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Recessions and Depressions


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Obama pledges to help states weather recession

CHICAGO, Dec. 2, 2008 (Reuters) — President-elect Barack Obama pledged on Tuesday to help state governors cope with a deepening recession and asked for their help in crafting a huge stimulus package to create jobs and tackle the crumbling economy. ...  > full story

Retail stocks fall on holiday shopping worries

NEW YORK, Dec. 1, 2008 (Reuters) — Key retail stocks fell on Monday as investors feared that deep discounts offered by U.S. stores during the year's first holiday shopping weekend could sap profits and would not save a bleak season. ...  > full story

Bush calls flawed Iraq intelligence biggest regret

WASHINGTON, Dec. 1, 2008 (Reuters) — President George W. Bush said the biggest regret of his presidency was flawed intelligence that Iraq had weapons of mass destruction and told ABC "World News" in an interview airing on Monday that he was unprepared for war when he took office. ...  > full story

Iran blames West for global crisis

DOHA, Nov. 29, 2008 (Reuters) — Iranian President Mahmoud Ahmadinejad blamed the West for the global financial crisis on Saturday, saying other countries were being dragged in to help resolve Western problems. ...  > full story

Poverty spreading in suburbs: study

WASHINGTON, Nov. 28, 2008 (Reuters) — Poverty in the United States is spreading from rural and inner-city areas to the suburbs, according to a study, a situation that can worsen as the economy confronts what may be a protracted recession. ...  > full story

World stocks headed toward 6th session of gains

LONDON, Nov. 28, 2008 (Reuters) — Global stocks headed toward a sixth consecutive session of gains on Friday, although European shares were weak, as investors took some comfort from government moves to stimulate a deteriorating world economy. ...  > full story

Obama picks Volcker as economy adviser

CHICAGO, Nov. 27, 2008 (Reuters) — U.S. President-elect Barack Obama on Wednesday named former Federal Reserve Chairman Paul Volcker to chair a new panel to advise him how to stabilize financial markets and navigate a potentially painful recession. ...  > full story

Consumers cut spending

NEW YORK, Nov. 26, 2008 (Reuters) — Housing, consumer spending and business investment all weakened sharply last month as the dizzying downward spiral of the world's largest economy gathered speed, data showed on Wednesday. ...  > full story

OPEC likely to debate, not decide another supply cut

LONDON, Nov. 26, 2008 (Reuters) — OPEC ministers will debate a deep cut in oil supply when they meet this weekend in Cairo for urgent talks aimed at arresting a downward price spiral that sucked oil below $50 a barrel. ...  > full story

Shares fall as stimulus weighed

LONDON, Nov. 26, 2008 (Reuters) — World stocks struggled on Wednesday, with European and Japanese markets falling, while the low-yielding Japanese yen rose as investors counted the cost of global fiscal stimulus packages to boost flagging economies. ...  > full story
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