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Economy - Economics USA

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AP

Barack Obama said there is "little doubt we've moved into recession," underscoring the need for a 2nd economic stimulus package, swift steps to shore up the housing market and a energy policy to reduce reliance on foreign oil imports.

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LewRockwell

The housing bubble has popped. This is going to take the price of housing in the United States lower than it is today. I think 20% lower is a conservative figure. The commodity bubble is still in full force. It is a worldwide bubble. The price of ene

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Reuters

U.S. banking regulators swooped in to seize mortgage lender IndyMac Bancorp Inc on Friday after withdrawals by panicked depositors led to the third-largest banking failure in U.S. history. California-based IndyMac, which specialized in a type

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AP

Wall Street sank further Friday, as investors dumped stocks on troubles at mortgage companies Fannie Mae and Freddie Mac and oil's continuing climb into record territory. Dow Jones industrials slid below 11,000 for the first time in 2 years

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Michael Shedlock / Mish

"Congress ought to recognize that these firms are insolvent, that it is allowing these firms to continue to exist as bastions of privilege, financed by the taxpayer," Poole, 71, who left the Fed in March, said in an interview.

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Reuters

Federal Reserve Chairman Ben Bernanke said on Tuesday the U.S. central bank may keep an emergency lending facility for big Wall Street firms open longer than it initially intended, a signal the Fed is fearful of shutting down a vital backstop.

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themessThatGreenspanMade.blogspot.com

In this Financial Times commentary, Wolfgang Münchau comes ever so close to asking what must be one of the most difficult of all questions for any practicing economist to ask, "What if what they taught you is wrong?"

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Portfolio.com

It's a classic Wall Street “whodunit," complete with a collection of greedy investment bankers, slow-witted policymakers and numbskull Florida home buyers. How will Americans ever figure out who killed the once-vibrant and cheery U.S. econom

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Washington Post

Think you're worried about the economy? Phillip Swagel is a wreck. The assistant Treasury secretary for economic policy, Swagel came out for his monthly economic briefing after the Labor Department reported the country had shed jobs for the sixth

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Reuters

Global demand of some 86 million barrels per day is almost level with supply, and production growth is not keeping pace with soaring demand from emerging economies such as India and China.

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AFP

"They need to stabilize the dollar. Stabilizing the dollar will help," he said. A fall in the dollar makes oil cheaper for buyers using other currencies because crude is priced in the US unit on international markets. Although record prices

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Richard McCormack

While Congress and the Bush administration rattle on about the importance of free trade agreements and refuse to adopt anything resembling a pro-American manufacturing policy, millions of Americans' lives are in economic turmoil.

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