Inflation

(Newser) - The credit crisis has had at least one unintended positive effect, stopping a growing threat of inflation, Bloomberg reports. Dallas Fed president Richard Fisher said “inflationary momentum froze in its tracks” as the credit market did the same, but otherwise had a poor view of the economy. “I don't see any economic growth in 2009,” he said. “None.” More »

(Newser) - The US economy shrank less than expected in the third quarter but still suffered the biggest contraction since the 2001 recession, reports Bloomberg. The gross domestic product fell 0.3%, led by the first fall off of consumer spending in two decades. The figure, out from the Commerce Department this morning, beat the forecast 0.5% annual rate but nevertheless rang alarm bells among economists who warned a prolonged recession is likely. More »

(Newser) - As personal debt grows in Spain, debt-collectors are taking the trick-or-treat approach, donning costumes—tuxes, bagpipers’ gear, Pink Panther suits—and knocking on doors. If all goes as planned, neighbors take note and the debtor is embarrassed into paying, the Wall Street Journal reports. “The idea is to make the delinquency public," says one collector. "We have our professional uniform like anyone else.” More »