Wednesday, December 10, 2008
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.”