Forex News and Rumors – Afternoon Update

U.S. Deficit on Track to Break $1 Trillion

Industry experts say that the U.S. deficit could break $1 trillion by the end of the 2009 fiscal. The federal government has already run up a record deficit of $485.2 billion in the first three months of fiscal 2009 alone. More

Property Values in Ireland Expected to Continue to Plunge

Further evidence to Ireland’s dramatic collapse was presented by University College Dublin professor Morgan Kelley who predicted that house prices would fall by 80 percent from the peak of just two years ago.

“Construction, but not demolition, of residential and commercial property will fall to zero for the foreseeable future,” he said. More

Obama to Limit Executive Compensation

A spokesperson for President-elect Barack Obama said today that Obama will order the Treasury Department to limit total executive compensation for financial institutions that receive assistance as part of the $700 billion Troubled Asset Relief Program (TARP). More

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