@ October 30, 2008 # No Comment Yet
The U.S. economy is suffering its largest contraction in seven years as consumers have pulled back on spending and have reduced business investment. The United States Commerce Department described the third quarter as the largest consumer pullback since 1980, with a 0.3 % U.S. gross domestic product shrink.
SOURCE
@ October 27, 2008 # No Comment Yet
Nouriel Roubini, a NYU economics professor, has earned the right to tell the world “I told you so.” Roubini, nicknamed “Dr. Doom” by those stupid enough to dismiss his economic predictions, foresaw the current economic situation, including the specific events that have led us here, with chilling accuracy. And he says it’s not over yet.
Roubini [...]
@ October 11, 2008 # No Comment Yet
The head of the International Monetary Fund (”IMF”), Dominique Strauss-Kahn, thinks we are on the brink of a global financial meltdown as prices crashed more than 20 percent last week and steps taken so far have not stabilized the markets. The IMF also prediced that shares could fall another 20 percent in the next few [...]