Senate candidate walks across Connecticut Nov 20, 2009
" "To do that, you need a draft and a tax increase," he said, adding that Americans have shown they don't want a draft, and in the worst economic crisis since the Great Depression, taxing people is a fool's errand. As for Senator Dodd, a recent Quinnipiac poll showed the Connecticut Senator losing to all Republicans. "If he is the nominee, we (Democrats) lose and, then what, odds are, it's (former Congressman) Rob Simmons or (World Wrestling Entertainment executive) Linda McMahon. They're not... (Fairfield Minuteman, CT)
One in 7 US mortgages foreclosing Nov 20, 2009
Yet record foreclosures will add to the growing supply of unsold homes, sapping the housing market as it attempts to recover from the worst slump since the Great Depression. The MBA said the percentage of loans in foreclosure rose to 1. (India Times)
New N.F. hotel opening soon Nov 20, 2009
The structure opened in 1929, just a few months before the stock market crash of that year and subsequent Great Depression. It was originally built as the corporate home for the United Hotel chain. (Buffalo Business First, NY)
Gomes has overseen plenty of change at San Jose airport Nov 20, 2009
Just maintaining a healthy equilibrium during the worst recession since the Great Depression is tough enough, but Gomes also has been instrumental in expanding the airport s international facilities. Anyone who has flown through SJC or picked up visiting relatives in the past couple of years will have noticed the impressive pace of construction. (San Jose Business Journal, CA)
Weekend Guide: Theater Nov 20, 2009
": *** Bill Daugherty's '40s-era musical about the Great Depression seems all too relevant today. Triad Theater, 158 W. 72nd St.; 212-352-3101. "THE EMPEROR JONES": ***; Superlative revival of Eugene O'Neill's 1920 expressionistic classic. Irish Repertory Theater, 132 W. 22nd St.; 212-727-2737. Closes Nov. 29. "GIRL CRAZY": Ana Gasteyer, Wayne Knight and Marc Kudisch star in this Encores! revival of George and Ira Gershwin's 1930 musical. City Center, 131 W. 55th St.; 212-581-1212. Closes... (New York Post -- Entertainment)
Top Eurobank prepares for 'global economic collapse'... Nov 20, 2009
Even the great depression was not a complete collapse ... I sold our home in a short sale, took other assets and cashed them out, bought physical gold coins and have them hoarded and stashed, just like my Dad did in the Great Depression ... We need your pension to throw beer down teenage throats and pander to unmarried teenage mothers"! Peter A on November 19, 2009 at 06:41 AM Its not about as much (what) is invested in its (who). Laban at least understood this much , the strange works and acts... (The Drudge Report)
Selig: Some baseball teams lost money in 2009 Nov 20, 2009
Selig said final figures for this year are still being calculated and everyone is living in the most difficult economic times since the Great Depression. He declined to identify the teams. (ESPN -- Baseball)
What is deflation? Nov 20, 2009
The last memorable deflation was during the Great Depression ... It is what happened in the Great Depression of the 1930s and in Japan in the 1990s ... The most memorable deflation was during the Great Depression of 1929. (BBC News -- Business)
Harry Truman made critical point in 1960 USU speech Nov 19, 2009
Our country is in the worst financial condition since the Great Depression. Unemployment is at its highest level since 1980. (Logan Herald Journal, UT)
The Conservative Century? Nov 19, 2009
For believers in big government, the Great Depression appeared to prove that markets could not survive without extensive government management. For opponents of the New Deal, Franklin Roosevelt s expansion of federal and presidential powers seemed an American variation of fascism. (The American Conservative)
Tower fights MDHA over land at planned convention center site Nov 19, 2009
"We are baffled by Tower's assertion that the property may be worth significantly more than they paid just two years ago in what is the worst real estate market since the Great Depression," said MDHA Executive Director Phil Ryan said in a news release in response to Tower s press conference. "We want to pay them and all other property owners fair market value, but we will protect the public's interest and will not be bullied into paying more than the property is worth.". (Nashville Business Journal, TN)
Whitney: More Bearish Now Than in A Year Nov 19, 2009
You didnt see this much even in the Great Depression, she says. $1. (Newsmax)
The Worst Isn't Over Nov 19, 2009
5 per cent GDP growth in the third quarter, suggesting that the most severe recession since the Great Depression is over, the American economy is actually much weaker than official data suggest. In fact, official measures of GDP may grossly overstate growth in the economy, as they don't capture the fact that business sentiment among small firms is abysmal and their output is still falling sharply. (The American Conservative)
