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U.S. personal incomes rose 0.2% in September and consumer spending fell 0.3%. U.S. employment cost index rose 0.7% in the third quarter. YoY...

U.S . GDP shrank 0.3% in the third quarter. U.S. jobless claims were unchanged last week. China lowered interest rates from 6.93% to 6.66...

World will struggle to meet oil demand Without extra investment to raise production, the natural annual rate of output decline is 9.1 per c...

The U.S. Fed cut the federal funds rate from 1.50% to 1.00%, and the discount rate from 1.75% to 1.25%. U.S. durable goods orders rose 0.8%...

The U.S. Standard & Poor's/Case-Shiller index of home prices in 20 cities fell 1.0% in August and 16.6% YoY. YoY prices fell more th...

Sales of ships for scrap being 'suffocated' "All the issues that will help the recovery are probably coming faster than people...

IMF may need to "print money" as crisis spreads "The IMF can in theory create liquidity like a central bank," said an in...

Forecasters Race to Call the Bottom to the Market Even in normal times, forecasters have a strong incentive to make extreme predictions, wh...

U.S. new home sales were at an annual rate of 464,000 in September, up 2.7% MoM and down 36% YoY. South Korea cut its interest rate from 5.0...

Farm-Credit Squeeze May Cut Crops, Spur Food Crisis (Update1) (Bloomberg) -- The credit crunch is compounding a profit squeeze for farmers t...

Europe on the brink of currency crisis meltdown Experts fear the mayhem may soon trigger a chain reaction within the eurozone itself. The ri...

The National Association of Realtors said existing home sales were at an annual rate of 5.18 million units, up 5.5% in September. U.K. ...

Tough to believe Greenspan's disbelief .."those of us who have looked to the self-interest of lending institutions to protect shar...

GLG's Roman, NYU's Roubini Predict Hedge Fund Failures, Panic Nouriel Roubini, the New York University Professor who spoke at the s...

U.S. jobless claims were up 15,000 last week to 478,000, more than expected. New Zealand cut its interest rate from 7.5% to 6.5% Sweden cu...

Greenspan Urges Tighter Regulation After `Breakdown' (Update1) (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan called for...

Credit-Rating Companies `Sold Our Soul' for Pay, Employees Said (Bloomberg) -- Employees at Moody's Investors Service told executive...

Canada ’s retail sales fell 0.3%. Excluding autos, retail sales rose 0.4% Canada’s index of leading indicators fell 0.2% in September Austra...

Don't make a drama out of this financial crisis The scale of what has happened is breath-taking. The oil price has halved since July. Wh...

Spreading the wealth And there is a lot of spreading potential: income distribution in America is the widest of the 30 countries of the OEC...

The Chicago Federal Reserve's index of national activity fell from -1.81 to -2.57 in September. Canada reduced its interest rate from 2...

The United States, Europe and Bretton Woods II The Europeans are not looking to challenge the reality of American power, they are looking t...

Coffee and chocolate are the key to long life Chocolate, coffee and tea are among the key foods and drinks needed to live a long and healthy...

Bernanke endorsed a new economic stimulus package -- Bush is open to the idea. YoY China 's economy expanded at 9% in the third quarter...

Lahde Quits Hedge Funds, Thanks `Idiots' for Success (Update1) ``I was in this game for money,'' Lahde, 37, wrote in a two-page...

Warren Buffett said “bad news is an investor's best friend” – he’s buying U.S. stocks. U.S. housing starts were at an annual rate of 81...

U.S . consumer price index unchanged in September -- up 4.9 YoY. Excluding food and energy prices rose 0.1% -- up 2.5% YoY. U.S . industri...

U.S. stocks dropped the most since the crash of 1987, fed by bleak economic data. Japan pledged unlimited supply of dollars to lenders. ...

Bloomberg (October 14, 2008) Roubini Sees Worst Recession in 40 Years, Rally's End (click for video):

Europe stuns with €1.5 trillion bank rescue, as France plays role of saviour Germany, France, Italy, Spain, Holland and Austria have joined...

Bush said the government is taking a $250 billion stake in the nation's top financial institutions as part of its latest plan to tackle ...

Paulson's statement on actions to protect the US economy Today I am announcing that the Treasury will purchase equity stakes in a wide ...

This Is What Denial Does But one of the benefits of modernity is our ability to spot trends and predict results. If fish in a depleted ecos...

The U.S. government is closed for Columbus Day. The Dow Industrials rose 936.42 points -- 11%, as global plans to rescue banks through capi...

A light at the end of the tunnel? ..At first blush—and in contrast to previous failures after half-hearted efforts—the new plans seem to be...

European Leaders Vow Bank Guarantees, Bid to Stop Financial Rot The key measures announced today are: a pledge to guarantee new bank debt is...

Lehman Brothers demise triggers huge default An auction of Lehman’s bonds yesterday determined that the bank’s borrowings were worth only 8....

Paulson Says Will Buy Bank Equity `Soon as We Can' (Update2) (Bloomberg) -- U.S. Treasury Secretary Henry Paulson said the U.S. will buy...

G-7 Commit to `All Necessary Steps' to Stem Crisis (Update2) ``The current situation calls for urgent and exceptional action,'' ...

All hands on deck! Officials from G-7 /G-8 meet to conside ways to stem the panic. (Bloomberg) -- The Federal Reserve Bank of New York plans...

U.S. wholesale sales fell 1.0% in August -- inventories rose 0.8%. U.S. jobless claims fell 20,000 last week to 478,000. Australia 's ...

Financial Crisis: Who is going to bail out the euro? The US has guaranteed the $3.5 trillion money market funds. It has nationalised the $5...

Attacking Cancer Stem Cells A team of researchers at Harvard Medical School has now developed a new way to find drugs that selectively kill ...

The U.S. Fed lowered rates from 2.00% to 1.50%. The ECB , Bank of England , Bank of Canada and Sweden each cut their benchmark rates by ha...

ECB sees crisis of "enormous proportions" as Spain creates mortgage rescue fund The result is a mish-mash of policies that have er...

In its efforts to stem the financial crisis, the Federal Reserve and Treasury created a new lending facility to help backstop the commercial...

Germanys Merkel announced that all private deposits in German banks would from now on be guaranteed. The USDA said: 14% of the corn crop w...

A lighter view of the Sub Prime Crisis

Germany takes hot seat as Europe falls into the abyss Drastic rate cuts would be a good start. Central bankers still paralysed by a misplace...

U.S. Payrolls fell by 159,000, the biggest job loss in over five years. U.S. Jobless rate remained at 6.1%. Institute of Supply Managemen...