Tag: economy

There will be more children in the US this year with bankrupt parents than divorced parents. With around 120,000 people declared bankrupt each month, many of the squeezed middle-class see the American dream slipping away.

Author of 'It takes a Pillage' Nomi Prins says - The economic deterioration of the country in the last 5 or 6 years has created a situation where you have such a young population that is educated and facing the inability to find jobs.Protesters in Egypt demand reforms in a country that has been ruled by a strong handed leader for the last three decades. The Egyptian people are demanding a complete shift in the way their government makes decisions and forms its economic policies.

Eight out of 10 Americans are stressed about the economy, and more people are reporting stress-related symptoms such as fatigue and irritability than they were a year ago.

OSLO (Reuters) - Investments of $750 billion could create a "Green New Deal" to revive the world economy and protect the environment, perhaps aided by a tax on oil, the head of the U.N. environment agency said on Thursday.

Achim Steiner said spending should focus on five environmental sectors including improved energy efficiency for buildings and solar or wind power to create jobs, curb poverty and fight climate change.

With 135 million Americans shopping at Wal-Mart every week, the retail giant's shoppers offer a revealing window into U.S. buying trends. But while consumer spending has fallen overall, Wal-Mart has seen sales of its discount items increase recently.

The retailer's surveys reveal what it calls "significant" changes in the consumer's condition.

NEW YORK (Reuters) - In the world of wine, vintage 2008 was a blend of economy and ecology as financial woes put the brakes on a bull run in prices and more producers went green.

"The marketers got into the green word for wine," said Alice Feiring, author of "The Battle for Wine and Love or How I saved the World from Parkerization."

WASHINGTON (Reuters) - Inflation ate deeply into U.S. consumer spending in the third quarter, doing more harm to the economy than either slumping car sales or housing, but recent commodity price falls may support growth going forward.

This does not mean that the U.S. economy is stronger than it looks. The gross domestic product shrank by 0.3 percent between July and September, according to annualized data released on Thursday, and many economists predict a recession lasting until mid-2009.

New York: Wall Street's mood will likely remain dark this week as the fallout from the credit crisis continues to corrode the US economy.

Questions also linger about the likely effectiveness of the newly passed bailout plan in shoring up the financial system.

The plan will take bad mortgage debt off banks' hands so they can step up lending to households and businesses.

With Wall Street crisis, McCain and Obama forced onto new proving ground