Jan 27 Consumer Confidence Hits New Low as Home Prices Sink, State Unemployment Soars By PBS News Hour Americans' attitudes about the economy have sunk to a new low as another round of glum economic data released Tuesday also shows home prices plummeting and state unemployment rates soaring. Continue reading
Jan 27 With the Economic Downturn and Wages Stagnant, What Economic Rationale Prevails for Increasing Prices? Question/Comment: In the New York Times recently, it was stated that there has been a drop in consumer prices. Here is NYC I have found that prices have risen. For example, a half gallon… Continue reading
Jan 27 Obama to Push Stimulus Plan with GOP Lawmakers By Admin, PBS News Hour President Obama is making his first trip to Capitol Hill since his inauguration to push for broad bipartisan support of his $825 billion economic stimulus plan. Continue reading
Jan 26 Watch Massive Job Cuts Renew Calls for Quick Action on Stimulus Several U.S. companies reeling from the economic downturn announced a total of some 45,000 job cuts on Monday. Analysts assess what the employment situation signals about new government efforts to revive the economy. Continue watching
Jan 26 What Would Happen if the Fed Decided to Raise Interest Rates? Question/Comment: A stupid question, perhaps, but here goes. Okay, lowering the overnight rate to 0.25 percent doesn’t seem to have worked very well. What would happen if the Fed decided to RAISE the rate… Continue reading
Jan 26 U.S. Companies Slash More Than 45,000 Jobs By Admin, PBS News Hour More than 45,000 job cuts were announced by major U.S. companies Monday, part of a wave of global job cuts in response to dismal 2008 financial results. Continue reading
Jan 26 Following Financial Meltdown, Iceland's Government Collapses By PBS News Hour Iceland's coalition government collapsed Monday under the pressure of the country's financial meltdown, the first government to fall as a direct result of the worldwide economic crisis. Continue reading
Jan 26 When Do You Stop Putting Money Down on a House and Start Putting it in a Bank Account? Question/Comment: Dave and I want to know: Pretend you want a house that costs $500,000. You have $500,000 saved up. In this market, when you can get a five percent interest rate (at least) on your 30-year mortgage, is it… Continue reading
Jan 26 Drug Giant Pfizer to Acquire Wyeth in $68 Billion Deal By PBS News Hour The world's largest drug maker, Pfizer Inc., announced Monday it is acquiring rival company Wyeth for about $68 billion, in the largest pharmaceutical sector takeover since 2000. Continue reading
Jan 25 Why Are People Now Encouraged To Buy? By Business Desk Question/Comment: Is this economic downturn really related to so many U.S. citizens buying themselves into big debt with credit cards? Why then, are people now encouraged to buy? Paul Solman: Citizens, corporations and government… Continue reading