dak Picture of the Day: December 2008

Wednesday, December 10, 2008

Even Santa's Job Isn't Safe...

FIRST TIME: Treasury Bills Trade at Negative Rates...

World Bank predicts global gloom: The Bank said a deep global recession could not be ruled out.

UK: The great credit card scandal: Credit card companies are facing an investigation by competition watchdogs after defying government warnings to improve their lending practices.

Sony to cut 8,000 jobs, 4 percent of work force: - Sony Corp. is slashing 4 percent of its worldwide work force, reining in spending and shutting plants as it tries to ride out a looming worldwide recession that is battering Japan's export-reliant manufacturers.

Coming soon to U.S., 1 million jobs lost every month: Report: London-based GFC Economics is making a frightening prediction: By spring 2009, the United States could be facing more than 1 million layoffs every successive month.

Economy bad all over -- even before current crisis: New census data shows that throughout the first half of the decade, the slumping economy touched nearly every community in the country. Incomes dropped while poverty and unemployment rose in the vast majority of the nation's cities and towns.

10 clues: A new bubble is blowing: Bet on Wall Street hyping a recovery, big earnings, new bull in 2009

U.S. to announce rescue for corporate credit unions: Journal: Some major corporate credit unions, whose finances have been hurt by losses on mortgage-backed securities, are the subject of a federal rescue plan to be announced this week, The Wall Street Journal reported

Investors Buy $32 Billion in Treasury Bills with ZERO Yield: . Why would anyone be willing to make an investment in which they are guaranteed to make nothing? The one word answer is “Fear.”

Fannie Faulted For 'Orgy' Of Subprime, Risky Loans

US Economy In Accelerating Freefall

10% US Homeowners In Arrears Or Foreclosure

BIS Warns Of Collapse Of Global Lending

Japan Recession Much Worse Than Predicted

Sony Cuts 16,000 Jobs, Shuts Plants

UK Slowdown Worse Than Forecast

Banks Withdraw Business Overdrafts

90% UK Pension Plans In Red Over $300B

The Great Credit Card Scandal

Tribune Files For Bankruptcy

Budweiser To Cut 1,400 US Jobs