One afternoon last fall at Fort Benning, Ga., two model-size planes took off, climbed to 800 and 1,000 feet, and began criss-crossing the military base in search of an orange, green and blue tarp.
American consumers have too much debt, not enough savings and are afraid they will lose their jobs—if they haven’t lost them already.
The loss of market confidence in economic leadership in key countries like the United States and Europe coupled with a fragile economic recovery have pushed markets into a new danger zone, something that policymakers have to take seriously, the head of the World Bank said on Sunday.
Standard & Poor’s decision to downgrade the nation’s credit rating reinforces Democrats’ call for increasing tax revenue, Senate Majority Leader Harry Reid (D-Nev.) said Friday.
Russian Prime Minister Vladimir Putin answers questions from the audience during his visit to the summer camp of the pro-Kremlin youth group ”Nashi” at lake Seliger, some 400km (248miles) north of Moscow, August 1, 2011.
Credit: Reuters/Mikhail Metzel/Pool
Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means “like a parasite” on the global economy and said dollar dominance was a threat to the financial markets.
Those who say money doesn’t go as far as it used to should take a look at this CNN story, pointed out by Yahoo News.
The European Union’s failure to contain the Greek debt crisis is sending fresh shockwaves through currencies, money markets, equities and derivatives.
The federal government’s financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows.
China’s official gold reserves are seen to be being effectively held at whatever level the country’s government thinks is of political and financial advantage.
Ratings agency Moody’s warned Spain on Wednesday that its debt could be downgraded and Portugal took steps to revive its economy amid concerns about euro zone debt contagion on the eve of a European Union summit.
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