La Posada Hotel, Winslow Nov 19, 2009
When it opened in 1930, the nation was well into the Great Depression, and the Santa Fe Railway had begun to suffer losses. A railroad official telegrammed the Fred Harvey Co.. (AZCentral -- Travel)
Frost: Laws will protect us from Big Finance Nov 19, 2009
the highest figure since the Great Depression. " Warren says we re living in a world of moral hazard, where the big banks get a government guarantee: if they win, they get rich, but if they don t, the taxpayers will cover their losses. For example, CitiBank has been given a $300 billion tax-backed guarantee, but the real economy (the rest of us middle and working classes) is awash in foreclosures and credit card debt, and even with the Dow over 10,000, we ve still got 10 percent unemployment.... (Lincoln Journal, MA)
Obama predicts renewed US growth in fourth quarter Nov 19, 2009
" Last Thursday, hours before embarking on his first trip to Asia as president, Obama announced a jobs forum would be held at the White House in December to try and tackle the crisis. "This is an inexact science," Obama said of job creation, noting that the huge US economy was hit by its worst crisis since 1933, the depth of the Great Depression. "The first measure of success of economic recovery is did we pull ourselves back from the brink. Have we gotten economic growth going again. (Channelnewsasia.com)
Town Meeting approves Danvers High School $80 million project Nov 19, 2009
Now in a time determined to be the worst economic climate since the Great Depression, he said, the town would have difficulty meeting its regular expenses. Town Meeting member Lou Varardi, too, talked about an elephant or a gorilla in our budget. (Danvers Herald, MA)
Obama warns of 'double-dip recession' Nov 19, 2009
Asked whether the jobs forum should have been held sooner, Obama said the focus after he took office in January was "to make sure we didn't slip into a Great Depression.". "We've gotten that job done," he told Todd. (MSNBC -- Business)
Ukraine famine Nov 19, 2009
America, still recovering from the Great Depression, did not want to listen to the unlikely story of a government, even a Communist one, deliberately starving millions of its own people. Furthermore, many pro-Soviet Western intellectuals at the time, including the writer George Bernard Shaw, were vocal in their admiration of the Soviet Union. (BBC News -- Europe)
Amy Goodman: Who put the rainbow in ‘The Wizard of Oz?' Nov 19, 2009
Thanksgiving is around the corner, and families will be gathering to share a meal and, perhaps, enjoy another annual telecast of The Wizard of Oz. The 70-year-old film classic bears close watching this year, perhaps more than others, for the message woven into the lyrics, written during the Great Depression by Oscar-winning lyricist E.Y. Yip Harburg ... Before long, he wrote the song that captured the essence of the Great Depression, Brother, Can You Spare a Dime. (Auburn Citizen, NY)
Senate, Help Your President -- Deep-Six ObamaCare! Nov 19, 2009
President Franklin D. Roosevelt, during the Great Depression, launched the New Deal -- a blinding array of expansive and expensive government programs designed to "rescue" the economy. Obama, as did FDR, calls this expansion necessary in order to achieve economic recovery. (Townhall.com)
Elizabeth Warren Winning Means Banks Won't Sell When They Can't Explain It Nov 19, 2009
Warren said she probably inherited her populism from her grandparents, who built one-room Indian schools during the Great Depression. While they didnt understand the financial world, they knew President made their money safe by establishing the , she said. (Bloomberg)
Tax credit to steady, not rescue, shaky U.S. housing Nov 19, 2009
The housing credit has pulled many a wary buyer off of the fence, but it is not a fix to the mess of troubles that spawned the deepest housing slump since the Great Depression. This is a slow, tentative recovery, evidenced by the most recent reading of builder sentiment of the National Association of Home Builders. (Yahoo News -- Press Releases)
A century of memories Nov 19, 2009
In the last 100 years, Tadlock has seen two world wars, the popularization of technology and the Great Depression, which he said was much worse than the current economic crisis. During the depression, Mama cut the tail off her coat to make me a coat, Sowery said, adding that the family pedaled pork in Forest to make end's meet. (Forest Scott County Times, MS)
Mukesh Ambani Leads India's Richest as Net Worth Jumps 54%, Forbes Says Nov 19, 2009
