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Stories I'm watching this Wednesday: Congressional Budget Office scares the heck out of everyone, sees recession lasting all year, deficit topping $1 trillion and unemployment climbing to more than 9% by 2010 Economic damages turns personal (again) as real estate executive kills himself Family Dollar proves Wal-Mart doesn't have monopoly on recession ... read more

Today Barack Obama will give what he is calling a "major" speech on the economy.   The Wall St Journal has a preview of some of his prepared remarks.   That should occur around 11:00am ET.   Obama has said that the deficit could reach more than $1 trillion dollars.  With nearly daily speeches on the economy and announcements of job appointments one wonders when when the President-Elect ... read more

Stories I'm watching over the weekend: Obama details his jobs plan (see my previous blog entry) Some commentators are already criticizing parts of the plan, saying the tax changes won't work Citibank's run as one giant company may be coming to an end Need a job?  Move to D.C. State of California finally starts to get serious about cost cuts; ... read more

Stories I'm watching this Monday: Bernie Madoff remains free on bail, can stay in his multi-million dollar apartment 3.6 million new jobs?   Major economic group says that may need to be 5.6 million since another 2 million jobs may be lost Citigroup may still need more capital, likely to sell most of its Smith Barney unit BusinessWeek makes the case for tax cuts Circuit City ... read more

Stories I'm watching this Tuesday: Waiting for Madoff trial?  You may wait forever as his lawyer seeks plea deal Madoff not only remains in his elegant penthouse but he does it in very expensive clothes Bad sign for economy?  Two leading indicator companies give lousy quarter Seeking Alpha: Hold off buying that house, mortgage rates may fall to 3.5% Ah, ... read more

Stories I'm watching this Friday: Everyone lives, the pilot averted disaster by ditching in the river, and ordinary humans acted like heros.  So what's the over/under on how long before one of the passengers sues U.S. Airways? Why are birds becoming a much more common problem for air travel? Venezuelan dictator realizes he needs American help in the oil business Peru must not ... read more

Stories I'm watching this Monday: Warren Buffett says the U.S. is in an "economic Pearl Harbor" Corporate America will have to finance its own $700 billion dollar bailout Eco-friendly inauguration?    Think again as 450,000 commuters trump using horse dung as manure and organic salad for dinner We love our cars in America ... but not as much as Iceland, Italy and ... read more

Stories I'm watching on this historic Tuesday:  Obama elected President but the optimism in Washington doesn't translate into the economy as banks take another big hit No Obama bounce as Dow posts biggest inaugural day loss ever, Roubini says banks "effectively insolvent" How many people were really in D.C. today? Given the crowds in Washington today ... read more

Stories I'm watching this Wednesday: Obama needs to fix the banks, fast Busy yet?   Watch the banks again today as Citigroup falls to under $3 bucks.  Other banks tumbling as the new President has to hit the ground running and Treasury Secretary appointee Tim Geithner begins his confirmation hearings Fiat bailout?  Chrysler needs $3 billion dollar loan to sell ... read more

Thursday stories: Surprised?  Big politics comes into big play in the bank bailout Sign of a real bottom?   Insiders buying shares of Bank of America and JPMorgan Chase FT: Merrill paid billions in bonuses just before Bank of America sale Morris: Here comes socialism and the creation of a permanent voter majority California home prices read more