This Is Not A Normal Recession
Moving on to Plan B
By Mike Whitney
The global economy is being sucked into a black hole and most Americans
have no idea why. The whole problem can be narrowed down to two words;
"structured finance".
http://www.informationclearinghouse.info/article21280.htm
===
US seeks 300 billion dlrs from Gulf states: report:
The United States has asked four oil-rich Gulf states for close to 300
billion dollars to help it curb the global financial meltdown, Kuwait's daily
Al-Seyassah reported Thursday.
http://tinyurl.com/63dawb
===
Jobless claims jump unexpectedly to 16-year high:
The four-week average of claims, which smooths out fluctuations, was even
worse: it rose to 506,500, the highest in more than 25 years.
http://www.wtopnews.com/?nid=111&sid=577993
===
GM Tumbles to Lowest Since '30s, Ford Falls as Aid Plan Falters:
General Motors Corp. fell toward its lowest since the 1930s after U.S.
lawmakers deadlocked on an auto-industry bailout, raising the prospect it could
run out of cash before a new Congress can come to the rescue next year. Ford
Motor Co. tumbled to a 28-year low.
http://tinyurl.com/56tgsn
===
Chinese Automakers may buy GM and Chrysler:
Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler,
China's 21st Century Business Herald reports
http://www.agoracosmopolitan.com/home/Frontpage/2008/11/19/02867.html
===
Treasury Yields Drop to Record Lows:
Treasury yields declined to record lows, with two-year notes dropping below
1 percent for the first time, as global stocks slumped and a deepening
recession drove investors to the safest assets.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aucejNR4YWu4&refer=news
more here: http://tinyurl.com/dy6yy
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