The World Bank estimates that the global economy will likely shrink for the first time since World War II – at least five percentage points below potential – and emerging markets will suffer the hardest hits with severe long-term implications.

With thinning household budgets, deteriorating retirement and home prices taking a nosedive, Wal-Mart (WMT) is a leading recession retailer. But can it clean up the other casualties in its sector?

Another dollar rally….  Rumors in Ireland…  Trade Deficit narrows…  Retail Sales to disappoint?  And Now… Today’s Pfennig!

We have almost made it to the Christmas break, but before we do, we have two days absolutely packed with reports. Tomorrow morning there will be five reports released, and Wednesday morning has three more.

Well we have made it to the end of another year, and this one has been quite a ride. This is the last full trading week of the year, so barring a huge rally, the Dow, NASDAQ, and S&P will all end the year with losses north of 30 percent.