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 the rest...
US Treasury Secretary says that the Economy is still Struggling
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 the rest...
The Worst Recession has Finally Come to an End – Bankers
If you are still feeling that financial crunch, don’t worry. A lot of bank economists are now saying that the worst global recession is already over.... read the rest...
United States will Experience Slower Financial Recovery this Time
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 the rest...
Third Largest Bank Failure of 2009
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 the rest...
Unemployment Packs A Bigger Punch
It hurts more to be unemployed now than the last time the jobless rate hit 10 percent.... read the rest...
FDIC Fund Negative Until Atleast 2012
The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.... read the rest...
U.S. Q3 Foreclosures Highest Ever
Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter.... read the rest...
Failed Banks
Number of failed US banks hits 94... read the rest...
UK Inflation Rate Falls Most Since at Least 1997
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 the rest...
Florida Unemployment
Florida’s unemployment rate for August was 10.7 percent, relatively unchanged from the revised July rate of 10.8 percent, but up 4.2 percent from a year ago. It is also 1 percentage point higher than the national average of 9.7 percent.... read the rest...
2008 Poverty Rate Highest in 12 Years
In the recession, the nation’s poverty rate climbed to 13.2 percent last year, up from 12.5 percent in 2007, according to an annual report released Thursday by the Census Bureau. The report also documented a decline in employer-provided health insurance and in coverage for adults.... read the rest...
