A recent video is going viral showing an American man describing his European vacation experience in a rental Volkswagon Passat while in the UK. He was shocked to see the vehicle was getting 50+ miles-per-gallon carrying four adults and hefty luggage. He discovered that without the typical vacation load, the UK's VW Passat could run a whopping 65+ miles per gallon. Back in the States, he contacted a Volkswagon dealer about the diesel model, but the best mileage available was 44 miles-per-gallon from the TDI Passat model. When pressed, the dealer finally admitted, "The US Government won't allow it." Why exactly would fuel efficiency be suppressed, and how widespread is this inequality?
Wisconsin Governor Scott Walker has long denied that he has a secret strategy to destroy public-sector unions as part of a long-term plan to make Wisconsin a “right-to-work” state where unions are dramatically weakened.
Sir Richard Branson believes that the ideal way for Spain to get out of its current morass of national debt, savage austerity cuts, and social turmoil would be to legalize and tax marijuana. The billionaire founder of the Virgin Group suggested at the opening of the world’s largest cannabis museum in Barcelona on Wednesday that this policy “would help get the country back on its feet.”
I have not been employed since 2004 and have the two dependents . . . . I don’t dispute that I owed them the $3500.00 but am wondering why they let it build up to somewhere around $17,000/20,000 before they attempted to collect.
Wall Street titan JPMorgan Chase on Thursday admitted that poorly positioned trades cost the bank $2 billion in losses. The news sent stocks of other big banks tumbling and raised the alarm once again over the tenuous nature of the financial system and the role of 'too big to fail' banks in the world economy.
A pact that Colombian state oil company Ecopetrol inked with the Sinochem conglomerate and the China Development Bank invites the energy-hungry Asian country to participate in a pipeline project linking central Colombia to the Pacific coast
The U.S. Federal Reserve has given the go-ahead for state-owned Chinese banks to enter the U.S. banking market. The U.S. central bank on Wednesday approved an application by China's biggest bank – the Industrial and Commercial Bank of China – to buy an 80 percent stake in the U.S. branch of the Bank of East Asia. It is the first time a Chinese state-controlled company has been approved to acquire a U.S. bank.
The Senate is currently deadlocked on taking action to prevent the interest on new Stafford guaranteed student loans from rising on July 1 from 3.4% to 6.8%, with Democrats saying they want to “pay for” keeping the current “lower” 3.4% rate by closing a loophole that allows some wealthy people to avoid paying Social Security and Medicare taxes, while Republicans want to “pay for” keeping the lower rate by eliminating a fund for preventative health care in the 2010 health care reform law.
By: Paul Craig Roberts| May 10, 2012 | Categories: Articles & Columns | Tags: Clinton, Disinformation, Feinstein, Israel:, Osama, Qaeda, Terrorism, Living in America is becoming very difficult for anyone with a moral conscience, a sense of justice, or a lick of intelligence. Consider: We have had a second fake underwear bomb plot, a much more fantastic one than the first hoax. The second underwear bomber was a CIA operative or informant allegedly recruited by al-Qaeda, an organization that US authorities have recently claimed to be defeated, in disarray, and no longer significant.
America's political-economy is caught in a vicious cycle, with concentrated wealth at the top leading to outsized political power. For a generation, America's political-economy has been gripped in a vicious cycle. Those at the top of the economic pile have taken an ever-growing share of the nation's income, and then leveraged that haul into ever-greater political power, which they have in turn used to rewrite the rules of “the market” in their favor. Wash, rinse and repeat.
The House voted Thursday to override steep cuts to the Pentagon’s budget mandated by last summer's debt deal and replace them with spending reductions to food stamps and other mandatory social programs.
The Colombian House of Representatives Wednesday passed the first draft of a bill that seeks to legalize illicit crops. The initiative calls for the decriminalization of growing plants such as coca, marijuana and opium poppies in the country. Representative Hugo Velasquez Jaramillo, who proposed the bill, explained that although the cultivation of plants would be legal under the new legislation, the processing and trafficking of drugs would remain subject to criminal sentencing.
Nigel Farage : The EU Titanic has now hit the iceberg , it is a European union of economic failure of mass unemployment of low growth but most of all it is an EU of the economic prism of a Euro , We face the prospect of mass civil unrest,possibly even a revolution in some countries that have been driven in total utter desperation says British MEP Nigel Farage . Nigel Farage MEP, UKIP, Co-President of the EFD Group in the European Parliament (Europe of Freedom and Democracy)
Shortly after the collapse of the Soviet Union, Sweden and Finland decided to join the European Union. However, their Scandinavian counterpart, Norway, decided against it. This decision is indicative of a euro-scepticism grounded in a unique history that will keep Norway independent, says Saadna Sheriffdeen of Geopoliticalmonitor.com.
It didn’t take long to crank up the backlash against European voters. This is inevitable whenever a socialist wins a major election, but particularly now, when new French president François Hollande rode to victory shouting, "Austerity can no longer be inevitable!"
Friday’s US jobless report, the most dismal so far this year, demonstrates the complete failure of the capitalist system to provide jobs for the unemployed. Nearly five years after the official beginning of the recession, and nearly four years since the collapse of Lehman Brothers triggered a worldwide financial panic, there has been no significant recovery for working people.
Despite his populist posturing, the president has failed to pin a single top finance exec on criminal charges since the economic collapse. Are the banks too big to jail—or is Washington’s revolving door at to blame? Peter J. Boyer and Peter Schweizer investigate:
New schemes hold the public hostage to private finance. When Mayor Rahm Emanuel introduced a “new and innovative” financing tool last month to help Chicago renovate failing infrastructure without precipitating another budget crisis, many in the city were understandably critical.
