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By Susan Sontag
$16.50
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By Jabari Asim
$12.47
$35
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TeoJPG (CC BY-SA 2.0)
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American GDP contracted by an annual rate of 0.1 percent between October and December of last year, the Commerce Department said Wednesday.
Posted on Jan 30, 2013
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cobalt123 (CC-BY)
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A 0.2 percent dip in GDP at the end of 2011, which followed a drastic decline in the third quarter, has thrown Ireland back into recession, alongside Belgium, the Netherlands, Italy, Portugal and Greece, and begs the question of whether austerity is the answer to Europe’s economic woes.
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DoD / MC1 Chad J. McNeeley
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By William Pfaff — Americans might do better to give up their China obsession and go back to their traditional vision of a European threat.
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Flickr / Ryan Vaarsi
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Gus Speth, environmental lawyer, former Clinton adviser and founder of the Washington, D.C.-based World Resources Institute, who was arrested Sunday at the White House while protesting a proposed oil pipeline, has some bad news for American optimists. (more)
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AP / Philippe Wojazer
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Germany’s economy slowed to a crawl during the second financial quarter this year, registering only 0.1 percent growth during that time and dampening the optimism that Germans felt after an exceptionally strong first quarter. (more)
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Flickr / Ford APA
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Economists and other Americans were disappointed to see the country’s GDP growth slow to an aching 1.8 percent in the first quarter of 2011.
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AP / Susan Walsh
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As if the last couple of years haven’t been brutal enough, here comes Federal Reserve Chairman Ben Bernanke with the exasperating news that the job market isn’t going to markedly improve for “several years.”
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AP / Sang Tan
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Even though it fell short of economists’ expectations, a 3.2 percent rise in the GDP during the last quarter of 2010 has rekindled hopes that the U.S. economy may be moving toward sustainable recovery.
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Wikimedia Commons / Prolineserver
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New York Times econo-whiz Paul Krugman marked the 75th anniversary of America’s Social Security program with a warning note on Sunday, declaring that Social Security is under siege from “nearly all Republicans” as well as “some Democrats.”
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flickr/~Prescott
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The U.S. economy is still an unholy mess, but someone is doing something right over in Germany, which reported record growth over the three-month period from April through June—the biggest such spike since the once-split nation reunified.
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Flickr.com / PMorgan
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Even in the face of the global economic crisis, China’s economy still managed to grow by a surprising 8.7 percent last year, according to the bean-counters in Beijing, putting the country on track to overtake Japan as the world’s second-biggest economy.
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The total price tag for each American for the financial bailout is about $10,000. Could be worse: Brits are paying more than $47,000 apiece. The unemployed bear the brunt of the meltdown, but we all carry a debt for saving Citi, AIG and the rest.
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flickr/specialkrb
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Whoops! The bad news in this bulletin is that the U.S. economy didn’t grow at quite the rate—3.5 percent—from July through September that the Department of Commerce previously said it had. The good news: It still grew, albeit at the whittled-down pace of 2.8 percent during that time.
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chinadigitaltimes.com
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As the U.S. struggles to recover its footing due to the economic crisis, China is expecting yet another stellar year as it reports that the country’s economy is on track to reach its target of 8 percent GDP growth this year.
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blogspot.com
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Either the U.S. economy was in the pool during the last three months of 2008 or the economic crisis is worse than expected. The nation’s GDP shrank 6.25 percent in the fourth quarter of last year, almost doubling the preceding quarter’s contraction rate of 3.8 percent.
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AP photo / Darin McGregor, Pool
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Despite the fact that he’s looking at a trillion-plus deficit for 2009 as he settles into his second month as president, Barack Obama has plans to cut the annual deficit by half by the time his first term ends.
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Flickr.com / PMorgan
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After reconfiguring its output figures, China has finally found itself on the medal podium for gross domestic product, ousting Germany from its role as third largest economy in the world. China’s economy has grown tenfold in the past 30 years, and its development, while marveled at, worries many environmental, human rights and labor activists.
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Despite the massive federal stimulus package, national GDP only grew 1.9 percent from April to June, the Commerce Department has announced, and it actually shrank in the last quarter of 2007. Meanwhile, high gas prices, supposedly reflecting costs, spiked profits of oil companies, with Exxon recording its most profitable quarter ever. In fact, reports the NYT, “It was the highest quarterly profit ever for any American company, as Exxon made nearly $90,000 a minute.”
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Too Soon to Tell: The Case for Hope, Continued
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