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In short, they helped lay the groundwork for the Great Depression ... In 1926, the central bankers in your book were already worrying about many of the things that would eventually lead to the Great Depression. (Time.com)
Deutsche:Bank Loan Losses Double by 2010 Jan 6, 2009
4 percent loss levels reached in 1934 during the Great Depression as the industry has taken on increased structural risk in addition to mortgages that should become more apparent during the cyclical slowdown, the brokerage said. Internal capital generation may not be enough to cushion losses, Deutsche Bank said and cut its earnings view on 16 large commercial banks, including Citigroup (C.N), Bank of America Corp (BAC.N) and JPMorgan Chase PM.N). (Newsmax)
Obama Aims to Morph Republicans into Democrats Jan 6, 2009
Though liberals such as Obama and the vast majority of history textbook authors have a romantic attachment to FDR, the best evidence is that his New Deal did not end the Great Depression, but exacerbated it. No one has done a better job in rebutting liberal history revisionists and FDR apologists than Burton W. Folsom Jr. in "New Deal or Raw Deal? How FDR's Economic Legacy Has Damaged America.". (Newsmax)
The corruption of money Jan 5, 2009
Nor should we forget that Bernanke, a non-partisan scholar, had made a life's study of the causes of the Great Depression. The right man at the right time. (Sydney Morning Herald -- Opinion)
Recession hitting Lompoc in the wallet Jan 5, 2009
The state, national and world economy is undergoing a distress that many believe has not been seen since the era of the Great Depression, said Santa Barbara City Finance Director Bob Peirson. Advertisement. (Lompoc Record, CA)
A disastrous year for equity funds, Morningstar data show Jan 5, 2009
In the U.S., the SIndex plunged 37% in 2008 amid the most severe financial crisis since the Great Depression. But for Canadian holders of U.S. equity funds, the losses were mitigated by the Canadian dollar's sharp depreciation against the U.S. currency. (Canada Newswire)
* Brown pledges to create jobs with ambitious program Jan 5, 2009
His promise to use public money not only to create short-term jobs, but also to build a low-carbon economy for the future, will be seen as a modern reworking of the New Deal X a program of public works, such as dams and roads, to help the US recover from the Great Depression. Brown even said his green plans would be bigger than US president-elect Barack Obamas planned Green New Deal, relative to the size of Britains economy. (Taipei Times, Taiwan)
Calbreath: Resolve to exercise thrift, caution Jan 5, 2009
We are in the worst financial mess since the Great Depression, and it could be 2010 or later before we see the light at the end of the tunnel ... Even in the Great Depression, a number of people came out well through investing wisely ... But as we face the greatest economic decline since the Great Depression, we will all have to learn to be thriftier especially since our conduits for cheap and easy credit have dried up. (San Diego Union-Tribune)
600,000 new GOVERNMENT employees? Jan 5, 2009
Power, pop, and probings from ABC News Senior White House Correspondent Jake Tapper. is ABC News' Senior White House Correspondent based in the network's Washington bureau. (The Drudge Report)
Where is the economy headed in 2009? Jan 5, 2009
Romer, a popular undergraduate professor and expert on the Great Depression, will share Obama's ear with Larry Summers, named to head his National Economic Council, and Timothy Geithner, the president-elect's nominee for Treasury secretary. Romer has less political experience than Summers, a former Harvard University president who created controversy by insinuating that women had less aptitude for science than men. (San Francisco Chronicle)
Credit crunch prompts a comeback for layaway Jan 5, 2009
"So retailers are adding layaway to the equation. They're saying, I can tie you up as a consumer now, I can solve your savings problem and help you start your holiday shopping earlier, and I don't have to worry about chasing you later." Layaway grew out of the Great Depression, where consumers could set aside goods they wanted and make regular installments until the debt was paid and they got to take the goods home. The concept got shoved to the back of the storeroom in the 1980s, as easy... (Montana Standard, MT)
Depression didn't have bailouts Jan 5, 2009
