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Economy - Economics USA

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RevolutionaryPolitics

Every part of the sector – from multifamily apartment buildings to retail shopping centers, suburban office buildings, industrial facilities, and hotels – has accumulated a huge amount of defaulted or nonperforming paper. It’s an impossible, swaying

News Link • Global Reported By Istvan Lettang
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Doug Hornig

That’s right, the next train wreck will be in commercial real estate. Couldn’t be worse than last year’s residential market crash? That remains to be seen. But it’s coming soon, probably as early as the second quarter of next year, and there’s nothin

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arclein

When the financial system blows up and credit is sucked down a capital-hole, the economy goes into a downward spiral. Businesses slash inventory and lay off workers, workers have to cut back on spending and credit. That creates less demand for produc

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arclein

In this dark firmament, however, one bright star shines. The sole state to actually gain jobs is an unlikely candidate for the distinction: North Dakota. North Dakota is also one of only two states expected to meet their budgets in 2010. (The other i

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Reuters

A broad U.S. stocks rally sent the Dow industrials to a 13-month high on Monday, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors' desire for risk. The agreement by G20 finance ministers and central

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Reuters

To put these numbers into perspective, a savings of 2.43 percentage points in one quarter amounts to $1.2 billion in saved interest costs on $203 billion. That's over 40% of its third-quarter earnings. (I'm speaking of Goldman Sachs)

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Reuters

China hopes the USA will keep its deficit to an appropriate size to ensure stability in the US dollar. The Chinese expressed concern massive US deficit spending and near-zero interest rates would erode the value of China's huge US bond holdings.

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NY Times

Stock market volatility is back, a signal to some experts that the powerful rally that started in early March may be coming to an end. The Dow Jones industrial average rose or fell more than 100 points in seven of the past 12 trading days, capped by

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Peter Schiff for LewRockwell.com

Today's release of the October jobs report showed the loss of another 190,000 jobs had pushed the official unemployment rate to 10.2%, only the second time since the Great Depression that unemployment was quoted in double digits

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AP

Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion. The McLean, Va.-based company has received about $51 billion since it was seized by federa

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AP

Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans. The Federal Deposit Insurance Corp. to

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Reuters

Central banks with trillions of dollars in reserves that are already stepping up euro and yen purchases will likely continue doing so in coming years, driven by worries over the stability of the greenback. A record U.S. budget gap and the rise of dyn

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Reuters

[The true U6 unemployment rate is 20%.] The U.S. jobless rate [U3] unexpectedly jumped to a 26-1/2-year high of 10.2 percent last month, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.

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Huffington Post

North Dakota is the only state in the Union to own its own bank. The Bank of North Dakota (BND) was established by the state legislature in 1919, specifically to free farmers and small businessmen from the clutches of out-of-state bankers and railroa

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AP

House Financial Services Committee chairman Barney Frank, under fire (being lobbied) from some fellow Democrats and consumer groups for carving out what they call loopholes in legislation designed to prevent another economic meltdown, said in a lette

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AP

The bill, costing $24 billion, would provide every American running out of unemployment insurance benefits this year with an additional 14 weeks. The out-of-work in states with jobless rates at >8.5% would get 6 more weeks on top of that.

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