A million more working Britons have been pushed into poverty because of soaring housing costs and stagnant wages. That’s according to a new UK government report attacked bitterly by unions and rights groups. New figures published by the UK government reveal that the number of working Britons below the poverty line has risen by at least 1 million. The government, however, insists the poverty... 

The US economy shrank at a much faster pace in the first quarter of 2014 than previously estimated, marking its worst performances since 2009. The Commerce Department said on Wednesday gross domestic product fell at a 2.9 percent annual rate, instead of the 1.0 percent rate it had reported last month. Most economists had expected the revision to show the economy shrinking at a rate of only 1.7 percent.... 

Have you noticed that prices are going up rapidly? If so, you are certainly not alone. But Federal Reserve chair Janet Yellen, the Obama administration and the mainstream media would have us believe that inflation is completely under control and exactly where it should be. Perhaps if the highly manipulated numbers that they quote us were real, everything would be fine. But of course the way that the... 

Smoke of wood stoves rises over cities of Greece, Spain suffers from youth unemployment, Germany raises retirement age to 76 years, whereas in the heart of London, people gather to protest against austerity measures. Who benefits from multiplying the poor in Europe? Has the tale of good European life been destroyed? “In winter you can heat your house with gasoline-powered radiators, –... 

America, its government, businesses, and people are nearly $60 trillion in debt, according to the latest economic data from the St. Louis Federal Reserve. And private debt, not government borrowing, is the biggest reason for the huge deficit. Total US debt at the end of the first quarter of 2014, on March 31 totaled almost $59.4 trillion – up nearly $500 billion from the end of the fourth quarter... 

Russia has set a deadline for Kiev to pay part of its debt to Moscow or the flow of Russian gas to Ukraine will be halted. The acting Kiev government has until June 3 to pay part of its debt or face cuts in natural gas supplies from Russia. According to Russia’s Gazprom CEO Alexey Miller, with last month’s consumption included, Ukraine’s debt will rise to USD 5.2 billion by June 7. Russia has... 

The U.S. Department of Agriculture (USDA) released a report recently which details changes in food price indexes for the years 2012-2014. Astonishingly in the report, the U.S. is headed for a massive increase on certain foods in the coming months. For example in 2012 there was a 2.6% increase in for the cost of consumer foods as a whole, raising 1.4% more in 2013. However, with farmers and meat producers... 

Thousands of Australian students continue their protest marches against government cuts to higher education. On Wednesday, a student gathering in front of the University of Technology in Sydney led to clashes with security forces. Sources say Australian police also arrested at least two students there. After the rally broke up, dozens of angry students staged a sit-in at an intersection, blocking... 

Thousands of activists took to the streets of Germany and Spain on Saturday to protest the EU’s policies as the union prepares for parliamentary elections at the end of May. In Germany, the EU’s powerhouse, people participated in a day of anti-Brussels protests in Hamburg and the capital Berlin. A rally in Berlin broke out into clashes between protesters and police. Around 1,000 people marched... 

Briton’s wealthiest people own a third of the country’s GDP, with a combined fortune of 874 billion dollars, which is an increase of 15.4 percent on last year’s total, according to an annual survey. The Sunday Times Rich List shows that the United Kingdom’s richest are richer than ever before, which is in sharp contrast with many ordinary Britons who are struggling after five years of austerity. “I’ve... 

Tens of thousands of Australians are out on the streets nationwide to condemn the government’s envisaged budget cuts in the education sector. On Sunday, tens of thousands of Australians hit the streets in several cities to show their anger at the government’s economic and social policies. The protest rallies were held in Sydney, Adeline, Brisbane and Melbourne. They slammed the government... 

As the price of meat continues to skyrocket, will it soon be considered a “luxury item” for most American families? This week we learned that the price of meat in the United States rose at the fastest pace in more than 10 years last month. Leading the way is the price of shrimp. According to the U.S. Bureau of Labor Statistics, the price of shrimp has jumped an astounding 61 percent compared to... 

Demonstrators hold a banner that reads “No to the austerity, yes to the social Europe” during a rally in Paris on September 30, 2012. Thousands of civil servants in France have held a one-day strike over pay and work conditions. The demonstrators marched in several cities on Thursday to protest against the government’s planned spending cuts. The strike came after the government last month... 

Unionists have held a massive demonstration in Argentina’s capital, Buenos Aires, demanding that the government address economic and social problems, Press TV reports. According to estimates by security forces, around 50,000 people participated in marches leading to Argentina’s Presidential Palace on Wednesday. The demonstrators condemned the growing inequalities fuelled by the economic crisis... 

Is the petrodollar monopoly about to be shattered? When U.S. politicians started slapping economic sanctions on Russia, they probably never even imagined that there might be serious consequences for the United States. But now the Russian media is reporting that the Russian Ministry of Finance is getting ready to pull the trigger on a “de-dollarization” plan. For decades, virtually all oil and...