William Hague: Eurozone is a 'burning building with no exits': Delivering the starkest comments yet by a senior British minister, the foreign secretary claimed Germany would have to accept they are going to subsidise weaker members, such as Greece, for ‘the rest of their lifetimes’.
Argentine President Slams IMF Murderous “Idiocy and Stubborness”: “those directly responsible for Argentina’s 2001 failure, and today’s in Europe and the United States, are still trying to force the world to swallow the same medicine“ Cristina Fernandez de Kirchner, President of Argentine
Soros: Europe is in a More Dangerous Situation than the U.S. in 2008: “It is a more dangerous situation…to the global financial system than the collapse of Lehman Brothers…” the 81-year old investor said. “Even if a catastrophe can be avoided, one thing is certain: the pressure to reduce deficits will push the euro zone into prolonged recession. This will have incalculable political consequences.”
Bernanke: Unemployment Poses ‘National Crisis’: . “We’ve had close to 10 percent unemployment now for a number of years and, of the people who are unemployed, about 45 percent have been unemployed for six months or more. This is unheard of.”
The Men We Trusted to Lead Us: Fed Chairman Ben Bernanke referred to the nation’s unemployment rate as a “national crisis,” to finally hear those words from the man George W. Bush and Barack Obama both appointed to lead us out of the great recession is a bracing reminder of how markedly the policies of both those presidents have failed:
Wall Street protesters in for the long haul: A standoff near Wall Street between protesters opposed to what they say is corporate greed and police may drag on into winter, with a march on police headquarters the likely next test of whether tensions escalate.
Germany slams 'stupid' US plans to boost EU rescue fund: Germany and America were on a collision course on Tuesday night over the handling of Europe's debt crisis after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others.
BAE Systems axes nearly 3,000 jobs in UK: British arms manufacturer blames governments' reductions in defence budgets as it cuts jobs in facilities across the UK.
Protesters plan to occupy London Stock Exchange: A group of protesters are organising an occupation of the London Stock Exchange to bring attention to what they see as unethical behaviour on the part of banks, following a similar demonstration on Wall Street.
'Occupy Wall Street' Fighting Bankster Greed and the Surveillance State: The crackdown on the Wall Street protesters this weekend seems to have backfired. The campsite-cum-experiment in radical democracy is still there, holding general assemblies just shouting distance from Goldman Sachs and the Wall Street bull. It even appears to be growing.
Occupy Boston: smart, savvy, and aiming to emulate Wall Street protests: About 200 people in Boston express their outrage at America's economic woes – and promise to take up the protest baton
U.S. economy on ‘knife edge’ of contraction: Fed economist: The U.S. jobs engine has lost momentum and could be set for further "backtracking," Dallas Fed chief economist Harvey Rosenblum told a forum sponsored by the greater San Antonio Chamber of Commerce. Meanwhile, he said, there is also a "credible" risk of rising inflation.
Record numbers seeking government aid, Sacramento welfare chief says: One in four county residents is served by the county's welfare agency, Wagstaff said.
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