Governors Seek Bailout for Automakers

So not only do the banks need a bail out but apparently automakers do to. The governors of Michigan, Delaware, Kentucky, New York, Ohio and South Dakota petition Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke for action to help the countries struggling automakers.

Fed Funds May Enable GM-Chrysler Deal

Hurting by both the credit crisis and this summer's high in gas prices, automakers may soon be from our tax dollars for in their assistance. This could also help funding for General Motors to acquire Chrysler.

Mortgage Crisis

Thousands of Americans lost their homes each day over the last quarter as they failed to keep up with their mortgage payments.

Mortgage Crisis

Thousands of Americans lost their homes each day over the last quarter as they failed to keep up with their mortgage payments.

Oil Still Falls Despite OPEC's Moves

Opposing OPEC's most recent move to reduce supply, crude oil futures go back to last week's fall, "driven below $63 per barrel in intraday trading by economic uncertainty around the globe." Gas prices have also fallen by about $1 per gallon in the last month.

the dying economy

I attended a poetry recital recently. In between recitals, the host opened up discussion to concerns such as education, the economy, health care- basically all kinds of politics. The main topic of discussion was the diminishing middle class. They said the middle class is panicking, they dont have this or that, but now they know what a typical African-American is born into and exposed to everyday. "They wait until the upper class is in jeopardy before they finally do something about our everyday struggle."

Oil Falls to 16-Month-Low $66.75 a Barrel

New evidence of sliding demand for fuel pushes the price of crude oil futures below $67 per barrel, a level last reached in June 2007. Oil prices have fallen more than 54 percent from crude's all-time high, reached in July.

How Bad Could a Recession Get?

Some economists say the nation's economy contracted from July to September, and many expect it to continue shrinking through the first half of 2009, resulting in a despression. How bad could a recession actually get, and how can we get out of it. I think Obama can help and may be our answer!

Bargains Abound in this Battered Market

It's a well known marketing rule..."Buy low, sell high." The market may take a while to go back to its goodstanding which was about 12 months ago. "In his weekly Comfort Zone Investing feature, BloggingStocks contributor Ted Allrich suggests a list of undervalued companies poised for a strong comeback." I think as a result of the economies current status many businesses will future and as for the buying love and selling high rule many businesses may have to sell even higher. This would effect whether the consumer will buy certain products or not or even if they can afford them or not.

Tech Rivals Set to Report Earnings

Being that the stock market is back in business, investors shift focus to the fundamentals: earnings season. Will Apple and Microsoft echo the strong third-quarter results reported last week by Google and IBM? BloggingStocks contributor Trey Thoelcke offers his preview of this week's earnings.

Banco Santander to Acquire Sovereign

Echoing a wave of earlier consolidation in the banking industry, Banco Santander of Spain, which already owns 25 percent of Sovereign Bancorp, agrees to buy the remaining stake in the large Philadelphia thrift.

GM Announces 2 Plant Closures

General Motors announced that it would stop operations at a Wisconsin plant that makes the GMC Yukon and the Chevrolet Tahoe and Suburban SUVs in December. The company also disclosed that it will close a Michigan metal stamping plant. These closures will affect more than 2,500 employees.

Has the Market Finally Turned a Corner?

Stats show that our once crippled market may be making a slight turn-around. Today the market has closed with 900 points...a record-breaker.

How the Economy Affects You: Job Market

Some economists predict that by 2009, 1 million jobs will be lost. How frightening is that? A lot of the job losses are due to the failing economy, and part of the failing economy is due to outsourcing and illegal immigrants working for low pay. Go figure. If we weren't outsourcing, there would be more jobs available to U.S. citizens. If we really cracked down on illegal immigration, cheap labor wouldn't be an option to employers and more Americans would have jobs. If more jobs were available to Americans, the economy would be so much better because more people would have money to put into the economy. But people can't put money into the economy if they can barely afford to take care of their own families, right? What a tangled web!

Wall Street's Fault, Not Mine

Where did this economic mess begin? It pretty much came from several years of carelessly granting morgage loans and negotiations made through Wall Street. In 2001, professionals and officials knew the idea of a recession was not farfetched, so the Federal Reserve come up with this "genius" idea to slash morgage loan rates to 1% to bring back the economy, which, in turn, allowed people to basically buy homes they couldn't afford, causing them to default on their loans, which killed the economy within a matter of years. Simultaneously, Wall Street decided to split the riskiest morgages amongst several different investors to trade and sell. Unfortunately, people defaulted on their loans causing the housing market to crash.

In order to fix our little predicament, we need some money, right? Of course we do! And where will a lot of it come from? Oh, you guessed it; TAXPAYERS LIKE YOU AND ME! I don't own a house, never tried to buy one either. I can barely keep up with the stock market. I had nothing to do with this, so my question is, why am I paying for it?