Main Street 9

Only good economic news lately has been the collapse of oil prices. At the beginning of July, just five months ago, the price of a barrel of was more than $140. By the beginning of December, it was down to about $45. That’s a drop of more than two-thirds. In the U.S., we consume about [...]

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The White House said a disorderly bankruptcy in the motor industry would be a huge blow which the US economy could not withstand.
Meanwhile General Motors said it was temporarily stopping some production.
And Honda is also to cut back output in North America.
GM, which has been pleading for an emergency government loan to avert collapse, said [...]

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