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Economy - Economics USA

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With the cost of gasoline, food products, and health care increasing at faster rates the current inflationary depression is beginning to show signs of full development. Like the deflationary depression of the 1930’s there will, no doubt, be many ind

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CNN

At a cost of nearly $42 million, the IRS wants you to know: Your check is almost in the mail. The Internal Revenue Service is spending the money on letters to alert taxpayers to expect rebate checks as part of the economic stimulus plan.

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London Times

AMERICA’s economy is definitely in recession, economists say, amid growing fears that the credit crunch is entering its most dangerous phase. Figures on Friday showing a second successive monthly fall in US employment sealed the question of whethe

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Mike

Troubles at Lehman, Bear Stearns, Carlyle Capital, and numerous other places continue to mount in a chain reaction fashion. Selling begets selling. Let's take a look. Mish

News Link • Global Reported By Mike Shedlock
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Mike

There was wild action in Bear Stearns options today as share prices hit a 5 year low following Moody's downgrades of Alt-A deals. Normally I would suggest the chart tells the story but in this case the rest of the story is quite interesting, and

News Link • Global Reported By Mike Shedlock
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LewRockwell

Certain financial developments of late, commonly treated by the mainstream media as negative, are gladdening my heart. It is sheer delight to read that Carlyle Capital is unable to meet margin calls. Its stock fell from $12 to $5 in one day. I hope i

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AFP

The dollar sank towards fresh lows against the euro and the yen in Asian trade on Monday after a bleak US jobs report added to concerns that the world's largest economy is in a recession, dealers said. The dollar slipped to 102.29 yen in Tokyo

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The New York Times

WASHINGTON — The worst fears of consumers, investors and Washington officials were confirmed on Friday, as deepening paralysis on Wall Street collided with stark new evidence of falling employment and a likely recession.

News Link • Global Reported By Justin Tyme
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MoneyCentral.MSN.com

In fact, reading this article, you will conclude that there's no way out, short of running the printing presses. The problem with that end game: At some point, foreigners will revolt.

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Reuters

Some of America's biggest banks, including Citigroup and Merrill Lynch, have been forced to seek billions of dollars in fresh capital from foreign investors after suffering huge losses tied to risky subprime mortgages. Raised concerns that foreig

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Michael Shedlock / Mish

However, Bernanke proposed one new, and scary idea: nationalization of mortgages by the FHA on a grand scale. Bernanke is clearly asking taxpayers to foot the bill for irresponsible bank lending.

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thelibertyadvisor.com/declare