:
- Banksters Refuse to Honor Bloomberg FOIA Request
- As Rates Race to Zero, Printing Presses Gear Up
- Banks hit worldwide by US 'fraud'
- Chancellor admits Britain is facing more severe downturn
- Dollar Staggers as U.S. Unleashes Cash Flood, Deficit
- Rate cut expected as Fed mulls emergency tools
- State budget woes expected to worsen
- States’ Funds for Jobless Are Drying Up
Monday - December 15, 2008:
- Adva report Israeli middle class still shrinking
- Economic crisis unites Asian giants
- Bad Times Draw Bigger Crowds to Churches
- Cabinet votes to implement safety net
- Fed to press rates toward zero
- Iran to urge OPEC to cut oil output by 2 mln bpd
- OPEC set to slash oil output as prices crumble
Sunday - December 14, 2008:
- Asian leaders agree on more cooperation
- Banks and consumers brace for new credit card rules
- Japan considers $139 billion in stimulus
- Iran crisis Aging oil infrastructure could cripple its economy
- Oil price free fall seen continuing in '09 due to Gulf state debts
Saturday - December 13, 2008:
- After Auto Bailout Blowup, Bush Must Take the Wheel
- Obama will nuke Iran if Israel nuked, official says
- Bank of America to cut up to 35,000 jobs Financial News
- Financial forecast 11 bets for '09
- Jim Rogers calls most big U.S. banks 'bankrupt'
- 'Pay option' loans could swell defaults
- Ecuador defaults, says to fight monster creditors
- Retail sales fall for fifth straight month
- Small Georgia bank becomes 24th US failure in 2008
- Sanderson State Bank of Sanderson, Texas fails 25th of year
- Stocks Say Recession, but Bonds Say Depression
- Trouble in Toyland U.S. recession jolts China - Economy in Turmoil
Friday - December 12, 2008:
- Global rout on auto bailout crash
- Bankrate Mortgage Rates Down Six Straight Weeks
- EU grinds toward stimulus
- Recession seen worsening, deflation a risk
- Report Bailed-out firms bankrolled conventions
- Retail sales post big drop in November
- Sony to close last U.S. TV factory
- Treasury Criticized on Hill Over TARP
- U.S. recession to worsen, deflation a risk: report
Thursday - December 11, 2008:
- Regional Fed Chiefs Elite Insiders Have “Usurped Authority”
- What Are The People Who Predicted the Financial Crisis Predicting Now
- EA cuts outlook on weak holiday sales
- Economy threatens disaster preparedness
- Global demand for oil to plummet
- NYT eyes asset sales
- Rio Tinto to cut 14,000 jobs
- U_S_ auto deal hits snag as freeze grips China, Europe
- Unable to Escape Global Crisis, South American Nations Take Financial Action
Wednesday - December 10, 2008:
- Barroso calls for joint US-European stimulus package to fight recession
- Electronics industry axes jobs, sees bleak Christmas
- Harvard freezes salaries as recession bites
- Is Bank of America the next 'victim'
- Lobbyists flood Capitol Hill for help
- Dow off 243 on economic fears
- Regulator warns Israel cannot afford a bank collapse
- Sony shares slide after restructuring plans
- Sony slashing 8,000 jobs
Tuesday - December 9, 2008:
- Dow Chemical to cut 5,000 jobs
- Tribune files for bankruptcy protection
- Why lenders might forgive your debt
Monday - December 8, 2008:
- Bush, Democrats seek to finalize auto bailout
- Car dealers hit hard by Detroit's uncertainty
- Laid-off workers occupy Chicago factory
- Citadel Cuts Asian Principal Investments, Exits Tokyo
- Euro Dreams Fade for Zloty, Forint, Koruna on Slump
Sunday - December 7, 2008:
- 3M to cut 1,800 more jobs, postpone merit pay
- Family warns against tapping endowment
- Chinese property hunters to raid US
- Latest Economic Indicators Continue Dire News
- North Dakota enjoys good economic times
Saturday - December 6, 2008:
- First Georgia Community Bank closed -- 23rd failure in '08
- GM to lay off about 2,000 more workers report
- Job losses worst since 1974
- Latest Economic Indicators Continue Dire News
- Media Release - West Hartford Credit Union Closes
- Patients turned away from Zimbabwe's empty hospitals
- White House, Democrats reach deal on $15 billion auto aid
- Crisis summit for Gulf states to weigh oil prices, Iran threat
Friday - December 5, 2008:
- Already Struggling Consumers Hit Hard This Holiday Season by Lack of Discounts on Price-Fixed Gifts and Other Products
- AT&T cutting 12,000 jobs, books $600 mln severance costs
- Barna advises churches to revisit budgets
- Capital One to Buy Chevy Chase
- Credit card cutbacks hit consumers hard
- Economic crisis, treatment of Israel - a connection?
- Europeans cut interest rates sharply to fight crisis
- GM, Chrysler considering bankruptcy to get bailout report
- GM, Chrysler May Accept Bankruptcy to Receive Bailout
- Gulf Oil CEO says gas could hit $1 next year
- Iran Confronts an 'Economic Evolution' Ahmadinejad's Plan to Curb Government Subsidies Threatens to Alienate Recipients
- Is This Detroit's Last Winter?
- Layoffs mount as crisis drags on
- Steep Job Cutbacks Add To Bleak Economic Picture
- Treasury may be considering mortgage help
- Treasury Weighs Action on Mortgage Rates
- US, China headed for possible currency clash
- Zimbabweans Turn to U_S_ Dollar as Hyperinflation Erodes Value of Local Currency
Thursday - December 4, 2008:
- Airlines Hurting; Delta Hints At Layoffs
- Are we watching the death of OPEC
- How low prices can hurt you
- Japan faces deep recession, central banks slash rates
- U.S. Steel to lay off 3,500 employees
- Record number of Americans using food stamps
Wednesday - December 3, 2008:
- From The “Panic” Of 2008 To The “Collapse” Of 2009
- Australia cuts interest rates to seven year low
- Bailout Monitor Sees Lack of a Coherent Plan
- Economic Signs Point to Longer, Deeper Recession
- Financial crisis could trigger social unrest, warns UN chief
- Metal prices fall further than during Great Depression
- Auto sales hit new lows; GM sales plunge 41 pct
- Texas-based Pilgrim’s Pride declares bankruptcy
- U.S. automakers seek aid, Europe looks to bolster banks
Tuesday - December 2, 2008:
- 13,500 jobs draw 775,000 aspirants
- Activist moves homeless into foreclosures
- Where Did the Fed’s Bailout Money Really Go Chart Shows Illegal Money Trail
- Credit card rates, fees marching up
- Credit-card industry may cut $2 trillion lines analyst
- Data signal deep global downturn
- Dow slumps 680 on economic worries
- Hu Sees China Losing Its Competitive Edge
- Icelanders rally to protest economic meltdown
- U.S. in recession, Europe backs spending hikes
- US bank stocks in biggest drop since crisis began
- US manufacturing hits 26-year low ISM
Monday - December 1, 2008:
- Charities lose faith and hope as funding crisis leaves them with £2_3bn black hole
- Economic rescue could cost $8.5 trillion
- Worst job losses in almost three decades expected
Archives --
November 2008
October 2008
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