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US debt surges $328 billion in single day, surpassing $17 trillion for first time
Just one day after President Barack Obama signed into law a bipartisan deal to end the government shutdown and avoid default, the US debt surged a record $328 billion, the first day the government was able to borrow money.
Fasten your seatbelt, because the US debt rate is racing out of control and nobody seems to know where or when the spending will end: The US debt now equals $17.075 trillion, according...
Killer GMO looking for shelter in Russia
While in the West hundreds of thousands of demonstrators are protesting against the wide spread of genetically modified foods, Russia has taken a complex stance in relation to GMOs. On the one hand, the Russian President is hinting at the possibility of a total ban of such products, while on the other hand Russia has ratified international agreements that do not allow such bans.
Meanwhile, a clear...
Italians go on strike to protest austerity measures
Demonstrators dressed to represent prisoners, hold chains and a mock cannonball during a protest against the reforms by the Italian government in downtown Rome, October 18, 2013.
Thousands of Italian civil servants and transport workers have gone on strike in the capital Rome and other cities to protest against austerity measures enforced by the government.
Friday strike, which disrupted urban transportation,...
'Manufactured' crisis cost US $24bn - S&P
Standard & Poor’s says the shutdown in total cost the US economy $24 billion, or $1.5 billion per day, the rating agency said Wednesday. The agency also estimated the shutdown will pare fourth quarter GDP by 0.6 percent.
Obama has signed legislation that will avoid a technical debt default, ending the 16-day partial shutdown of the government that has cost the world’s largest economy...
15,000 Greeks to be kicked out of their homes by the government
Now that Samaras has kept his word to the US Zionists about repressing Golden Dawn in every way, Samaras and his government now proceed to keep their promise to the international money lenders. He is now lifting his axe getting ready to evict 15,000 Greeks who due to circumstances of the crisis cannot meet their mortgage obligations.
The finance and development ministries have for the initial wave...
Cold War ongoing between Russia and EU?
Polish MEP Jacek Saryusz-Wolski believes that the Cold War is ongoing between Russia and the EU that can take a long time. Both European officials and the Russian leadership have already stated that economic integration with the EU and membership in the Customs Union are incompatible. Ukraine and Moldova have about one month left for consideration.
Armenia has already “surrendered,” according...
30 million living in slavery worldwide: WFF report
A report by an international foundation on modern slavery has revealed that nearly 30 million people are enslaved across the globe.
The index released by the Walk Free Foundation (WFF) on Thursday said the slaves are either trafficked into brothels, forced into manual labor, fall victims to debt bondage, or are even born into servitude.
Almost half of these people are in India, where “by far...
US avoids default as Congress passes deal to end shutdown
US President Barack Obama has signed legislation passed by Congress Wednesday to temporarily lift the debt ceiling and end the government shutdown, averting the threat of default just hours before the October 17 deadline.
The legislation funds the government through to January 15 and lifts the $16.7 trillion debt ceiling until February 7. The White House budget director, Sylvia Mathews Burwell, said...
Russian weapons coming to Brazil instead of American ones
The Russian military delegation headed by Defense Minister Sergei Shoigu flew to Brazil. The visit to sunny Brazil is based on the subject of arms supplies. The Russian minister also plans to visit Peru to discuss and sign contracts for the supply of arms in the total amount of about $1,7 billion. In general, Russia is strengthening its position on the arms market in Latin America.
In Brazil, Russian...
US Senate to announce debt limit deal
Republican and Democratic leaders in the US Senate are reportedly “very close” to announcing a deal on the nation’s borrowing authority that would avert an unprecedented default on US debt.
Harry Reid and Mitch McConnell, the Senate majority and minority leaders held talks on Wednesday morning as the Thursday deadline on the debt limit is fast approaching.
The US Treasury taps out its reserves...
White House rejects House Republican proposal
The White House has rejected a new proposal by House Republicans to prevent a debt default less than two days before the debt ceiling deadline.
“The president has said repeatedly that Members of Congress don’t get to demand ransom for fulfilling their basic responsibilities to pass a budget and pay the nation’s bills,” White House spokeswoman Amy Brundage said in a statement on Tuesday.
“Unfortunately,...
Plan B: Central banks getting ready for financial Armageddon
If the US debt-ceiling debate goes past the eleventh hour, and the default of the world’s largest economy becomes a reality, leading central banks around the world are gearing up to minimize losses and keep the world economy functioning.
If US lawmakers don’t reach a budget consensus and raise the debt ceiling by Thursday October 17, the US will become the first Western power to default since...
London branded as worst places to live in UK
The British capital city of London has topped a list of 50 worst places to live in the UK.
The British capital city of London has topped a list of 50 worst places to live in the UK.
London was rated as the UK’s most hated area in a book identifying the country’s least desirable locations, which is entitled “Crap Towns Returns.”
The book was based on online contributions from British people...
Greece to become energy dependent after deal with Israel
On August 7, 2013 Golden Dawn published an article called analysis of the positions of the Golden Dawn for the use of Greek energy wealth and our negative attitude towards the prospect of Israeli involvement in this huge national issue. A few days later, we responded officially to this lobby in response to the words of the President of the American-Jewish committee David Harris. The visit of Samaras...
Data shows jump in Greece jobless rate to 27.6% in July
Official figures show that the unemployment rate in Greece jumped to 27.6 percent in July from a revised 27.5 percent in June, as the financial crisis continues to take its toll on jobs in the country.
Greece’s statistics service ELSTAT said on Thursday that 1.36 million people were unemployed in July, up ten percent from a year earlier.
The country’s jobless rate was over twice the eurozone’s...