Main Street 9

General Motors and Chrysler LLC said Tuesday they could need an additional $21.6 billion in federal loans between them because of worsening demand for their cars and trucks.
The two firms, in documents submitted to the Treasury Department, also detailed plans to cut 50,000 jobs worldwide by the end of the year. GM said it plans to [...]

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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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Gas prices fell back, yet again, marking the sixth straight decline, according to a nationwide survey of credit card swipes at gasoline stations.
The average price of unleaded regular dropped 1.3 cents to $3.726 a gallon, from $3.739 a gallon, according to the survey released Tuesday by motorist group AAA. While prices have now dropped [...]

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 Americans are feeling a lot more economic pain than the government’s official statistics would lead you to believe, according to a growing number of experts.
They argue that figures for unemployment and inflation are being understated by the government.
Unemployment and inflation are typically added together to come up with a so-called “Misery Index.”
The “Misery Index” was [...]

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