Today’s Economic Headlines

Jobless claim hits 4 million. Highest since July 1992
Crude prices fall below $50 a barrel, first time since May of 2005.
Dow down is down 200 points in early trading, still below the 8,000 mark.
GMAC applies to become a bank.
Japan’s Nikkei drop more than 6% in one day
U.S. dollar is rising
Gold rises on to $750 an ounce. A gloomy economy is pushing the prices higher.

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