Recession » News

US Treasury Secretary says that the Economy is still Struggling

admin — Thu, 15 Mar 2012 06:26:32 +0000

Despite the news that the US economy is now on its way to recovery, Timothy Geithner warned that this year is still one of those difficult periods.... ...Read More...

U.S Economy to take a Plunge on another Recession?

admin — Thu, 15 Mar 2012 06:25:43 +0000

There are now drafts being made on the G20 Toronto communiqué which aims to lower the deficits, hoping that a back-to-back recession would not happen.... ...Read More...

United States will Experience Slower Financial Recovery this Time

admin — Thu, 15 Mar 2012 06:24:06 +0000

People in United States may afford to buy enough meals and new clothes this year. However, the Anderson School of Management in UCLA said that many Americans may not have enough money to spend on big expenses such as new house or new car. From the same report, it was also mentioned that the recovery from the financial crunch will also be slower compared to the last recessions that the country experienced before.... ...Read More...

California Government Issues IOUs

admin — Thu, 15 Mar 2012 06:06:51 +0000

California’s lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state’s vendors and local agencies, who instead will get “IOU” notes promising payment.... ...Read More...

U.S. Q3 Foreclosures Highest Ever

admin — Thu, 15 Mar 2012 06:05:10 +0000

Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter.... ...Read More...

Worse Recession Since 1930′s

admin — Thu, 15 Mar 2012 06:04:01 +0000

Former U.S. Federal Reserve Chairman Alan Greenspan said on Tuesday the current global recession will “surely be the longest and deepest” since the 1930s and more government rescue funds are needed to stabilize the U.S. financial system.... ...Read More...

UK Inflation Rate Falls Most Since at Least 1997

admin — Thu, 15 Mar 2012 05:53:36 +0000

The U.K.’s inflation rate had the biggest drop in at least 11 years in October as oil and food costs fell and the economy slipped toward a recession.... ...Read More...

US & Global Auto Sales Down

admin — Thu, 15 Mar 2012 05:51:46 +0000

Despite agressive discounts from major automakers U.S. automotive sales dropped 41% in February, the lowest level for the month since 1967.... ...Read More...

Third Largest Bank Failure of 2009

admin — Thu, 15 Mar 2012 05:45:08 +0000

Guaranty Bank was closed by federal regulators Friday in the third largest bank failure this year bringing the total number of failures to 81 in 2009.... ...Read More...

Unemployment Packs A Bigger Punch

admin — Thu, 15 Mar 2012 05:42:49 +0000

It hurts more to be unemployed now than the last time the jobless rate hit 10 percent.... ...Read More...