Combined profit for Ecuador's private banks fell 21% in 2012 due to a series of measures taken by President Rafael Correa's administration.
THE post-war generation of baby boomers - those born between 1946 and 1964 - have had a huge appetite on the world, creating "youth culture", changing social attitudes from the sixties onwards,
The Chinese economy is "very credit dependent", warn GMO analysts Edward Chancellor and Mike Monnelly.
What remains the same across all such forms - why they all deserve the label "capitalist" - is the exclusion of the mass of workers that produces the output and generates the profits from receiving and distributing that profit, and from generally p
Takahasi was the first of his era to tear up rule book completely. He took Japan off gold in December 1931. He ran "Keynesian" budget deficits deliberately, launching a New Deal blitz before Franklin Roosevelt took office.
The Economist Intelligence Unit recently published its "Where To Be Born in 2013" list, a measure of which countries provide the best opportunities for a healthy, safe and prosperous life in the years ahead.
Monday is a holiday in the US, but the preparation for the re-opening of markets has begun.
As we wrote about yesterday, one of the biggest moves in currencies has been the Euro rallying against the Swiss Franc.
The economic implosion of Europe is accelerating.
“Trust in central banks by other central banks is ending”
Sending all their gold back home pulls the rug out from under the global money scheme, and may have just launched the greatest gold scramble of all time. Because if the central banks don't have faith in one another, why should anyone else?
Scratch the surface of any austerity policy, and chances are you’ll see a bank protection program masquerading as good economic policy.
Save? Party like it's 2013! ... Economic forecast for 2013: Forget the fiscal cliff, this is the year to spend, spend, spend ...
Bartering and alternative currencies are gaining ground... at least in Greece. Are Greeks turning to gold & silver as those in Zimbabwe did?
The one thing that most seem to forget in the epic 30 year old story (which has a very sad ending) that is the Japanese floundering economy, is that while the new Abe government may and will likely try everything to crush the Yen
“With homelessness figures already heading in the right direction, today we have taken a huge step forward for Scotland,” she said. The BBC reports that official figures in February show that Scotland’s homelessness rate has fallen to its lowest l
There is a vehement and polarized debate going on in this country about our budget deficit.
"About half of the world's total oil production of nearly 90 million barrels per day is transported over water," write US Funds analysts.
Everyone thought 2012 was the year the euro crisis subsided.
Communities set up local currencies and exchange networks in attempt to beat the economic crisis ... It's been a busy day at the market in downtown Volos.
Spain has been quietly tapping the country's richest piggy bank, the Social Security Reserve Fund, as a buyer of last resort for Spanish government bonds - with at least 90% of the $85.7 billion fund invested in increasingly risky Spanish debt.
Most families who will lose all of their benefit under changes coming in on Monday have not taken step to stop payments.
All signs point to the fact that Venezuelan President Hugo Chavez is not long for this world.
One suggestion that has gained popularity in the post-crisis regulatory debate is a tax on financial transactions.
Zambia's central bank launched its rebased kwacha currency on Tuesday, removing three zeros from new denominations which will run side by side with the old bank notes until June this year.
l. A weaker yen is itself a form of stimulus, and should help the country's domestic manufacturers. Nomura recently upgraded the Japanese automakers specifically on this, and in general the Nikkei has been on a total tear.
Euro zone factories sank deeper into recession in December as new orders tumbled, business surveys showed on Wednesday, a sharp contrast to continuing signs of revival in China.
The jargon is no different in Brussels, London, Tokyo, Beijing or other places around the world where pinstriped policymakers congregate and pontificate. But sometimes even central bankers can be perfectly clear. They can also, apparently, be surpr
“This government can not even breathe without taking a loan,” he added. “We had enough from this government, they are just spending and we have no money to pay bills and feed our children,” unemployed factory worker Stojanca Kostev said.
The IMF’s Il Houng Lee, Murtaza Syed, and Liu Xueyan have published a very interesting and widely-noticed study called “Is China Overinvesting and Does it Matter?”