Bank report says U.S recession is here (Dow down 238)

[lovuian]

http://feeds.bignewsnetwork.com/?sid=316250

An American bank claims the U.S is now in recession.

One of the major banks in the U.S, Merrill Lynch, says the feared recession arrived with last Friday's employment report.

The employment report sent shares tumbling worldwide.

While Merrill Lynch believes the U.S is now in its first month of recession, other banks disagree.
more
I think they are right

http://feeds.bignewsnetwork.com/?sid=316245
U.S. stocks put in another dismal performance on Tuesday, with the Dow notching up another triple-digit loss, and the Nasdaq losing more than 20% of its value.

At the close of trading the benchmark Dow Jones industrials were down 238.42 points or 1.86% at 12,589.07.

The Nasdaq Composite was off 58.95 or 2.36% at 2,440.51, while the Standard and Poor's 500 at 1,390.19, was down 25.99 or 1.84%.

The U.S. dollar was little changed against most currencies, although it lost ground against the Australian dollar.
more...

And Congress and Bush are in la la la land

Food and energy to become more expensive
http://feeds.bignewsnetwork.com/?sid=316261
European Central Bank chief Jean-Claude Trichet, has warned that while global economic growth is robust, inflation risks remain as markets absorb the impact of the United States subprime crisis and higher food prices.

He said food was one of the major inflation builders along with higher energy costs.

[SammyWinstonJack]

1. And georgie is leaving the country for nine days. The little coward.

[lovuian]

2. exactly Blue State talking War

http://feeds.bignewsnetwork.com/?sid=316261
European Central Bank chief Jean-Claude Trichet, has warned that while global economic growth is robust, inflation risks remain as markets absorb the impact of the United States subprime crisis and higher food prices.

He said food was one of the major inflation builders along with higher energy costs.

Trichet was speaking at a central bankers meeting in Switzerland, where he said there was no evidence of significant influences from the market corrections in the industrial world.
more...
WOW I have never seen a World Wide inflation like this its all over the world the crisis

[LisaM]

3. FINALLY they factor in food costs

I think the recession arrived a year ago.

[lovuian]

4. I think your right on LisaM and notice it was European Central

that said food prices is killing the US

[LisaM]

6. Just basing it on how much money I had left at the end of the year

I was able to save more in 2006 than in 2007, and I made more in 2007 (we're not talking huge amounts, but it's my indicator).

[lovuian]

8. Mine too Food is a major part of the budget

and everywhere things have gone up up up steadily

and its going to go higher

Inflation is very bad I feel like we are on the first steps of Hyperinflation and Feds are going to have to acknowledge it

[gratuitous]

5. Dow Jones down another couple hundred

Let's see, it's gone up about 2,000 points during the 84 months of Stupidhead's presidency. What is that, an increase of less than 24 points per month? And now a recession, which of course, banks and economists never see except in retrospect.

[lovuian]

7. Its amazing it took this long for them to admit it

and the Debates need to start addressing the RECESSION