World-News

The political bubble is bursting. Spreads on geo-strategic risk are now widening as dramatically as the spreads on financial risk at the onset of the credit crunch.

http://tinyurl.com/6kouov



China Urges U.S. to Counter Crisis, Prepares for 'Worst Case'

"We hope that the U.S. can take all necessary measures to stabilize its financial markets and economy as soon as possible and ensure the safety of China's assets and investments in the U.S.," Wang said. "To work together to tackle the financial crisis is the most pressing task that we are facing."

http://tinyurl.com/5w4e7p



Some bailout holdings down $9 billion

Stock intended to eventually earn taxpayers a profit as part of the Bush administration's massive bank bailout has lost a third of its value - about $9 billion - in barely one month, according to an Associated Press analysis. Shares in virtually every bank that received federal money have remained below the prices the government negotiated.

http://news.yahoo.com/s/ap/20081205/ap_on_bi_ge/bailout_returns



Job Losses: 533,000 in November

Recession winds are blowing with gale force as U.S. employers shed 533,000 jobs in November, pushing the unemployment rate to 6.7%.

http://tinyurl.com/5shj6c



Record number of Americans using food stamps: report

More than 31.5 million Americans used the program -- up 17 percent from a year ago, according to government data.

http://tinyurl.com/5tnp5w


From Information Clearing House



http://freepage.twoday.net/search?q=credit+crunch
http://freepage.twoday.net/search?q=financial+market
http://freepage.twoday.net/search?q=financial+crisis
http://freepage.twoday.net/search?q=bailout
http://freepage.twoday.net/search?q=taxpayers
http://freepage.twoday.net/search?q=job+loss
http://freepage.twoday.net/search?q=recession
http://freepage.twoday.net/search?q=unemployment
http://freepage.twoday.net/search?q=food+stamps