When it comes to the U.S. credit crisis, we’ve all heard the numbers. The stock market decline wiped out $7 trillion in shareholder wealth. It forced the federal government to commit to $11.6 trillion in bailout programs and stimulus spending. And it’s led to the longest U.S. downturn since the Great Depression.

When India unveiled its annual budget on July 6, it immediately caused a sharp drop in the rupee, as well as a 5.8% decline in the benchmark BSE Sensex stock index that had soared 55% so far this year.

Barring some dramatic – and unforeseen – news this week, expect investors to tread water until Thursday, when the government is expected to release the results of the bank stress tests it conducted on the 19 largest U.S. banks.

After months of speculation, General Growth Properties Inc. (GGP) filed the biggest real estate bankruptcy in U.S. history, ending a futile seven-month effort to refinance its debt.

China’s bold measures to confront the economic crisis make it a great place to invest, says Don Miller. And the best places to find profits are in infrastructure, consumer goods and energy sectors. Don gives seven stocks that have a bright future in China’s economic growth story.

Oil prices have fallen 70% since hitting a record $147.27 a barrel in July, which means in just five months, crude has given up all the price gains it made in the past four years.

The steel business faces its biggest hurdle in 60 years with some analysts predicting double digit production cuts in 2009. Now, a sudden change in China trade policy may spell even more trouble for Western steelmakers, as Beijing is currently considering measures to shore up its ailing steel industry with new export policies.

If there’s a proverb that captures the outlook for the U.S. economy in the New Year, it’s the one that says: “It’s always darkest before the dawn.”

Oil prices could fall as low as $20 a barrel in early 2009, says Jason Simpkins. But don’t expect these low prices to last long. Dwindling investment will prompt a longer-term supply crunch, which will send crude to new record highs. Jason gives seven ways to profit from this coming spike.