Home Prices Record Plunge; U.S. Trade Gap Grows; Social Security Funds Running Out Early; Citigroup Lends Most TARP Money; Big Shipper Maersk Posts Loss; EU To Do Bank Stress Tests

U.S. home prices posted their biggest drop on record during the first quarter, with the median price falling 14% to $169,000 from a year earlier, the National Association of Realtors said. Prices fell in 134 of 152 metropolitan areas, with values plunging the most in Florida and California. The U.S. trade deficit grew 5.5% to a smaller-than- forecast $27.6 billion, dropping for the first time in eight months.  The gap widened as exports slumped to a two-year low, overwhelming shrinking imports, reflecting reduced American demand for goods made abroad. The report buoyed hopes that a record contraction in global trade flows may be easing. “It’s ...

In sports, championship-caliber teams all have at least one characteristic in common: They’re able to focus on the fundamentals.

With the U.S. unemployment rate jumping to its highest level  in a quarter century in February, it’s become abundantly clear that that the U.S. recession is much deeper than President Barack Obama anticipated, meaning it’s likely that additional measures will be undertaken to arrest the slide and restart growth.

Many experts are now calling for the Obama administration to focus on the fundamentals – fundamental economics, that is. They want him to drop some of its ancillary pet projects – such as healthcare reform – and are telling President Obama to focus all his time and the government’s resources on three things:

Arresting the economy’s slide. Hastening its subsequent rebound. And fixing the U.S. banking system.

A focus on anything else is just a diversion and is a waste of time – especially because  there are

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In sports, championship-caliber teams all have at least one characteristic in common: They’re able to focus on the fundamentals. With the U.S. unemployment rate jumping to its highest level  in a quarter century in February, it’s become abundantly clear that that the U.S. recession is much deeper than President Barack Obama anticipated, meaning it’s likely that additional measures will be undertaken to arrest the slide and restart growth. Many experts are now calling for the Obama administration to focus on the fundamentals – fundamental economics, that is. They want him to drop some of its ancillary pet projects – such as healthcare reform – and are telling President Obama to focus all his time and the government’s resources on three things: Arresting the economy’s slide. Hastening its subsequent rebound. And fixing the U.S. banking system. A focus on anything else is just a diversion and is a ...