Friday, January 02, 2009

Max Keiser: World in deep recession

Economic analyst Max Keiser talks about a deep world recession on al-Jazeera television.

He talks about a "black hole" of American debt created by short-selling and other schemes that is greater than the combined American wealth.

Countries like South Korea and Taiwan have been turning a wary eye on American treasuries making it difficult for the U.S. to finance its recovery plans.

In the latest economic news from the United States, manufacturing fell to a 28-year low in December.

ABC News
Manufacturing falls to 28-year low - 1 hour ago
Manufacturing activity fell to its lowest point in 28 years as factories are slashing capacity in the face of weakening demand, according to an analysis of December factory data released Friday by the Institute for Supply Management.
Manufacturing index drops to 28-year low The Associated Press
US Economy: Manufacturing Shrinks as Orders Hit 60-Year Low Bloomberg