Lets Hang Together or We Will Surely Hang Apart!
Greenspan Says Housing Prices Nowhere Near Bottom
July 31 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said falling U.S. home prices are “nowhere near the bottom” and the resulting market turmoil isn’t showing signs of abating.
More Americans filed claims for unemployment insurance last week than at any time in more than five years, the Labor [...]
Gas Prices Fall to Seven Week Low
It’s all relative I guess.
NEW YORK - Oil prices sank to their lowest point in weeks Friday as investors questioned whether crude has cooled enough to reflect a serious deterioration in demand. Prices at the pump eased to nearly $4 a gallon, and AAA said a gallon of gas [...]
Foreclosures Double As Home Prices Continue to Slide
July 25 (Bloomberg) — U.S. foreclosure filings more than doubled in the second quarter from a year earlier as falling home prices left borrowers owing more on mortgages than their properties were worth.
One in every 171 households was foreclosed on, received a default notice or was warned of [...]
When Will Home Prices Stop Falling?
The answer is critical to millions of American homeowners who are watching their home equity melt away or are unable to move because falling values have sent potential buyers to the sidelines.
In the latest evidence that prices are still sliding, the National Association of Realtors reported Thursday that the median [...]
Ford Posts $8.7 Billion Loss
Ford Motor Co. announced plans to transform its vehicle lineup and reported a massive second-quarter loss Thursday.
Ford (F, Fortune 500) stock fell about 8% in early trading.
“Because of deteriorating economic conditions, demand has declined dramatically, especially in North America,” said Ford CEO Alan Mulally, who also blamed rising gas prices for [...]
Global Economy Near Melting Point
It feels like the summer of 1931. The world’s two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.
The US [...]
Severe Danger From Iraq Electrical Work
NEW YORK - Inferior electrical work by private contractors on U.S. military bases in Iraq is more widespread than the Pentagon has acknowledged, according to a published report.
A Senate panel investigating the electrocutions of Americans on bases in Iraq was told last week by former KBR Inc. electricians that the [...]
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