Hard hitting global and local news
Continue reading here: Trading Caps and Gowns for Mops; Why Go to College If There Are No Jobs? Chasing the…
How long can the trend last?
CBO Expects 2013 "Fiscal Cliff" Recession Because of Automatic Spending Cuts and Tax Hikes Automatic tax hikes and spending cuts will go into effect in 2013 causing a "fiscal cliff" recession according to the CBO. Massive spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution, Congress’ budget referee said on Wednesday. The Congressional Budget Office said failure to avoid the so-called "fiscal cliff" of expiring tax cuts and automatic spending reductions would cause U.S
For example, a Google-translated headline on Welt Online reads ECB chief demonstrates German banker .
No one should be surprised to learn Greek Shortfall Growing Ever Larger Athens has not been having an easy time coming up with the €11.5 billion in cost cutting measures over the next two years it has promised Europe. Indeed, Greek Prime Minister Antonis Samaras is reportedly set to request an additional two years to make those cuts during meetings later this week with German Chancellor Angela Merkel on Friday and French President François Hollande on Saturday. But according to information obtained by SPIEGEL, the financing gap his country faces could be even greater.
Original post: New York City Jobs: Striking Divergence in Household Survey vs. Establishment Survey
The Eurozone Cannot Possibly Survive Intact.
Read More: Unemployment Up in 44 States; New York Unemployment Highest Since 1983; No Improvement Nationally in 2012; Looking Ahead:…
Originally posted here: Germany 6% Current Account Surplus a "Threat to the Continent" Says EU Commission; Solution is Gold Coupled…
Gary Shilling: US in Recession Now or Within 3 Months, Deleveraging Will Take 5-7 More Years In a Daily Ticker Interview with Henry Blodget, economist Gary Shilling makes the case the US is already in recession. "We’ve had three consecutive months of declines in retail sales," says Shilling, president of A. Shilling & Co., an economic research and forecasting firm