August 4, 2011 |
Joining a growing chorus of economists raising alarms about a double-dip recession, former top White House economic advisor Lawrence Summers said there's at least a 33% chance the faltering U.S. economy will slip into another economic downturn. Summers, who stepped down at the end of last year to return to Harvard University, also predicted that the unemployment rate would be above 8.5% at the end of next year. The rate was 9.2% in June, with July numbers coming Friday. "With growth at less than 1% in the first half of this year, the economy is effectively at a stall and facing the prospects of shocks from a European financial crisis that is decidedly not under control, spikes in oil prices and declines in business and household confidence," Summers wrote in an opinion article in Wednesday's Washington Post.
March 21, 2013 |
Double-dipping -- it's the gravest of party fouls. Well, if you don't count passing out on someone's front lawn, breaking a window or accidentally knocking over an entire bottle of liquor. But, it's up there with the worst things you can do. Dip once, you're good. Dip twice, you get the boot. But if you've ever been at a party and thought you could sneak in a double-dip, you're not alone. In honor of National Chip and Dip Day, which happens to be Saturday, Tostitos commissioned Ketchum communications agency to conduct a survey about double-dipping.
July 24, 2010 |
They don't seem too worried about a "double dip" global recession in Germany, the world's second-largest exporter. The country's stock market has rallied back to within 3% of its spring high. In Indonesia, the fourth-largest nation by population, the economy is so good that the stock market already has recouped all its 2008 decline and this week hit a new all-time high. On Wall Street, even as fears about the domestic economy have deepened over the last two months, the interest rates that investors have been demanding to lend money via "junk" corporate bonds have fallen — which isn't what you'd expect if the bond buyers figured another economic downturn was just around the corner.
August 22, 2012 |
WASHINGTON - Republican lawmakers investigating the Fast and Furious program want to know why a top official who oversaw the failed gun-tracking operation was allowed to stay on paid leave while taking a second full-time job in the private sector - an arrangement that is netting him two six-figure salaries. William McMahon, then the deputy assistant director for field operations for the federalBureau of Alcohol, Tobacco, Firearms and Explosives, supervised the Phoenix-run Fast and Furious program, which allowed weapons to be illegally sold so they could be tracked to Mexican drug cartels.
September 30, 2002 |
The barrage of economic reports due this week is likely to steal the spotlight as investors search for signs that the dreaded "double dip," when the economy falls back into recession for a second time in quick succession, is at bay. The head of an elite panel that decides U.S. business cycles said the recession may have ended as early as last November, but his group won't formally declare it over until it rules out a renewed slump.
March 30, 1985 |
The NCAA Basketball Championship numbers game is down to four today, or "The Final Four," as the scribes like to dramatically label it. CBS covers the action from Rupp Arena in Lexington, Ky., beginning at 12:30 p.m., Channels 2 and 8, with the first semifinal featuring the Villanova Wildcats (23-10) vs. the Memphis State Tigers (31-3). That will be followed by the other semifinal, pitting the Georgetown Hoyas (34-2) against St. John's (31-3).