Great Depression
August 26, 2010 - 6:50am | Analytics | News
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Reports about positive gross domestic product readings and other relatively good readings of the economy condition are just disguising the true state of affairs which is Depression of the US economy, believes Gluskin Sheff economist David Rosenberg said Tuesday.
In his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. |
0 points
August 21, 2009 - 12:34pm | Analytics | News
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On Friday the Federal Reserve Chairman Ben Bernanke said that the United States are now closer to the long waited recovery from the worst of the crises that have occurred since the Great Depression. Addressing the annual Fed conference in Jackson Hole Bernanke said in a speech that economic activity in both the U.S. and around the world appears to be "leveling out," and "the prospects for a return to growth in the near term appear good.”
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1 point
August 10, 2009 - 5:43am | Analytics | News
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Nobel laureate and professor of economics Paul Krugman told CNBC on Monday that the world economy needs a second stimulus if it is to avoid the fate of Japan in the 1990s when the country was stuck with years of sluggish growth. "The good news is that it does not look like the 2nd great depression. For a few months it did," Krugman said.
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-1 points
July 31, 2009 - 5:01am | Analytics | News
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Addressing the reporters in his Oval Office on Thursday the US President Barack Obama said that the reports to be released on GDP would show the national economy contracted and job losses are still a serious problem. Meantime, Obama noted that the U.S. credit and banking systems had settled down -- a sign the economy had stepped away from a dangerous ledge.
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0 points
May 6, 2009 - 2:28am | Analytics | News
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Janet Yellen, President of the Federal Reserve Bank of San Francisco, addressing the auditorium in the Haas Business School of the University of California, Berkeley, on Tuesday reported that the recession will likely come to its end in the second half of the current year but we still should not expect a burst of economic growth in a short run.
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-1 points
April 8, 2009 - 7:43am | Analytics | News
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Two prominent Wall Street analysts, Mike Mayo and Dick Bove argued over the state of American banks.
Mike Mayo said that mortgage-related problems were "farther along," and U.S. banks were likely to face "a rolling recession by asset class." He stated problems among credit card, commercial real estate and industrial loans would rise through 2010, and banks' losses from loans, on a proportional basis, would surpass Great Depression-era levels, reaching 3.5% of their $7 trillion against 3.4% that banks had posted in 1934.
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-1 points
March 20, 2009 - 3:07am | Analytics | News
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This week Martin D. Weiss, Ph.D., president of Weiss Research, Inc., an independent research firm, released his white paper titled "Dangerous Unintended Consequences: How The Government Understates the Dimension of the Banking Bailouts, Buyouts and Nationalizations Can Only Prolong America’s Second Great Depression and Weaken Any Subsequent Recovery”. The report suggests that the U.S. |
0 points
March 16, 2009 - 10:13am | Banks and internet banks | News
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According to the latest report of Bank of England the country shows signs of heading towards 1930s-style depression. In its Quarterly Bulletin issued today the main bank of England the country is showing the early symptoms of being trapped in a so-called “debt deflation trap” where families find themselves pushed further and further into the red every month. It is the first time when British bank has compared the current situation in the UK with the period of the Great Depression in the US.
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0 points
March 16, 2009 - 7:58am | Analytics | News
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In an interview unseen within the last 20 years Ben Bernanke became the first chairman of the Federal Reserve to participate in a television program to express his view of the U.S. economy prospects. He noted that the recession in the country will likely come to an end this year. Still he said that the unemployment rate of 8.1% will further increase.
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0 points
March 10, 2009 - 5:18am | Figures | News
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A recent survey that polled 51 forecasters revealed that the economy of the U.S. performs weaker than the experts expected a month ago. Yet the analysts say that the recovery will likely to come later this year. The study was conducted by the Blue Chip Economic Indicators prior to the unemployment report released by the government on Friday.
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0 points
March 2, 2009 - 3:50pm | Analytics | Articles
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According to the latest surveys, most Americans believe that we are heading towards another Great Depression. The press is full of dire warnings, upsetting statistics, and negative economic projections. Media headlines feature words like “mass layoffs”, “panic” and “rash of bankruptcies”. |
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January 27, 2009 - 6:29am | Articles | Other themes
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The British leading edition Guardian published an article where it makes a statement that the global financial crisis was not a mere consequence of natural economic processes but rather an implication of human errors and misdeeds. The paper said that the current downturn is the worst economic turmoil that has ever occurred since the Great Depression. |
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January 20, 2009 - 9:59am | Analytics | Articles
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2012, the third year of Obama’s reign. The U.S. along with the rest of the world is struggling the implications of 2007 mortgage meltdown. Millions of people are roaming in search of any job to earn their living with the tents as their homes. Ubiquitous inflation. The state budget is near to zero. The outer debt of the greatest nation in the history accounts for many trillions. |
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December 30, 2008 - 9:18am | Analytics | Articles
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Economy crises that took place before the 20th century were mostly of local character while some time later they began spreading worldwide. Despite all the mechanisms created in recent decades by the world community to prevent global crises (strengthening the governmental control over the household processes, creation of the international financial institutions, monitoring and etc.) the world |
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November 20, 2008 - 12:28pm | Markets | News
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Who could ever imagine that the lives of people would depend on the figures reported in the investment market indices abundantly available today? Being at first sight just the usual numbers they however reflect the most important events in the world economy. Almost 80 years ago a prominent index known as Dow Jones Industrial Average or DJIA displayed horrible data in its charts, the data that marked the beginning of Great Depression. |
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