The sharp contraction of the us economy accelerated in the last three months of 2008, with official figures showing GDP shrinking at an annualised rate of 3.8%.
With forecasters already predicting the worst U.S. recession since World War II, how big a danger is there that the U.S. economy will slip into a depression similar to the 1930s?
The latest figures paint a gloomy picture of the U.S. economy.
More at BBC
Item Two
The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the shrub's and cabal's junta and their average income doubled to $263.3 million, new IRS data shows.
More at Bloomberg and New York Times
Item Three
Exxon mobile corp. on friday reported a profit of $45.2 billion for 2008, breaking its own record for a u.s. company, even as its fourth-quarter earnings fell 33 percent from a year ago.
The previous record for annual profit was $40.6 billion, which the world's largest publicly traded oil company set in 2007.
More at Yahoo News and Washington Post
Item FourJ P Morgan Chase protected itself, but not its clients, from Bernie Madoff's swindles.
More at New York Times.
Item Five
Suicides in the US Army are at their highest ongoing levels since the aftermath of the Vietnam war.
More at Associated Press.
Item Six
A US District Judge has ruled that the names of people who contributed to California's anti-gay Proposition 8, names already publicly listed per the law, will remain publicly listed.
In other words, no special rights for bigots.
More at sfist.com.
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