Global Financial Crisis Coming – Japan Warns of “Lehman-Scale” Crisis At G7

Japanese Prime Minister Shinzo Abe warned his G7 counterparts that the world may on the brink of a global financial crisis on the scale of Lehman Brothers.

Understanding US $18T Debt and Why It Will Never Get Paid

At $18+ trillion, America's debt is the largest in the world for a single country. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most. Unlike American citizens, the U.S. government doesn't pay it's debt.

World Bank: Gaza Economy on Verge of Collapse, Youth Unemployment Highest in the Mideast...

Gaza economy is on the verge of collapse and youth unemployment is highest in the region at 60% according to the latest World Bank economic update.

Glaring record gap between rich and poor: OECD

The gap between the rich and poor in most of the world's advanced economies is at record levels, according to an OECD study that also found glaring differences between men and women.

Eurogroup approves revised list of Greek reforms

Agreement stresses intention to combat tax evasion and corruption and to address the humanitarian crisis.

Putin writes off 90% of Cuba’s debt to Russia

Russia has written down $32 billion of Cuba’s Soviet era debt. Russian President Vladimir Putin signed the law ahead of his official visit to Latin America, with Havana as his first stop.

US Empire Crumbles: 80 % of U.S. adults face near-poverty, unemployment, survey finds

Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

USA Crumbles: Detroit files largest municipal bankruptcy case in US history

A 60 years in the making fiasco, the city of Detroit filed the largest municipal bankruptcy case in U.S. history Thursday afternoon, culminating a decades-long slide that transformed the nation’s iconic industrial town into a model of urban decline crippled by population loss, a dwindling tax base and financial problems. The filing serves as a grim reminder of the bankruptcies that hit the auto industry four years ago. Unlike the cases of General Motors and Chrysler in 2009, the White House offered no financial help.

Global poverty down, Philippine poverty remains high

Contrary to neoliberal economist propaganda, whose dysfunctional "globalisation" brainwash caused more deepening poverty and rising inequality, the improvement on the global poverty as of 2005 is due to many governments around the world that radically changing course by throwing off the shackles of neoliberalism in the first decade of the 21st century. Government intervention, economic nationalism, redistributive populist policies that promoted both equity and expanded internal markets, and the commodities boom triggered by China’s development made up a potent combination that reversed trends in poverty. However, the Philippines bucked the trend towards reduced poverty because its policymakers are imprisoned in the neoliberal paradigm according to a Filipino author and incumbent Member of the Philippine House of Representatives.

China ups spending related to quality of life

Mar. 5, 2013 (TSR) - China's central budget for 2013 features notable spending increases in areas closely related to quality of life, including education, healthcare, social security and public...

US dollar to collapse in 2013: Economist

Jan. 4, 2013 (TSR) - The US dollar is expected to take a value nosedive in 2013 if China refuses to continue financing Washington’s spiraling debt, an economic analyst...

Spain: the pain of austerity deepens

by Giles Tremlett January 2, 2013 (TSR) - Forget, for a moment, the Greek tragedy. The tale of social woe set to play out in Spain this year is both...