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2010-11-17 15:11:20

The New England economic outlook remains precarious, with the regional economy struggling to continue its recovery if the U.S. economy remains weak. The looming federal and state fiscal crises will make a difficult road to recovery in the region even more difficult, according to Ross Gittell, James R. Carter Professor of Management at the University of New Hampshire. Gittell will release his fall 2010 economic forecast at the New England Economic Partnership economic outlook conference,...

2010-10-27 14:56:00

HARRISBURG, Pa., Oct. 27 /PRNewswire/ -- Hundreds of thousands more Pennsylvanians would be out of work today had policymakers chosen to do nothing in the face of the worst economic recession in decades, according to a new report from the Keystone Research Center. Unemployment rates would be at 15% or higher in most parts of the state, with a staggering 20% rate in Philadelphia. Even places with traditionally lower jobless rates, like the Harrisburg-Carlisle and Lancaster regions, would...

2010-09-01 17:05:00

FORT LEE, N.J., Sept. 1 /PRNewswire/ -- The National Inflation Association today released the following inflation alert to its http://inflation.us members: The Financial Crisis Inquiry Commission today held hearings with former Lehman Brothers Chairman Dick Fuld. They are trying to figure out why Lehman Brothers was allowed to collapse, with the belief that the failure of Lehman Brothers caused the financial crisis of 2008. The truth is, the failure of Lehman Brothers was a result of the...

2010-06-30 13:45:00

65% fear a 'double dip' recession, 72% say Europe's financial problems likely to hurt US, 42% will cut back personal spending, 48% say spending will remain the same over next 3 months NEW YORK, June 30 /PRNewswire-USNewswire/ -- Beyond significant concerns about the current state of the US economy, Americans see a double-dip recession as a real possibility and fear Europe's financial problems will harm the US economy. 65% of the roughly 1,000 Americans polled last week by StrategyOne say...

2009-12-07 11:15:00

FORT LEE, N.J., Dec. 7 /PRNewswire/ -- The National Inflation Association today released the following statement to its www.inflation.us members: "On Friday it was announced by the Bureau of Labor Statistics that the U.S. unemployment rate in November declined from 10.2% to 10%. While the mainstream media would like you to believe we have seen a peak in unemployment and the worst of the economic crisis is behind us, we know that this dip in the unemployment number is phony and the...

2009-09-30 10:21:02

The U.S. government significantly improved its second quarter gross domestic product estimate in the latest and final revision Wednesday. The GDP is released in preliminary, revised, and final estimates. The latest figure, based on freshly available data, put the second quarter GDP at minus 0.7 percent, an improvement from the 1 percent contraction estimated a month ago. The second quarter figure is a sharp improvement over the 6.4 percent contraction of the first quarter. The Bureau of...

2009-09-29 12:15:54

The British economy shrank 0.6 percent in the second quarter, in line with expectations, the Office of National Statistics said Tuesday. The number is an improvement over the previous estimate of a 0.7 percent second quarter decline. Many economists are now predicting the British GDP grew in the third quarter, The Times of London reported Tuesday. The ONS sharply revised its construction sector estimate of a 2.2 percent decline to an 0.8 percent decline. Overall, many areas of the British...

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2009-09-25 15:42:34

Christina Romer, chair of the White House Council of Economic Advisers, said in Chicago the Great Recession had all the early signs of the Great Depression. Both financial skids, 1929 and 2007, began with gentle declines, Romer said in a speech at the Federal Reserve Bank in Chicago Friday. Both episodes were also marked with strong declines in household wealth and both were hit with bank runs, Romer said. In the Great Depression, the bank runs began in 1930. At that point, the Federal...

2009-09-22 23:42:15

The Asian Development Bank, noting developing Asia's economic resilience, revised the region's 2009 economic growth forecast to 3.9 percent from 3.4 percent. Developing Asia is proving to be more resilient to the global downturn than was initially thought, the bank, based in Manila, said in its updated annual economic publication. The previous forecast was issued in March. The Asian growth projection for 2010 was also revised upward, from 6 percent to 6.4 percent. Despite worsening conditions...

2009-08-13 08:10:46

France and Germany both said their economies grew 0.3 percent in the second quarter, posting surprise gains in the midst of a global contraction. The 27-nation European Union posted a second quarter slowdown of 1.2 percent, while productivity in the 16-member eurozone shrank 0.4 percent, The New York Times reported Thursday. The economies of both areas -- the European Union and the eurozone -- shrank by 2.5 percent in the first quarter. An export-driven V-shaped recovery in the second half...


Word of the Day
caparison
  • A cloth or covering, more or less ornamented, laid over the saddle or furniture of a horse, especially of a sumpter-horse or horse of state.
  • Clothing, especially sumptuous clothing; equipment; outfit.
  • To cover with a caparison, as a horse.
  • To dress sumptuously; adorn with rich dress.
This word ultimately comes from the Medieval Latin 'cappa,' cloak.
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