Gasoline station purchases, which so far had been boosted by record-high fuel prices, also tumbled 1%...... http://money.cnn.com/2008/03/13/news/economy/feb_retailsales/index.htm?postversion=2008031308
``Sentiment for the dollar continues to deteriorate very, very rapidly and if we're not careful this will turn into a dollar crash,'' said Mitul Kotecha, head of foreign-exchange research in London at Calyon, the securities unit of Credit Agricole SA, France's second-biggest bank. ``The risk is that we see a fairly aggressive move sharply lower towards 95 yen, and that could really perk up the interest of the Bank of Japan.''.. http://www.bloomberg.com/apps/news?pid=20601087&sid=aQ3ZEkeI8x0g&refer=home
March 13 (Bloomberg) -- Want the inside skinny on Federal Reserve Chairman Ben Bernanke's next moves as he battles to avert recession, bank bankruptcies and the collapse of capitalism?... http://www.bloomberg.com/apps/news?pid=20601039&sid=a8R_nSQd9wKU&refer=home
"The Fed's actions are keeping banks from having to write down large losses and quite likely go into bankruptcy," he writes on his blog at the American Prospect. "The result is that the bank executives, whose inept management pushed them into bankruptcy, get to keep their jobs and their salaries, which run into the tens of millions a year." Meanwhile, homeowners facing foreclosure - not to mention ordinary savers who are watching inflation erode the value of their nest eggs - remain quite unbailed-out.
Simons says the whole mess points up the limitations of the Fed. "They're not crisis managers," he says. "There's no playbook for this." http://money.cnn.com/2008/03/12/markets/fedfollies.fortune/index.htm
"My wage tripled in two years!" boasts Barbara Wasik, a Polish graphic designer.
But the pay rise was not a result of moving to the UK, instead the money rolled-in when she came back home. ... http://news.bbc.co.uk/2/hi/business/7282923.stm
PAPER: Fed takes boldest action since the Depression to rescue mortgage industry...
Gold hits $1,000 record high...
'Magic is over' for USA, says foreign minister of France...
Riot police called to control crowd at housing authority in Boca Raton...
http://www.nytimes.com/2008/03/13/technology/13net.html?ei=5065&en=765ff5f673bfdfee&ex=1206072000&partner=MYWAY&pagewanted=print Video Road Hogs Stir Fear of Internet Traffic Jam In a widely cited report published last November, a research firm projected that user demand for the Internet could outpace network capacity by 2011.
