12 Results

No wonder America is having trouble escaping the clutches of the subprime crisis, the GFC and recession it triggered. A study from the Federal Reserve reveals three big hits.

A stand-up comedy club entrepreneur in Chicago is using the American economic recession not to scale back his business but to expand it, writes Gary Strauss.

Time for a bit of perspective on the US stock market, which recently saw ten days of a plunging Dow. The Economist offers a historical graph, showing that a significant market drop doesn’t necessarily equal a recession.

Let’s reverse the rollercoaster back past this double dip to the first, the initial drop into US recession, post-Wall Street massacre, as a freshly minted President rose to be inaugurated.

Don’t be fooled by their cash splashing bonuses and reported “record profits”, says Paul Krugman: the big banks are still in deep poo; they’re just really good at pretending they’re not.

Warren Buffett bailed out luxury geegaw flogger, Tiffany’s this week by buying $US250 million of the struggling jeweller’s debt, writes Glenn Dyer.

Barack Obama has got off to a shaky start at the helm of the American economy, but at least he recognises the recession is getting worse, writes Alan Kohler.

Commodity and sharemarkets are set for some temporary respite but the good news can’t last, writes Glenn Dyer.

It’s been another day of terrible economic news from around the globe and all signs are now pointing to a sustained global recession, writes Glenn Dyer.

The grim economic indicators keep emerging from the US, writes Glen Dyer, and there’s more bad news on the way.

America’s housing depression continues to deepen, and could worsen in 2009, according to a leading rating agency, writes Glenn Dyer.

US industrial giant, General Electric, has shocked the markets by revealing a 12% drop in first quarter earnings and cut its forecast for 2008 so deeply that it expects little or no gain in profit this year, reports Glenn Dyer.