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Capitalism is still alive and well, say the world's two richest men, despite lingering shocks from the longest, deepest recession since the Great Depression.
The world's major countries are pledging to develop goals to fix destabilizing global economic imbalances that helped bring about the worst recession since the Great Depression.
President Barack Obama sternly warned Wall Street against returning to reckless and unchecked behavior that had threatened the nation with a second Great Depression.
Lecturing Wall Street on its own turf, President Barack Obama warned financial leaders not to use the recovering economy to race back into "reckless behavior" that could cause a new meltdown. He declared that a bailout-weary public will not break their fall again.
Federal Reserve Chairman Ben Bernanke has been praised for averting another Great Depression and accused of acting too late to prevent the financial crisis. But most agree that many of his bold actions helped stabilize financial markets and prevent the crisis from deepening.
President Barack Obama announced Tuesday he wants to keep Ben Bernanke on as Fed chairman, saying he shepherded America through the worst economic crisis since the Great Depression.
Last year, as the gravest financial crisis since the Great Depression shook the banking system, Ben Bernanke seemed nearly as beleaguered as the institutions themselves.
Federal Reserve Chairman Ben Bernanke on Friday offered his most optimistic outlook since the financial crisis struck, saying the economy is on the verge of growing again.
Aggressive stimulus spending by governments helped the world avoid a second Great Depression but full economic recovery will take two years or more, Nobel Prize-winning economist Paul Krugman said Monday.
It was — note the past tense — the worst housing recession anyone but survivors of the Great Depression can remember.
The United States and China on Tuesday pledged closer cooperation to deal with global hot spots such as Iran and the worst financial crisis since the 1930s.
The pendulum of government regulation is swinging in a new direction. The government spent most of the past three decades dismantling rules put in place to fix the bad practices that led to the Great Depression of the 1930s. President Barack Obama's financial overhaul plan marks a clear step back toward greater regulation.
President Barack Obama's plan to increase oversight of banks and other financial institutions ran into skepticism Thursday on Capitol Hill where senators sharply questioned whether it was enough to prevent another economic meltdown. The lack of a ringing endorsement suggests the proposal was headed for a rewrite by a Congress sensitive to voter frustration with the government's handling of the economy.
If you’re looking for a provocative comedy that will have you laughing in spite of yourself, search no farther than Sacha Baron Cohen stars as an Austrian fashion reporter who does everything from kiss another man in front of an angry Ultimate Fighting crowd to adopt an African baby and name him O.J. Warning: You will be offended. But that doesn’t mean you won’t laugh. (Opens July 10)
President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression.
A 90-year-old suburban Chicago woman who dropped out of school to help her family during the Great Depression now has her high school diploma.
For generations, General Motors fueled America's love affair with the automobile, building cars that defined their owners' status in life and the industrial might of the nation. But less than a year after entering its second century, the company that survived wars, international rivalry and even the Great Depression is being driven by the government into bankruptcy court.
A Florida man is sending a batch of new baseballs. A car filled with gloves, bats and catcher's gear arrived courtesy of a Columbus man. And an Illinois woman who lived through the Great Depression and has a soft spot for baseball is writing a check.
There's still gold in California's Sierra Nevada foothills, and a new rush is under way to find it.
Calyon Securities analyst Mike Mayo said Monday the default rate on loans will exceed that of the Great Depression.
Haunted perhaps by the ghost of Herbert Hoover, global leaders have steered the world away from a 1930s-style Great Depression by a "very, very, high level of awareness" of the policy errors of his era, a top international economist said as he released an OECD study of efforts to save the world economy.
Many writers and politicians today have been quick to compare the current economy to the Great Depression of the 1930s. President Barack Obama has frequently made this connection, saying things like, “We are going through the worst economic crisis since the Great Depression.”
As the nation grapples with its worst recession since the 1930s, the Smithsonian American Art Museum is opening an exhibition of paintings from the first U.S. government program that supported the arts nationally during the Great Depression.
In sheer size, the economic measures announced by President Barack Obama to address "a crisis unlike we've ever known" are remarkable, rivaling and in many cases dwarfing the New Deal programs that Franklin D. Roosevelt famously created to battle the Great Depression.
Savoring his first big victory in Congress, President Barack Obama on Saturday celebrated the newly passed $787 billion economic stimulus bill as a "major milestone on our road to recovery."
A tale of two American economiesWhile the United States recently reported 3.5 per cent GDP growth in the third quarter, suggesting that the most severe recession since the Great Depression is over, the American economy is actually much weaker than official data suggest.
