To reduce the deficit, which would be the highest of any nation among the Group of 20, which comprises G-7 members and major emerging economies, Mr. Darling proposed to increase income tax for the highest earners to an unprecedented 50 percent, from
International Monetary Fund on Wednesday slashed growth forecasts for every major country and urged governments to take forceful action to ensure the world economy's recovery from a severe recession.
With the combination of rising unemployment and falling prices, economists fear Spain may be in the early grip of deflation, a hallmark of both the Great Depression and Japan’s lost decade of the 1990s...
Stock markets in the Asia-Pacific region fell across the board on Tuesday, mirroring declines on Wall Street as renewed nervousness about the health of the U.S. banking system put at least a temporary stop to a six-week rally in global stock m
Finance capitalism aims to enslave the world in neo-feudal debt bondage.
And that is where the conspiracy theorists come in. Why did the BIS not retract or at least modify Basel II after seeing the devastation it had caused? Why did it sit idly by as the global economy came crashing down?
The International Monetary Fund has warned of "worrisome parallels" between the current global crisis and the Great Depression, despite the unprecedented steps already taken by central banks and governments worldwide.
Investors have learned once again the horrible reality of real estate. You cannot take it with you. Here that means that half the population will be leaving and never returning and half the space so recently built will stand vacant. Unless the state
Hard money enthusiasts have long watched for signs that China is switching its foreign reserves from US Treasury bonds into gold bullion. They may have been eyeing the wrong metal.
A significant decline in human population is beginning and will make itself felt for the rest of the century. Public response has been meager because is has not been particularly obvious and because the memories of the past scare over overpopulation
Russian borrowers are struggling to repay bank loans. As a result, the share of nonperforming loans appears to be mushrooming. "A month ago, 15% seemed like a negative figure. Now people are talking about (the share reaching) 20% to 30%,"
This is torture for a debtors' economy. You can survive deflation; you can survive debt; but Irving Fisher taught us in his 1933 treatise "Debt Deflation causes of Great Depressions" that the two together will eat you alive.
Gaming the system so that it overtaxes the income of the many for theincreasing benefit of a few has natural limitations, unless one can enforce a type of involuntary servitude. This model has its roots far back in history, in empires like Rome, Egyp
That's what the crisis looks like in Greece. "Nobody wants to see it, but everybody is afraid of it," says Kalliope Amyg, a young political scientist. "The country is dancing on a volcano."
To sum up, globally we are tracking or doing even worse than the Great Depression, whether the metric is industrial production, exports or equity valuations. Focusing on the US causes one to minimize this alarming fact.
Digital Gold stands firm as a protector of personal wealth and value. I am constantly amazed at the bad information I see and read regarding digital gold or digital gold currency.
A major stock market rally that sent equities higher around the world on Thursday fizzled in Asia on Friday morning despite fresh data from China suggesting that nation’s downturn is bottoming out.
Attempting to bridge deep divides in policy and financial philosophy, the leaders of nearly two dozen of the world’s largest economies agreed to a broad array of new fiscal and regulatory steps, in a desperate effort to revive the paralyzed global ec
"The world has become accustomed to the United States being a voracious consumer market and the engine that drives a lot of economic growth worldwide," he said. "If there's going to be renewed growth, it can't just be the Unite
President Sarkozy yesterday threatened to wreck the London summit if France’s demands for tougher financial regulation are not met.
filmmaker Evan Coyne Maloney investigates political censorship at colleges and universities in the United States. Watch how "free speech" Liberals censor speech at US Colleges.
Asian stocks fell, paring the regional benchmark index’s rally this month, amid concern government stimulus plans worldwide will take longer than some investors expect to revive global growth.
A UN panel of expert economists pressed Thursday for a new global currency reserve scheme to replace the volatile, dollar-based system and for coordinated steps by rich countries to stimulate their economies. "A new Global Reserve System -- wh
China and Argentina have agreed to set up a 70 billion yuan($10.24 billion) currency swap system that will enable trade between the two nations to be settled in the Chinese currency, the state-run Xinhua News Agency reported Monday.
Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the IMF. Chinese and Russian leaders
Asian stocks fell, paring the MSCI World Index’s biggest monthly rally since 1991, and U.S. futures slumped as U.S. Treasury Secretary Timothy Geithner said some banks will need “large amounts” of government aid.
Japan's Nikkei stock average fell 2.6 percent on Monday as automakers tumbled on renewed worries about their U.S. peers after a U.S. autos task force said plans submitted by General Motors and Chrysler failed to show how they could be viable.
Barely six months ago, the International Monetary Fund emerged from years of declining relevance, hurriedly cobbling together emergency loans for countries from Iceland to Pakistan, as the first wave of the financial crisis hit.
“Yesterday, during a Financial Services Committee hearing, I asked Secretary Geithner if he would denounce efforts to move towards a global currency and he answered unequivocally that he would. But a day later he left the option on the table. I want
“We want a very English revolution,” he says from a café near his home in north London. “The first English revolution in 1649 was about winning sovereignty for parliament over the king.” Now, protesters are campaigning for sovereignty for everyone.