Money and Financial Lifestyle

Comparing the Case-Shiller housing index with the unemployment rate for past real estate bubbles shows housing prices declined for a few years after the unemployment rate peaked. This suggests that housing prices will not bottom (in real terms) until well after the unemployment rate peaks

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Housing Prices and the Unemployment Rate

A bankruptcy judge says GMAC can become Chrysler’s preferred lender. Pending the completion of certain documentation, U.S. Judge Arthur Gonzales on Tuesday approved the deal between Auburn Hills, Mich.-based Chrysler LLC and GMAC Financial Services.

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Judge OKs deal to make GMAC top Chrysler lender (AP)

General Motors Corp stock plunged more than 22 percent to a 76-year low on Tuesday, a day after GM’s top executives dumped their shares as the automaker heads toward a bankruptcy or a restructuring that would all but wipe out existing shareholders.

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GM shares fall to 76-year low after execs dump stock (Reuters)

Improved credit markets have brought stabilization to the economy but it is still not clear when growth will resume, General Electric Co Chief Executive Jeff Immelt said on Tuesday.

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GE CEO says economy stabilized, growth a question (Reuters)

An estimated 32.4 million Americans are expected to travel this Memorial Day weekend, most of them taking advantage of a plunge in gas prices compared with last year, AAA said Tuesday.

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AAA: more expected to travel for Memorial Day (AP)

The financial health of the government’s two biggest benefit programs may have slipped over the past year, reflecting the deep recession that has already bitten into other areas of the budget.

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Annual report due for Social Security and Medicare (AP)

China’s exports slumped for the sixth straight month amid warnings that weak overseas demand was hindering a recovery, even as government spending helped boost factory investment.

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China’s exports sink, but factory investment rises (AP)

Investor hopes that the U.S. recession may have bottomed out propelled oil prices well above $59 a barrel on Tuesday

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Oil above $59 on signs US recession is easing (AP)