World-News

He said the U.S. Federal Reserve will have to raise interest rates 200 basis points by the end of 2009 as a result.

http://tinyurl.com/6xzw6s



America's house price time bomb

With the American housing market in its worst crisis since the Great Depression of the 1930s, President Bush is authorising new legislation to pave the way for massive new government intervention designed to slow the slide.

http://news.bbc.co.uk/2/hi/business/7529277.stm



Property economist warns of 25-year slump

Bearish analyst Capital Economics said house prices would fall 35% over the next three years and provided the market was stabile, prices would not reach 2007 levels until 2036.

http://tinyurl.com/5o2a89



Consumer confidence plunges near historical low: ABC

American consumers' confidence plummeted in the latest week, with only 10 percent of respondents in a recent poll having a positive view on the economic outlook, a report showed on Tuesday.

http://www.reuters.com/article/marketsNews/idUSN2937351620080729?rpc=401&


From Information Clearing House



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