Newsweek: Students increasingly hit by high-interest loans Nov 21, 2009
This is Great Depression. Bigger than 1930s. (MSNBC -- Business)
Japan's Latest Economic Ailment: Deflation Nov 21, 2009
Falling prices drag down corporate earnings, wages, consumer spending and investment by businesses, and can lead to a deflationary spiral like the one the world experienced during the Great Depression. "If price deflation leads to asset deflation and that leads to further deterioration, then that will lead to the collapse of the economy," says JPMorgan Securities chief economist Masaaki Kanno. (Time.com)
Gov's IDA plan not well received Nov 21, 2009
Our economy is in the worst shape it has been in since the Great Depression - how can the governor propose a measure that will destroy hope for economic recovery in New York. asked Andrew Rudnick, president and chief executive officer. (Buffalo Business First, NY)
The Afghan Speech Obama Should Give Nov 21, 2009
And there I will suggest that, as a start, and only as a start, we look at two programs that were not only popular across the political spectrum in the desperate years of the Great Depression, but were remembered fondly long after by those who took part in them -- the Civilian Conservation Corps and the Works Progress Administration. These basic programs put millions of Americans back to work on public projects that mattered to this nation and saved families, lives, and souls. (CBS News)
Mexico GDP Fell Less-Than-Forecast 6.2% in the Third Quarter From Year Ago Nov 21, 2009
Mexican President said Nov. 5 at the Bloomberg Economic Forum in Mexico City that five consecutive months of gains in formal employment through October herald the end of the economys biggest contraction since the Great Depression. The credit crisis a year ago interrupted Mexicos longest stretch of growth in more than a decade. (Bloomberg -- Latin America)
What is deflation? Nov 20, 2009
The last memorable deflation was during the Great Depression ... It is what happened in the Great Depression of the 1930s and in Japan in the 1990s ... The most memorable deflation was during the Great Depression of 1929. (BBC News -- Business)
Senate candidate walks across Connecticut Nov 20, 2009
" "To do that, you need a draft and a tax increase," he said, adding that Americans have shown they don't want a draft, and in the worst economic crisis since the Great Depression, taxing people is a fool's errand. As for Senator Dodd, a recent Quinnipiac poll showed the Connecticut Senator losing to all Republicans. "If he is the nominee, we (Democrats) lose and, then what, odds are, it's (former Congressman) Rob Simmons or (World Wrestling Entertainment executive) Linda McMahon. They're not... (Fairfield Minuteman, CT)
New N.F. hotel opening soon Nov 20, 2009
The structure opened in 1929, just a few months before the stock market crash of that year and subsequent Great Depression. It was originally built as the corporate home for the United Hotel chain. (Buffalo Business First, NY)
One in 7 US mortgages foreclosing Nov 20, 2009
Yet record foreclosures will add to the growing supply of unsold homes, sapping the housing market as it attempts to recover from the worst slump since the Great Depression. The MBA said the percentage of loans in foreclosure rose to 1. (India Times)
Gomes has overseen plenty of change at San Jose airport Nov 20, 2009
Just maintaining a healthy equilibrium during the worst recession since the Great Depression is tough enough, but Gomes also has been instrumental in expanding the airport s international facilities. Anyone who has flown through SJC or picked up visiting relatives in the past couple of years will have noticed the impressive pace of construction. (San Jose Business Journal, CA)
Business Journal announces CFO of the Year recipients Nov 20, 2009
This year s CFO of the Year award winners and runners-up demonstrate the diversity of industry backgrounds and experience levels that have helped Silicon Valley s companies weather the worst economic trough since the Great Depression. Surviving this experience will be a shining star on their already impressive resumes. (San Jose Business Journal, CA)
Selig: Some baseball teams lost money in 2009 Nov 20, 2009
Selig said final figures for this year are still being calculated and everyone is living in the most difficult economic times since the Great Depression. He declined to identify the teams. (ESPN -- Baseball)
Click to read:14 Percent of U.S. Homeowners In Peril Nov 20, 2009
14 Percent of U.S. Homeowners In Peril - CBS News. WASHINGTON, Nov. 19, 2009. (CBS News)
Roger J. Donahue, at 86; was Superior Court judge Nov 20, 2009
His father, Frank J., became a judge during the Great Depression, and the timing made an impression on his son. In those days, with the tails and the top hats and the silk gloves, it was a pretty glamorous thing for a son to be looking at when everyone else was so poor, said Judge Donahue s other son, Christopher of Barnstable. (Boston Globe)