I wish those financial commentators on television would stop invoking Cassandra-like visions of the Great Depression while discussing the current recession ... The Great Depression, of course, was worse for some people than others. (Albany Times Union)
Wall Street greets 2009 with huge rally Jan 5, 2009
Obama, who takes office on January 20, has already pledged stepped-up efforts to revive the world's largest economy in the face of the worst global financial crisis since the Great Depression. Before the New Year holiday on Thursday, Wall Street closed 2008 with a two-day rally that failed to ease the blow of horrific full-year losses. (Sydney Morning Herald -- Business)
Comeback year? Cedar Valley leaders think so Jan 5, 2009
"The Great Depression, when you look at the numbers, was a pretty incredible phenomenon. The number of banks that failed. People standing around looking forlorn. I would say I don't think that's going to happen.". McLaughlin agreed. (Waterloo Courier, IO)
The Arts Need Money Jan 5, 2009
There was actually increased philanthropy during the Great Depression in the 1930s. And according to a recent Giving USA report, total giving in the U.S. has risen (in current dollars) every year but one since 1969. (Forbes)
Obama's 'Rubin Constellation' Jan 5, 2009
On both Wall Street and in Congress, the same old crooks and party hacks who succeeded in producing the greatest economic crisis since the Great Depression have now ended up with even more power and more control than they had before the election. It s not unlike what happened after the collapse of the failed economy in the Soviet Union. (Human Events Online)
Region will struggle to get past Panic of 2008 Jan 5, 2009
He and other economists aren t predicting another Great Depression, but they see that panic as the prelude to an extended recession this year one that could hit California harder than other areas of the country, and Sacramento worse still. While investor concerns seem to have calmed, what s still unclear is the lengths to which policy-makers will go to reverse the recession. (Sacramento Business Journal, CA)
Fed serving vital function Jan 5, 2009
Though only 343 banks were forced to close due to this crisis, this represented 40 percent of U.S. banks then in operation, a failure rate far more significant and damaging than anything experienced since, including the Great Depression. The Founders gave our government discretion to choose our money s base and its value, and that is precisely what the Fed is doing in the best interest of the nation. (Logan Herald Journal, UT)
Bloggers' challenge: The year 2008 will most be remembered for ... Jan 5, 2009
MountLogan wrote on Jan 2, 2009 12:02 AM:" Bloodsucking GREEDY corporate executives who have brought the worst economic downturn to this nation's economy since the Great Depression with no end in sight. Simply put, SHAMELESS CAPITALISM ! ". grumpy151 wrote on Jan 2, 2009 9:06 AM:" are you sure I can't get you some cheese? ". (Logan Herald Journal, UT)
Timeline: Even to his defenders, Bush's legacy is debatable Jan 5, 2009 Books: Price wars, layoffs and new works from Canadian stars Jan 5, 2009 Cox leaves mixed legacy at SEC Jan 5, 2009 Aberdeen Lured by India Rupee Bonds as Investec Becomes Bullish on Brazil Jan 5, 2009 Letters to the Editor (Jan. 5) Jan 5, 2009 Rainbow Room to close restaurant, citing economy Jan 5, 2009 Ask an Expert Jan 5, 2009 U.S. economy faces tough sledding Jan 5, 2009 Program meets the only requirement Jan 5, 2009 CNNObama Agenda: Tax Cuts, Spending Jan 5, 2009 Groups say changes leave loopholes for mortgage lenders Jan 5, 2009 Design loves a Depression Jan 5, 2009 Mike Leigh, John Travolta, Sam Shephard Jan 5, 2009 BB&T names new CEO Jan 5, 2009 Would you Adam and Eve it? Coors... Jan 5, 2009 We'll avoid 'Great Depression' - economist Jan 5, 2009 Officials: Fed, ECB Ready to Tackle Deflation Jan 5, 2009 Falcons: It wasn't just the economy Jan 4, 2009 Congress: New year, new pay hike Jan 4, 2009 As printed snapshots vanish, we're losing more than shoe boxes full of mementos Jan 4, 2009 Make 2009 the year you stop defining yourself as a consumer Jan 4, 2009 Legislators start ’09 with bad economy on minds Jan 4, 2009 Figuring out when the recession might end Jan 4, 2009 Recession hitting Lompoc in the wallet Jan 4, 2009 Economics focus: Diagnosing depression Jan 4, 2009 FOXBusiness: Jobs Report May Kill New Year's Buzz Jan 4, 2009 Outlook murky, but optimistic Jan 4, 2009 Fed Has Abandoned Monetary Policy, Critic Says Jan 4, 2009 Credit crunch prompts a comeback for layaway Jan 4, 2009 Brown unveils plan to create 100000 