Now that things are getting worse by the minute, Putin will likely attempt to shift the blame to -- you guessed it -- the US. America will be made a scapegoat for the global crisis, for manipulating oil markets and for anything else that goes wrong i
Russia is bracing for further unrest as the rouble on Friday slid to a new low against the euro after a succession of moves to devalue its currency.
"The problem, he said, was not that Americans spend too much, but that foreigners save too much. The Chinese have piled up so much excess savings that they lend money to the United States at low rates, underwriting American consumption."
Industrial production fell as much as 8.1% in November from the previous month -- the biggest drop in the measure since the government started releasing comparable figures in 1953 -- as Japanese companies produced less automobiles and other machinery
Japan's contracting economy got more bad news Friday when figures showed that industrial production plunged by its biggest margin ever in November, the jobless rate jumped and household spending fell.
...only five or six global banks have enough funds to survive comfortably throughout 2009. “The rest of the banks, and that means a thousand other banks, don’t have enough money to get themselves through 2009,” added Silva.
Japan should write-off its holdings of Treasuries because the U.S. government will struggle to finance increasing debt levels needed to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni & Co.
“Now you have protesters kicking down doors at police stations, and respectable elderly people saying ‘Well, they’re young and full of enthusiasm, and anyway, they’re right!’” he said.
Japan reported yesterday that its exports plunged a record 27 percent in November, signaling a dramatic deterioration in the world's second-largest economy and the collapse of the export-led boom that had lifted many Asian nations.
The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression.
Icelanders are clamoring to adopt it. Danes and Swedes are having second thoughts about snubbing it in the past. The Poles and Hungarians are accelerating plans to make the euro their money. Global Government is on track.
NAGOYA, Japan (AP) -- Toyota Motor Corp. projected its first-ever operating loss since it began such reports, acknowledging Monday that its nine-year stretch of global vehicle-sales growth had stalled.
LONDON (AFP) — The head of the International Monetary Fund (IMF) warned on Sunday that the economic situation could get even worse in 2009 if governments fail to take firm enough action.
"If we are not able to do that, then social unrest may happen in many countries, including advanced economies. We are facing an unprecedented decline in output. All around the planet, the people have reacted with feelings going from surprise to
You have to wonder why they just don't give money directly to their people, and allow them to use their discretion to invest and consume, rather than use the money to prop up a zombie market at the direction of a central planning bureaucracy.
No. 4 million will then be honored in an on-ice ceremony during the first intermission, where he or she will receive a prize package including:
The Nikkei average rose 1.1 percent on Wednesday, with banking stocks among the biggest gainers after the U.S. Federal Reserve slashed borrowing costs to a record low, prompting a rally on Wall Street.
On Dec 11, 2008 the index stood at 711 after a 94.4% decline which began last May. Recent figures however show a 6% increase in the index. It’s a good development but the jury is still out when it comes to longer-term prospects. BDI measures the d
Single-family starts were at 441 thousand in November; the lowest level ever recorded (since 1959). Single-family permits were at 412 thousand in November, suggesting single family starts may fall even further next month.
This 20 minute interview with Nassim Taleb is very good because he has a way of describing our current economic condition in an entertaining fashion.
The scale of what confronts Ms Hjaltested and other Icelanders is only just becoming clear. According to the IMF, the failure of the banks may cost taxpayers more than 80% of GDP.
Fourteen crew and officers, mostly from the Philippines, have been stranded for three months in an Argentine river on a cargo ship abandoned by its owner, surviving on charity donations of food and water.
"The EU's door is open to any European country that respects the principles of liberty, democracy and human rights and can carry the obligations of EU membership."
The Irish government was Thursday set to ask citizens to rethink their opposition to an EU reform treaty and vote next year in a new referendum, just six months after they rejected the text.
World stock markets plunged Friday as the U.S. Senate's rejection of a $14 billion deal to rescue Detroit's ailing automakers stoked concerns that the recession in the world's largest economy will be even longer and deeper than projected.
Asian stocks, U.S. index futures and the dollar tumbled after the Senate rejected a $14 billion automaker bailout plan for American automakers, threatening millions of jobs and a deepening of the global recession.
I found this a guy a while back, but even though his politics are a bit strange, on financial matters, he's dead on IMHO!
Sony Corp., the world’s second-biggest consumer-electronics maker, plans to eliminate 16,000 jobs in the largest reduction announced by a Japanese company since the credit crunch drove the world into recession.
Industry sources say U.S. auto companies have approached a range of Chinese companies about possible asset sales, but deals would be difficult to reach because of the risks involved as both the U.S. and Chinese auto markets slow sharply.
London is facing a double blow since worldwide issuance of bonds and securities has also gone into freefall, plummeting 77 percent from over a trillion dollars to $247bn in the third quarter. The City has been the epicentre of Europe's structured