CNBC is reporting the weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market. The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world’s predominant […]
EPA Rules Force Shell to Abandon Oil Drilling Plans By Dan Springer FoxNews.com Shell Oil Company has announced it must scrap efforts to drill for oil this summer in the Arctic Ocean off the northern coast of Alaska. The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits. […]
Gold and silver are on fire to start the week, and obviously that means the dollar is sagging hard. There are reports of unnamed PBOC officials talking about shifting the bank’s massive reserves into hard assets outside the dollar. There’s another report of a banker (via ZeroHedge) urging a massive slashing of USD reserves. So […]
The National Inflation Association (NIA) announced in its November 5th, 2010, food price projection report that food inflation would take over as America’s biggest crisis in calendar year 2011, surpassing the mortgage crisis and high unemployment, which were the top economic concerns of Americans in 2010. NIA’s food price projection report received worldwide media attention […]
As PA Chairman Mahmoud Abbas proceeds full steam ahead with plans to seek a unilateral declaration of a PA state using the 1948 armistice lines for its borders by the United Nations some observers say he may be invoking the law of unintended consequences. The Opposite Effect? Aaron David Miller, a former Middle East negotiator for […]
There may no longer be a Soviet Union, but there are still regional political and economic realities. Russia, as the successor to the Soviet Union, has a strong interest in developments in the Ukraine and in Belarus. Even without reunification, Moscow would like Kiev and Minsk tied to its umbilical cord rather than drifting towards the European […]
Normally, nobody aside from political science buffs paid much heed to the Finnish elections. This time Europe was fully tuned in due to the rise in the polls for the True Finns, a populist party that opposes bailouts for the EU’s beleaguered members. Now the interest in Finland will persist as the True Finns quintupled […]
United States government, be forewarned: Your credit won’t always be good if you fail to get control of the debt while keeping up your big-spending ways. And merely raising the debt limit won’t be enough to solve your problems. That was the message delivered yesterday by Standard Poor’s (SP) credit rating firm, which lowered its outlook […]
The president of the World Bank has warned that the world is “one shock away from a full-blown crisis”. Robert Zoellick cited rising food prices as the main threat to poor nations who risk “losing a generation”. He was speaking in Washington at the end of the spring meetings of the World Bank and International […]
Violence on the streets as backlash grows over Greece’s austerity package and €110bn bailout A growing chorus of voices is urging the Greek government to restructure its debt as fears grow that a €110bn bailout has failed to rescue the country from the financial abyss and is forcing ordinary people into an era of futile […]
