Revealed: Rising Inequality Kills American Jobs Barry Z. Cynamon and Steven M. Fazzari, researchers on consumer behavior and how it effects the economy, wrote an op-ed for the St. Louis Post Dispatch in October 2007 in which they predicted that an end to the relentless trend of rising household debt and a subsequent crash in…
10 reasons millennials are screwed Generation gaps are nothing new. Back in the 1930s, members of the World War I generation complained bitterly about their World War II generation offspring and all the swing-dancing, noisy big bands and awful crooners they were into (many of those jitterbugging teenagers of the 1930s went…
Eurozone interest rates raised to 1.25% by ECB The European Central Bank has kept rates low for almost two years Global Economy ECB urged Portugal to seek rescue Q&A: Why is Portugal in trouble? Will the rate rise damage growth? EU austerity drive by country Eurozone interest rates have been raised to 1.25% from the…
Egypt Burning tells the story of the Egyptian revolution that forced Hosni Mubarak, the president who had ruled the country for 30 years, from power. Through interviews with Al Jazeera correspondents on the ground – whose coverage of the popular uprising made them the target of a state campaign to get Al Jazeera off the…
The state’s unemployment rate stands at more than 12 percent, and in some poorer counties it’s in the 25 percent range. In Los Angeles, that number is 12.2 percent. “It boggles the mind,” says LA’s mayor, Antonio Villaraigosa. “Not since the Depression have we had numbers this bad.” To make matters worse, in an attempt…
According to a report in Germany’s news magazine Der Spiegel the European Commission warned that the euro area’s chances of survival would depend criticially on adjusting the internal imbalances. The reported quoted from a paper by DG Ecfin, accourding to which internal imbalances would weaken confidence in the euro and endanger the cohesion of the…