Indias benchmark has rallied 76 percent this year, headed for its best annual performance in 18 years, as global stocks rebound on signs the worst recession since the Great Depression is easing. Indian stocks may extend gains in the next three to four years, according to , chairman of Templeton Asset Management Ltd. The number of Indian billionaires rose to 52 from 27 last year, Forbes said. (Bloomberg -- Asia)
Cigar guitar Nov 19, 2009
In a small shop behind his Somerset home, Hauger makes single stringed instruments like those popular during America s great depression, in addition to dulcimers made from leftover paneling and everyday materials. (Video by Roger Vogel). (Somerset Daily American, PA)
Why would LeBron go to New York? Nov 18, 2009
Even if the new arena goes up in the midst of the worst economic slump since the Great Depression, the Nets still have no base to build on. Plus, for the next couple of years, theyre probably going to be playing in Newark in the Prudential Center. (MSNBC -- Sports)
Break Down Sales Growth, Margins, ROE Nov 18, 2009
How close did we come to the Great Depression 2. 0. (Investors Business Daily)
Beulah P. Hagadorn Nov 18, 2009
She and her family, consisting of her parents, Beulah and four siblings, lived in several Michigan communities during her childhood, as her father followed carpenter work throughout the state during the Great Depression. She and her siblings attended several schools throughout the state and Beulah completed the tenth grade. (Gaylord Herald Times, MI)
Labor Group Unveils Plan to Tackle Joblessness Nov 18, 2009
Trumka will take the plan to the White House next month, when he joins business leaders, economists and others for a December 3 brainstorming session on how to tackle joblessness in the weakest economy since the Great Depression. Rising unemployment poses a political danger to Obama as his fellow Democrats in Congress approach the 2010 election with voters increasingly dissatisfied with incumbents. (Newsmax)
Mexico, Colombia Plan Samurai Bond Sale to Tap Funds From Japan Investors Nov 18, 2009
9 percent of gross domestic product in the first half amid the worst global recession since the Great Depression. Samurai bonds, or yen-denominated notes sold by foreign borrowers in Japan, yielded 1. (Bloomberg -- Asia)
Mild praise for Obama Nov 18, 2009
The good news is that Obamanomics pulled the U.S. economy back earlier this year from a financial abyss as serious as that faced in the Great Depression. But the bad news, according to Zanny Minton Beddoes, the economics editor for The Economist, is that we have an economy that is in far from good shape, that, at best, will be freighted by high unemployment and slow growth for two years, maybe longer. (Jacksonville Business Journal, FL)
Geithner says international financial system must be reformed Nov 18, 2009
"After the experiences of the Great Depression and World War II, the United States led in the creation of the international financial system that anchored prosperity and stability for more than 60 years," Geithner said in testimony prepared for the Senate Foreign Relations Committee. "Today, that system must be reformed to address 21st century challenges," he said. (Xinhuanet, China)
READ: Bernanke's speech Nov 17, 2009
However, in the recent downturn, employers were exceptionally uncertain about the future, some even fearing a second Great Depression. Moreover, tight credit conditions left little margin for error. (USA Today -- Money)
Fed Eyes Dollar Drop, but Hews to Low-Rate Pledge Nov 17, 2009
The Fed slashed U.S. overnight rates to near zero in December to support a recovery from the deepest U.S. recession since the Great Depression. "Bernanke just locked the Fed into an easy monetary policy, at least in the short term, so any implicit threat of response to dollar declines simply has zero credibility," said Stephen Stanley, U.S. economist at RBS.. (ABC News -- Wire)
* GM to step up payments to US, Canada Nov 17, 2009
China and the US, with US$409 billion of trade between them, have swapped complaints about steel, poultry and tires as calls to protect jobs intensified during the worst economic crisis since the Great Depression. Also See: This story has been viewed 301 times. (Taipei Times, Taiwan -- World)
Read the 'Cost of Freedom' recap Nov 17, 2009
Maria Cardona: When this president came into office, he inherited a massive deficit and one of the biggest economic meltdowns since the great depression ... We've got the biggest job loss since the great depression. (Fox News)
Roofless Retirement Nov 17, 2009
Norden grew up during the Great Depression and said she feels she's "doing okay," though, like many others who depend on Social Security, she is displeased with the possibility of not receiving a Social Security cost-of-living increase this year. She has been living in low-income housing since the 1980s, when her husband left Juneau and the bank foreclosed on her house, she said. (Juneau Empire)
