The Greek Parliament has just passed a plan for new austerity measures, but tensions remain high on the streets, showing that frustration levels are only growing. Meanwhile in the UK half a million public sector workers took to the streets to protest governmental plans to change their pensions and freeze pay.
In Washington the debt ceiling talks seem to be leading nowhere either – and all of this is backed by some more bad news: the latest jobless numbers are in and last week jobless claims were at about 428,000. That means for the last 12 weeks jobless claims have remained over 400,000. Gerard Celente, the director of the Trends Research Institute, shares his thoughts.