Category Archives: Economic Depression

Fed Weighs Cutting Interest on Banks’ Reserves After ECB Move

“They are at the end of their rope and are probably searching for every last option for what they can do,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York  and a former economist for … Continue reading

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Selling State Treasures to Run the State

With their treasuries empty and their finances in the worst condition that any politician alive can remember, European states are selling their state treasures to enable them to run the state. Yet no one really understands the how long and … Continue reading

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Census: 1 In 2 Americans Is Poor Or Low-Income

Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income. The latest census data depict a middle class … Continue reading

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Bernanke Models Tested as Forecasts Fail

Of 12 Fed staff forecasts since the beginning of 2010, seven have been downward revisions to the near-term outlook, according to minutes of Federal Open Market Committee meetings. This year, the outlook was raised in January and lowered three times … Continue reading

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Derivatives Cloud the Possible Fallout From a Greek Default

Asked about derivatives tied to Europe at a Wednesday press conference, Ben S. Bernanke, the chairman of the Federal Reserve, said that the direct exposure is small but that “a disorderly default in one of those countries would no doubt … Continue reading

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Forty-eight percent say that another Great Depression is likely to occur in the next year

In a recent CNN poll, forty-eight percent say that another Great Depression is likely to occur in the next year – the highest that figure has ever reached. “The poll reminded respondents that during the Depression in the 1930s, roughly one … Continue reading

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