jobs Jan 4, 2009 Country can teach Obama a lesson Jan 4, 2009 Rainbow Room to close grill, citing economy Jan 4, 2009 TWO VIEWS: Obama may rue scrapping windfall tax to fund 'green economy' Jan 4, 2009 Overall, will 2008 be remembered by historians as a good year or a bad year, and why? Jan 4, 2009 Comeback year? Cedar Valley leaders think so Jan 4, 2009 Economy tops everyone's agenda as Congress returns Jan 4, 2009 * US stocks face headwinds in spite of New Year rally Jan 4, 2009 Scholars unflinching in negative assessment of Bush's legacy Jan 4, 2009 Waveyard stalled, but developers optimistic Jan 4, 2009 Falcons: It wasn't just the economy Jan 4, 2009 District considering opening credit union at RHS Jan 4, 2009 We're defined by our shopping Jan 4, 2009 Local officials welcome Beshear's pension plan Jan 4, 2009 The Barack Ballad of Abraham, Franklin, and John Jan 4, 2009 U.S. economy faces tough sledding Jan 4, 2009 The Year Ahead: Don't expect much of a recovery in 2009 Jan 4, 2009 Glimmers in the gloom Jan 4, 2009 Local Industry News & Notes for Sunday, January 4, 2009 Jan 4, 2009 M&S to report dismal high street... Jan 4, 2009 Japan Bonds May Post First Loss Since 2003 as Government Boosts Debt Sales Jan 4, 2009 U.S. could be facing debt 'time bomb' Jan 3, 2009 Immigration through the ages Jan 3, 2009 First-Ever Realtor(R) Float Wins Award Jan 3, 2009 U.S. could be facing debt 'time bomb' Jan 3, 2009 Guzzlers clash with green car wave Jan 3, 2009 FOXBusiness: Dow Surges Into New Year, Passes 9,000 Jan 3, 2009 Credit crunch prompts a comeback for layaway Jan 3, 2009 Madoff skeptic to appear at House meeting Jan 3, 2009 Stocks soar in first trading day of 2009 Jan 3, 2009 * Oil slides as traders view gains as excessive Jan 3, 2009 * Stocks open year on high note Jan 3, 2009 * [LIFESTYLE] Koreans appetite for plastic surgery sags amid downturn Jan 3, 2009 Who Saw The Housing Bubble Coming? Jan 3, 2009 Bag scales can cost travelers Jan 3, 2009 Silvaggi's first year Jan 3, 2009
However, the first chief executive with a masters in business administration from Harvard, no less, and the son of a president known for his foreign-policy expertise is leaving President-elect Barack Obama a nation thats arguably in the worst shape since Herbert Hoover left Franklin Roosevelt the Great Depression and a world in which fascism was on the march 76 years ago. Obama gets Pearl Harbor and the Depression all rolled into one, said Gleaves Whitney, the director of the... (The Pantagraph newspaper)
Film: A sea of sequels, and a trip back to the good ol' days Jan 5, 2009
But here's my surefire bet for the annum: director Michael Mann's Public Enemies, where the gifted Johnny Depp plays the crafty John Dillinger, folk hero of the last Great Depression, and a quaint reminder of the good old days you know, back when the robbers got robbed, when banks weren't mercifully bailed out but manfully held up. Recommend this article. (Globe and Mail -- Entertainment)
Lest we forget, The Maltese Falcon, The Grapes of Wrath, Such Is my Beloved, The Waves and Tender Is the Night were all were published in the years of the Great Depression. Strictly from a literary perspective, 2009 already looks to be a winner. (Globe and Mail -- Entertainment)
Christopher Cox will most likely be remembered as the regulator who was unable to protect investors during the worst U.S. financial crisis since the Great Depression ... The Securities and Exchange Commission was founded during the Great Depression to help restore investor confidence in securities markets by requiring public companies to tell the truth about their businesses and by demanding that those trading in securities treat investors with fairness and honesty. (International Herald Tribune -- Business)
5 percent in the first 11 months as the worst global financial crisis since the Great Depression caused Pakistan, Ukraine and Hungary to seek loans from the. Investors expect rate cuts across many countries with no inflation problems going forward over the next couple of years, said , who manages $1. (Bloomberg)
It has led to the Second Republican Great Depression, a predictable result if one pays attention to history. Dugan calls out the scholars who put out this line of hooey. (Corvallis Gazette Times, OR)
The Rainbow Room has symbolized cosmopolitan elegance since it opened in 1934, during the Great Depression. It is located above NBC's studios at Rockefeller Center, offering Art Deco ambiance and glittering vistas of the city skyline. (USA Today -- Money)
