CNNMoney: Is the U.S. like Greece?

AMERICA'S DEBT CRISIS
Is the U.S. like Greece?
By Jeanne Sahadi @CNNMoney June 19, 2011: 11:15 AM ET

NEW YORK (CNNMoney) -- Deficit hawks often cite Greece's debt nightmare as a cautionary tale for the United States.

WSJ: Fresh Greek Shock Waves

EUROPE NEWS|JUNE 16, 2011
WSJ: Fresh Greek Shock Waves
Violent Street Protests in Athens Shake Government, Spark Global Market Woes
By COSTAS PARIS, ALKMAN GRANITSAS and BRUCE ORWALL

ATHENS—Greece shook global markets, intensifying fears of a default, as tens of thousands of demonstrators protested a new round of budget-cutting plans and its prime minister offered to step down to try to preserve them.

Bloomberg: Default by Greece ‘Almost Certain’: Greenspan

Related News: Economy, Eastern Europe, France, Germany, Italy
Default by Greece ‘Almost Certain’: Greenspan
By Vivien Lou Chen - Jun 17, 2011 8:46 AM GMT+0900

Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the U.S. economy into recession.

Moody’s: Foreclosure Delays Prolong U.S. Housing Correction

Foreclosure Delays Prolong U.S. Housing Correction

- The housing correction will take a little longer than had been expected.
- Resolution of processing issues should be reached by the fall.
- House prices should hit bottom in 2012.

Bloomberg: Greek Bank Threat is Main Stability Risk: ECB

Related News: Economy, Europe, Finance
Greek Bank Threat is Main Stability Risk: ECB
By Jeff Black and Jana Randow - Jun 16, 2011 12:00 AM GMT+0900

The European Central Bank said the threat of the Greek debt crisis spilling over into the banking sector is the biggest risk to the region’s financial stability.

CNNMoney: Inflation picks up speed

RECOVERY AT RISK
Inflation picks up speed
By Chris Isidore @CNNMoney June 15, 2011: 9:28 AM ET

NEW YORK (CNNMoney) -- The pace of inflation continued to climb in May, as the recent pullback in gas prices was not enough to ease the strain on consumers' wallets.

Bloomberg: Debt Limit ‘Wrong Tool’ to Force Cuts: Bernanke

Related News: US, Bonds, Economy
Debt Limit ‘Wrong Tool’ to Force Cuts: Bernanke
By Caroline Salas Gage and Joshua Zumbrun - Jun 15, 2011 4:43 AM GMT+0900

Federal Reserve Chairman Ben S. Bernanke said the U.S. debt ceiling shouldn’t be used as a bargaining chip to force budget cuts, and failing to raise it could cause “severe disruptions” in financial markets.

Bloomberg: Retail Sales in U.S. Fall Less Than Estimated; Demand for Autos Declines

Related News: U.S. · Bonds · Economy · Retail · Municipal Bonds
Retail Sales in U.S. Fall Less Than Estimated; Demand for Autos Declines
By Shobhana Chandra - Jun 15, 2011 5:38 AM GMT+0900

Sales at U.S. retailers fell less than projected in May, showing consumers were weathering elevated gasoline costs.

CNBC: US Housing Crisis Is Now Worse Than Great Depression

US Housing Crisis Is Now Worse Than Great Depression
Published: Tuesday, 14 Jun 2011 | 12:04 PM ET
By: Jeff Cox
CNBC.com Staff Writer

It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.

Bloomberg: Chinese Mount Global Homebuying Spree as Governments Squeeze Local Markets

Related News: Asia, China, Real Estate, Emerging Markets, Economy, Finance, Retail
Chinese Mount Global Homebuying Spree as Governments Squeeze Local Markets
By Kelvin Wong, Nichola Saminather and Hui-yong Yu - Jun 14, 2011 1:00 AM GMT+0900

On a sunny Saturday in early June, Larry Zhou strolled the floor of a property exhibition in Hong Kong, wondering whether it was time to buy another home -- not in the city, where residential prices have soared 50 percent in the past two years, but maybe in Thailand or Malaysia.