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Economy - Economics USA

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RawStory.com

The United States and China announced Tuesday a raft of trade agreements at the end of bilateral trade talks amid a faltering US economy buffeted by a financial crisis. (do you think that this trade agreement and the financial bailouts are linked :)

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AP

NEW YORK (AP) — Gold prices exploded Wednesday — posting the biggest one-day gain ever in dollar terms — as fears of more credit market turmoil unnerved investors and triggered a flood of safe-haven buying.

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Washington Post

The flow of money through critical parts of the financial system all but stopped yesterday, prompting the stock market to plunge again as banks lost faith in one another and investors rushed to US government securities to protect their savings.

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NY Times

The chief executives of the three big American automakers — General Motors, Ford and Chrysler — met on Wednesday afternoon with House Speaker Nancy Pelosi. When they emerged, they expressed optimism that the loan guarantees would be included as par

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Pro Liberate

In this famous 1911 editorial cartoon, Karl Marx is rapturously greeted on Wall Street and taken to the bosom of Carnegie and Rockefeller. This tidily sums up the relationship between Wall Street corporate socialists and the non-housebroken Marxist r

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MSN

The deal adds $5 trillion in debt to an already stressed national balance sheet. That basically doubles the U.S. national debt and can't help but push the U.S. dollar lower and U.S. interest rates higher in the long term. The U.S. government is g

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Reuters

[taxpayers must bail them out too] Shares of Wall Street firms Morgan Stanley and Goldman Sachs plummeted on Wednesday and Britain's biggest mortgage lender looked set to be sold in the latest signs of extreme distress in the financial industry.

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PrisonPlanet.com

Joseph Stiglitz has warned that the current financial crisis will continue for at least another eighteen months and in many ways represents a worse situation than the one faced by Americans during the great depression of the 1930s.

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by Michael S. Rozeff via LewRockwell.com

The Fed is doubling down on a bad hand. It is buying more stock as it falls, instead of selling out. The Fed is lending more and more of its liquid government securities to client banks. In return, it is accepting their questionable and risky collate

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