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Economy - Economics USA

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arclein

For those who track stock market prices, a general index has always been a good tool. The one that I like best is the Wiltshire 5000 now named the DJ Wiltshire 5000. With 5000 decently sized companies, it provides a fair sense of market breath for the core of the market itself. In short, I feel greater confidence drawing inferences from that chart

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AP

President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial

institutions, proposing the most ambitious revision since the Great Depression of the 1930s.

The goal is to prevent a recurrence of the economic crisis that erupted in the United
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Washinton Post

In 1784, an Englishman named David Landreth opened a seed store in downtown Philadelphia, confident that newly independent Americans would also want the freedom of growing their own food.

The D. Landreth Seed Co., one of the oldest surviving corporations in the nation, has seen several owners and many shifts in its fortunes in the intervening 225 years. But

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Washington Post

"We," said Queen Victoria, employing the royal plural, "are not amused." "We," said the Treasury Department, relishing the royal prerogatives it exercises nowadays, "are gratified that not a single court that reviewed this matter, including the U.S. Supreme, found any fault whatsoever with the handling of this matter by either Chrysler or the U.S. government." Is it lese-majeste to note that Treasury is being misleading?

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Washington Post

Rising long-term interest rates are making it more expensive for home buyers, corporations and the U.S. government to borrow money, threatening to further stifle an already weak economy.
 
In just the past two weeks, the rate on a 30-year, fixed-rate mortgage has risen to 5.6 percent from 4.9 percent, ending a boom in refinancing and working against a budding recovery in the housing market. Rates on corporate borrowing

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Washington Post

“To set the record straight there has been no official announcement relating to any potential investors but rest assured our negotiations are on track and we expect to have a new ownership structure finalized in the early summer,” Saab said. “Until then enjoy the increased speculation in the knowledge that the next chapter in Saab Automobile’s history is just around the corner.”

"GM is currently in negotiations with potential investors, these are private talks and we will not comment any further," wrot

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Reuters

Hartford Financial Services Group Inc said it will take as much as $3.4 billion of federal bailout money and sell up to $750 million of common stock to bolster capital after large losses on investments.

The 199-year-old life and property insurer announced its plans after saying Chairman and Chief Executive Ramani Ayer will retire by the end of the year.

 

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arclein

The US consumer is losing a large portion of his net worth and creditworthiness through no fault of his own. And who do you think the average American housewife is going to be blaming for this attack on their home? They are already beginning to wonder who the hell they elected. And somehow, a paean to socialist policies rings pretty hollow when one checks the size of your monthly unemployment payout.

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CalculatedRiskblog.com

 
“May foreclosure activity was the third highest month on record, and marked the third straight month where the total number of properties with foreclosure filings exceeded 300,000 — a first in the history of our report,” said James J. Saccacio, chief executive officer of RealtyTrac.

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Wall Street Journal

At least there's one place in America that's wearing like Teflon through the recession: Washington, D.C. Most corners of the economy may be struggling, but in the nation's capital it's boom times, baby.

According to new data, the area's unemployment rate dropped to 5.6% in April from 5.9% in March. This is the second consecutive month of improvement for Washingtonians, and it's leagues from the national unemployment rate, which hit 9.4% in May.

 

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Bloomberg

I’ve finally figured out the Obama economic strategy. President Barack Obama and his team have been having so much fun wielding dictatorial power while rescuing “failed” firms, that they have developed a scheme to gain the same power over every business. The plan is to enact policies that are so anticompetitive that every firm needs a bailout.

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