Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid on Thursday after a credit agency cut its rating to near junk, triggering a spike in its borrowing costs.
Standard & Poor’s downgraded its rating on Spain’s debt by 2 notches, leaving it on the cusp of junk status. A grinding recession, high unemployment and social unrest are limiting the government’s options for stemming the country’s financial crisis,
The stock market sell-off is gaining steam.
Spain is in trouble.
This chart is from a speech given (.pdf) by FedEx CEO Fred Smith at an investor dinner last night (via @CEP_Observer).
A bloodied figure climbed out of a coffin and lurched across the square screaming at passers-by, as three pale-faced women dressed as witches squawked and wailed.
It takes all of three seconds on the ground in Spain to realize that this country is hurting. Big time.
According to the latest economic forecasts from the International Monetary Fund (IMF), released on Tuesday, Greece will miss the five-year debt reduction target that underpins the country's 130 billion euro bailout.
The so-called "Lagarde List" – the name given by the Greek press to a list containing 1,991 names of wealthy, Swiss-bank-account-possessing Greeks who are being investigated for corruption and tax evasion – is causing a major stir in Greece right no
Each year, Thomson Reuters' David Pendlebury uses the company's Web of Knowledge research platform to predict Nobel winners in physics, chemistry, physiology/medicine and economics.
One of the most successful con jobs in the history of the world has been the concept of unbacked paper currency… or fiat money.
A devastating economic depression is rapidly spreading across the largest economy in the world.
CATALONIA may be the catalyst for a renewed wave of separatism in the European Union, with Scotland and Flanders not far behind.
Do the Swiss know something the rest of us don’t?
Markets in Europe got slammed today. However, they closed off of their lows.
Earlier today, the World Bank slashed its outlook for growth in China to 7.7 percent in 2012 and 8.1 percent in 2013, down from 8.2 percent and 8.6 percent, respectively.
Markets are falling early in the European trading session.
Did you know that Puerto Rico is in the Appalachians? Well, in 2011, something called the Appalachian Regional Commission distributed $55 million in Pell Grants from the U.S. Department of Education to the Inter-American University of Puerto Rico, I
The French government is trying to reign in its deficit by jacking up taxes, including the capital gains tax, which it wants to bring to the same level as the tax on income earned by the sweat of your brow—an old philosophical pillar of the French le
Canada avoided many of the mistakes that the U.S. made in its housing market.
The importance of the question accelerates in the face of global money-printing, which is also accelerating. Since the start of the economic meltdown five years ago, the balance sheets of the world’s central banks have been growing at a frantic pace.
"It's our currency and your problem," U.S. Treasury Secretary John Connally famously said of the dollar in 1971.
In the investment world, it’s said that the best remedy for high prices is… high prices.
An important shift is developing in Saudi Arabian currency derivatives markets as Iran becomes engulfed in populist protests amid hyperinflationary pressures and armed conflict breaks out between Turkey and Syria, heightening concerns about tensions
First, the scoreboard: Dow: 13,495, +12.6, +0.1 percent S&P 500: 1451, +5.3, +0.4 percent NASDAQ: 3135, +15, +0.5 percent
The collapse of the Soviet Union in December of 1991 was the best news of my lifetime.
Here are a few interesting tidbits to chew on:
It seems the underground economy in Spain is picking up. Hand-crafted T-Shirts have become all the rage as the youth of the country send a subtle message to their leaders...
Appearances are important! Those who follow free-market economics know what needs to be done to pull Europe out of its slump. But the reporting gives no clue of the reality.
In the last several days, the chatter about the dismal situation in France has grown much louder.