Palin's populist book tour won't help GOP Nov 17, 2009
Then he was blamed for the Great Depression, which began less than a year after his election. Homeless men called their shantytowns "Hoovervilles.". (Christian Science Monitor)
Paul Krugman: Chinese economy grows at expense of U.S. workers Nov 17, 2009
Cheap money and fiscal stimulus seem to have averted a second Great Depression. But policymakers haven't been able to generate enough spending, public or private, to make progress against mass unemployment. (Sacramento Bee -- Opinion)
Regulators slow real estate recovery, critics say Nov 17, 2009
The industry is suffering its worst downturn since the Great Depression. The market s collapse has punished community banks, which typically hold a higher percentage of commercial real estate loans than other banks. (Charlotte Business Journal, NC)
AP IMPACT: Tobacco execs quickly find tax loophole Nov 17, 2009
It's currently a mess in large part due to the deepest and most pervasive global recession since the Great Depression of the 1930s. WASHINGTON -- With a simple marketing twist, tobacco companies are avoiding hundreds of millions of dollars a year in taxes by exploiting a loophole in President Barack Obama's child health law. (Fresno Bee -- Business)
Sale date dictates sales tax aid Nov 17, 2009
It's currently a mess in large part due to the deepest and most pervasive global recession since the Great Depression of the 1930s. Ways to stay afloat. (Fresno Bee -- Business)
Our views: Sunshine State scams (Nov. 15) Nov 17, 2009
Its a head-in-the-sand approach that ignores the urgent need for new rules to prevent the mortgage and banking system excesses that caused the worst recession since the Great Depression. Brevards representatives in Congress should get strongly behind the toughest possible oversight policies when the House and Senate reconcile the bills for a final package early next year. (Florida Today)
Letters for Monday, November 16, 2009 (1040) Nov 17, 2009
I know you inherited two wars and the worst economy since the Great Depression. We are proud of you in Hawai i; you grew up here and somehow I thought we had a special connection the White House. (Lihue Garden Island, HA)
ET Exclusive: Bad bosses good for economy, says Scott Adams Nov 17, 2009
His comments may pertain to the US and how the worst economic situation since the Great Depression has affected that country, but California resident Adams could well be looking at India and Indians from the same entrepreneurial prism going forward ... Im sure during the Great Depression there probably wasnt anybody who was better off. (India Times)
AfDB: Fourth AEC-Researchers Track Missing Links in Africa's Development Nov 17, 2009
Mr. Kaberuka said the problem of creating employment and stimulating global demand may be dealt with by extending Keynesian policies to African countries in the same way they were extended to Europe during the great depression. He also asked the conference to address the issue of diversification - noting that after fifty years of independence; most African economies were still commodity-dependent. (allAfrica.com)
Amelia: Takes off but doesn't soar Nov 17, 2009
com - Amelia Takes off but doesn't soar. " onclick="Next();" src="/images/butt_next. (Channelnewsasia.com)
Couric, Gov. Palin: The Interviews Nov 17, 2009
NEW YORK, Nov. 16, 2009. On the Eve of the Release of Sarah Palin's Book, "Going Rogue," We Revisit Katie Couric's Interviews with Palin. (CBS News -- Evening News)
Too early for Victory over Recession Day Nov 17, 2009
At that time, all Britain had to look forward to was blood, sweat and tears: more than 3 million unemployed by the end of the year, a fresh round of bank collapses, the start of a second Great Depression. But cash for clunkers has brought forward spending on cars; lower interest rates have led to a sharp reduction in monthly mortgage repayments; government pressure on mortgage lenders is helping to put a cap on home repossessions. (Sydney Morning Herald -- Business)
Hefner to sell Playboy Enterprises for $300m Nov 16, 2009
Hefner has said that growing up during the Great Depression he always looked back wistfully to the 1920s age of flappers as an era of freedom he had missed. He has described himself as having liberated America from its Puritan past and experts agree he made sexual images and content more acceptable to Americans. (Business Report, South Africa)
3 banks prepared to pay record $29.7B in bonuses Nov 16, 2009
NEW YORK Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase survivors of the worst financial crisis since the Great Depression, are set to pay record bonuses this year. As the three biggest banks to exit the U.S. government's Troubled Asset Relief Program, none are required to limit compensation. (Honolulu Advertiser)
