A Brief Glance of Headlines for February 08 2009
Grim results predicted for UBS, Credit Suisse
This also is another bad sign as these are big overseas financial firms with ties to US firms.
All this is a giant shell game being played with toilet paper (fiat currencys), notice how when you plug one leak, another springs up somewhere else.
The Titanic is sinking...the Engineers are running to and fro plugging evermore leaks, the Band is playing and the Senior Staff are rearranging the
Feb. 7 (Bloomberg)
Job losses in the last 13 months totaled 3.6 million, the most since 1945, the government said last week. Job losses have fueled record foreclosures.
There were 2.22 million new foreclosures in 2008, an average of 6,090 a day, according to Washington-based Hope Now Alliance.
Retail Sales Probably Slumped in January: U.S. Economy Preview
White House: Stimulus Battle Not Over
Stimulus will lead to 'disaster,' Republican warns
Stimulus Battle May Signal Tough Sell for Bank Rescue (Update1)
Bank Rescues Raise Threat of Financial Protectionism, Yam Says
Fed’s Yellen Says Bad-Asset Removal Is Needed to Revive Banks
The economy is “severely depressed,” and the U.S. faces “horrific” deficits over the long term, Yellen said in response to audience
“We are not in a depression,” she told reporters after the speech, noting that unemployment hasn’t risen to levels associated with the term.
“Where we are now and where most forecasters expect the economy to go would not qualify this episode as a depression,” she said. “But I think we
do have the same type of dynamics taking place that do happen in a depression.”
IMHO the only thing Differentiating this "Recession" from a "Depression" is the Unemployment numbers they've cooked up. If 25% of 123 Million in
1930's were Unemployed Vs 7.6%-17% (Depends who you consider Uncounted/Under/Un Employed) of 330 Million today that equates to 30.75 Million back
then to 25.8-56.1 Million today...makes ya think?
Geithner Delays Bank-Rescue Speech to Keep Focus on Stimulus
Merkel, Sarkozy Seek EU-Wide Plan to Combat Crisis (Update1)
EU Pressured by Banks for East Europe Financial Aid (Update2)
Fed Assets Shrink to $1.85 Trillion as Currency Swaps Decline
Now this is something to really watch! How is the Fed going to put $1.5 Trillion into the Financial Sector with a Balance Sheet like that?
Feb. 5 (Bloomberg)
The Fed said the M2 money supply rose by $19.8 billion in the week ended Jan. 26. That left M2 growing at an annual rate of 9.3 percent for the past
52 weeks, above the target of 5 percent the Fed once set for maximum growth. The Fed no longer has a formal target.
The central bank reports two measures of the money supply each week. M1 includes all currency held by consumers and companies for spending, money held
in checking accounts and travelers checks. M2, the more widely followed, adds savings and private holdings in money market mutual funds.
During the latest reporting week, M1 fell by $1.5 billion. Over the past 52 weeks, M1 rose 14.5 percent. The Fed no longer publishes figures for
Fed Steps Back From February Plan to Start TALF Loans (Update1)
Japan December current account surplus drops 92.1% on-year
BOJ Should Channel Cash to Companies, Government Economist Says
China’s Exports May Fall by Most in Decade as Demand Dries Up
China Trade Collapse Weakens Taiwan Dollar, Ringgit (Update1)
Norway Will Set Up Funds Worth $14.8 Billion to Unlock Lending
[edit on 2/8/2009 by Hx3_1963]