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REALITY CHECK: FED SEES ECONOMY GETTING MUCH WORSE

By Economy In Crisis | Published 05/22/08

Ben Bernanke and Co. at the Fed finally acknowledged that the economy is facing a severe short-term outlook, a stark contrast to the more upbeat assessment they had previously projected.

Source CNN Money:

The Fed lowered its economic growth forecast for the year. At the same time, it raised its projections for inflation and unemployment. The combination of slowing growth and rising prices created a difficult situation that made the Fed's latest decision to cut rates on April 30 a "close call."

» Read The Entire Article

Oil sets new record, above $135

By Economy In Crisis | 05/22/08

Oil prices hit a record above $135 a barrel before falling back slightly in Asia on Thursday, with supply worries, rising global demand and a slumping dollar keeping crude futures on an upward track.

» Read The Entire Article

US industrial production slides more than expected

By Economy In Crisis | 05/22/08

American industry continues to slow:

US industrial production fell more than expected in April, with production levels affected by a large drop in the output of motor vehicles and parts.

» Read The Entire Article

Dollar continues to sink

By Economy In Crisis | 05/22/08

The dollar sank against the euro and fell against the other major currencies on Wednesday.

» Read The Entire Article

Boeing Upbeat on Tanker Prospects

By Economy In Crisis | 05/22/08

Albaugh (who heads Boeing's Defense unit) laid out the case for Boeing's protest, the first in the company's nearly century-long history, of the Air Force's decision to award the $35 billion tanker contract to the parent company of rival Airbus SAS.

» Read The Entire Article

The Great American Sell Off

This is the money spent by foreign entities to buy out American companies
since 1978. Find out more about this number by clicking here.

ECONOMIC STATISTICS



Foreign Ownership of U.S. Industries

Sound recording industries97%
Commodity contracts dealing79%
Motion picture and sound recording industries75%
Metal ore mining65%
Motion picture and video industries64%
Wineries and distilleries64%
Database, directory, and other publishers63%
Book publishers63%
View Full List of Industries

Foreign Financing of U.S. Government Debt

Japan$517.2 Bn
China$405.5 Bn
United Kingdom$299.7 Bn
Brazil$128.8 Bn
Oil Exporters$126.7 Bn
Luxembourg$76.3 Bn
Hong Kong$54.3 Bn
View Full List of Debtholders

U.S. Consumption Spent On Foreign Goods

Footwear90%
Audio & Video Equipment87%
Other Leather Products86%
Leather and Hide Tanning75%
Apparel Accessories67%
Apparel67%
Computer Equipment59%
View Full List of Products

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RECENT COMMENTS

China is Not The Problem
By: guest (05/06/08 12:59 PM)
Airbus Deal Must Be Stopped
By: guest (05/06/08 12:45 PM)
China is Not The Problem
By: guest (05/03/08 08:02 AM)
China is Not The Problem
By: guest (05/01/08 11:54 AM)
Airbus Deal Must Be Stopped
By: guest (05/01/08 11:47 AM)
China is Not The Problem
By: guest (04/30/08 06:59 PM)
A Motion of No Confidence for Incompetent Leaders
By: guest (04/30/08 02:00 AM)