The Xerox machine was first conceived of, and then worked on, during the Great Depression. Ditto Tupperware. (USA Today -- Money)
Anderson said new home construction could be a bright spot, which might begin to rebound from its worst slump since the Great Depression. Paulsen and Anderson made their comments during a 2009 economic outlook forum. (Casper Star-Tribune, WY)
Finally, Mr. Edward claims that the lack of a safety net was the cause of the Great Depression. I cannot begin to fathom from where he draws this conclusion, except perhaps an unbridled love for paternalistic big government. (Boston Globe -- Editorial)
Investors suffered the worst year in stocks since the Great Depression, and foreclosures are rising while housing values are declining at record paces. Virtually every state is facing a budget shortfall, forcing many to make plans to cut back on critical services and raise taxes. (News4Jax.com, FL)
The appraisal organizations contend that for many years after the Great Depression, lenders sought out competent appraisers as a central component of risk management activities and indicated that system worked. "Those tables turned in recent years however, as the lending industry became dominated by loan production and computerized risk management," the press release indicated. (Seacoast New Hampshire)
That was the case during the Great Depression, when an early wave of modernism flourished in the United States, partly because it efficiently addressed the middle-class need for a pared-down life without servants and other Victorian trappings ... "American designers took the Depression as a call to arms," said Kristina Wilson, author of "Livable Modernism: Interior Decorating and Design During the Great Depression" and an assistant professor of art history at Clark University ... A. O. Scott... (International Herald Tribune -- Arts)
Vincent Kessler/Reuters Sam Shepard. The Associated Press Published: January 5, 2009. (International Herald Tribune -- Arts)
Kelly S. King, 60, stepped into his role as CEO amid the roiling economic climate that is shaping up to be the worst economic crisis since the Great Depression. If you re someone who relishes a challenge, then you certainly couldn t ask for a better time to assume the role as CEO of a major financial services company than right now, King said in a written statement. (Jacksonville Business Journal, FL)
With beer sales in pubs at their lowest level since the Great Depression and reports of 36 pubs closing their doors every week amid the worst trading conditions in living memory, Mark Hunter, the boss of Britain s second-biggest brewer, could be forgiven for wanting to throw in the bar towel. Yet while the chief executive of Coors Brewers, which owns Carling Lager, admits that the company is making a profit of just a penny on every pint it brews, he is far from despondent about the industry s... (New York Post -- Business)
Madrid - The world is facing a serious recession but should avoid a repeat of the Great Depression it experienced in the 1930s, a top US economist said Sunday in an interview published in Spain. This recession would be more serious than others, but not as hard as the Great Depression, Jeffrey Sachs, a special advisor to the United Nations secretary general, told the daily El Pais. (Business Report, South Africa)
He forecast that the U.S. downturn would probably be judged the worst since the Great Depression, and the United States would be "lucky" to return to growth in 2009. "Speed of the outlays is an important concern," Feldstein said. (Newsmax)
Place an obit: (559) 441-6228. Web Search powered by YAHOO. (Fresno Bee)
In 1932, during the Great Depression, the House and Senate even cut their pay by 10 percent, then cut it by another 5. 5 percent in 1933. (Boston Globe)
By the time the Great Depression finally bankrupted him 22 years later, Kahn's intrepid op. rateurs had managed to document almost 50 countries, returning to France with 120 hours of film footage and 4,000 black-and-white pictures. (Boston Globe)
Since the Great Depression, we've embraced and celebrated our consumerism. National holidays are celebrated by shopping. (Boston Globe)
The nation s year-old economic recession will persist through 2009, according to many experts, making it the worst financial downturn since the Great Depression. That s pretty doggone serious, Brown said. (Columbus Commercial Dispatch, MS)
The Great Depression lasted for 43 months. Since then, there have been 12 recessions, averaging 10 months in duration, according to the National Bureau of Economic Research. (San Francisco Chronicle -- Business)
