Monday, 08 October 2012 08:53
'A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month.
So who am I talking about? Not the United States – the economy that I am talking about has a GDP that is more than two trillion dollars larger. It is not China either – the economy that I am talking about is more than twice the size of China. You have probably guessed it by now – the largest economy in the world is the EU economy. Things in Europe continue to get even worse. Greece and Spain are already experiencing full-blown economic depressions that continue to deepen, and Italy and France are headed down the exact same path that Greece and Spain have gone.
Headlines about violent protests and economic despair dominate European newspapers day after day after day. European leaders hold summit meeting after summit meeting, but all of the “solutions” that get announced never seem to fix anything. In fact, the largest economy on the planet continues to implode right in front of our eyes, and the economic shockwave from this implosion is going to be felt to the four corners of the earth.'
Monday, 08 October 2012 08:38
'Chancellor George Osborne is to announce plans to slash an extra £10 bn from the welfare budget by 2016-17 at the Conservative Party Conference on Monday.
On top of the £18 billion cuts already under way, child support could be cut for jobless parents who have more than one child and benefit increases could allowed to be lower than the rate of inflation.
Housing benefit for the under-25s also looks set to be targeted. Prime Minister David Cameron has previously said should live with their parents if they cannot afford to fund their own home.'
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