News Headlines - Faltering Economy
This is a collection of news headlines and articles tracking the global economic recession slowly unfolding.
There are three points to keep in mind when scanning these:
- The Financial Times, the main source, prides itself in non-sensationalist news - these articles are pretty sensationalist if one reads between the lines;
- Over the past 200 years, the average length of time between depressions has been 22 years; it has been 24 years since the last depression in 1982 - See Brief History of Western Depressions;
- Newspapers invariably report on events after they’ve occurred, and seldom report on trends. Neither do they predict outcomes. The real value of this collection is if you, dear reader, are able to identify the trend for yourself and postulate what the outcome may be. As a hint, here are a few concepts to keep in mind: The Great Depression of 1929; Zimbabwe in late 2000’s; China becomes world superpower in second decade of 21st Century.
Each link opens in a new window, and each is from 2007. Simply hovering your mouse over each link will give you a feel for what the article is about. (Note that the FT limits you to 5 articles per day without registration.)
11/08: Stocks tumble as inflation fears grow (Gold at 28 year high - $845.50 per oz, gold at $98.62 per barrel)
11/08: Fears of shaky opening at LSE after trading system outage
11/08: Morgan Stanley to take $2.5bn writedown from subprime exposure
11/07: Stocks tumble as fears on oil and inflation mount
11/07: Risk rises of securities fire sale
11/07: GM set for $39bn charge over tax benefits
11/06: Failed buy-outs double to exceed $200bn
11/06: 7 Countries Considering Abandoning the US Dollar (and what it means)
11/06: Oil and gold reach fresh high (Oil at $96.70 per barrel and gold at $824.30 per oz, a 28-year high and just below it’s record of $850 reached in 1980)
11/06: Banks are braced for months of pressure
11/06: Northern Rock mortgage trade collapses in wake of problems
11/06: Traders hedge against oil topping $100
11/05: Prince quits as Citigroup chief
11/04: What’s the damage? Why banks are only starting to uncover their subprime losses
11/03: Investors savage bank stocks
11/03: Investors’ rush for safety pushes gold through the $800 barrier
11/02: New fears over subprime fallout
11/01: Citigroup executives sacked over heavy losses in credit turmoil
11/01: Northern Rock borrows another £2bn from Bank
11/01: Fed eases rates but warns over future cuts
10/31: State funds join China’s hunt for foreign deals
10/30: Data add to gloom on US economy
10/29: Dollar and oil hit new records
10/25: BoE set to win power for covert rescues
10/25: ICBC in $5.6bn S Africa bank deal
10/25: Buffett cautious on $75bn superfund
10/24: Merrill in ‘staggering’ $7.9bn writedown
10/24: UK financial sector still ‘vulnerable’
10/22: IMF warns of abrupt dollar fall
10/21: Call for transparency in $75bn superfund
10/19: Greenspan questions ’superfund’
10/19: Earnings shock from BofA (pdf)
10/18: The day fear eclipsed greed
10/17: World Economy 2007: Special Report
10/15: Banks line up $75bn mortgage debt fund
10/11: Darling proposes insolvency regime
10/09: FSA owns up to Rock failings
10/09: Sprint Nextel chief quits amid subscriber fears
10/07: IMF head warns on impact of credit crisis
10/05: Credit squeeze costs banks $18bn
10/04: Northern Rock borrows £2.9bn more
08/13: How the mortgage crisis arose and infected the world
03/12: Fears of subprime fallout escalate
Earlier reports going back to the bank runs on Northern Rock in the UK to follow…
Wait, There's More!
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