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Noteworthy News – August 2, 2010

Politics:

What They’re Not Telling You about the Deficit – New York Times

Obama’s message to voters: Things could be worse – Associated Press

Report: BP used excessive dispersants in Gulf oil spill(Coast guard Allowed it) - CNN

Speaker Pelosi wants pre-election tax cut vote - Reuters

IMF Says U.S. Financial System May Need $76 Billion in Capital - Bloomberg

Economy:

China overtakes Japan as No. 2 economy – The China Post

Two economists say in new paper that TARP worked – The Washington Post

14.7 Million (19%) Of US Mortgages Have $770 Billion In Underwater Equity, $2.4 Trillion In Total Debt Impaired – ZeroHedge

The crisis of middle-class America - Financial Times

Steep decline in GDP growth raises alarms – LA Times

Jim Rogers predicts a new recession in 2012 – Telegraph

Retirement? You Must Be Kidding. Workers Are Emptying Retirement Plans To Stay Afloat. – CrooksandLiars.com

Greenspan Says Decline in U.S. Home Prices Might Bring Return of Recession – Bloomberg

Chinese Manufacturing Grows at Slowest Pace in 17 Months as Economy Cools - Bloomberg

Markets:

Wall Street marks best month in a year in July – Reuters

Stocks, dollar ease as soft U.S. economic data - Reuters

Oil rises to near $79, gains 4.35 percent in July – Reuters

Gold lost most since December as safe haven fades – Reuters

Banks:

Growth of Problem Banks (Unofficial) - Calculated Risk

Goldman reveals where bailout cash went – USA Today

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Posted in Economics, Markets, Media, Politics.


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