Economy News for Sat 28 Aug 2010

[Cheryl Nelson]

Gov't Set To Confirm What Many Feel: Economy At A Standstill http://www.foxnews.com/us/2010/08/27/snapshot-economy-lot-bleaker/ Economic Collision Course: The Crash Of 2010 http://standeyo.com/NEWS/10_Economy/100827.crash.2010.html "As every driver knows, in the moment before a collision there’s a gap – a split second – between recognition of the crash to come and the impact. In economic terms, that gap was the period between August 2007 (when we pinpointed an imminent financial crisis) and now … August 2010. Now there is only the “split second.” On the macro-level, and for those who invested everything they had in “Recovery,” there will be no avoiding the “Crash of 2010.” On the individual level, there is still time to take both evasive action and proactive measures." Snapshot Of An Economy About To Get A Lot Bleaker http://apnews.myway.com/article/20100827/D9HRP2DG1.html Struggling Cities Shut Firehouses In Budget Crises http://www.nytimes.com/2010/08/27/us/27cuts.html?_r=1&ref=global-home Mish: 10 Leading Retailers Close Stores; Exodus Of Small Retailers Amidst Signs Of "Free Rent" http://globaleconomicanalysis.blogspot.com/2010/08/10-leading-retailers-close-stores.html Blockbuster To File For Bankruptcy In September http://www.nypost.com/p/news/business/blockbuster_to_file_for_bankruptcy_7Q0Ls3XnELDuQXGxdniESM?CMP=OTC-rss&FEEDNAME=#ixzz0xpLhy18X Bernanke Says Economy Remains Vulnerable http://abcnews.go.com/Business/bernanke-economy-remains-vulnerable/story?id=11495986 Expert: Economy Caught In Depression, Not Recession http://www.cnbc.com/id/38831550 Top Economists: The Second Great Depression Has Arrived http://www.helium.com/items/1933168-us-in-economic-great-depression Youth Unemployment Lowest Since 1948 http://www.mcclatchydc.com/2010/08/27/99763/bad-statistics-for-summer-employment.html Fed Seeks Delay Of Bank Data Release http://www.bloomberg.com/news/2010-08-25/fed-seeks-stay-of-ruling-requiring-release-of-u-s-bank-bailout-documents.html US Warned By S&P Its AAA Credit Rating At Risk http://www.cnbc.com/id/38861560