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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: recession

recession stories: 854 news summaries

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(Newser) - November’s retail sales confounded doomsayers, surging 1.2%, twice the 0.6% analysts predicted, Bloomberg reports. Many had worried that consumer spending would take a hit as gas rose and housing fell, but now it looks like job and income growth could cushion the fall. “The numbers should... More »

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Ben Bernanke • retail • Federal Reserve • recession • consumer spending • US economy • retail sales

Morgan Stanley Warns of Recession

Housing slump, cost of borrowing could lead to 'perfect storm' in US economy

Dec 12, 07 6:11 PM CST
(Newser) - Morgan Stanley is warning that the US is headed to a recession, the Telegraph writes, indicating today that factors such as the continued housing slump and high cost of borrowing will lead to decreased demand and a “perfect storm” for consumers. A partial freeze on subprime mortgages and expected... More »

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housing market • Morgan Stanley • recession • US economy

Fed to Inject $64B Into Global Money Markets

Will lend $24B to European and other central banks, $40B in four auctions, to ease credit crisis

Dec 12, 07 10:02 AM CST
(Newser) - The Federal Reserve will inject some $64 billion into the global economy, fearing that the ongoing credit crunch could spark recession. In the most significant international economic cooperation since 9/11, the Fed will supply up to $24 billion to the ECB and other central banks to ease the money supply... More »

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Federal Reserve • auction • recession • European Central Bank • liquidity

Economists
See Rising Risk
of Recession

Nearly all in survey say Fed must take strong action, cut rates

Dec 11, 07 6:59 AM CST
(Newser) - Economists are painting a bleak picture of the US economy next year, with the housing mess, reduced job growth, and rising unemployment putting the likelihood of recession at its highest level in three years, the Wall Street Journal reports. Nearly all the economists surveyed by the paper said the Fed... More »

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Federal Reserve • recession • US economy

Dems Pitch Own Mortgage Plans

They say Bush's freeze falls short

Dec 6, 07 2:56 AM CST
(Newser) - Democratic candidates are criticizing President Bush's plan to bail out homeowners in the subprime mess for not going far enough and have outlined their own, more ambitious, proposals, the New York Times reports. "It appears that the president is pushing a freeze for a very narrow group of borrowers,... More »

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Hillary Clinton • John Edwards • subprime mortgages • foreclosure • recession • US economy • moratorium • mortgage rate freeze • fixed rate conversion • borrowers

In '08, It's Really the Economy, Stupid

Worried over job, credit, health woes, voters put Iraq on back burner

Dec 4, 07 12:45 PM CST
(Newser) - With gas prices stratospheric, the housing market tanking, and recession looking likely, voters aren't too worried about Iraq, reports the Wall Street Journal. Job concerns have transformed illegal immigration and health care into major issues. “You have to have a health plan even in the Republican primary,... More »

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John McCain • Democrats • Republican • recession • US economy • credit crisis • oil price • housing crisis • Election 2008 • economic adviser

The 'R-Word' Surfaces on Wall Street

'Odds of a recession are pretty damn high,' says analyst

Nov 27, 07 12:38 PM CST
(Newser) - Wall Street has the recession jitters: Markets are down 10% since October, the S&P 500 is down as analysts predict depressed earnings, and T-bills are down on anticipated Fed rate cuts. But there’s a flip side: Holiday sales gained 8.3% over 2006, unemployment is at 4.7%,... More »

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investing • Ben Bernanke • Wall Street • subprime mortgages • recession • US economy

Goldman Sees $2T Credit Shortfall, Major Slowdown

Nobel winner, investment firm
warn of growing risk

Nov 16, 07 10:44 AM CST
(Newser) - The subprime mortgage crisis that has cost financial companies $400 billion and triggered what one banker is calling the worst housing market since the Great Depression will force a $2 trillion credit squeeze that could set off a “substantial recession” in the US, reports Bloomberg. Goldman Sachs said the... More »

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Goldman Sachs • subprime mortgages • recession • US economy • credit • subprime crisis • financial crisis

Bernanke Sees Q4 Slowdown

Fed chief sees economy as 'resilient' but  growth slow through this quarter

Nov 8, 07 9:58 AM CST
(Newser) - Economic growth will slow "noticeably" through the end of the year and into 2008, Fed chief Ben Bernanke said in prepared testimony for a congressional panel today. Bernanke called the economy "resilient," but said the housing slump will intensify before it's over, the Wall Street Journal reports.... More »

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Ben Bernanke • Federal Reserve • subprime mortgages • recession • housing crisis

Calif. Budget
Falls Prey to Housing Crisis

Governator orders across-the-board cuts as deficit nears $10B

Nov 6, 07 9:26 AM CST
(Newser) - With the housing crisis laying waste to California’s coffers, Arnold Schwarzenegger yesterday ordered all state agencies to cut budgets by 10%, the LA Times reports. “We are among a handful of states that has a lot of exposure to the housing crash,” said an economist. Property, sales,... More »

