IMF economist warns of “Great Depression”: The top economist at the International Monetary Fund, Olivier Blanchard, warned earlier this week that continued declines in consumer spending would set off a global depression. "Consumer and business confidence indexes have never fallen so far since they began. The coming months will be very bad," he told the French newspaper Le Monde, as reported by Agence France-Presse.
Holiday Sales Drop to Force Bankruptcies, Closing: U.S. retailers face a wave of store closings, bankruptcies and takeovers starting next month as holiday sales are shaping up to be the worst in 40 years.
Cash-strapped states cut juvenile justice programs: State budget cuts are forcing some of the nation's youngest criminals out of counseling programs and group homes and into juvenile prisons in what critics contend is a shortsighted move that will eventually lead to more crime and higher costs.
Cash-strapped states weigh selling roads, parks: Minnesota is deep in the hole financially, but the state still owns a premier golf resort, a sprawling amateur sports complex, a big airport, a major zoo and land holdings the size of the Central American country of Belize.
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