* BHP Billiton chief executive cautious on global recovery Nov 20, 2009
BHP Billiton chief executive Marius Kloppers said strong commodity exports had underpinned a world-beating performance by Australias economy during the worst global downturn since the Great Depression. But he warned the bounceback had been slower than expected in advanced nations and the transformation of Chinas economy would be a complex and unprecedented process that should not be taken for granted. (Taipei Times, Taiwan -- World)
Top Eurobank prepares for 'global economic collapse'... Nov 20, 2009
Even the great depression was not a complete collapse ... I sold our home in a short sale, took other assets and cashed them out, bought physical gold coins and have them hoarded and stashed, just like my Dad did in the Great Depression ... We need your pension to throw beer down teenage throats and pander to unmarried teenage mothers"! Peter A on November 19, 2009 at 06:41 AM Its not about as much (what) is invested in its (who). Laban at least understood this much , the strange works and acts... (The Drudge Report)
Sands' Hong Kong IPO Seeks $3.4 Billion at Highest Valuation for Casino Nov 20, 2009
Thats the worst performance since at least 1995 as the U.S. economy struggles to emerge from the worst recession since the Great Depression, data compiled by Bloomberg show. Market Conditions. (Bloomberg -- Asia)
U.N.: Mixed picture on plight of children Nov 20, 2009
UNICEF said climate and population shifts threaten recent advances in child rights and the convention's 20th anniversary year has been marked by the worst global financial crisis since the Great Depression. "There is a real danger that the repercussions of these shocks will have lifelong consequences that span generations, undermining efforts to advance children's rights for the coming decades," it warned. (MSNBC -- International)
Economy showing signs of sustained growth Nov 20, 2009
He urged Congress to pass a financial regulation overhaul intended to strengthen the banking system and guard against market-driven excess, to avoid a repeat of the worst crisis since the Great Depression. Congress is considering a plan that includes changes to oversight of large banks, consumer protection, and derivatives. (Boston Globe)
Weekend Guide: Theater Nov 20, 2009
": *** Bill Daugherty's '40s-era musical about the Great Depression seems all too relevant today. Triad Theater, 158 W. 72nd St.; 212-352-3101. "THE EMPEROR JONES": ***; Superlative revival of Eugene O'Neill's 1920 expressionistic classic. Irish Repertory Theater, 132 W. 22nd St.; 212-727-2737. Closes Nov. 29. "GIRL CRAZY": Ana Gasteyer, Wayne Knight and Marc Kudisch star in this Encores! revival of George and Ira Gershwin's 1930 musical. City Center, 131 W. 55th St.; 212-581-1212. Closes... (New York Post -- Entertainment)
Tower fights MDHA over land at planned convention center site Nov 19, 2009
"We are baffled by Tower's assertion that the property may be worth significantly more than they paid just two years ago in what is the worst real estate market since the Great Depression," said MDHA Executive Director Phil Ryan said in a news release in response to Tower s press conference. "We want to pay them and all other property owners fair market value, but we will protect the public's interest and will not be bullied into paying more than the property is worth.". (Nashville Business Journal, TN)
Ukraine famine Nov 19, 2009
America, still recovering from the Great Depression, did not want to listen to the unlikely story of a government, even a Communist one, deliberately starving millions of its own people. Furthermore, many pro-Soviet Western intellectuals at the time, including the writer George Bernard Shaw, were vocal in their admiration of the Soviet Union. (BBC News -- Europe)
Frost: Laws will protect us from Big Finance Nov 19, 2009
the highest figure since the Great Depression. " Warren says we re living in a world of moral hazard, where the big banks get a government guarantee: if they win, they get rich, but if they don t, the taxpayers will cover their losses. For example, CitiBank has been given a $300 billion tax-backed guarantee, but the real economy (the rest of us middle and working classes) is awash in foreclosures and credit card debt, and even with the Dow over 10,000, we ve still got 10 percent unemployment.... (Lincoln Journal, MA)
A century of memories Nov 19, 2009
In the last 100 years, Tadlock has seen two world wars, the popularization of technology and the Great Depression, which he said was much worse than the current economic crisis. During the depression, Mama cut the tail off her coat to make me a coat, Sowery said, adding that the family pedaled pork in Forest to make end's meet. (Forest Scott County Times, MS)
