New Year 2008 may destroy USA’s struggling economy - Pravda.Ru

New Year 2008 may destroy USA’s struggling economy - Pravda.Ru: "A forecast made by Denmark-based Saxo Bank, chaos will take a grip on the world in 2008. Oil prices will skyrocket to 175 dollars per barrel, the Chinese market will collapse by 40 percent, whereas the U.S. will suffer a 25-percent setback. All this will happen because of the mortgage crisis in the USA which already slows down the U.S. economy."

New Year 2008 may destroy USA’s struggling economy - Pravda.Ru

New Year 2008 may destroy USA’s struggling economy - Pravda.Ru: "A forecast made by Denmark-based Saxo Bank, chaos will take a grip on the world in 2008. Oil prices will skyrocket to 175 dollars per barrel, the Chinese market will collapse by 40 percent, whereas the U.S. will suffer a 25-percent setback. All this will happen because of the mortgage crisis in the USA which already slows down the U.S. economy."

Amount of unpaid credit card bills is rising - U.S. business- msnbc.com

Amount of unpaid credit card bills is rising - U.S. business- msnbc.com: "SAN FRANCISCO - Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come."

Crisis may make 1929 look a 'walk in the park' - Telegraph

Crisis may make 1929 look a 'walk in the park' - Telegraph: "As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues things are rapidly spiralling out of their control

Twenty billion dollars here, $20bn there, and a lush half-trillion from the European Central Bank at give-away rates for Christmas. Buckets of liquidity are being splashed over the North Atlantic banking system, so far with meagre or fleeting effects."

US foreclosure filings up 68 pct in Nov. - Yahoo! News

US foreclosure filings up 68 pct in Nov. - Yahoo! News: "LOS ANGELES - U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68 percent nationwide compared with the same month a year ago, according to a mortgage research company."

AFP: Bush sees 'storm clouds' over US economy

AFP: Bush sees 'storm clouds' over US economy: "FREDERICKSBURG, Virginia (AFP) — US President George W. Bush on Monday said the US economy was basically strong but warned of 'storm clouds' in the form of a credit crunch and what may be a bursting housing bubble."

Daily Times - Leading News Resource of Pakistan - Russia may dump weakening US dollar in its energy deals

Daily Times - Leading News Resource of Pakistan - Russia may dump weakening US dollar in its energy deals: "Alternative oil exchanges, where other currencies would be used, could change the situation. But the USA and their allies strictly control this issue. Saddam Hussein tried to organize such an oil exchange, but it was just on the eve of the US intrusion."

Report Says That the Rich Are Getting Richer Faster, Much Faster - New York Times

Report Says That the Rich Are Getting Richer Faster, Much Faster - New York Times: "Earlier reports, based on tax returns, showed that in 2005 the top 10 percent, top 1 percent and fractions of the top 1 percent enjoyed their greatest share of income since 1928 and 1929."

House prices seen falling 30 pct | Special Coverage | Reuters

House prices seen falling 30 pct | Special Coverage | Reuters: "NEW YORK (Reuters) - Housing markets from Punta Gorda, Florida, to Stockton, California, will crash and suffer price drops of more than 30 percent before the housing crisis is over, a report from Moody's Economy.com said on Thursday."