The state, national and world economy is undergoing a distress that many believe has not been seen since the era of the Great Depression, said Santa Barbara City Finance Director Bob Peirson. Advertisement. (Lompoc Record, CA)
America s Great Depression qualifies on both counts, with GDP falling by around 30% between 1929 and 1933 ... The Great Depression was America s deepest economic slump (excluding those related to wars), but at 43 months it was not the longest: that dubious honour goes to the one in 1873-79, which lasted 65 months ... Even before the Great Depression, downturns were typically much deeper and longer than they are today (see right-hand chart). (The Economist)
In December 1982 -- in the midst of the worst economic downturn since the Great Depression -- unemployment, according to the Bureau of Labor Statistics, was just under 12. 1 million, with 2. (Fox News)
Stocks caused mainly pain, with declines not seen since the Great Depression. Nearly everyone with money in the market will cringe when year-end statements arrive. (News & Observer)
2 trillion in recent months as it has tried to shield the U.S. economy from the worst financial crisis since the Great Depression by supporting key credit markets. This has included direct purchases of mortgage-backed bonds by the Fed and support for top-rated non-financial borrowers in the crucial commercial paper market, as well as hundreds of billions of dollars lent to banks on the basis of collateral. (ABC News -- Wire)
"So retailers are adding layaway to the equation. They're saying, I can tie you up as a consumer now, I can solve your savings problem and help you start your holiday shopping earlier, and I don't have to worry about chasing you later." Layaway grew out of the Great Depression, where consumers could set aside goods they wanted and make regular installments until the debt was paid and they got to take the goods home. The concept got shoved to the back of the storeroom in the 1980s, as easy... (Montana Standard, MT)
His promise to use public money not only to create short-term jobs, but also to build a low-carbon economy for the future, will be seen as a modern reworking of Roosevelt's New Deal - a massive programme of public works, such as dams and roads, to help America recover from the Great Depression. Brown even claimed his green plans would be bigger than Barack Obama's planned multi-billion-dollar "Green New Deal", relative to the size of Britain's economy. (guardian.co.uk)
FDR saw both the pain and the recovery from the Great Depression on long rail trips across the country. On the rails, Goodwin said, "The politician draws strength from the country.". (Albany Times Union)
The Rainbow Room has symbolized cosmopolitan elegance since it opened in 1934, during the Great Depression. It is located above NBC's studios at Rockefeller Center, offering Art Deco ambiance and glittering vistas of the city skyline. (MSNBC -- Business)
As middle-class and poor Americans struggle to recover from the worst economic collapse since the Great Depression, Obama seems intent on shunting them to the back of the breadline -- behind the very fat cats whose greed for excessive profits created the current economic debacle ... Great Depression memories. (Fresno Bee -- Opinion)
Tee Jay wrote on Jan 3, 2009 7:16 AM:" A good year, because I'm comparing it to 1929 which was the start of the great depression. 2009 might be a different story as are economy continues to free fall! ". 1 comment(s). (Sioux City Journal, IO)
"The Great Depression, when you look at the numbers, was a pretty incredible phenomenon. The number of banks that failed. People standing around looking forlorn. I would say I don't think that's going to happen.". McLaughlin agreed. (Waterloo Courier, IO)
WASHINGTON -- The 111th Congress will convene this week determined to avoid the mistakes of two eras: the Great Depression and the Carter administration ... Great Depression memories. (Fresno Bee -- Local)
Obama is scheduled to meet lawmakers tomorrow to finalize an infrastructure-based stimulus package that media reports say ranges from US$850 billion to US$1 trillion in a bid to pump prime the US economy, reeling from its worst crisis since the Great Depression. Nigel Gault, chief economist at IHS Global Insight, cautioned that any stimulus plan based on spending to boost infrastructure would take time to revitalize the economy. (Taipei Times, Taiwan -- World Business)