Depression diary: When the banks went dark'I have some money and checks to deposit but do not know where to go'
The Worst is Yet to ComeWhat is more likely happening is a repeat of the Great Depression. We might have up to a year or so of an economy growing just slightly above stagnation, followed by a drop in growth worse than anything we have seen in the past two years.
U.S. citizens are joining immigrants in store parking lotsIt sounds like a George Lopez joke. "Times are so bad that I saw an Anglo day laborer standing outside Home Depot the other day." Except it's true.
Stealth InflationIn the popular mentality, however, inflation is simply defined as prices rising. After decades of steadily rising prices, people seem to have forgotten that prices sometimes fall.
The New Deal Made Them "Right"As Smith remarked of his harsh treatment at the hands of one-time friends and allies, "Unless you're ready to subscribe to the New Deal 100 per cent and sign your life name on the dotted line, you're a Tory, you're a prince of privilege, you're a reactionary, you're a …
1934 Chicago Tribune political cartoonThis Great Depression era cartoon is our political climate and economic woes looking in the mirror. The same tactics are being used as if borrowed from the corporate oligarch playbook. Lots to see in this cartoon, look at it thoroughly from corner to corner and comment.
The author once attended a retirement seminar sponsored by AG Edwards. The speaker tried to convince the participants that no matter how much money they had saved, they would eventually run out if they lived long enough.
Study of Great Depression shows hard times are good for your healtht's not much fun worrying about your bills and where the next pay rise is coming from. But there is a silver lining – financial adversity could be good for you.
Food stamp list soars past 35 millionsMore than 35 million Americans received food stamps in June, up 22 percent from June 2008 and a new record as the country continued to grapple with the worst recession since the Great Depression of the 1930s.
For more hard-pressed Americans, a campsite is home A gravelly campground off Interstate 40 in central Tennessee is a last refuge for a hodgepodge of Americans: Here you can get a $275-a-month camping spot with a 30-amp electric outlet and a scratchy Wi-Fi signal emanating from "the bathhouse" down the lane.
Would we a better nation if FDR had passed The Economic Bill Of Rights? I hadn't even hear of it til someone else mentioned it, So of course I had to do some research.
The Dubious Monetizing Efforts Of The FedReal business news from Bob Chapman. Fed plans to monetize and cause inflation, Writing off debt no easy task, the big institutions should have been allowed to fail, unemployment and other metrics to move only sideways, trade friction between US and China,
There's a lot of disappointment in the government for its lack of energy and accomplishment in health care, the stimulus, etc.
"The Cracker Code"-Video History/MusicMusic set to pictures and drawings from the "Great Depression" through a glimps of today in the south.
Krugman: "So it seems that we aren't going to have a second Great Depression after all."Just to be clear: the economic situation remains terrible, indeed worse than almost anyone thought possible not long ago. The nation has lost 6.7 million jobs since the recession began.
The New Truth-TellerPhil Angelides, the former state treasurer of California, is a tough-minded liberal with hands-on knowledge of high finance and the social contradictions in modern capitalism.
Deficits saved the world - Paul Krugman BlogThat's an interesting way to think about what has happened — and it also suggests a startling conclusion: namely, government deficits, mainly the result of automatic stabilizers rather than discretionary policy, are the only thing that has saved us from a second Great Depress …
What did Hoover, Truman, and Eisenhower have in common? Here is something that should be of great interest for you. I didn't know of this until it was pointed out to me.
Cap-and-trade: unread, undead :: Paul Jacob The House just passed the Waxman-Markey cap-and-trade carbon emissions control act. If it passes the Senate, expect the president — the bill's pusher-in-chief — to sign it at first opportunity.
Ever heard of the American Liberty League?The article is from conservapedia.com, so I don't want to hear about a bad source from all the 'dittoheads" out there.
Think The World Is Coming To An End? Depression Oral History-Video/AudioWe tell the story of several people who lived through the Great Depression. What lessons can we learn from their experiences and apply to today's economic climate? 4 min VIDEO.
Italian capitalism … French Capitalism .. German Capitalism …The Agnellis were more than Fiat's controlling shareholders. They have been the de facto royal family of Italian capitalism.
Can the Swiss Model of Alternative Currency Help Americans (and Others) Weather the Economic Crisis?Most people don't know it, but one of the main reasons Switzerland's economy remained stable for so long is that the Swiss maintained an alternative currency system.
Back to the 1930s, Part IThis is a series of excerpts from The Progressive magazine in the 1930s that are especially relevant today. You can find other delectable items in the current issue of The Progressive, which commemorates the magazine's 100th anniversary
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