The Conservative Century? Nov 19, 2009
For believers in big government, the Great Depression appeared to prove that markets could not survive without extensive government management. For opponents of the New Deal, Franklin Roosevelt s expansion of federal and presidential powers seemed an American variation of fascism. (The American Conservative)
The Worst Isn't Over Nov 19, 2009
5 per cent GDP growth in the third quarter, suggesting that the most severe recession since the Great Depression is over, the American economy is actually much weaker than official data suggest. In fact, official measures of GDP may grossly overstate growth in the economy, as they don't capture the fact that business sentiment among small firms is abysmal and their output is still falling sharply. (The American Conservative)
La Posada Hotel, Winslow Nov 19, 2009
When it opened in 1930, the nation was well into the Great Depression, and the Santa Fe Railway had begun to suffer losses. A railroad official telegrammed the Fred Harvey Co.. (AZCentral -- Travel)
Harry Truman made critical point in 1960 USU speech Nov 19, 2009
Our country is in the worst financial condition since the Great Depression. Unemployment is at its highest level since 1980. (Logan Herald Journal, UT)
Mukesh Ambani Leads India's Richest as Net Worth Jumps 54%, Forbes Says Nov 19, 2009
Indias benchmark has rallied 76 percent this year, headed for its best annual performance in 18 years, as global stocks rebound on signs the worst recession since the Great Depression is easing. Indian stocks may extend gains in the next three to four years, according to , chairman of Templeton Asset Management Ltd. The number of Indian billionaires rose to 52 from 27 last year, Forbes said. (Bloomberg -- Asia)
Elizabeth Warren Winning Means Banks Won't Sell When They Can't Explain It Nov 19, 2009
Warren said she probably inherited her populism from her grandparents, who built one-room Indian schools during the Great Depression. While they didnt understand the financial world, they knew President made their money safe by establishing the , she said. (Bloomberg)
Obama warns of 'double-dip recession' Nov 19, 2009
Asked whether the jobs forum should have been held sooner, Obama said the focus after he took office in January was "to make sure we didn't slip into a Great Depression.". "We've gotten that job done," he told Todd. (MSNBC -- Business)
Tax credit to steady, not rescue, shaky U.S. housing Nov 19, 2009
The housing credit has pulled many a wary buyer off of the fence, but it is not a fix to the mess of troubles that spawned the deepest housing slump since the Great Depression. This is a slow, tentative recovery, evidenced by the most recent reading of builder sentiment of the National Association of Home Builders. (Yahoo News -- Press Releases)
Town Meeting approves Danvers High School $80 million project Nov 19, 2009
Now in a time determined to be the worst economic climate since the Great Depression, he said, the town would have difficulty meeting its regular expenses. Town Meeting member Lou Varardi, too, talked about an elephant or a gorilla in our budget. (Danvers Herald, MA)
Obama predicts renewed US growth in fourth quarter Nov 19, 2009
" Last Thursday, hours before embarking on his first trip to Asia as president, Obama announced a jobs forum would be held at the White House in December to try and tackle the crisis. "This is an inexact science," Obama said of job creation, noting that the huge US economy was hit by its worst crisis since 1933, the depth of the Great Depression. "The first measure of success of economic recovery is did we pull ourselves back from the brink. Have we gotten economic growth going again. (Channelnewsasia.com)
Cigar guitar Nov 19, 2009
In a small shop behind his Somerset home, Hauger makes single stringed instruments like those popular during America s great depression, in addition to dulcimers made from leftover paneling and everyday materials. (Video by Roger Vogel). (Somerset Daily American, PA)
Senate, Help Your President -- Deep-Six ObamaCare! Nov 19, 2009
President Franklin D. Roosevelt, during the Great Depression, launched the New Deal -- a blinding array of expansive and expensive government programs designed to "rescue" the economy. Obama, as did FDR, calls this expansion necessary in order to achieve economic recovery. (Townhall.com)
Whitney: More Bearish Now Than in A Year Nov 19, 2009
You didnt see this much even in the Great Depression, she says. $1. (Newsmax)
Geithner says international financial system must be reformed Nov 18, 2009