However, the first chief executive with a master's in business administration -- from Harvard, no less, -- and the son of a president known for his foreign-policy expertise is leaving President-elect Barack Obama a nation that's arguably in the worst shape since Herbert Hoover left Franklin Roosevelt the Great Depression and a world in which fascism was on the march 76 years ago. "Obama gets Pearl Harbor and the Depression all rolled into one," said Gleaves Whitney, the director of the... (Detroit Free Press)
To no one's surprise, those loans haven't materialized amid the worst worldwide financial crisis since the Great Depression. "We're talking about the worst credit cycle in the last 100 years," Hug told The Arizona Republic. (AZCentral -- Business)
Place an obit: (559) 441-6228. Web Search powered by YAHOO. (Fresno Bee -- Sports)
At a time in history where the current economic state of America is arguably as bleak as it was during the Great Depression, it is imperative that our youth learn how to manage their financial health, the Ripco proposal states. The school boards operations and strategic planning committee is expected to vote on the proposal Monday. (Forest Republican, WI)
Since the Great Depression, we've embraced and celebrated our consumerism ... Great Depression memories. (Fresno Bee -- Business)
Just as the state is struggling to cope with the worst national financial crisis since the Great Depression, cities and counties are straining to provide the most basic services to their residents, he said. My proposal will provide more than 37 million of immediate relief to our local governments in a way that keeps our pension systems financially sound for years to come. (Murray Ledger & Times, KY)
If there is any parallel to what has happened recently and the events of The Great Depression, what should be remembered is that we are only a few months in, following a market tumble. In Great Depression terms this is 1930 not 1933. (Townhall.com)
Anderson said new home construction could be a bright spot, which might begin to rebound from its worst slump since the Great Depression. Paulsen and Anderson made their comments during a 2009 economic outlook forum. (Casper Star-Tribune, WY)
Home prices have fallen nationwide for the first time since the Great Depression by about 10 percent as of early December, said Erik Hurst, also a Chicago Booth professor. The bad news: Housing prices will fall another 15 percent to 20 percent in the next couple years, he predicts. (Republican-American)
Not only is today s housing market the first to fall nationwide since the Great Depression, but Wu points out that prices have plummeted even on entry-level homes, which usually held up better than most of the market, given California s strong population growth over the years ... 5 million in the current recession, which he views as the worst since the Great Depression. (East Bay Business Times, CA)
For many years after the Great Depression, lenders sought out competent appraisers as a central component of risk management activities. This system worked. (Lihue Garden Island, HA)
This time round the dismal festive figures are set against the worst economic slump since the Great Depression and rivals including Next are also expected to report similarly declining sales. Sir Stuart Rose, executive chairman of M&S, is expected to give an upbeat defence of the business and argue that any comparisons with previous years are meaningless given the turmoil in the economy. (New York Post -- Business)
335 percentage point, as the worst financial crisis since the Great Depression tipped the economy into recession, returns on Japanese government bonds lagged behind those of every other Group of Seven industrialized nation, according to indexes compiled by New York-based Merrill Lynch & Co.. Japanese bonds of all maturities returned 3. (Bloomberg -- Japan)
Economists from across the political spectrum have endorsed the idea of going deeper into debt to combat what many call the most dangerous economic conditions since the Great Depression. The United States is in relatively good financial shape compared with other industrial nations, such as Japan, where the public debt equaled 182 percent of GDP in 2007, or Germany, where the debt was 65 percent of GDP, according to a forthcoming report by Scott Lilly, a senior fellow at the Center for American... (Huntington WSAZ-TV, WV)
During the Great Depression they were taped into notebooks as part of a WPA project. A grant from the National Foundation for the Humanities funded their conservation, preserving them from the corrosive effects of brown, oozing tape and iron gall ink. (Boston Globe)
