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Americans start saving when economy needs them to spend

posted by odell 1210 days ago in USD, Fundamental, Special made popular 1210 days ago

mericans are hunkering down and saving more. For a recession-battered economy, it couldn't be happening at a worse time. Economists call it the "paradox of thrift." What's good for individuals — spending less, saving more — is bad for the economy

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Fed takes major step toward stalling foreclosures

posted by odell 1215 days ago in USD, Housing made popular 1215 days ago

The Federal Reserve on Tuesday took a step toward easing mortgage foreclosures threatening millions of Americans, announcing that it would write down troubled mortgages to keep people in their homes.

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China and the U.S. Play Chicken: Currency Manipulation

posted by odell 1215 days ago in USD, Weekly made popular 1215 days ago

"China is manipulating its currency," proclaims incoming Treasury Secretary Geithner. Talking about "manipulation"...

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US retail sales forecast to fall in 2009

posted by odell 1216 days ago in USD, Fundamental, Retail Sales made popular 1216 days ago

Retailers are expected to record a 0.5 percent drop in revenue in 2009, the first annual decline in three decades and perhaps much longer, according to a National Retail Federation forecast released Tuesday.

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Job-killing recession racks up more layoff victims

posted by odell 1216 days ago in USD, Employment

The recession is killing jobs at an alarming pace, with tens of thousands of new layoffs announced Monday by some of the biggest names in American business -- Pfizer, Caterpillar and Home Depot.

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Japan's central bank keeps key rate unchanged

posted by odell 1221 days ago in JPY, Fundamental, Inflation made popular 1221 days ago

Japan's central bank kept its already super-low interest rate on hold Thursday but sharply downgraded its outlook for the world's second-largest economy amid an ever-deepening recession.

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US Dollar Bounces Back As World Economy Slows

posted by odell 1221 days ago in USD, Special

With a rapidly worsening European economy, a boost from the Barack Obama presidency and a craving for safety with at least some return, the dollar is riding a new wave of enthusiam among investors.

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U.S. stimulus not enough, TARP bailout misused: Soros

posted by odell 1223 days ago in USD, Special, GDP made popular 1222 days ago

The stimulus plan the U.S. government is currently considering is necessary to help American citizens, but it will likely not reverse the country's economic decline, hedge fund manager and billionaire philanthropist George Soros says.

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German investor confidence improving

posted by odell 1223 days ago in EUR

A closely watched survey shows German investor confidence improved in January after the government put together a new economic stimulus package.

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British inflation falls to lowest since April 2008

posted by odell 1223 days ago in GBP, Fundamental, Inflation

Britain's annual inflation rate dropped in December to its lowest since April 2008 amid falling gas prices at the pumps and lower sales taxes in the pre-Christmas trading period, official figures showed Tuesday.

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German economy could shrink by 2.5 percent

posted by odell 1224 days ago in EUR, Fundamental, GDP made popular 1224 days ago

The German economy, Europe's biggest, could shrink by as much as 2.5 percent this year, the country's economy minister was quoted as saying Saturday.

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Obama offers hope for struggling economy

posted by odell 1224 days ago in USD, Sentiment, Consumer made popular 1224 days ago

As the US economy faces its worst crisis since the Great Depression, the change at the White House ushering in Barack Obama may provide a much-needed psychological lift to sentiment, analysts say.

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