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Survey finds older Americans cutting spending

posted by odell 1236 days ago in USD, Retail Sales, Consumer made popular 1236 days ago

Older Americans are spending less on entertainment and restaurant meals as the recession forces them to focus on paying for essentials such as food, gas and medicine, a survey released on Tuesday said.

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Home sales tumble to 7-year low

posted by odell 1236 days ago in USD, Fundamental, Housing

Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.

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Economists see jobless surge, deeper housing hole

posted by odell 1237 days ago in USD, Fundamental, Employment

The worst financial crisis in more than a half century is going to get even worse, putting further pressure on U.S. home prices and driving the unemployment rate above 11 percent, according to two prominent academic economists

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Gold may shine again in 2009

posted by odell 1238 days ago in Special, Gold made popular 1237 days ago

Huge government deficits, low interest rates and rapidly growing money supply all add to the likelihood of renewed inflation - and a rising gold price. How high? Very.

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Fed has abandoned monetary policy, critic says

posted by odell 1238 days ago in USD, Special, Inflation made popular 1238 days ago

The Federal Reserve has embarked on a campaign of unsupervised industrial policy to end the country's financial crisis, a move that could undermine its independence, a former top U.S. official said on Saturday.

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Is the Euro the New Dollar?

posted by odell 1241 days ago in EUR, Special made popular 1241 days ago

Europe's single currency has come of age early. The euro turns ten on Jan. 1, a milestone for one of the most powerful symbols of European identity. It has already endured a rite of passage over the past few months, as the global financial crisis

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Euro currency turns 10; seen as fulfilling promise

posted by odell 1245 days ago in EUR, Special made popular 1245 days ago

As the anniversary approaches of the Jan. 1, 1999, arrival of the euro, economists say the new currency is finally fulfilling its promise as a way to lower borrowing costs, ease trade and tourism, boost growth and strengthen the European communit

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Holiday Sales in U.S. Fell as Much as 4%

posted by odell 1248 days ago in USD, Fundamental, Retail Sales made popular 1247 days ago

U.S. retail sales fell as much as 4 percent this holiday season as consumers limited purchases to necessities and cut back on clothing, electronics and jewelry, according to SpendingPulse.

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US Retail Sales Plummet

posted by odell 1248 days ago in USD, Special, Retail Sales made popular 1248 days ago

Price-slashing failed to rescue a bleak holiday season for beleaguered retailers, as sales plunged across most categories on shrinking consumer spending, according to new data released Thursday.

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Fed ready to slash key interest rate

posted by odell 1259 days ago in USD, Special, Inflation made popular 1259 days ago

With the country spiraling deeper into recession, the Federal Reserve is ready to slash its key interest rate -- perhaps to an all-time low-- in hopes of cushioning some of the economic fallout felt by many struggling Americans.

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US recession seen worsening, deflation a risk

posted by odell 1262 days ago in USD, Special, GDP made popular 1262 days ago

The "nasty" U.S. recession will tighten its grip next year as unemployment rises and weak home and stock prices imperil consumers, finance firms and debt-laden businesses, a UCLA Anderson Forecast report released on Thursday said.

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US trade deficit rises unexpectedly in October

posted by odell 1262 days ago in USD, Fundamental, Trade made popular 1262 days ago

America's trade deficit rose unexpectedly in October as a spreading global recession dampened sales of U.S. products overseas and the volume of oil imports surged by a record amount. The deficit with China jumped to an all-time high.

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