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RECESSION

The Vine

Housing Market Quickly Imploding

Source: Reuters

The pace of existing home sales in the United States fell a sharper-than-expected 4.1 percent in July to their lowest level since January 2004 as the downturn in the U.S. housing sector accelerated, the National Association of Realtors said on Wednesday.

Investment outlook by rich investers at all-time low

Source: Market Watch

The investment outlook by affluent investors, those with $100,000 or more in financial assets, is at an all-time low, according to Smith Barney.

Fed sees 40% chance of recession in next 12 months

Source: Observer - Guardian

The United States faces almost a 40 per cent chance of slipping into recession in the next 12 months, according to the Federal Reserve's own market model.

Job Growth Slackened Last Month

Source: New York Times

Republican Party spin: If we simply keep repeating "the economy is great," and "we're adding a lot of new jobs," and "unemployment is down," and "it's all Clinton's fault," people will believe us, right? From the article: Employers added jobs in July at a slow pace for the fo …

The Fragility of the Good Life

Source: realclearpolitics.com

From the article: As we near the fifth anniversary of Sept. 11, most have forgotten the dangers of a terrorist attack.

Funny Money, Buy Gold: Why the Rich Get Richer

Source: finance.yahoo.com

Funny Money, Buy Gold: Why the Rich Get Richer by Robert Kiyosaki Gold recently dropped more than $100, or 14 percent, after hitting a 26-year high of $730 in mid-May. With that drop in price, I became a buyer of gold once again.

Wall Street: desperately seeking relief

Source: money.cnn.com

NEW YORK (CNNMoney.com) -- Record oil prices. Escalating violence in the Mideast. The nail-biter over interest rates. A consumer trying to hang in despite a slowing economy. Who needs summer action movies? Wall Street's been serving up more drama than most investors crave.

The New American Cold War

Source: thenation.com

"As a result of the Soviet breakup in 1991, Russia, a state bearing every nuclear and other device of mass destruction, virtually collapsed. During the 1990s its essential infrastructures--political, economic and social--disintegrated.

World Cup fans fail to lift local sex industry

Source: washingtonpost.com

The hordes of beer-swilling men who have descended on Germany for the World Cup are proving a disappointment for the host nation's sex workers, preferring to party in public rather than spend time with prostitutes. This is what's wrong with sports...

Asia Times Online :: Asian news and current affairs - America's untested management team

Source: atimes.com

Excerpt : Paulson is a banker. Bankers are interested in the state of the market, not the economy per se.

Why stock market pros are selling

Source: MSN Money

Why stock-market pros are selling Have the pros panicked?

US Federal Reserve is Spooking Global Investors

Source: money.cnn.com

Ben Bernanke isn't just scaring U.S. investors anymore. He's scaring investors around the world.

Requiem for the Faith-based Greenback by Mike Whitney

Source: informationclearinghouse.info

'A perfect (economic) storm is developing...'

The Record on Tax Cuts

Source: opinionjournal.com

From the article: Over the past 40 years, the U.S. has had three great experiments in tax-cutting, and each one has worked even better than advertised: The Kennedy tax cuts of the 1960s, the Reagan cuts of 1981, and now the Bush tax cuts of 2003.

Markets braced for the worst - is recession around the corner?

Source: telegraph.co.uk

Asia Pacific markets have opened sharply lower on the back of a painful Friday on Wall Street and in Europe.

Crumbling Under Debt

Source: AlterNet.org

Americans are relying on borrowed money to maintain our standard of living. A major crash is coming unless we take action now.

Europe: Economic facts of life

Source: International Herald Tribune

Europe's economies are in the doldrums - for all the brave talk of new policies to promote industrial innovation, unemployment remains persistently high, and the weak growth rates of recent years are threatening to stall and plunge Europe into recession.

A Dark Year Lies Ahead

Source: Forbes

Global recession and deflation is likely in the year ahead. This Forbes article is a summary of Gary Shilling's January INSIGHT newsletter.

AlterNet: Prosperity in George Bush's Economy

Source: alternet.org

The corporations, which own the media, keep telling us how great the economy is. And it IS great -- if you are a corporation. For the rest of us... not so great.

5 smart bets for the housing slump

Source: MSN Money

5 smart bets for the housing slump