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California • housing market • Arnold Schwarzenegger • subprime mortgages • foreclosure • recession • state spending • housing crisis • state sales tax

CA Fires Won't Harm Economy in Long Term

Rebuilding will give
a boost to sagging
home building sector

Oct 24, 07 12:15 PM CDT
(Newser) - California’s runaway wildfires are not likely to do longterm damage to the state’s economy, the Los Angeles Times reports—in fact the disaster could be a boon to some sectors. One of those is construction: In the first nine months of the year, construction jobs were down 3%... More »

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California • construction • insurance • recession • wildfires • US economy • home builders

More People Skipping Basics to Pay the Bills

Analysts shocked as food banks run short, stores adjust prices

Oct 19, 07 7:40 PM CDT
(Newser) - More Americans are skipping breakfast and other basics just to pay the bills, the AP reports. With gas hitting highs this year and food prices up as much as 44%, even $35,000-plus wage earners are lining up for food, and food banks report acute shortages. One consultant says he... More »

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hunger • energy prices • recession • consumer prices • food prices • food banks • Family Dollar • 7 Eleven • Wal-Mart

Housing Still a Drag: Fed Chief

Setbacks likely, says Bernanke, who offers no hints on interest rate status

Oct 16, 07 5:38 AM CDT
(Newser) - The real estate slump will continue to be a "significant drag" on US economic growth well into next year, said Federal Reserve Chairman Ben Bernanke in his first speech on the economy since August. Recovery from the credit crisis will take time, and setbacks are likely, Bernanke told the... More »

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Federal Reserve • subprime mortgages • recession • credit market • interest rate • Federal Open Market Committee • Economic Club of New York • commercial paper • housing crisis

Retail Sales Ease Recession Worries

Unexpectedly rosy September numbers offset fears over housing, credit markets

Oct 12, 07 11:06 AM CDT
(Newser) - Retail sales rose significantly more than expected in September. Analysts attribute the surge, announced today, to more jobs and better wages. Coming in the wake of gloomy numbers the big chains released yesterday, it should quiet fears of a recession. "You can't have a recession if consumers are continuing... More »

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recession • retail sales

A New High: 1% of Rich
Have 21.1% of Riches

Wealthiest hundredth raked in one-fifth of income: IRS

Oct 12, 07 10:50 AM CDT
(Newser) - The wealthiest 1% of Americans hit a 21.1% record share of the nation's income, according to IRS figures released yesterday. While the data don't point to a specific cause, the Journal cites the heretofore booming stock market. The previous peak of 20.8% was in 2000, also at the... More »

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recession • income disparity • Internal Revenue Service

Jobs Stats Propel Markets

Oct 5, 07 3:55 PM CDT
(Newser) - The Dow and the S&P each set intraday records after today’s unexpectedly good jobs news, and the Nasdaq hit a 7-year high. The Dow closed at 14,066.01, up 91.70 points, and the S&P climbed 14.75 to 1,557.59 after indications that a... More »

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Google • Dow Jones • BlackBerry • recession • Nasdaq • Research in Motion • tech sector • S&P 500 • job

Dow Flat, Awaiting Jobs Stats

Next Fed move may follow from Friday’s report

Oct 4, 07 3:39 PM CDT
(Newser) - The stock market held steady today, as neither a drop in factory orders nor a rise in unemployment claims rattled investors bracing for tomorrow’s crucial jobs report—which could help spur the Fed’s next interest rate move. The Dow was up 6.26 points to 13,974.31,... More »

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Dow Jones • recession • Nasdaq • factory • unemployment benefits • S&P 500

Consumer Confidence Plummets

Metric falls more than predicted on job fears, market turmoil

Sep 25, 07 1:57 PM CDT
(Newser) - American consumers might need to be talked off some ledges, judging from consumer confidence numbers out today, which indicate continuing worry over employment and stock market unrest. The crucial figure—99.8, compared to 105.6 in August—is the lowest since 2005, the Conference Board says. Economists had expected... More »

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consumer confidence • recession • consumer spending

Bush, Congress Score Lowest Approval Yet

Poll finds 29% give president thumbs-up; 11% for legislators

Sep 19, 07 7:12 PM CDT
(Newser) - President Bush and Congress scored record-low approval ratings in a Reuters/Zogby poll released today. Bush dipped 1% below his previous Zogby approval rating of 30%; the legislative branch scored 11% approval, down 3% in August. And a new "mood index" showed the country as more unhappy than in July,... More »

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Bush administration • Congress • Bush approval ratings • United States • recession • George W. Bush

Asia Stocks Surge After Fed Cut

Prices soar to highest levels in a month

Sep 19, 07 5:00 AM CDT
(Newser) - Asian stocks rebounded after the US Federal Reserve announced a half point cut in its key lending rate in a bid to bolster growth and avoid a consumer spending slowdown. Toyota, Samsung Electronics and Honda, among those companies with the most to lose from a loss of consumer confidence, led... More »

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Federal Reserve • stocks • recession • markets • Asian markets • Japanese economy • interest rate cut

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