This is the 120th year of the Rose Parade Tradition, an American classic that began as a way to promote Southern California real estate, and has marched through wars and the Great Depression. Millions of spectators from around the world watched the beautiful pageantry of floats. (PR Newswire)
Economists from across the political spectrum have endorsed the idea of going deeper into debt to combat what many call the most dangerous economic conditions since the Great Depression. The United States is in relatively good financial shape compared with other industrial nations, such as Japan, where the public debt equaled 182 percent of GDP in 2007, or Germany, where the debt was 65 percent of GDP, according to a forthcoming report by Scott Lilly, a senior fellow at the Center for American... (MSNBC -- Race)
Ironically, the year that brought us stratospheric gas prices and the worst economic meltdown since the Great Depression also ushered in the finest slate of fossil fuel-sucking supercars. Still, despite keeping one eye on the immediate practical needs of the average Canadian motorist, it's impossible not to marvel at the sheer brutal efficiency of a car such as Nissan's GT-R. Nissan rates the GT-R at 480 ponies. (The Province)
The bullish start to 2009 came as traders shrugged off a new report showing manufacturing activity plunged to 1980 levels last month, instead focusing on a potential rebound from the Dow's worst year since the Great Depression. Today's Markets. (Fox News)
"So retailers are adding layaway to the equation. They're saying, I can tie you up as a consumer now, I can solve your savings problem and help you start your holiday shopping earlier, and I don't have to worry about chasing you later." Layaway grew out of the Great Depression, where consumers could set aside goods they wanted and make regular installments until the debt was paid and they got to take the goods home. The concept got shoved to the back of the storeroom in the 1980s, as easy... (Montana Standard, MT)
The meeting will help the committee's work during the next session of Congress "in undertaking the most substantial rewrite of the laws governing the U.S. financial markets since the Great Depression," according to the committee. Madoff, 70, was arrested Dec. 11 after allegedly telling his two sons and federal investigators that he had been using money from new investors to pay off old ones in what may be the biggest such swindle in history. (Albany Times Union)
Obama, who takes office on January 20, has already pledged stepped-up efforts to revive the moribund economy in the face of the worst global financial crisis since the Great Depression ... "After experiencing the worst losses since the Great Depression, some onlookers believe bargain hunters were starting to emerge in the final days of trading of 2008," she said. (Sydney Morning Herald -- Business)
US stocks last year plunged the most since the Great Depression as financial shares collapsed, energy and metal producers tumbled and the economy suffered a year-long recession. The Standard s GSCI Index of 24 commodity futures lost 47 percent last year, the largest decline since its introduction in 1971. (Taipei Times, Taiwan -- World Business)
After experiencing the worst losses since the Great Depression, some onlookers believe bargain hunters were starting to emerge in the final days of trading of 2008, she said. This story has been viewed 293 times. (Taipei Times, Taiwan -- World Business)
After a pause, Park added: If this downturn is like the Great Depression, then we are all going to get killed off. . (Taipei Times, Taiwan -- World Business)
It noted that there had not been a decline in national housing prices since the Great Depression. Advances in the structure of mortgage finance since that time, the FDIC concluded, made any repeat very unlikely. (Forbes)
To prevent another Great Depression, the government has injected over $5 TRILLION dollars into the economy. Something the Rethuglicons were unwilling to do in the 20s and many are unwilling to do today. (Atlanta Journal-Constitution)
"I will tell you that it's going to be a tough year," he continued, making an apparent reference to a national economy that some observers believe is weaker than any time since the Great Depression of the 1930s. "It's not going to be very high," Mr. Silvaggi said of the likely tax increase. (Brookfield Journal, CT)
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