Recession
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The U.S. economy is at the onset of the first consumer recession since the early 1990s, and it's facing headwinds comparable to the six-quarter recession that pushed the Standard & Poor's 500 Index down 40 percent in the 1970s, said David Rosenberg, chief North American economist for Merrill Lynch.
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Today on CNBC, Merrill Lynch CEO John Thain gave an exclusive interview, and the chairman of Rosen Real Estate Securities claimed that economic recession has only just begun. What follows are today's top videos:
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CNBC's Steve Liesman goes fishing with the financial pros at the annual Economic Finance Retreat at Leen's Lodge fishing village in Maine. Here's what the experts had to say about the state of the economy.
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This week's problems at Fannie Mae and Freddie Mac are more evidence of a painful fact for the economy: the extent to which mortgage-related debt is exacerbating the current slide, and how it will prolong what more and more analysts are calling a recession.
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Cramer last week offered up his prediction of potential winners from the new Medicare bill -- the one that passed in the Senate yesterday. (President Bush has said he'll veto -- but it already passed by a veto-proof margin.) The good news is that Fresenius Med (FMS), Cramer's fave of the bill, got bumped to a 52-week high today with three points. But what about the losers of the Medicare bill -- the new offenders headed for the Sell Block?
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Cramer continued with his "Cramerican Marine Field Guide to Recessions" reflecting on the 1990 Playbook (the last time we had a financial meltdown) where healthcare stocks, especially biotech were the winners then, and in Cramer's view are likely to do it again.
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Cramer tells what works in the Wall Street fashion show, what gets the big money guys to turn their heads and say, “ah, I want to own that right now,” or "I want to dump that right now", for the exact situation we’re facing.
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Foreclosures, good debt, shopping tips and more. Check out what you missed this past week On the Money.
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One sector in particular is up despite a previous beat-down. Is this a sign?
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It seems Ben Bernanke has painted himself into a corner. Raising rates to fight inflation could tip the economy into recession. Suggestions anyone?
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Even the upper crust of society is beginning to realize that, now more than ever, it pays to be frugal.
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Property values in U.S. cities are expected to tumble by $1.46 trillion in 2008 due to the housing downturn and subprime mortgage crisis that has pushed the U.S. economy to the brink of recession, American mayors were told Friday.
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The "latte effect" of the go-go years had consumers spending $4 a day on coffee. Now the downturn is forcing them to rethink the wisdom of such habits.
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The credit crisis is not over, and losses in the financial sector are set to be around $1.3 trillion, according to star hedge fund manager John Paulson, who says he remains short credit.
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Here's a roundup of what we've been discussing here this week. And remember, you can always e-mail me your questions and comments.
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The $48 billion in tax rebates sent out to American consumers this spring has helped keep the US economy out of a recession, but analysts believe the impact may only be temporary. .
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Use this tough economy to your advantage. Build the right financial habits to cope with the next recession. And the one after that.
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Americans see a better-than-even chance their stock portfolios will lose value this year, and their outlook for equities is the weakest in five years.
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A crucial jobs report Friday will shed new light on the fate of our fragile economy. What should you expect?
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U.S. data is pointing to an economy that is still chugging along, albeit slowly, yet consumers are behaving as if the country is in the throes of the deepest downturn in decades.