Containing China is bad, weird advice Nov 16, 2009
China hopes the United States can quickly exit from the serious economic slowdown since the Great Depression, and regain its pace of sizzling growth. President Obama, during his four-day stay in China, will have a town-hall meeting with Shanghai university students, tour the Forbidden City and take a trek on the centuries-old Great Wall. (People's Daily Online, China)
Reform push must continue Nov 16, 2009
In 1933, from lessons learnt during the Great Depression, the Glass-Steagall Act, which was adopted by the US Congress, disallowed commercial banks from combining their commercial banking activities with other financial operations such as investment banking and insurance. This protected depositors and also prevented the financial sector from assuming too much risk. (The Star Online, Malaysia)
Answer Desk: Who needs overpaid bankers? Nov 16, 2009
Even after the worst financial downturn since the Great Depression, there are enough of these folks to fill several large country clubs. But taxpayers have provided the big pile of money being shuffled around, so readers seem to think it is reasonable to apply a different set of rules. (MSNBC -- Business)
Daytona music fest's champion now crusades for city Nov 16, 2009
And, oh yeah, do it without the festival's founder and principal benefactor -- News-Journal Corp. president and chief executive officer Tippen Davidson, who died in 2007 -- and in the worst economy since the Great Depression. "It was do-or-die," Bornia said. (Daytona Beach News Journal)
China, Japan Policymakers Say Fed's Low-Rate Policy May Fuel Asset Bubbles Nov 16, 2009
Bernanke, a scholar of the Great Depression, has overseen a record injection of liquidity into the worlds largest economy, pledging not to make the mistake of the 1930s, when officials tightened policy. U.S. Treasury Secretary reiterated his commitment to a strong currency on a trip to Asia last week. (Bloomberg -- Asia)
State's trade exports trending upward Nov 16, 2009
California now is mired in its worst recession since the Great Depression, and international trade has been seriously damaged. China industrial output,retail sales up in October. (Fresno Bee -- Business)
Obama to Push Arms Control With Moscow Nov 15, 2009
From day one, he worked hard to prevent this country into great depression. Republicans just shut up. (CBS News)
China's Liu Says U.S. Interest Rates, Dollar Decline Causing Speculation Nov 15, 2009
Fed Chairman , a scholar of the Great Depression, has overseen a record injection of liquidity into the worlds largest economy, pledging not to make the mistake of the 1930s, when officials tightened policy. The dollars devaluation has the biggest influence on China among emerging market economies, China Construction Banks Zhao said. (Bloomberg -- Asia)
Survey shows spike in 1st-time homebuyers Nov 15, 2009
Home prices are expected to grow modestly next year and sales will keep rising as the housing market continues to recover from the worst downturn since the Great Depression, the National Association of Realtors said Friday. Home resales are projected to total 5. (Fresno Bee -- Business)
Some, but not all, cheer Dodd's consumer proposals Nov 15, 2009
A key Senate committee chairman unveiled a sweeping 1,136-page bill Tuesday that, if enacted, would mandate the most comprehensive overhaul of financial regulation since the Great Depression ... The largest rewrite of financial regulation since the Great Depression will clear the House of Representatives during the first week of December, the influential lawmaker shepherding the legislation promised Tuesday. (Fresno Bee -- Local)
Experts argue against financial safety net Nov 15, 2009
Hetzel and Silvinski argue that before federal deposit insurance was created in the wake of the Great Depression, market discipline provided an effective system to insulate the financial system from individual bank failures. "Moreover, the failures that did occur resulted not from 'panics' but rather from well-founded withdrawals from banks whose assets suffered declines in value because of aggregate disturbances," the report said. (Daytona Beach News Journal -- Local)
Blame government, not capitalism Nov 15, 2009
That was the start of the Great Depression. Today, our financial situation is not a heck a lot better than it was then. (Casper Star-Tribune, WY)
A healthy balance Nov 15, 2009
And yet, despite the challenges of rural medicine, the medical center emerged profitable during a time experts called the worst economic downturn since the Great Depression. Surviving on a medical island isn t easy. (Klamath Falls Herald & News, OR)
