Poll Has Obama at New Low for Handling Economy

President Obama earned his lowest marks ever on his handling of the economy....

Fed Official Warns: Cycle of Boom and Bust

“Monetary policy is a useful tool, but it cannot solve every problem faced by the United States,”

US sperm bank offers stimulus deals

Xytex is a sperm bank, and it's offering up to 200 dollars off a vial of sperm to clients wishing to start or add to their family, but need a little help.

"We're all feeling the effects of the economy and, especially for families seeking reproductive options, every dollar counts," Xytex spokeswoman Danielle Moores told AFP...

Read more sperm bank stimulus deals...

Source: www.breitbart.com

Stocks Take a Beating in February

A late burst of selling sealed a dismal finish for the stock market, which hit a fresh 12-year low on Friday as Citigroup sold a bigger chunk of itself to the government and General Electric slashed its dividend, spooking investors who were already jittery…

Read more Brutal February on wallstreet

Source: www.wsj.com

Go 'Inside the House of Money'

Wall Street titans and hedge fund managers were the masters of the universe, raking in seven- to 10-figure salaries for making bets in world markets…

Read more 'Inside the House of Money'

Source: the street

US set for ‘big bang’ financial clean-up

The Obama administration is gearing up for a “big bang” announcement within the next two weeks that will combine a bank clean-up with measures to reduce home foreclosures and probably steps to kick-start credit markets.

Read more US set for ‘big bang’ financial clean-up

Source: ft.com

IBM cuts jobs; number unknown

An unknown number of IBM employees in Research Triangle Park and other U.S. locations received job termination notices Wednesday, a day after the technology company reported robust financial results.

The notices hit workers in two business divisions: the software group, which has operations in RTP, and the sales and distribution group, said Lee Conrad, national coordinator of Alliance@IBM, a union that wants to organize IBM workers….
Read more Pink slips at IBM

Source: news observer

Hard-Hit Families Finally Start Saving, Aggravating Nation's Economic Woes

Usually, frugality is good for individuals and for the economy. Savings serve as a reservoir of capital that can be used to finance investment, which helps raise a nation's standard of living. But in a recession, increased saving -- or its flip side, decreased spending -- can exacerbate the economy's woes. It's what economists call the "paradox of thrift."

Read more Families hard hit..

Source: wall street journal

Obama warns of dire consequences without stimulus

"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible," Obama said in a speech set to be delivered at George Mason University in Fairfax, Va., outside Washington...

Read more Obama warns of dire consequences

Source: guardian.co.uk

Home prices may rise on mortgage refinancing boom

"It is quite likely that the country is about to enter a new mortgage refinance boom," the Ladenburg Thalmann analyst wrote in a note to clients…

Read more New refinancing boom


Source: yahoo finance

Japan see’s car exports drop sharply

Toyota said it still expected to make a profit on a net level for the year ended March but has cut its forecast sharply to 50bn yen, down from a previous estimate of 550bn yen….

Read more Toyota braced for historic loss

Source: bbc news

Obama fills economy team. But, “Years to recover..”

He noted his speed in putting his full economic team in place, saying he had done so at an earlier point than previous presidents because of the magnitude of the troubles the country faces…

Read more “Years to recover”…


Source: ap

Fed Cuts Interest Rate Near Zero

The new strategy is likely to involve unusually close co-operation with the Treasury of President-elect Barack Obama, which is still formulating its economic-rescue plans. The aim is to kick-start borrowing and spending to propel the economy toward a recovery by the middle of next year....

Read more US cuts interest rates


Source: economic times

Obama considers $1 trillion plan to jolt economy

Obama has not settled on a grand total, but after consulting with outside economists of all political stripes, his advisers appear determined to make the stimulus bigger than the $600 billion they initially envisioned, aides said Wednesday....

Read more Obama considers $1 trillion plan



Source: economic times

The End of Bush's Crusader Capitalism

Centuries before Adam Smith (the father of Capitalism) wrote in The Wealth of Nations that "progress results when individuals and businesses follow their own self-interests" and when "consumers compete with each other," the Christian crusaders of the Middle Ages were already pursuing such values....

Read more The End of Bush's Crusade


Source: world news

Wall Street rebounds sharply after big drop

Investors wary about the economy drew solace from Ford Motor Co. Chief Executive Alan Mulally, who said the automaker has enough cash to make it through 2009 and might not need government help. Rival General Motors Corp. said late in the day that it needs $12 billion in government loans to continue operating; the news briefly shook the market, but stocks rebounded before the close....

Read more Wall Street rebounds


Source: the times of india

Bush Rides Free Market

US preisdent George W. Bush, faced with a fast dwindling number of days in office, has been using his final world summit to try to keep a virulent economic crisis from triggering a retreat into protectionism.....

Read more Bush rides free market


Source: nzhereald.co.nz

Citi battles rumours of sale, merger

A day after it lost more than a quarter of its value, rumours were rife on Friday that Citigroup was considering a sellout (in parts or whole) or at least a merger...

Read more Citi battles rumours of sale, merger


Source: the times of india

The Door: Citigroup Job Cuts Will Top 100,000

We've run the numbers.

And even though Citigroup had announced 22, 000 job cuts back in October,and now another 53,000 - it is our numbers that tell us that their job losses will total more than 100,000.

Read today's headlines Another 53,000 Pink Slips for Citigroup


Source: yahoo news / cnn

UPDATE: Jobless Claims Hit 25-year High

The number of workers filing new claims for jobless benefits rose by an unexpectedly steep 32,000 last week to 516,000, the highest since the weeks following the September 11, 2001 attacks on the United States, the Labor Department said.

Read more Jobless claims hit 25-year high, imports plunge


Source: reuters