Restaurants, ATMs, Several electronics and mobile phone stores in Russia, and Aeroflot, the biggest Russian airline, are now refusing to accept CREDIT CARDS in a move not seen since Russia's last financial crisis almost a decade ago.
U.S. economy suffered its sharpest contraction in 7 years in the third quarter as consumers cut spending and businesses reduced investment at the onset of what may be a severe and long-lasting recession. (You mean "Depression?")
Our monetary system explained: Part 1 - Cartels Robbing the Public. Part 2 - How "Money" is Created. Part 3 - Money is Debt. Part 4 - Monetary Reform. Part 5 - Warning About the NWO.
the automaker is exceptionally rich and well positioned for the future. It has about $47 billion in liquid assets, the lowest manufacturing costs in its industry and global leadership in fuel-sipping hybrid cars such as the Prius.
Sony makes about 80 percent of its sales overseas and is vulnerable to fluctuations in exchange rates. A rising yen erodes the overseas profits when converted into the Japanese currency.
The nuclear option is to print money by issuing Special Drawing Rights, in effect acting as if it were the world's central bank.
The World Financial Crisis has hit Kuwait and one of the renowned Banks in Kuwait has stopped trading and possibly gone Bankrupt. Kuwait's government plans to guarantee deposits at local banks after the central bank was forced to step in to suppo
Throughout all of this, we see exhibited by those who presume the powers of omniscience and rational planning, a thorough ignorance not only of the causal factors that continue to produce our horribly disrupted world, but of the...
The Federal Reserve is poised to cut its benchmark rate for the second time in two weeks at a pivotal meeting in Washington on Wednesday, and the European Central Bank yesterday suggested that it would do the same next week.
Price inflation in Zimbabwe skyrocketed to 231 million percent a year! Let`s now have a look at the photos that you may not be able to see anywhere else in the world.
Interest rates may have to be slashed to zero as Britain battles to avoid a full-blown depression, one of the country's leading economists warns today.
Who will forget the images of the dying Russian economy in the midst of the death throes communistic rule in the final days of the old Soviet Union?
Hungary's currency, the forint, has seen a sharp fall, stocks have tumbled and the country has cut its growth forecast for 2009.
Tokyo's Nikkei 225 index closed down 6.4 percent to 7,162.90 — the lowest since October 1982. The losses came despite a report that the government was considering massive capital injection into struggling banks
Asian shares fell on Monday, with Japan's Nikkei briefly hitting its lowest intraday level since 1982, as investors feared fresh moves expected from central banks this week will not be enough to stave off a deep global recession. Trading was c
After a week of growing economic gloom and plunging stock markets, Asian and European leaders meeting in Beijing promised Saturday wide-ranging reforms while UN Secretary General Ban Ki-moon also called for quick change.
How would private coinage work? In the same way, we have said, as any other business. Each minter would produce whatever size or shape of coin is most pleasing to his customers. The price would be set by the free competition of the market.
The depth of the recession was revealed today as truckmaker Volvo admitted demand across the Continent has crashed by 99.7% as it took orders for just 115 new trucks in the last three months.
Markets down more than 70%: Vietnam (-70.5%), Peru (-73.2%), Ireland (-73.4%), Russia (-73.9%), Iceland (-88.7%).
Asian stocks tumbled for a third day Friday on persistent worries that a global recession will eat into corporate profits. Shares of Sony plunged more than 12 percent after it slashed its earnings forecast for the fiscal year.
Mexico will want to buy Texas, Arizona and New Mexico. Russia, of course, will buy back Alaska and Washington State. China will purchase California; San Francisco will become "New Beijing."
Panic-selling returned to global stock markets on Wednesday, with the leading Dow Jones industrial index shedding 5.69 percent, as fears of global recession stalked investors.
Stock markets around the world suffered steep losses Wednesday, with the sell-off particularly strong in Latin America and Eastern Europe, as investors acted on worries that recession is setting in even if financial institutions are being stabilized.
Canada's currency dropped the most since at least 1971 as the U.S. dollar strengthened, crude oil fell to a 16-month low and speculation mounted the country's central bank would extend interest-rate cuts.
Russian companies may default on almost a third of local-currency bonds as soaring borrowing costs make it ``impossible'' to refinance the debt, according to the Bank of Moscow.
The morons in the eurozone have just been given another reminder that continuing to create excessive amounts of money and credit is suicide-by-inflation
The falls came as Bank of England Governor Mervyn King acknowledged a likely recession for the first time and the prospect of deep rate cuts ahead dragged the pound lower.
NEW YORK (MarketWatch) -- Gold futures tumbled 4.3% Wednesday to the lowest level in one year, while copper futures were set for their worst year since 1988 in a broad sell-off that was sending stocks and commodities sharply lower.