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The Guardian reports the Global recession claims 67,000 jobs in a day. More than 67,000 jobs were destroyed today as corporations across the U.S., Britain, and Europe announced lay offs.
Big companies around the globe lay off tens of thousands, adds the NY Times. “The United States economy has dropped some 2.59 million jobs since the recession began in December 2007, and unemployment rose to 7.2 percent last month. Economists worry that the economy could now be losing as many as 600,000 jobs a month, and they said Monday’s layoff announcements served to underline the stricken state of the labor market.”
And the Banking crisis topples its first government, adds The Guardian. In Iceland, Prime Minster Geir Haarde “announced the immediate resignation of his government because of the country’s severe financial crisis, which saw the collapse of the currency and banking system.”
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The LA Times reports Vice President Biden expects more U.S. casualties in Afghanistan.
“We’ve inherited a real mess” in Afghanistan, Biden said. “We’re about to go in and try to essentially reclaim territory that’s been effectively lost. . . . All of this means we’re going to be engaging the enemy more now.”
Four at Four continues with an update from Iraq, China denies currency manipulation, and change in Bolivia.