"After the experiences of the Great Depression and World War II, the United States led in the creation of the international financial system that anchored prosperity and stability for more than 60 years," Geithner said in testimony prepared for the Senate Foreign Relations Committee. "Today, that system must be reformed to address 21st century challenges," he said. (Xinhuanet, China)
Mexico, Colombia Plan Samurai Bond Sale to Tap Funds From Japan Investors Nov 18, 2009
9 percent of gross domestic product in the first half amid the worst global recession since the Great Depression. Samurai bonds, or yen-denominated notes sold by foreign borrowers in Japan, yielded 1. (Bloomberg -- Asia)
Beulah P. Hagadorn Nov 18, 2009
She and her family, consisting of her parents, Beulah and four siblings, lived in several Michigan communities during her childhood, as her father followed carpenter work throughout the state during the Great Depression. She and her siblings attended several schools throughout the state and Beulah completed the tenth grade. (Gaylord Herald Times, MI)
Mild praise for Obama Nov 18, 2009
The good news is that Obamanomics pulled the U.S. economy back earlier this year from a financial abyss as serious as that faced in the Great Depression. But the bad news, according to Zanny Minton Beddoes, the economics editor for The Economist, is that we have an economy that is in far from good shape, that, at best, will be freighted by high unemployment and slow growth for two years, maybe longer. (Jacksonville Business Journal, FL)
Why would LeBron go to New York? Nov 18, 2009
Even if the new arena goes up in the midst of the worst economic slump since the Great Depression, the Nets still have no base to build on. Plus, for the next couple of years, theyre probably going to be playing in Newark in the Prudential Center. (MSNBC -- Sports)
Amy Goodman: Who put the rainbow in ‘The Wizard of Oz?' Nov 18, 2009
Thanksgiving is around the corner, and families will be gathering to share a meal and, perhaps, enjoy another annual telecast of The Wizard of Oz. The 70-year-old film classic bears close watching this year, perhaps more than others, for the message woven into the lyrics, written during the Great Depression by Oscar-winning lyricist E.Y. Yip Harburg ... Before long, he wrote the song that captured the essence of the Great Depression, Brother, Can You Spare a Dime. (Auburn Citizen, NY)
Break Down Sales Growth, Margins, ROE Nov 18, 2009
How close did we come to the Great Depression 2. 0. (Investors Business Daily)
Labor Group Unveils Plan to Tackle Joblessness Nov 18, 2009
Trumka will take the plan to the White House next month, when he joins business leaders, economists and others for a December 3 brainstorming session on how to tackle joblessness in the weakest economy since the Great Depression. Rising unemployment poses a political danger to Obama as his fellow Democrats in Congress approach the 2010 election with voters increasingly dissatisfied with incumbents. (Newsmax)
Amelia: Takes off but doesn't soar Nov 17, 2009
com - Amelia Takes off but doesn't soar. " onclick="Next();" src="/images/butt_next. (Channelnewsasia.com)
AfDB: Fourth AEC-Researchers Track Missing Links in Africa's Development Nov 17, 2009
Mr. Kaberuka said the problem of creating employment and stimulating global demand may be dealt with by extending Keynesian policies to African countries in the same way they were extended to Europe during the great depression. He also asked the conference to address the issue of diversification - noting that after fifty years of independence; most African economies were still commodity-dependent. (allAfrica.com)
Roofless Retirement Nov 17, 2009
Norden grew up during the Great Depression and said she feels she's "doing okay," though, like many others who depend on Social Security, she is displeased with the possibility of not receiving a Social Security cost-of-living increase this year. She has been living in low-income housing since the 1980s, when her husband left Juneau and the bank foreclosed on her house, she said. (Juneau Empire)
AP IMPACT: Tobacco execs quickly find tax loophole Nov 17, 2009
It's currently a mess in large part due to the deepest and most pervasive global recession since the Great Depression of the 1930s. WASHINGTON -- With a simple marketing twist, tobacco companies are avoiding hundreds of millions of dollars a year in taxes by exploiting a loophole in President Barack Obama's child health law. (Fresno Bee -- Business)
Sale date dictates sales tax aid Nov 17, 2009
It's currently a mess in large part due to the deepest and most pervasive global recession since the Great Depression of the 1930s. Ways to stay afloat. (Fresno Bee -- Business)
ET Exclusive: Bad bosses good for economy, says Scott Adams Nov 17, 2009
His comments may pertain to the US and how the worst economic situation since the Great Depression has affected that country, but California resident Adams could well be looking at India and Indians from the same entrepreneurial prism going forward ... Im sure during the Great Depression there probably wasnt anybody who was better off. (India Times)
