The Standard & Poor's 500 index fell to April 1997 levels Monday, while the Dow Jones industrial average, down about 215 points, reached its levels of October 1997 as investors succumbed to their growing worries about a recession that has no end in sight.
The S&P Case-Shiller National Home Price Index reported that prices sank a record 18.2% during the last three months of 2008, compared with the same period in 2007.
Both the number of unemployed persons (11.6 million) and the unemployment
rate (7.6 percent) rose in January. Over the past 12 months, the number of un-employed persons has increased by 4.1 million and the unemployment rate has risen by 2.7 percentage points.
The government owns $52 billion in Citigroup preferred shares, more than five times the value of the bank's common stock as of last week.
It's nice to know that when I am living in someones garage I can still have a really cute 'fridge...
...to keep my 99 Cent Store produce fresh
...while I look for a job
Hmmm, have I paid my taxes??