Updates on Economy

Today's financial collapse headlines:

Associated Press: Financial Crisis is 'Unprecedented' in Modern Times

Whiskey and Gunpowder: Iceland's Fall a Harbinger of Global Collapse

Sixty Minutes: Retirement Dreams Disappear with Vanishing 401(k)s

Farming UK: United States Banking Crisis Affecting Farmers' Planting

UK Independent: Britain Faces Massive Losses as Crunch Costs Spiral

UK Telegraph: Britain’s Budget Deficit Threatens to Hit 12% of its GDP

NY Times: As Britain’s Debt Deepens, Its Outlook is Growing Gloomier

NY Times: For Housing Market, the Bottom Isn't Probably Anywhere

Money Week: More Similarities Exist Between Bust of 1929 and 2009

Market Watch: GM Won't Make $1 Billion Debt Payment Due June 1st

Globe and Mail: Real Unemployment Rate Much Higher than Reported

Globe and Mail: Blame Oil, Not Banks, for the Current Financial Crisis

Seeking Alpha: Shipping Industry Expected Sees Long Duration Crisis

NY Times: Huge Swaths of America's Means of Production Mothballed

NY Times: An Effort to Save Flint, Mich by Demolishing Parts of t

NY Times: Moody's Assigns Negative Grade to All U.S. Municipal Bonds

NY Times: Towns, Cities Reeling from Investments in Municipal Bonds

Bloomberg: Soaring Budget Deficits Will Mean Billions in Bond Sales

Bloomberg: California Plans State Record $6.9 Billion Bond Offering

USA Today: Earnings Reports Show LargeRegional Banks Are Hurting

Sydney Morning Herald: Reported Bank Proftis Masking Major Problem

New Zealand Business Day: Oncoming Wave of Corporate Debt Default

CNN Money: Fallout from Asset Deterioration Estimated at $4 Trillion

New York Magazine: Privileged Class Rages as It Loses its Privileges

Slate: Interactive Map of Vanishing Employment Across the Country

NY Times: As Housing Market Dips, Many Find They're Unable to Move

Wall Street Journal: Market Sends Defaults on Student Loans Soaring

Fortune: Even Elite Universities Hit Hard by the Economic Downturn

USA Today: Public Universities Say They're Expect Hefty Tuition Hikes

USA Today: Scams About Foreclosures, Jobs, IRS Feed on Desperation

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