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By Michael What is going to happen when the greatest economic bubble in the history of the world pops? Themainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. [...] * Sex shops say business has plummeted * Greece imports its erotic toys * Return to drachma could spell death of industry By Harry Papachristou ATHENS, May 27 (Reuters) – Greece’s once-thriving sex industry has become the latest victim of the country’s debt crisis as Greeks spend less on erotic toys, pornography and titillating underwear. About 50 people, almost all young men, lined up on Friday as the Athens Erotic Dream – Greece’s biggest sex fair – [...] by Dee Woo The Making of China’s epic hard landing 1. The unsavory episodes of China’s economy For the better part of the past year, my concern about Chinese economy was constantly aggravated by the depressing stories of entrepreneurs who committed suicide, fleeted the country or emigrate to the western world in droves. Much of the media has blamed the credit crunch and monetary tightening for all these unsavory episodes. The public outcry for the deteriorating conditions [...] Preface to the 2011 Edition of The Corruption of Capitalism From the early 1980s, debt-fuelled consumption in the United States drove global economic growth and facilitated the spread of globalization. Economic policy was formulated based upon the belief that markets are most efficient when left unregulated. Exchange rates floated, massive trade imbalances were ignored, and for three decades the world was [...]
The United States Postal Service is headed off a cliff, and – according to the US Government Accountability Office - few are even giving its demise a second thought. That’s the same USPS, by the way, that was once a great source of national pride, that united America’s coasts and transmitted vital information at incredible speeds, that kept families connected across rivers and valleys, and that inspired [...] by LFM EU austerity drive country by country: Greece to intensify austerity measures even further to satisfy conditions of IMF continued financing: European cities hit by protests: Food price rises, also clothing costs and inflation a growing concern: Irish government forced to make even bigger saving and intensify austerity on its population: Australia set to increase interest rates and Aussie dollar heads for parity with US dollar: UK government imposing austerity measures, cutting Civil service and government [...] |
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