Australia: People's bank to break the Big Four: The so-called people's bank would be similar to New Zealand's successful Kiwibank, which was set up to break the dominance of the Australian-owned majors.
Big Banks Don't Want California's IOUs: A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap.
Unemployment, Not the Stock Market, Distinguishes a Recession From a Depression:What are the most important and enduring characteristics of the Great Depression? And what should we monitor to determine how severe today’s situation really is?
Apartment Vacancy at 22-Year High in U.S., Says Reis : Job losses and falling wages are shrinking the pool of potential renters, defying forecasts that prospective homebuyers would rent rather that purchase as house prices decline.
True unemployment rate already at 20%: Not to scare you, but the situation is actually worse than it seems.
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