Fiscal cliff would drive the U.S. economy back into recession.

Fiscal cliff would drive the U.S. economy back into recession before end of 2013, a new report from the Congressional Budget Office said. Congressional Budget Office released a report showing that the most harmful consequences of the fiscal cliff, a fully armed and operational fiscal cliff would cost us 3.4 million jobs. Obama Fiscal Cliff Deal Risks Brush With Recession

HOPELESS: Suicide Rates Rise as Economy Falls

Suicide rates in the U.S. tend to rise during recessions and fall amid economic booms, according to study from..

Source: www.bloomberg.com

Stocks Rise After Grappling With Jobs Data

Stocks rose slightly to cap the market's biggest weekly increase in two months as strong earnings boosted the technology..

Source: www.online.wsj.com

Americans tread water in gulf between rich, poor

A Wall Street adviser leaves early for work to avoid panhandlers at his suburban train station. In coal country, a suddenly homeless man watches from a bench as wealthy women...

U.S. Deficit, 1 month: $165,040,000,000.00 -

The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt...

Fed, Citing Slowdown, to Buy U.S. Debt

Acknowledging that the recovery has slowed, the Federal Reserve on Tuesday announced..

Next bubble: Corporate bonds, stocks

History is littered with asset bubbles where investors piled into the next hot thing, only to lose much or all of their investments once the bubble bursts..

Bye,Bye: U.S.Dollar loses its ‘reserve’ status

The dollar is now reported to have 'lost' it's international reserve status...



Source: www.nypost.com

World economy on rebound

World economy on rebound, but future uncertain

Unemployment has now hit 8.1 percent, the highest figure in a quarter-century. What's worse, 13.8 percent of these people are under 29…

"I was laid off in 2007, and I didn't collect unemployment because I thought I was too good to collect it. I didn't want to be a drain on the economy….."

Read more generation Y..

Source: www.msnbc.com

UBS writedowns $1.3billion

A US legal settlement and new write-downs have added more than SFr1 billion ($1.3 billion) to UBS's losses and it expects earnings to be at risk for some time. UBS, Switzerland's biggest bank, posted a 20.9 billion Swiss franc loss for 2008, more...

Read more ubs suffers more losses...

Source: www.theaustralian.news.com.au

How the pursuit of profits drove so many of the bad decisions

while investors tally the losses that were generated by loose lending so far, the impact of another lax practice is only beginning to be seen.

That is the big banks' minimalist approach to meeting legal requirements - bookkeeping matters, really - when pooling thousands of loans into securitization trusts…

Read more making bad decisions…

Source: iht.com

It’s on: Feeding Frenzy at Facebook

Facebook on Wednesday announced a new homepage design and other new features to make the site more useful to companies and other public figures, as it tries to expand ways that people are using the social-networking service…

Read more feeding frenzy time….

Source: www.wsj.com

Mark zuckerberg

Why GM will run out of cash..

In a regulatory filing, GM, which was overtaken by Toyota as the world’s biggest carmaker last year, underlined the magnitude of its liquidity crisis by warning that it cannot afford to repay a $1bn bond maturing on June 1.

The bond is part of $27bn in unsecured debt that GM is seeking to restructure through a debt-for-equity exchange...

Read more GM warns it may run out of cash

Source: www.ft.com

Major Banks Posting Huge Losses

The nation's banks lost $26.2 billion in the last three months of 2008, the first quarterly deficit in 18 years, as the housing and credit crises escalated. The Federal Deposit Insurance Corp. said.....

Read more biggest losses since 1990

Source: Houston chronicle

Sharp Decline In India Economy

India's economy grew by less than expected in the last three months of 2008, official figures have shown...

Read more decline in india..

Source: bbc news

More women pawn their jewels in tarnished economy

"There's definitely been a great many more first timers coming in," Joseph Grunberg of Lombard Mutual Pawnbrokers & Jewelers said. "There are a lot more women then men, but that's because more women have more jewelry."..

Read more women pawn their jewels..

Source: reuters

U.S. Blew It: Must Now Spend TRILLIONS to Avoid Depression

“This economy needs support from the government, a check from the government in the trillions,” Gross said today in a Bloomberg Television interview from Pimco’s headquarters in Newport Beach, California. “There is a potential catastrophe if the U.S. government continues to focus on billions of dollars.”...

Read more U.S. must now spend trillions to avoid...

Source: bloomberg

US stocks end high on positive housing data

US stocks closed solidly higher on Tuesday as investors weighed a positive report on the troubled housing market, a mixed batch of corporate earnings and progress on the...

Read more stocks end high on positive housing data

Source: the economic times

Bank of America CEO sees 2008 results below expectations

Bank of America Chief Executive Kenneth Lewis warned that 2008 results will fall short of expectations and said executives at the giant lender, including him, shouldn't get bonuses for last year….

Read aticle Bank of America sees below expectations

Source: Marketwatch