Our views: Sunshine State scams (Nov. 15) Nov 17, 2009
Its a head-in-the-sand approach that ignores the urgent need for new rules to prevent the mortgage and banking system excesses that caused the worst recession since the Great Depression. Brevards representatives in Congress should get strongly behind the toughest possible oversight policies when the House and Senate reconcile the bills for a final package early next year. (Florida Today)
Palin's populist book tour won't help GOP Nov 17, 2009
Then he was blamed for the Great Depression, which began less than a year after his election. Homeless men called their shantytowns "Hoovervilles.". (Christian Science Monitor)
READ: Bernanke's speech Nov 17, 2009
However, in the recent downturn, employers were exceptionally uncertain about the future, some even fearing a second Great Depression. Moreover, tight credit conditions left little margin for error. (USA Today -- Money)
Fed Eyes Dollar Drop, but Hews to Low-Rate Pledge Nov 17, 2009
The Fed slashed U.S. overnight rates to near zero in December to support a recovery from the deepest U.S. recession since the Great Depression. "Bernanke just locked the Fed into an easy monetary policy, at least in the short term, so any implicit threat of response to dollar declines simply has zero credibility," said Stephen Stanley, U.S. economist at RBS.. (ABC News -- Wire)
Couric, Gov. Palin: The Interviews Nov 17, 2009
NEW YORK, Nov. 16, 2009. On the Eve of the Release of Sarah Palin's Book, "Going Rogue," We Revisit Katie Couric's Interviews with Palin. (CBS News -- Evening News)
Paul Krugman: Chinese economy grows at expense of U.S. workers Nov 17, 2009
Cheap money and fiscal stimulus seem to have averted a second Great Depression. But policymakers haven't been able to generate enough spending, public or private, to make progress against mass unemployment. (Sacramento Bee -- Opinion)
Read the 'Cost of Freedom' recap Nov 17, 2009
Maria Cardona: When this president came into office, he inherited a massive deficit and one of the biggest economic meltdowns since the great depression ... We've got the biggest job loss since the great depression. (Fox News)
* GM to step up payments to US, Canada Nov 17, 2009
China and the US, with US$409 billion of trade between them, have swapped complaints about steel, poultry and tires as calls to protect jobs intensified during the worst economic crisis since the Great Depression. Also See: This story has been viewed 301 times. (Taipei Times, Taiwan -- World)
Regulators slow real estate recovery, critics say Nov 17, 2009
The industry is suffering its worst downturn since the Great Depression. The market s collapse has punished community banks, which typically hold a higher percentage of commercial real estate loans than other banks. (Charlotte Business Journal, NC)
Too early for Victory over Recession Day Nov 17, 2009
At that time, all Britain had to look forward to was blood, sweat and tears: more than 3 million unemployed by the end of the year, a fresh round of bank collapses, the start of a second Great Depression. But cash for clunkers has brought forward spending on cars; lower interest rates have led to a sharp reduction in monthly mortgage repayments; government pressure on mortgage lenders is helping to put a cap on home repossessions. (Sydney Morning Herald -- Business)
Letters for Monday, November 16, 2009 (1040) Nov 17, 2009
I know you inherited two wars and the worst economy since the Great Depression. We are proud of you in Hawai i; you grew up here and somehow I thought we had a special connection the White House. (Lihue Garden Island, HA)
State's trade exports trending upward Nov 16, 2009
California now is mired in its worst recession since the Great Depression, and international trade has been seriously damaged. China industrial output,retail sales up in October. (Fresno Bee -- Business)
3 banks prepared to pay record $29.7B in bonuses Nov 16, 2009
NEW YORK Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase survivors of the worst financial crisis since the Great Depression, are set to pay record bonuses this year. As the three biggest banks to exit the U.S. government's Troubled Asset Relief Program, none are required to limit compensation. (Honolulu Advertiser)
China, Japan Policymakers Say Fed's Low-Rate Policy May Fuel Asset Bubbles Nov 16, 2009
Bernanke, a scholar of the Great Depression, has overseen a record injection of liquidity into the worlds largest economy, pledging not to make the mistake of the 1930s, when officials tightened policy. U.S. Treasury Secretary reiterated his commitment to a strong currency on a trip to Asia last week. (Bloomberg -- Asia)
