Staff / TruthdigNov 21, 2008
Starting on Nov. 26, mortgage finance mega-firms Fannie Mae and Freddie Mac will take a time out from foreclosures and evictions until Jan. 9 -- a welcome holiday break for struggling homeowners that hopefully will catch on among other corporate players in the mortgage market. Dig deeper ( 1 Min. Read )
Staff / TruthdigNov 19, 2008
Analysts believe the economy is already in "horrific shape" -- with news this month of record-breaking drops in the cost of living and new home construction -- and is inching closer to a dangerous deflationary period, which could worsen the current economic crisis by making debts even harder to repay. Dig deeper ( 1 Min. Read )
Staff / TruthdigOct 8, 2008
There will hopefully come a day when the news from Wall Street is actually good (at the moment, anything better than utterly terrifying news would be nice), but Tuesday was not that day, despite Federal Reserve Chairman Ben Bernanke's intimations that help could soon be on the way. Dig deeper ( 1 Min. Read )
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Staff / TruthdigAug 15, 2008
Stagflation: It's always sounded like a dirty word, and is hopelessly tied to retro jokes about the '70s. But with GDP growth already, well, stagnant, the Labor Department announced Thursday that July saw the highest rate of inflation in 17 years, meaning you can now appropriately drop the word into water cooler convo without seeming like a potty-mouth or a retro hipster. On the downside, you are now paying 5.6 percent more for things than you did at this time last year. Dig deeper ( 1 Min. Read )
Staff / TruthdigFeb 21, 2008
Officials at the Federal Reserve are running out of creative ways to stave off a recession and expect the U.S. economy to slow to a crawl in 2008, with a growth rate of only 1.3 to 2 percent over the year. Dig deeper ( 1 Min. Read )
Andy Borowitz / TruthdigSep 9, 2007
The satirist reports that, desperate to protect their endangered fortunes, thousands of the nation's leading hedge-fund managers converged on Washington today in "The Million Mercedes March." Dig deeper ( 1 Min. Read )
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