Britain is back in recession. According to the Office for National Statistics (ONS), the economy shrank by 0.2 percent over the first three months of 2012, following a 0.3 percent contraction at the end of 2011. It has now entered a double-dip recession, the first since the 1970s.
Only 115,000 jobs were added in the US in April, according to Friday’s report from the Bureau of Labor Statistics. This was significantly below expectations, and was the smallest gain in six months. It was well below the revised figure of 154,000 jobs added in March.
Argentina's record levels of employment and massive reductions in poverty have little to do with exports. One of the great myths about the Argentine economy that is repeated nearly every day is that the rapid growth of the Argentine economy during the past decade has been a "commodity export boom". For example, the New York Times reported last week:
Which federal program took in more than it spent last year, added $95 billion to its surplus and lifted 20 million Americans of all ages out of poverty? Why, Social Security, of course, which ended 2011 with a $2.7 trillion surplus.
The euro zone economy worsened markedly last month and U.S. employers cut back on hiring, according to two reports on Friday that dampened hopes for gradual recovery on either side of the Atlantic.
Three and a half years into the economic crisis, the conditions of life facing millions of people in the US are disastrous. Whatever the talk of an economic “recovery,” poverty, perpetual unemployment, impossible levels of debt pervade American society.
Next time you fill up your tank, remember that $10 to $25 is going right from your pocket to the financial sector. Wall Street is financializing the commodities markets – especially oil – as it seeks new ways to pick our pockets. The same greedy swindlers who puffed up the housing bubble and then milked it dry are now hard at work doing the same with gasoline.
Last year, 86 million Americans were not counted in the labor force because they didn't keep up a regular job search. Most of them were either under age 25 or over age 65. Last year, 86 million Americans were not counted in the labor force because they didn't keep up a regular job search. Most of them were either under age 25 or over age 65. NEW YORK (CNNMoney) -- There are far more jobless people in the United States than you might think.
Fears the government will not meet deficit-cutting targets agreed with the European Union and International Monetary Fund have pushed up its borrowing costs. There is also growing speculation that bank debts are much higher than admitted.
There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency.
Of course, most of us know what’s wrong with the world. We know about the poverty, war, violence and disease. We’re conscious of the injustice, but not fully conscious of it, because frankly, we have enough to worry about in our own lives. As such, we’ve come to accept these injustices as simple facts of life ? prepackaged side effects of the human condition, as natural and intertwined with our existence as water to a stream, beyond our capacity to effect in any significant way. This collective sense of powerlessness and default apathy is why we’re striking.
Two Federal Reserve officials warned Tuesday that the U.S. could be heading for a "fiscal cliff" at year's end if mandated tax increases and spending cuts are implemented.
Washington has pressured the Philippines, whose government it owns, into conducting joint military exercises in the South China Sea. Washington’s excuse is that China has territorial disputes with the Philippines, Indonesia, and other countries concerning island and sea rights in the South China Sea. Washington asserts that China’s territorial disputes with the like of Indonesia and the Philippines are a matter of United States’ national interests.
Barely four months after the European Central Bank (ECB) began its latest intervention into financial markets, making available a total of €1 trillion at ultra-cheap rates to cash-strapped banks, the European financial system is heading into a new crisis, with far-reaching global implications.
Humans will always work. But that whole employee-employer thing is optional. It's time to start looking for another model. Suppose that something caused iTunes, Sony Music, "American Idol," SiriusXM and every other commercial music entity to disappear. Would humans still make music? Of course we would. Although capitalists would prefer we think otherwise, human ingenuity created capitalism—not the other way around.
Less than two thirds of Americans say they own their own homes - the lowest rate of home ownership in more than a decade. A new Gallup poll shows just 62 per cent of Americans are homeowners, down 11 percentage points from the high of 73 per cent in 2007, just before the housing market crashed spectacularly. A record number of Americans, 43 per cent, also say their homes are now worth less than what they paid for them.
US economic growth slowed in the first quarter of 2012, with gross domestic product rising by only 2.2 percent, according to figures reported by the Department of Commerce Friday. The figure was well below the consensus forecast of 2.6 percent among corporate economists surveyed by Dow Jones Newswires.
'The Occupy movement has been very successful in bringing those ideas to the forefront of political discussion.' Europe is headed down the same path that most Republicans -- and many Democrats -- are suggesting for the US: reductions in the public sector, cuts in benefits, slashing investments in infrastructure and education.
The human capacity for self-delusion truly is remarkable. Most people out there end up believing exactly what they want to believe even when the truth is staring them right in the face. Take the U.S. economy for example. Barack Obama wants to believe that his policies have worked and that the U.S. economy is improving. So that is what he is telling the American people.
The number of people seeking U.S. unemployment benefits remained stuck near a three-month high last week, a sign that job gains will likely remain modest. The report disappointed economists, who had forecast a decline in unemployment applications. Even so, most analysts think employers will add about 175,000 jobs this month. That would be more than in March but less than the robust job growth achieved during the winter.
Orders for U.S. durable goods fell in March by the most in three years, depressed by a pullback in demand for aircraft that masked gains in business investment.
Spot market gold pricesclimbed to $1643 an ounce Tuesday lunchtime in London - a 1.2% gain from Monday's low, but still below Friday's close - as Eurozone concerns focused on the Netherlands after Monday's government collapse.
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