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A nation stuck on food stamps: three big hits to US economy

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.

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USA Today | LINKS|

The economy of comedy: does less money = more laughs?

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.

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Economist | LINKS|

A market drop doesn’t mean a recession

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.

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Riding the US rollercoaster

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.

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New York Times | ECONOMY|

Krugman: Big Banks are still buggered

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.

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US economy takes Pythonesque turn

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

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Kohler: Obama’s reality check

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.

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Economy wrap: Sharemarket run won’t last long

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

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US officially in recession, contagion to spread

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.

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Doom-laden US data wrap

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

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The Bricklayer Index: US housing crisis worse than ever

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

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Even General Electric can’t escape US doom and gloom

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.

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