CapeCodTimes.com - Retailers report worst January in nearly 40 yearsbsb

CapeCodTimes.com - Retailers report worst January in nearly 40 yearsbsb: "NEW YORK — Here's a sign of how shaky the economy has become: Wal-Mart says its shoppers are redeeming their holiday gift cards for basic items — pasta sauce, diapers, laundry detergent — instead of iPods or DVDs."

Euros Accepted signs pop up in New York City | U.S. | Reuters

Euros Accepted signs pop up in New York City | U.S. | Reuters

Wal-Mart leads parade of huge sales misses - Feb. 7, 2008

Wal-Mart leads parade of huge sales misses - Feb. 7, 2008: "NEW YORK (CNNMoney.com) -- U.S. retailers are on track to report their slowest monthly sales growth in five years, which would further cement fears that American consumers are buckling under the weight of a slowing economy.

Leading the way is No. 1 retailer Wal-Mart Stores Inc., (WMT, Fortune 500) which reported a big miss in its January same-store sales, or sales at stores open at least a year. Same-store sales is a key measure of performance in the retail industry."

Lenders freeze equity lines in response to tumbling property values - The Californian / North County Times - Riverside County -

Lenders freeze equity lines in response to tumbling property values - The Californian / North County Times - Riverside County -: "Several banks issued statements this week saying they were temporarily suspending withdrawals from open home equity lines out of concern that borrowers could owe more than the house is worth."

Greenback Has Lost 30% in Past 7 Years, Becomes "Bernanke Peso"

Greenback Has Lost 30% in Past 7 Years, Becomes "Bernanke Peso": "The dollar has lost 30% of its purchasing power during the last 7 years. Against gold, oil and other key commodities - and other major currencies - it is down much more. In many sunny places with shady finances, this must seem all-too familiar. The ‘banana republics’ did business this way themselves - running up huge debts to overseas lenders… selling off their capital assets to foreign savers… printing money by the boatload… and generally making themselves look ridiculous. Now, the kvetchers are labeling the United States as “the world’s largest banana republic.”"

Asia Times Online :: Asian news and current affairs

Asia Times Online :: Asian news and current affairs: "The recent meltdown in global stock markets is the first truly global financial crisis since the word 'globalization' became widely used. While Latin America and Asia suffered in the 1990s, this crisis marks a wider, possibly deeper set of problems underlining how vulnerable the integrated world economy has become to failures in one part of the globe. What began as worry over tremors in the US mortgage market has become a full-blown confidence crisis."

Press TV - Iran Oil Bourse to deal blow to dollar

Press TV - Iran Oil Bourse to deal blow to dollar: "The long-awaited Iranian Oil Bourse, a place for trading oil, petrochemicals and gas in various non-dollar currencies, will soon open."