US economic clouds darken

4-28-2007 • AFP

The US economy weakened dramatically in the first quarter to its worst growth pace in four years, expanding at a clip of just 1.3 percent, new government figures showed.

Economy crawls, raising recession fears

4-27-2007 • AP

The worst economic growth in four years is raising concern that troubles in the U.S. housing market will spread and throw the country into a recession before the year is out.

Capitol clout funnels funding home

4-26-2007 • USA Today

An unwritten rule distributed 60% of the money to the party in charge and 40% to the minority party, former House Appropriations Committee staffer Jim Dyer says. [Wonder where I get my claim on the Washington Party deal?]

Europe's move to biofuels threatens rainforest

04-26-2007 • FT.com via msnbc.com

(Unintended govt consequences. You can't fool Mother Nature or the Free Market) "In a bid to solve one problem, we risk creating another, and making things worse. Rainforest destruction is a major contributory factor in global warming and

Lenders act to limit US foreclosures

4-25-2007 • Christian Science Monitor

The home-loan industry, facing the worst housing downturn since the early 1990s, is ramping up efforts to help strapped borrowers stay in their homes. The goal is to restrain a gathering wave of foreclosures that carries big costs for both lenders

Apple’s Jobs ‘was warned’ on options

4-24-2007 • Financial Times

The statement by Fred Anderson, who agreed to pay $3.5m to settle backdating charges with the Securities and Exchange Commission, raises fresh questions about the role played by Mr Steve Jobs in improper backdating at Apple.

On U.S. debt, it's all quiet on presidential campaign trail

4-24-2007 • USA Today

One can read and hear about the federal government's mounting debt and increasingly dire financial outlook in a variety of places. The annual Social Security and Medicare Trustees report, which painted a bleak future. Speeches by Federal Reserve

Ron Paul 2008 on Lou Dobbs talking about “Free Trade”

04-24-2007 • CNN

PAUL: Free trade. I’m for free trade. Although I’m not for the type of system that we have today because I don’t believe it’s my concept of free trade.

Lawmakers agree on minimum wage tax package

4-24-2007 • Reuters

U.S. congressional negotiators have agreed on a package of small business tax cuts worth about $7 billion over five years as part of an effort to boost the hourly minimum wage by $2.10 over two years. [Layoffs ahead, no jobs for 18 y olds.]

Activists pushing disinvestment in Iran

4-22-2007 • Reuters

Momentum is growing for a movement that encourages Americans to withdraw investments in companies doing business with the Islamic republic, as well as other states perceived by Washington as security problems -- Sudan, North Korea and Syria.

Fannie Mae, Freddie Mac ready to expand the Housing Bubble

04-19-2007 • China Post

Freddie Mac's chairman and chief executive, said the company is "working on a major effort to develop more consumer-friendly subprime products that will provide stable financing alternatives going forward," which are expected by midsumm

Former Reagan Advisor angry Bush 'bankrupted America'

4-18-2007 • Raw Story

A domestic policy adviser to President Ronald Reagan and a treasury official under President George H.W. Bush, Bartlett assailed Bush's "big government conservatism" and said he was surprised at Bush's policies, despite his campaign

Euro, sterling hit landmark highs against dollar

4-18-2007 • AFP

The euro surged past 1.36 dollars for the first time since December 2004 on Wednesday while sterling hit a near 26-year high against the dollar on fears for US economic prospects.

Online bill payments surpass checks for first time

04-14-2007 • Checkfree

The 2007 Consumer Bill Payment Survey showed that, for the first time, online bill payments exceeded bill payments make by paper checks among online household. Online payments made up 39 percent of total volume of bill payments

Low Savings Rate in U.S. Seen As Danger

4-13-2007 • AP

The European Union's monetary chief said Friday that the United States' low savings rate and large budget deficit pose a risk to the global economy. [Oh so it is our fault that savings is unattractive due to lack of interest.]

Outlook for consumer spending turns hazy

4-13-2007 • AP

Spring looks bleak for the nation's retailers. After robust sales in March, there are signs that consumers are already spending less. And a trifecta of problems rising gas prices, a rougher housing market and the specter of higher interest rates

Ecofreaks driving cost of meat up in U.S.

4-13-2007 • London Times

The price of meat is set to rise in America as the nation’s helter-skelter dash to convert corn into road fuel begins to take its toll on the supply of food. The US Department of Agriculture has said that meat supply will fall this year because of

Fed worried about 'uncomfortably' high inflation: minutes

4-12-2007 • AFP

Federal Reserve policymakers expressed worry about "uncomfortably high" inflation and softer economic conditions but remained optimistic about improvements, minutes from a meeting last month.

Sell Your Home NOW! (unless you plan on riding out the depression there)

4-11-2007 • MSNBC

Mortgage mess spreads to Alt-A segment - Subprime turmoil ensnaring companies that lend to people with good credit

Realtors see home prices falling in 2007

04-11-2007 • Associated Press

WASHINGTON (MarketWatch) -- U.S. home prices will probably fall this year for the first time in at least 38 years, the National Association of Realtors said Wednesday.

Fed's Plosser: U.S. economy weaker than expected

4-11-2007 • Reuters

Philadelphia Federal Reserve Bank President Charles Plosser said the US economy is not as strong as the Fed had expected and prices remained higher. Personal consumption and employment were strong but business investment was weaker, Plosser said in

Fannie, Freddie slow in making progress, regulator says

04-10-2007 • Washington Business Journal

(This is the SPIN Story) Fannie Mae and Freddie Mac have made progress in addressing the problems from their massive accounting scandals, though it is taking "much more time and money" to correct them than expected, the companies' regul

U.S. gas prices jump 18 cents in 2 weeks

4-9-2007 • AP

The average cost of self-serve regular gasoline rose about 18 cents per gallon nationwide over the past two weeks, according to a survey released Sunday. That translated to an average price of $2.78 a gallon, according to the latest Lundberg Surve

As US foreclosures mount, states step in

4-5-2007 • Chrisitan Science Monitor

As many as 130,000 homeowners – the most in 30 years – are going into foreclosure each month. Experts worry that entire neighborhoods will decline – similar to what happened in the 1960s and '70s – as abandoned foreclosed homes cause property val

New Century files for Chapter 11 bankruptcy

4-2-2007 • Reuters

New Century Financial Corp. filed for bankruptcy protection, hit by rising homeowner defaults and cut off by its creditors, in the biggest collapse of a mortgage lender as the U.S. housing market slumps.

TJX says 45.7M credit card numbers stolen

3-28-2007 • AP

At least 45.7 million credit and debit card numbers of TJX Cos. customers were stolen from the discount retailer's computer system over several years, according to a regulatory filing by the company Wednesday.