The seemingly final deadline for serious Greek proposals in the debt showdown was Friday morning, and some paperwork was indeed delivered on schedule, inducing some optimism that a Greek exit from the Euro would be averted. Depending on who you ask, the deal is either a stunning triumph or disastrous capitulation for either Greece or its creditors.
Heritage Foundation Distinguished Visiting Fellow and former Wall Street Journal contributor Stephen Moore squared off against New York Times columnist Paul Krugman in a war of economic arguments that pitted free market, supply-side economics against statist, Keynesian Obamanomics.
A Bloomberg reporter, presumably in Athens to cover the developing Greek debt crisis, received quite a surprise with the bill: a charge in the Greek drachma, a long-defunct currency looming its head as the possibility of Greece leaving the euro behind grows with every day its government fails to make a debt payment to Europe.
Deep within the Summer Budget 2015, straddling pages 94 and 95 of the official publication and unannounced in the Chancellor’s speech on Wednesday, tax inspectors have been given the power to raid personal bank accounts. The controversial ‘American-style’ powers are intended to allow HM
Apple (NASDAQ:AAPL) iPhone sales appear to be in big trouble, despite iPhone being on track to post a 40 percent year-over-year unit sales gain through the second quarter.
The Shanghai Stock Exchange Composite Index has lost 28 percent since its peak on June 12, the worst selloff in two decades.
The entire world is watching China’s stock-market collapse, but it’s important to keep it within the context of the greater Chinese economy.
All sorts of deadlines have come and gone during the Greek debt crisis—as the basket-case nation’s European creditors repeatedly blinked and decided to grant one extension after another—unwilling to precipitate the pan-European (and possibly global) financial earthquake of a “Grexit” from the Euro.
China is teetering on the edge of a 1929-style stock market meltdown, and Greece might be about to exit the Euro. China is worried about what the Grexit, or an even larger collapse of the Euro, might do to its house-of-cards stock market. Everybody else is worried about what a Chinese collapse could do to their markets, especially since Western socialists have sold so much of their own nations to China over the years.
China’s stock market had what traders call a “Dead Kitty” bounce on Thursday as the communist authorities dispatched police and security personnel to “encourage” insider-buying and to arrest short sellers. With the Chinese market still highly inflated even after falling $3 trillion in value, China took action last night to “nationalize” about $6 trillion in losses.
Tourists planning a luxury getaway to the Greek isles are being increasingly hesitant to keep their bookings, thanks to both an economic crisis plaguing the nation’s banks and the Greek government’s inability to process thousands of illegal migrants sailing into island ports from Turkey. In order to keep revenue up, companies are offering steep discounts and encouraging tourists not to cancel trips.
In a interview with Manchester, NH’s The Union Leader, former Gov. Jeb Bush (R-FL), a 2016 candidate for the Republican presidential nomination, said in order to achieve the 4 percent growth in the economy he is touting, “People should work longer hours.”
WASHINGTON (AP) — The U.S. economy’s stumble at the start of 2015 is dragging down the world’s growth to the lowest level since the Great Recession, the International Monetary Fund said Thursday.
LAS VEGAS, Nevada — In two separate exclusive interviews ahead of his debate with liberal New York Times economist Paul Krugman on Friday, conservative economist Stephen Moore—now with the Heritage Foundation but previously of the Wall Street Journal—told Breitbart News he expects Krugman to defend “Obamanomics,” or a socialist kind of economic policy.
Assemblyman Phil Ting (D-San Francisco) introduced union-backed Assembly Bill 1040 on Tuesday, which aims to reform–or destroy–California’s Proposition 13 by raising taxes on commercial properties.
Despite authorities suspending trading in over 50 percent of domestic stocks, banning large holders from selling, funding state-owned financial institutions’ purchases, and arresting short-sellers, China’s CSI 300 Index crashed in the morning Thursday, before eking out a 2 percent gain by midday.
As of 3:10 Eastern time, trading has resumed on the New York Stock Exchange, after officials fixed what they called an “internal technical issue.” Trading halted around 11:30, meaning that the largest American stock exchange went without trading for nearly four hours.
As the financial crisis in Greece worsens, more and more sectors of the Greek economy are taking hits, including the health care system. Greece has a socialized health care system and now that the government is running out of money, so are hospitals.
Despite the Chinese communist government’s efforts to hide the severity of the “Black Tuesday” stock crash by indefinitely suspending trading in over a quarter of the nation’s weakest stocks, the Shanghai B Share Index suffered a 9.1 percent loss, while the Shenzhen Exchange plunged 5.8%.
Yesterday, as Greece’s debt negotiations entered a new hard-core round of brinkmanship mistaken by many observers for conciliatory gestures to Europe, observers warned that if Greece ultimately succeeds in squeezing more money out of its European creditors without making the necessary “austerity” concessions, their triumphant irresponsibility could go viral.
MSNBC’s “The Last Word” host Lawrence O’Donnell wondered if Bernie Sanders had educated Vermonters “to the essential truth that we’re all socialists now” on Monday. O’Donnell asked, “Howard Dean, you’ve been watching Bernie Sanders longer than any of us as
Germany is using its size and wealth to compel its Eurozone partners to take a hard line toward Greece, but in the end, Germany has much to lose by forcing the Aegean nation to choose between more austerity and dumping the euro.
Vladimir Putin is reportedly reaching out to Greek leaders to try to affect the outcome of the recent crisis. On Sunday, Greek voters once again defied European leaders and voted against approving new austerity measures.
Democratic presidential candidate Bernie Sanders claimed that the “real unemployment” rate is actually 10.5%, almost double the official government figure of 5.3%, during a speech in Portland, ME on Monday. Sanders said, “When you talk about the economy we also
While speaking with comedian and actor Judah Friedland on her MSNBC show “Now with Alex Wagner,” host Alex Wagner reacted to a report that the U.S. Women’s National Team earned $2 million for winning the World Cup compared to the Germany Men’s
