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All three countries have pledged to impose sweeping cuts in public-sector jobs and wages and in social benefits, along with new consumption taxes, in line with demands from the European Union that...
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Article by John Tamny RealClearPolitics
With banks “still burdened by bad lending decisions”, Geithner, rather than let those same banks pay for their mistakes, is forming a...
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“Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending,” the Fed said, adding that it would “employ all...
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By Wang Wei
China.org.cn staff reporter
"The financial crisis has sent an important signal that Chinese people need to change their values. 'They need to be educated to consume...
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President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said. “We...
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if the planet can no longer generate any more liquidity to lend to the United States, one of three things have to happen: A) There has to be a sudden and dramatic reduction in federal spending....
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As of yesterday, the debt stood at nearly $10.7 trillion, of which about $4.3 trillion is owed to other government institutions, such as the Social Security trust fund. Debt held by private...
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The federal government’s initiatives are all carefully cast as emergency measures that will be phased out in months or years. “It’s explicitly temporary, but we don’t...
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As shell-shocked central bankers and finance ministers gather in Washington to confront the world's financial meltdown this weekend, that grinding noise in the background is the sound of the...
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The crash unfolding on Wall Street is not just the fall of once-mighty banks and corporations that took on too much debt, but the collapse of an American economy and lifestyle that for decades has...
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All three countries have pledged to impose sweeping cuts in public-sector jobs and wages and in social benefits, along with new consumption taxes, in line with demands from the European Union that... more