Friday, November 9, 2007

US Debt tops 9 trillion, stocks battered, banks overwhelmed with bad debt

Stocks battered by mortgage mess

Dow falls over 150 points on news Wachovia will take a $1 billion hit, forecasts for slower growth in Europe.

Bankruptcy Law Backfires On Banks

The Economic Consequences of Mr. Bush

Federal Liabilities Now Equal $175,000 for Every American

National Debt at Record $9 Trillion

California Gas Prices Reach $5 In Some Areas

Asian Stocks Slump as Dollar Tumbles, Subprime Losses Widen

Asian stocks fell the most in 12 weeks, extending a global rout after the dollar plunged yesterday, oil slumped and U.S. financial companies disclosed mounting credit-market losses.

US debt tops $9 trillion for first time-Treasury US debt tops $9 trillion for first time-Treasury

The U.S. Treasury Department said on Wednesday publicly held U.S. debt breached $9 trillion this week for the first time ever, just five weeks after Congress had raised the statutory borrowing limit.

At the end of September, U.S. President George W. Bush signed a measure to increase the debt limit ceiling to $9.815 trillion from $8.965 trillion, allowing the government to keep issuing debt.

The increase in the debt limit is the fifth since Bush took office in January 2001. The U.S. debt stood at about $5.6 trillion at the start of his presidency

UN warns of possible sharp rise in bird flu outbreaks ahead of Northern Hemisphere winter... http://hosted.ap.org/dynamic/stories/A/AS_GEN_ASIA_BIRD_FLU_ASOL-?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2007-11-09-06-04-23

http://www.nytimes.com/2007/11/09/business/09shop.html?ex=1352264400&en=76e3c7ce5cabfdc4&ei=5090&partner=rssuserland&emc=rss Consumers have rendered a verdict on the coming holiday season: grim