Wednesday, January 9, 2008

Today's Global Economic News

Recession In The US 'Has Arrived'

By The BBC

The feared recession in the US economy has already arrived, according to a report from Merrill Lynch.

Bush Convenes Plunge Protection Team

By Ambrose Evans-Pritchard, International Business Editor

Bears beware. The New Deal of 2008 is in the works. The US Treasury is about to shower households with rebate cheques to head off a full-blown slump, and save the Bush presidency. On Friday, Mr Bush convened the so-called Plunge Protection Team for its first known meeting in the Oval Office.

No Jobs for the New Economy or the Old

By Paul Craig Roberts

If December is a harbinger of the new year, it is going to be a bad one. The past year, hailed by Republican propagandists and "free trade" economists as proof of globalism's benefit to Americans, was dismal.


The Economic Strategy of American Empire.

Interview with financial economist and historian, Dr. Michael Hudson.

Bad news piles up for British economy:

The bad news on the British economy piled up further Monday as one report found that activity in the services industry fell at the end of 2007 and another survey revealed that companies are at their most pessimistic in five years.

Spain sees credit surge brought to rude halt:

José Luis Rodríguez Zapatero, the Spanish prime minister, announced that Spain had joined the "Champions' League" of world economies. Europe's fifth largest economy was growing so robustly, and creating so many jobs, it would soon be richer than Germany in per capita terms, Mr Zapatero predicted. That euphoria was short-lived.

No comments: