Eurozone private sector activity retreated in March, providing new evidence that the 17-nation single currency area is in recession, a key survey showed on Wednesday. The composite Purchasing Managers Index (PMI) compiled by Markit research firm hit a three-month low,
(AP) Eurozone gets $670 billion in fresh bailout fundsBy GABRIELE STEINHAUSER and JAN M. OLSENAssociated PressCOPENHAGEN, Denmark The 17 countries that use the euro have boosted their emergency funding for debt-troubled countries to (EURO)800 billion ($1.1 trillion), an amount that
(AP) Prominent Pakistani acid victim commits suicideBy SEBASTIAN ABBOTAssociated PressISLAMABADPakistani acid attack victim Fakhra Younus had endured more than three dozen surgeries over more than a decade to repair her severely damaged face and body when she finally decided life
When Barack Obama took office in 2009 under the guise of “hope and change,” gasoline was about $1.84 a gallon. Since then, he has reduced foreign importation of crude without increasing domestic production rapidly enough to make up for the
(AP) Stocks gain as Greek nears a deal on debt swapBy EILEEN AJ CONNELLYAP Business WriterNEW YORKThe stock market posted substantial gains Thursday as Greece closed in on a deal to restructure its debt and avoid a default. That overshadowed
As discussed earlier this week, the most important number in Obama’s budget is that the burden of government spending will be at least $2 trillion higher in 10 years if the President’s plan is enacted. But there are also some very unsightly
This morning’s key headlines from GenerationalDynamics.com. China’s Xi Jinping receives reassurance on Taiwan from Barack Obama Tibetans fear bloody repression by China’s security forces Three bomb blasts in Bangkok, Thailand, blow Iranian’s leg off Italy cancels Rome’s bid to host
Is it April Fool’s Day? Has somebody in Paris hacked the website at the Organization for Economic Cooperation and Development? Have we been transported to a parallel dimension where up is down and black is white? Please forgive all these
The Cold War was about freedom vs. tyranny: the belief that individuals had certain inalienable rights vs. the belief that the state was omnipotent. We won, right?! You wouldn’t know it by looking at trends in Europe, where tyranny is
From Reuters: The Italian government will pass labor market reforms even if trade unions do not give their consent to the measures, Labour Minister Elsa Fornero told union leaders on Thursday, according to an official close to the discussions. Fornero
Leftists want higher tax rates and they want greater tax compliance. But they have a hard time understanding that those goals are inconsistent. Simply stated, people respond to incentives. When tax rates are punitive, folks earn and report less taxable
Recent financial events in the Eurozone have been deeply troubling. One of the most common comparisons conservatives the United States make is that the current path will lead to the U.S. becoming like Greece or Italy–that the risk of U.S.
Trouble looms for the U.S., European, and global economies, once thought to be making a slow but steady recovery. Though fourth quarter GDP figures released today showed U.S. GDP growth of 2.8%, the overall rate of growth was 1.7% for
Iceland is side-stepping Europe’s plummet into a deep recession or depression by following the true capitalist’s model of allowing its insolvent banks to fail and go bankrupt. With less than two years of pain and suffering, Iceland is emerging as
BRUSSELS (AP) – The International Monetary Fund said Wednesday that it’s aiming to increase its financial firepower by around $500 billion so it can issue new loans to help ease a worsening financial crisis. Responding to speculation surrounding its funding
Buzzfeed has published a massive opposition research document on Republican presidential candidate Mitt Romney that was allegedly compiled by his rival in the 2008 presidential primary, Sen. John McCain (R-AZ). Among other claims, the document contends–citing Forbes–that “Bain & Company
BRUSSELS (AP) – Rating agency Standard & Poor’s said Monday it has downgraded the creditworthiness of the eurozone’s rescue fund by one notch to AA+, putting the fund’s ability to raise cheap bailout money at risk. Nicolas Sarkozy with Spanish
(Reuters) – Standard & Poor’s downgraded the credit ratings of nine euro- zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday the 13th for the troubled single currency area.
If there is one obvious condition associated with the last century, it is the lack of government humility. Among the century’s leadership there was the self-confident belief that “good ideas” would trump tradition, customs, history, even instinct. There were scarcely
Germany’s Der Spiegel offers up a dose of economic reality: while France, Italy, Greece, Spain and other European countries are suffering amidst the debt crisis, Germany is doing great. Indeed, they are actually benefiting from the crisis. Recently, Germany actually
This morning’s key headlines from GenerationalDynamics.com. No birthday party for 10th anniversary of euro currency Syria’s regime makes fools of the Arab League Israelis and Palestinians to resume non-negotiation negotiations Palestinians plan to put Israel under ‘international siege’ Chinese shoppers
PARIS (AP) – Just three years ago, the euro was being praised as the can-do currency that had delivered unprecedented prosperity in Europe. Now, it’s widely derided as a hugely flawed experiment in the wake of a debt crisis that’s
This morning’s key headlines from GenerationalDynamics.com. Thousands of Israelis protest ultra-Orthodox Jewish extremists Afghan Taliban set up embassy office in Doha, Qatar Last week’s ECB euro liquidity flood is failing badly Iran threatens to close the Strait of Hormuz Why
