Desperate Spaniards are fleeing in their thousands to set up new lives in Argentina, preferring rampant inflation to the prospect of searching for a job in a country with the highest unemployment rate in the industrialised world.
Official figures show that more than 65,000 Spaniards have fled to Argentina since the onset of the 2008 financial crisis, with another 25,000 settling in Mexico.
Faced with a jobless rate of close to 25pc, [...]
WTO official warns of rising protectionism
SINGAPORE–The head of the World Trade Organization warned Friday that protectionist measures are on the rise around the world, after the Geneva-based group said world trade will grow more slowly in 2012 than predicted earlier this year.
“I remain convinced that this recovery will be slow,” WTO Director-General Pascal Lamy told a business group. He said the pressure to throw up trade barriers is [...]
‘The US Is Hypocritical when It Lectures Europe’
The closing group photos from the G-20 meeting in Mexico show the world’s top leaders smiling in a show of unity. But German observers say the happy family shots belie the serious problems the world economy faces — and the mudslinging that went on during the summit.
It’s another wait-and-see game for the euro, as world leaders wait for euro leaders — in particular [...]
By Kurt Brouwer, MarketWatch
On September 15, 2008, Lehman Brothers failed and its collapse triggered a financial panic. This was the first true panic since the Great Depression or even perhaps since 1907. A financial panic is very different from a regular stock market decline such as we saw in 2000-02 or 1973-74. A falling stock market may be scary, but falling stocks alone do not [...]
workers assembling an engine at a Volkswagen factory in Tennessee.
FORTUNE – Until the end of World War II, America’s economy was almost completely self-sufficient. Everything it consumed it also produced. The big shift away from manufacturing came as the U.S. sought to speed the recoveries of war-ravaged Europe and Asia. Trade barriers fell significantly and soon American companies were sending emissaries abroad, looking to do [...]
We’re headed down a slippery slope toward a repeat of the 1930s, Robert Skidelsky worries, citing the lack of agreement on currencies or trade at G20, and accusations of deliberate currency manipulation to get a trade advantage.
LONDON â€“ The just concluded G-20 meeting in Seoul broke up without agreement on either currencies or trade. China and the United States accused each other of deliberately [...]
I am reading “The Betrayal of American Prosperity” by Clyde Prestowitz for an October book club. It discusses things not at all in detailed economic theory, but in terms that an average citizen can easily relate to — especially a citizen who has endured the recent meltdown.
I learned about the “American System” or “American School”, which basically was an overarching national economic policy for America designed by some of our [...]
from another article: “… 903 million Asians (are) already living on $1.25 or less a day…”
how far do we want wages in the USA to fall to be ‘competitve’?
Do you want to live on $1.25 per day? Do you want that for your children, grandchildren, nephew…. your fellow American’s?
Get your head straight.
The problem is that the global international banker who tell our government what to do have squeezed as much [...]
Gold is telling me that people believe that we are going to crash and burn with all this belt tightening… then quickly start printing again, when the pols see what happens. We really are going to live the 1930′s.
Americans simply have to learn to live with the fact they are going to be much, much poorer than they have ever been.
It’s a bit like steroids. If your competition is [...]