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China: Macro Risks

BEIJING, CHINA – Despite the global recession, China’s economy grew 8.7 percent in 2009, and the growth momentum continued in the first months of 2010, according to the World Bank’s latest China Quarterly Update released today.
The Update, a regular assessment of China’s economy, finds that massive investment-led stimulus was key in driving the economy last [...]

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GDP for the Fourth Quarter of 2009

Statement by Chair of the Council of Economic Advisers Christina Romer on the Advance Estimate of GDP for the Fourth Quarter of 2009
The latest GDP report is the most positive news to date on the economy. The data show that the total output of the U.S. economy increased strongly in the fourth quarter [...]

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Treasury Department Lifts Fannie / Freddie Cap

The Treasury Department has lifted the $400 billion financial “aid” cap that had limited the bailout of Fannie Mae and Freddie Mac.

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Do the banks before they do you

Underwater on the mortgage ? Walk away ! Of course the banks are furious at the suggestion that their debt slaves follow their own practices.
” Norms governing homeowner behavior stand in sharp contrast to norms governing lenders, who seek to maximize profits or minimize losses irrespective of concerns of morality or social responsibility. This [...]

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Money Pit in Sand

Built on slave labor and borrowed money, an extravaganza of opulence and misery is set to echo Shelley’s “Ozymandias.” Now all the money is gone, the slaves flee, and kleptocrat rulers fight usurious moneylenders in a background of half built dreams and pooling sewage.
Couldn’t have happened to a nicer buncha thieves.
Soon, as [...]

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Consumer Expenditures

Average annual expenditures per consumer unit(1) rose 1.7 percent in 2008 following an increase of 2.6 percent in 2007, according to results from the Consumer Expenditure Survey (CE) released by the Bureau of Labor Statistics of the U.S. Department of Labor. The spending increase was less than the 3.8-percent increase in prices from 2007 to [...]

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Bernanke To Stay On As Fed Chairman

Statement by Chairman Ben S. Bernanke:
Thank you, Mr. President.
I would like to express my gratitude to President Obama for the confidence he has shown in me with this nomination and for his unwavering support for a strong and independent Federal Reserve.
It has been a particular privilege for me to serve with extraordinary colleagues throughout the [...]

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Fed Sees Economy Leveling Out

Washington, DC — Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Conditions in financial markets have improved further in recent weeks. Household spending has continued to show signs of stabilizing but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight [...]

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World Economic Outlook Update

by The International Monetary Fund (IMF)
World growth is projected to fall to ½ percent in 2009, its lowest rate since World War II. Despite wide-ranging policy actions, financial strains remain acute, pulling down the real economy. A sustained economic recovery will not be possible until the financial sector’s functionality is restored and credit markets are [...]

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The State Of Advertising

If you search for “NASCAR sponsorship problems” at Google, there are over half-a-million results. NASCAR has seen a huge decline in advertisers. So much so, that entire race teams have been laid-off. It’s not just racing that is being hurt in this economic downturn. Most professional sports, such as the [...]

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