Weak dollar costs U.S. economy its No. 1 spot

The U.S. economy lost the title of "world's biggest" to the euro zone this week as the value of the dollar slumped in currency markets.

//www.reuters.com/article/idUSL1491971920080314



U.S. faces severe recession: NBER's Feldstein

The United States is in a recession that could be "substantially more severe" than recent ones, National Bureau of Economic Research President Martin Feldstein said on Friday.

//biz.yahoo.com/rb/080314/usa_economy_feldstein.html?.v=1



Bear Stearns gets emergency funds

US bank Bear Stearns has got emergency funding, in a move that raises fears that one of Wall Street's biggest names is on the verge of collapsing.

//news.bbc.co.uk/1/hi/business/7296678.stm



Stocks tumble on Bear Stearns rescue news

News that Bear Stearns Cos. was set to receive a financial rescue sent U.S. stocks into a freefall in early Friday trade, plunging the three major indexes more than 2% down before the market stabilized and moved off its lows.

//tinyurl.com/ytlzhp



Fears mount over US economy

The US economy has been hit by a new series of setbacks, with a slump in consumer spending, another drop in the dollar and oil prices hitting a new record increasing fears of recession.

//tinyurl.com/2vfyoe



Recession Time

How bad will this downturn get? No one can know because we've never experienced such a headlong slide in the housing market.

//tinyurl.com/2cf4xe



Tent city highlights US homes crisis

The meltdown in the US mortgage market has led to record foreclosures and forced thousands from their homes. In few places is it worse than southern California, where the BBC's Rajesh Mirchandani reports on an extreme consequence of the downturn, but one that some observers fear could grow.

//news.bbc.co.uk/1/hi/world/americas/7297093.stm



SWAT teams disperse crowd of hundreds awaiting housing applications

Judith Aigen, executive director of the housing authority, said the crowd surged forward when told applications only remained for the disabled. She said mothers with children and people in wheelchairs were nearly crushed.

//tinyurl.com/yseej3



Price Of Bread Goes Up

Prices for bread and pasta have jumped after flour costs doubled in less than a week. Cynthia Bowers reports on how manufacturers and consumers are feeling the real consequences of inflation.

//tinyurl.com/2cyg2e



Could we really run out of food?

Biofuel production, poor harvests and emerging nations' growing appetites are emptying the world's pantry, sending prices soaring. It's a good time to invest in agricultural stocks.

//tinyurl.com/386fqt


From Information Clearing House



//freepage.twoday.net/search?q=weak+dollar
//freepage.twoday.net/search?q=recession
//freepage.twoday.net/search?q=housing
//freepage.twoday.net/search?q=mortgage
//freepage.twoday.net/search?q=foreclosure

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