Is greed good? Research from the U.S. suggests inequality in a culture makes that society stronger Are greedy bankers good for society? Egalitarian civilisations ‘are weaker’ than those with inequality. Shortages of food affected the poor more, but the upper classes were able to maintain hierarchies. In equal societies everyone suffered the same, making those cultures less able to adapt... 

Palestinian President Mahmoud Abbas The Palestinian Authority has claimed its people are victims of “collective punishment” after accusing the United States of blocking $200 million in aid in response to President Mahmoud Abbas’s application for UN statehood. The freeze on funds, which has been unpublicised, was reportedly put in place in August, ahead of Mr Abbas’s planned... 

France is implementing austerity measures with a new budget proposal that would cut government spending for the first time in decades, Press TV reports. The 2012 budget proposal of French President Sarkozy’s government is the first to reduce public spending since World War II. “This was a budget created to please the European commission in Brussels. It stems from the desire to drastically... 

Obama slammed the Europeans at an event in Mountain View, California on Monday. US President Obama has given the Europeans a harsh lecture on the dangers of their ongoing debt crisis. Offended by the unsolicited advice, Europeans have suggested the US get its own house in order first. Obama’s remarks were “arrogant” and “absurd,” German commentators say on Wednesday. Europeans... 

US gives away billons in assets in Iraq The United States Depart of Defense has found a nifty way of cutting costs in planning for the withdrawal of troops from Iraq. Rather than ship home millions of pieces of equipment from Americans bases abroad, the military is simply giving them away. Nearly two-and-a-half million pieces of equipment, estimated at a cost of $250 million, have so far been given... 

Standard and Poor's dropped Italy's credit rating from A+ to A. Standard & Poor’s drops credit rating to A from A+, blaming sluggish economy and ineffective government reforms. Italy has had its sovereign credit rating cut by Standard and Poor’s, with the ratings agency keeping the country’s outlook on negative in a surprise move that may add to contagion fears in the... 

Dollar exchange rate continues to rise, despite the enormous national debt and virtually pre-default state of the USA. Why? 
Mikhail Fedorov, analyst of “RIC-Finance”:
 “Today, because of the debt crisis the Eurozone and the U.S. became competitors in terms of their attractiveness to outside investment, and therefore their ability to fund their own public loans. In fact, they... 

European stock markets fall as Greece seeks to convince EU and IMF officials it can avoid a default, 2011-09-19. European stock markets have plunged once again amid fresh fears of Greece defaulting and more signs of economic weakness in the region. Frankfurt’s DAX 30 index fell by 3.20 percent, while in Paris the CAC 40 dived 2.73 percents on Monday, AFP reported. The London FTSE 100 index plunged... 

US President Barack Obama speaking at the White House in Washington on September 19, 2011 US President Barack Obama has unveiled a new plan to reduce the country’s yawning deficit by more than USD 3 trillion over the next decade, Press TV reported. Some USD 1.5 trillion is expected to be raised through an increase in taxes for the wealthy and corporations. “We can’t just cut our way out... 

The “endgame” in the eurozone’s debt crisis is fast approaching, analysts declared yesterday, amid growing warnings from politicians and bankers that the reality of a Greek default and possible exit from the eurozone can be denied no longer. German chancellor Angela Merkel and French president Nicolas Sarkozy will hold a conference call with Greek premier George Papandreou today,... 

Beijing: Visitors have their photos taken at Tiananmen gate in Beijing on August 17, 2011. China has allowed its currency to hit a series of record highs against the USD over the past week in a move analysts say may signal a new strategy to combat the growing threat of inflation. With Italy second only to Greece in the Eurozone in terms of its debt-to-GDP ratio, the Italian government is eyeing China... 

Former Defense Secretary Donald Rumsfeld warned that it will only be a matter of time before America endures another terrorist attack if Congress ends up blaming the defense budget for this country’s red ink woes. “The Department of Defense is not what’s causing the debt and the deficit. It’s the entitlement programs,” he told HUMAN EVENTS in an exclusive interview. “If we make that mistake,... 

Obama’s $450 billion employment package to save ONE job: his! Struggling President unveils plan to cut tax for middle class but who pays? Facing a barrage of criticism over his handling of the economy, President Obama last night unveiled a massive $450bn plan to combat the country’s unemployment crisis – and try to save his own job. In a rare address to a joint session of US Congress... 

Riot policemen spray tear gas as they clash with demonstrators in front of the Greek parliament on June 29, 2011 during a protest part of the 48-hour general strike against the bankruptcy-threatened government which is desperately trying to push through sweeping austerity cuts. Protests have spread across Europe as Greece, Italy and Spain are struggling to hold on to the euro. Meanwhile, residents... 

Protestors march on September 6, 2011 during a demonstration organized by the leftist General Confederation of Italian Workers (CGIL) union against the government's economic policy in the center Rome. Tens of thousands of people are stranded. Factories are closed, airports and train stations deserted. An entire nation comes to a standstill as Italy’s largest trade union, the CGIL, calls...