From Calculated Risk: Both the monthly indices (20 cities and 2 composites) and the quarterly national index were released this morning. I’ll have more on the national index shortly. The Composite 10 is off 19.2% over the last year. The Composite 20 is off 18.5% over the last year. These are the worst year-over-year price […]
From Calculated Risk: This graph shows the overall consumer confidence index from the Conference Board (graph from Northern Trust). The Present Situation Index (not shown) is low, but not as low as in some earlier recessions (the Present Situation Index is at 21.2, it fell to 16.2 in 1982). What pulled down the overall index […]
BBC – We have a special report from Argentina on a devastating drought that has killed more than a million cattle. The plight of Argentina’s farmers Technorati Tags: Argentina,drought,financial collapse
From Greenbang: Interested in seeing some visual evidence of the global financial meltdown? We’ve found some fascinating links to images that demonstrate clearly the crash in demand for consumer goods. For example, how many people aren’t buying cars these days? Check out The Truth About Cars’ “Worldwide Auto Inventory Glut in Pictures.” It’s pretty incredible. […]
From Calculated Risk: The American Institute of Architects reports: Another Historic Low for Architecture Billings Index Note that historically there is an “approximate nine to twelve month lag time between architecture billings and construction spending”. The ABI fell off a cliff in early 2008 and we are just starting to see that decline show up […]
By Jeff Benjamin Iceland’s economic meltdown, fueled by its exposure to foreign debt, could bring the country to the brink of failure, according to research from Hennessee Group LLC. “Iceland had one of the highest standards of living in the world just a few months ago,” said Charles Gradante, co-founder of the New York-based hedge […]
By ROBERT F. WORTH DUBAI, United Arab Emirates — Sofia, a 34-year-old Frenchwoman, moved here a year ago to take a job in advertising, so confident about Dubai’s fast-growing economy that she bought an apartment for almost $300,000 with a 15-year mortgage. Now, like many of the foreign workers who make up 90 percent of […]
By Alister Doyle, Environment Correspondent OSLO (Reuters) – Atmospheric levels of the main greenhouse gas are hitting new highs, with no sign yet that the world economic downturn is curbing industrial emissions, a leading scientist said on Thursday. "The rise is in line with the long-term trend," Kim Holmen, research director at the Norwegian Polar […]
Here is today’s snapshot of the Icelandic stock market. It has dropped even lower, if that’s possible, down 1.1% today. I really hope we don’t have to evacuate Iceland to avert mass starvation there. Technorati Tags: Iceland,financial collapse
Ed Balls, the PM’s closest ally, warns that downturn is ferocious and says impact will last 15 years By Nigel Morris, Deputy Political Editor, and Sean O’Grady, Economics Editor Britain is facing its worst financial crisis for more than a century, surpassing even the Great Depression of the 1930s, one of Gordon Brown’s most senior […]
