User: newstrust Topic: US Economy
Category: Recession
Last updated: May 21 2013 16:35 IST RSS 2.0
 
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Green Stimulus: Let's Try Again 27.5.2008 Truthout.com

    The last week provided new evidence the economy remains weak and the recent spate of predictions of a short mild non-recession will be proven wrong. That means it is time to get out in front of the herd of surprised economists and start talking about another stimulus package.

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The summer job, a teenage ritual in the United States, looks endangered this year 27.5.2008 International Herald Tribune: Business
As the economic downturn ripples across the United States, the job market for 2008 is shaping up to be the weakest in more than half a century for teenagers looking for summer work.
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Think this recession is bad? Prepare for an economic tsunami 27.5.2008 Post-Bulletin: Local Opinion
Congress is poised to approve a budget blueprint that would kick many long-term spending issues to next year. This budget offers no realistic way to pay for extending tax cuts for the middle class or for growing entitlement programs.
Iraq War May Have Increased Energy Costs Worldwide by a Staggering $6 Trillion 27.5.2008 AlterNet
The Iraq War means oil costs three times more than it should. How are our lives going to change with oil heading toward $200 a barrel?
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Greenspan says recession still likely in U.S.: report 27.5.2008 Earth Times
LONDON (Reuters) - Former Federal Reserve chairman Alan Greenspan was quoted on Tuesday as saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.
Greenspan says recession still likely in U.S.: FT 27.5.2008 Boston Globe: Latest
Former Federal Reserve chairman Alan Greenspan was quoted on Tuesday as saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.
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Soaring Fuel Prices Take a Withering Toll on Truckers 27.5.2008 NY Times: Business
Thousands of truckers are selling used rigs in what appears to be the biggest shakeout since trucking was deregulated in 1980.

Greenspan says recession still likely in U.S.: FT 27.5.2008 Earth Times
LONDON (Reuters) - Former Federal Reserve chairman Alan Greenspan was quoted on Tuesday as saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.
Reports Of Its Death Have Been Greatly Exaggerated 27.5.2008 Red State
So George Packer has written a tome of sorts on The piece has received a lot of attention in the Blogosphere, with the right-of-center half expressing some dismay and wringing its hands (this reaction is not universal but it is prevalent) and the left-of-center half expressing undiluted delight and happiness (this reaction is much more prevalent). Then, there are the outliers; Andrew Sullivan, that well-known "Conservative of Doubt" whose Burkean tendencies naturally caused him to support the ultra-Burkean Barack Obama for President . Meanwhile, I'm just writing to point out that much of the piece is overwrought and that the alarmism of the title is inversely proportional to the article's accuracy. There's a great deal more. Read on . . . ...
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Soros: Rocketing oil price a bubble 26.5.2008 NewsTrust Yahoo Pipes Feed
Speculators are largely responsible for driving crude prices to their peaks in recent weeks and the record oil price now looks like a bubble, George Soros has warned. The billionaire investor's comments came only days after the oil price soared to a record high of $135 a barrel amid speculation that crude could soon be catapulted towards the $200 mark.

Baltic economies facing tougher times 26.5.2008 International Herald Tribune: Front Page
With growth slowing and inflation rising, Latvia, Lithuania and Estonia must find ways to stimulate their economies.
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Another difficult year predicted for slumping housing industry with rebound still months away 26.5.2008 Star Tribune: Business
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Plenty of 'For Sale' signs but actual sales lagging 26.5.2008 AP Business
WASHINGTON (AP) -- Like spring flowers, the "For Sale" signs are sprouting in front yards all over the country. But anxious sellers are facing the most brutal environment in decades, with a slumping economy, falling home prices and rising mortgage foreclosures....
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Another difficult year predicted for slumping housing industry with rebound still months away 26.5.2008 Star Tribune: Business
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Last American WWI veteran honored 26.5.2008 Twincities.com: Nation
KANSAS CITY, Mo. — Frank Woodruff Buckles, the last known living American-born veteran of World War I, was honored Sunday at the Liberty Memorial during Memorial Day weekend celebrations. "I had a feeling of longevity and that I might be among those who survived, but I didn't know I'd be the No. 1," the 107-year-old veteran said at a ceremony to unveil his portrait. His photograph was hung in the main hallway of the National World War I Museum, which he toured for the first time, and the Veterans of Foreign Wars of the United States presented him with a gold medal of merit. Today, he will be presented the American flag flying outside the memorial. Buckles, who now lives in Charles Town, W.Va., has been an invited guest at the Pentagon, has met ...
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Oil: A Global Crisis 25.5.2008 Common Dreams: Headlines
The invasion of Iraq by Britain and the US has trebled the price of oil, according to a leading expert, costing the world a staggering $6 trillion in higher energy prices alone. The oil economist Dr Mamdouh Salameh, who advises both the World Bank and the UN Industrial Development Organisation (Unido), told The Independent on Sunday [...]
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Oil turns inflation into investors' greatest concern 25.5.2008 International Herald Tribune: Business
Somewhere between the implosion of the Wall Street firm Bear Stearns in March and the $130-plus price of oil today, inflation supplanted the credit crunch as the biggest U.S. economic worry.
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Boom times for Brazilian consumers 25.5.2008 International Herald Tribune: Business
Thanks to a newfound economic stability and vitality, Brazil's economy and middle class are growing, the former fueled by high commodity prices and the latter by the availability of credit.
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Toughest summer job is finding one 25.5.2008 Raw Story
TULSA, Okla. — School is out, and Aaron Stallings, his junior year of high school behind him, wanders the air-conditioned cocoon of the Woodland Hills Mall in search of a job...

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Fundamentally: When the ‘I’ Word Replaces the ‘R’ Word 25.5.2008 NY Times: Business
As the most dire recession fears have started to abate, the bond market is beginning to fret about an equally dangerous development for its future: the growing threat of inflation.

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