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October 7, 2008 4:43:45 PM CDT

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Stories related to: US economy

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  • December 2007

    • 2007: Asia's Banner Year

      Bloomberg  |  Dec 24, 07 2:19 PM CST

      2007: Asia's Banner Year

      (Newser) - Asia's economies are soaring so mightily that Bloomberg columnist William Pesek is passing out awards for Asia's big players in 2007. They range from a “Money Talks” prize, for Arab and Asian leaders who bailed out Wall Street banks, to the “Howard's End” trophy, for Australian PM Kevin Rudd's brave embrace of the Kyoto Protocol. "Yet the biggest news was a not-so-subtle shift in Asia's role in global markets," Pesek writes. More »

      Tags

      US economy  • subprime mortgages  • India  • Australia  • Thailand  • Asia  • Kevin Rudd  • Chinese economy

    • Weaker Dollar Revamps World Economy

      Washington Post  |  Dec 24, 07 11:04 AM CST

      Weaker Dollar Revamps World Economy

      (Newser) - A declining US dollar is sparking changes worldwide, drawing jobs to the States and spurring sales of US goods, but also ending an age of rich Americans abroad and hurting economies that are pegged to the note. Its 7-year, 40% drop against the Euro is no short-term slide either, experts say. Even Jay-Z is touting Euros in his new video, "Black Magic," which extols lavish Manhattan lifestyles. More »

      Tags

      US economy  • US dollar  • Boeing  • Airbus  • euro  • global economy

    • Retailers Slash Prices to Boost Slumping Season

      Bloomberg  |  Dec 23, 07 6:43 PM CST

      Retailers Slash Prices to Boost Slumping Season

      (Newser) - Retailers slashed prices nationwide this weekend in a bid to draw last-minute shoppers and lift a slumping holiday season, Bloomberg reports. Pressed by high gas and food prices, consumers are holding out for zero-hour deals; retailers have obliged with half-off sales and extra hours, counting on the last days before Christmas for 9% of season sales. More »

      Tags

      US economy  • gas prices  • food prices  • retail sales  • retail  • consumer confidence  • holiday shopping  • consumer prices

    • A Tale of 2 (Rich) Candidates

      New York Times  |  Dec 23, 07 11:52 AM CST

      A Tale of 2 (Rich) Candidates

      (Newser) - John Edwards and Mitt Romney are both self-made millionaires who used their wealth to climb the political ladder, the New York Times reports. But Edwards is an old-school populist who chalks up the current 1920s-level income gap to Reaganesque policies eroding the middle class, while Romney thinks the key to growth is laissez-faire economics. More »

      Tags

      Election 2008  • Mitt Romney  • US economy  • John Edwards  • wealth  • Reaganomics  • laissez faire economics

    • World Bank Cuts China's Economy Down to Size

      BBC  |  Dec 18, 07 7:44 AM CST

      World Bank Cuts China's Economy Down to Size

      (Newser) - China's economy, predicted to become the world’s largest by 2012, actually is 40% smaller than previously estimated, the World Bank concludes, after updating the way it calculates GDP. Although China’s $5.33-trillion economy is still the second largest in the world behind the $12-trillion US, the new appraisal suggests it won't be taking top honors that soon, and it's less powerful, and poorer, than thought, the BBC reports. More »

      Tags

      China  • US economy  • World Bank  • GDP

    • Ho-Hum Season Sees Drop in Women's Apparel Sales

      New York Times  |  Dec 17, 07 2:07 PM CST

      Ho-Hum Season Sees Drop in Women's Apparel Sales

      (Newser) - Women's spending on apparel for the first half of the Christmas season is down, alarming retailers and spawning broad worry in the industry. Experts blame a bleak economy and blah fashions for a slump of nearly 6% compared with a year ago, reports the New York Times . Men’s clothing sales, on the other hand, rose 4.5% in the first 20 days of the season. More »

      Tags

      US economy  • retail sales  • holiday shopping

    • Rich Getting Even Richer, Even Faster

      New York Times  |  Dec 15, 07 4:17 PM CST

      Rich Getting Even Richer, Even Faster

      (Newser) - America’s economy is great, the New York Times says, if you’re already super rich. Between 2003 and 2005, America’s top 1% saw a meteoric 42.6% jump in income. The rest of us? Well, the middle fifth earned an extra 4.3%, and the bottom fifth just 1.3%—or $200 per household. “This is an economy that’s working, but not working for everyone,” said one economist. More »

      Tags

      US economy  • wealth  • ultra rich  • income disparity

    • Greenspan: Odds Rising for Recession

      NPR  |  Dec 14, 07 9:03 AM CST

      Greenspan: Odds Rising for Recession

      (Newser) - Alan Greenspan warned yesterday that sluggish economic growth is increasing the risk of recession. "It's too soon to say, but the odds are clearly rising," the former Fed chief told NPR. The subprime crisis and its resulting credit turmoil has growth "getting close to stall speed," he said. More »

      Tags

      Federal Reserve  • US economy  • recession  • Alan Greenspan

    • Nov. Retail Sales Up 1.2%; Sky May Not Be Falling

      Bloomberg  |  Dec 13, 07 10:09 AM CST

      Nov. Retail Sales Up 1.2%; Sky May Not Be Falling

      (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 help put to rest some of the fears of sliding into recession,” said one economist. More »

      Tags

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

    • Morgan Stanley Warns of Recession

      Daily Telegraph (UK)  |  Dec 12, 07 6:11 PM CST

      Morgan Stanley Warns of Recession

      (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 cuts in interest rates will only soften the blow. More »

      Tags

      US economy  • recession  • housing market  • Morgan Stanley

    • US Economic Woes to Slow Tech Spending

      Wall Street Journal  |  Dec 11, 07 11:38 AM CST

      US Economic Woes to Slow Tech Spending

      (Newser) - Tech-spending growth, on a roll since recovering from the 2000 dot-com bust beginning in 2004, is likely to slow next year, dragged down by US economic woes and rising oil prices, reports the Wall Street Journal. Research firms say companies are likely to keep spending, but more slowly. As one CIO said, “It’s not doom and gloom.” More »

      Tags

      US economy  • technology  • budget  • spending

    • Economists See Rising Risk of Recession

      Wall Street Journal  |  Dec 11, 07 6:59 AM CST

      Economists See Rising Risk of Recession

      (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 must take strong action to support recovery. More »

      Tags

      Federal Reserve  • US economy  • recession

    • Dems Pitch Own Mortgage Plans

      New York Times  |  Dec 6, 07 2:56 AM CST

      Dems Pitch Own Mortgage Plans

      (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,” said Hillary Clinton, who traveled to Wall Street to push for fixes. Bush will formally introduce his plan today. More »

      Tags

      Hillary Clinton  • US economy  • subprime mortgages  • John Edwards  • recession  • foreclosure  • borrowers