Australian Treasurer Wayne Swan said “cranks and crazies” in the U.S. Republican Party are threatening economic growth as Congress remains deadlocked on tax increases and spending cuts set to take effect in January.
“Let’s be blunt and acknowledge the biggest threat to the world’s biggest economy are the cranks and crazies that have taken over the Republican Party,” Swan said in a speech in Sydney today. “Global markets are nervously watching the positioning [...]
President Barack Obama’s endorsement of gay marriage carries a political cost, but it also means floods of cash from wealthy gay donors and disillusioned young people eager to be inspired by him again.
After three years of political compromise on issues from health care reform to spending cuts, Obama delivered a surprise gift to what many of his core supporters view as the civil rights issue of the day, simply by [...]
Former military leaders call for 30% cut in oil consumption – CNN …
By Charley Keyes
Osama bin Laden may have left a clue about one of the West’s greatest vulnerabilities: reliance on oil imports.
“When we killed bin Laden, we saw oil tanker designs on his work desk,” Gen. James Conway, the former Marine Corps commandant, said in a report released late Tuesday.
Conway was part of a group of 11 recently retired three- and [...]
Image: Wikimedia Commons
Kicking the can down the road on the Greece crisis is only going to make things worse, not better, according to Societe Generale’s Albert Edwards.
Edwards cites Anatole Kaletsky, a columnist at The Times, who sums up the situation as such:
….as time goes on, a durable solution, or even an orderly restructuring, becomes less likely, whereas EU politicians and most market commentators believe the opposite—that [...]
Last week David Stockman was on Tom Keene, making the usual media rounds (sometimes we marvel at his patience and endurance), as one of the few voices of fiscal prudence available to TV producers who seek to hold a balanced debate on the topic of US insolvency. Today, Reagan’s budget director was again on Bloomberg TV explaining the reality of the situation to Matt [...]