US Economy Continues to Contract
The US Commerce Department today announced that the economy declined at a much greater pace than expected falling 6.1 percent since the beginning of the year. More
Six Banks Rumored to Need More Capital
Several sources have been quoted as saying that at least six of the nineteen banks forced to undergo “stress tests” by the Treasury Department will require additional cash from the government to remain solvent. More
Germany Revises Growth Forecast
Germany has cut its growth projection for the year from a decline of 2.25 percent to a much greater contraction of 6 percent. This would be the worst performance for any year in the post-war period easily surpassing the previous record 0.8 percent decline in 1993. More
Spain’s GDP Falls 1.8% in First Quarter
In what is shaping up to be an especially difficult year for Spain, the country’s Gross Domestic Product (GDP) fell by 1.8 percent in the first quarter compared to the final quarter for the previous year. When compared to the same period for the previous year, GDP is down 2.9 percent. More
