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Commercial Real Estate Time Bomb Goes Off But No One Notices
The Commercial Real Estate Time Bomb has gone off but it has been lost in the euphoria of economic cheerleading and bottom calls based on dubious (at best) earnings reports from banks. Here are a few headline items from the past week or so to consider.
Originally posted by Hx3_1963
Great...just what the USSA needs...
Biden announces new position "intellectual property czar"
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World economy in severe recession, IMF says
WASHINGTON (Reuters) - The International Monetary Fund said on Wednesday the world economy has fallen into a severe recession, cutting its forecast for global growth and calling for forceful action to spur a recovery.
In its latest World Economic Outlook, the IMF said the global economy would likely contract 1.3 percent this year in the deepest post-World War Two recession by far.
Growth is set to re-emerge to around 1.9 percent next year, a pace more sluggish than average recoveries because of lingering strains in the financial sector, it added.
The United Steelworkers union represents 15,000 tire workers at 13 plants nationwide.
Officials with the United Steelworkers union have filed official grievances with the Obama administration, urging the president to enact tariff barriers against future imports of Chinese-made tires. The union is merely asking that the administration cap imports of Chinese tires at their 2005 level of 21 million annual units – less than half of the 2008 total of 46 million units valued at $1.7 billion.