Prepare to hunker down until around 2014, when things might begin to really improve, assuming we haven’t been obliterated by a sun spot or whisked away by a pre-trib rapture. The U.S. economy shed more jobs than expected in July while the unemployment rate held steady at 9.5%, a further sign the economic recovery may [...]
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Case files piling up by the thousands, phones ringing off the hook, forced midweek courthouse closings and occasional brawls as frustrated citizens queue for hours to pay parking fines.
“People think we’re becoming a Third World country,” said Ms. Sims, 55. “They don’t understand.”
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“We are on the verge of system failure,” warned Jean Ross, [...]
Stock markets in Dubai were down this morning as investors reacted nervously to the latest proposed solution to Dubai World’s $22 billion (£14 billion) debt crisis.
The city’s main index, the Dubai Financial Market fell 0.83 per cent in early trading as it emerged that the troubled state-owned conglomerate plans to offer its creditors just 60 per [...]
A majority of companies in the Standard & Poor’s 500 stock index increased cash to a combined $1.19 trillion while simultaneously reducing spending, keeping a jobs recovery on hold.
Caterpillar Inc., Eaton Corp., Walgreen Co. and General Electric Co. are among 260 companies that ended last quarter with $522 billion more than a year earlier after cutting [...]
We’ve been waiting on this one for a while now…
Over the next several years, failed commercial real estate loans could litter American cities with empty stores and office complexes, cause hundreds of bank failures and weaken the economy, a watchdog report says.
Banks face up to $300 billion in losses on loans made for commercial property and [...]
