* How bad is the economy? (John W. Schoen, Newsweek)
The latest news on inflation and unemployment seem to be pointing to a gathering storm in the U.S. economy. A lot of readers are wondering: Just how bad is this downturn going to be?
* Britain heads for year-long battle with deflation (Times Online)
BRITAIN faces a year of deflation falling prices that will add to the pressures on the already deteriorating public finances, analysts say. Figures on Tuesday are set to show the retail prices index (RPI) down by about 0.8% on a year ago, projections by City economists show. This will mark the start of the first period of price deflation for nearly half a century.
* Petro-Canada’s operational struggles (Petroleum Economist)
Cost inflation in the oil sands and a mixed performance elsewhere are disappointing Petro-Canada’s investors. Derek Brower reports
* Unemployment worries triple (Des Moines Business Record)
A poll conducted by CNN/Opinion Research Corp. found that worries about unemployment have nearly tripled during the past year, CNN reported.
* INFLATION WORRIES (John Crudele, New York Post)
Dear John: With all the money being printed by the US government and nobody buying the debt, do you think the US dollar will be devalued? Or will it become like the currency of Zimbabwe, which nobody wants to own? J.C.
* Mortgage rates fall to historic lows (Montgomery Advertiser)
WASHINGTON — Mortgage rates tumbled to historic lows Thursday after the Federal Reserve’s sudden decision to print $1.2 trillion and pump it into the economy, a move that also triggered warning signs of inflation — a weaker dollar and the highest oil prices of the year.
* Back Pain EDBackPain As Back-Pain Spending Rises, Results Worsen (Washington Times)
Eight years have seen a huge increase in spending on back-pain problems in America. Ironically, however, the proportion of Americans suffering from spine problems has actually increased, too, according to a recent study.
* Inflation rate rises to 4.1% in metro area (David Milstead, Rocky Mountain News)
Denver-area inflation was 4.1 percent in the second half of 2008, the Bureau of Labor Statistics reported Friday.
* Britain hit by deflation for first time since 1960 (Times Online)
BRITAIN will be entering an era of deflation this week with the retail prices index (RPI) recording its first 12-month fall since 1960.
* MO’ MONEY: Financial crisis not just in United States (The Daily Aztec)
For the past month, writers and reporters have been infatuated with our countrys current financial situation. It seems like every day there is a new title being flashed across the front page of newspapers, depicting further economic and financial turmoil. Its depressing, reading headlines day after day titled: Economic Outlook Darkens, Credit Markets Have Bottomed Out, Outlook Grows Gloo…