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Economy - Economics USA

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Calculatedrisk.blogspot.com

New home sales in March were the lowest since 1991. Months of supply" is at 11 months; the highest level since 1981. Note that this doesn't include cancellations.

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Financial Times

US bank failures could rise above 'historical norms' as a weakening economy puts pressure on badly underwritten loans, particularly in commercial real estate, says John Dugan, who oversees 1,700 national banks as comptroller of the currency,

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Michael Shedlock / Mish

This is exactly what’s happening in Florida’s housing and financial markets. We are in the eye of the hurricane, and the back half will hit us twice as hard as the front.

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NY Sun / Josh Gerstein

Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also reports that some consumers are hoarding grain stocks.

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Christian Science Monitor

"We are all worth less and earning less than a year ago," says economist Mark Zandi of Moody's Economy.com. "That is why consumers are pulling back, and judging from the confidence numbers they are in a panic mode."

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http://www.telegraph.co.uk/

Jean-Claude Juncker, the EU's 'Mr Euro', has given the clearest warning to date that the world authorities may take action to halt the collapse of the dollar and undercut commodity speculation by hedge funds.

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gold-report.

Wall Street faces the growing risk of an equities bloodbath in coming months as the credit crunch spreads to the wider economy and earnings crumble, according to a pair of grim reports issued by Goldman Sachs and Wells Fargo. Goldman Sachs said th

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Daily Telegraph

Washington is happy to watch the dollar slide. "They are not going to worry unless there is a knock-on effect on US equity or bond prices. So far that hasn't happened. There are no signs that the dollar decline has turned disorderly," h

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BusinessWeek

Homeownership has long been a vibrant part of achieving the American Dream. But these days owning a home is more like starring in a horror flick, perhaps called Nightmare on Main Street. The numbers are frightening. Home prices are falling nationwide

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Michael Shedlock / Mish

Nearly every food staple has seen a double-digit percentage increase over the past year, including a 38% hike for a dozen eggs, to $2.16, and a 19% jump, to $1.78, for a loaf of white bread, according to American Farm Bureau data.

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waronyou

It is now commonplace and politically correct to blame what is referred to as the excesses of capitalism for the economic problems we face, and especially for the Wall Street fraud that dominates the business news. Politicians are having a field da

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Yahoo! Finance

My problem with the [bail out] is that the Fed saved this patient because it's a wealthy one. Saving the biggest investment banks in America is welfare for the rich. Would the Fed do that for you or me if we screwed up our investment portfolio?

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US News & World Report

With momentum building for some form of taxpayer-funded housing rescue, what better time to check in with one of the most ardent bailout opponents, Republican Rep. Ron Paul of Texas? Excerpts from an interview:

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