China overtakes Japan as No. 2 economy

Japan lost its place as the world's No. 2 economy to China in the second quarter as receding global growth sapped momentum...

Job market is especially cruel for older workers

More Americans 55 and older are working longer, and those who are looking for jobs face a technologically transformed market where potential employers may deem them overqualified.

The recession has not been kind to older workers. With their 401(k)s battered, home values deflated and healthcare costs rising, many have resigned themselves to staying on the job indefinitely. The trend was well underway before the downturn as many continued working to pad their savings or to stay active.

Source: www.latimes.com

Author who foresaw global crisis fears worse ahead

An author who saw the global financial crisis coming fears the next bubble will come in the form of inflation and has little confidence US President Barack Obama's team is up to the challenge ahead.

"The Democrats have replaced the Republicans as the big benefactors to the financial community," said Kevin Phillips, author of "Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism."

Source: www.dailystar.com.lb

There's still bad news ahead for the U.S. economy "financial shocks are going to be worse than expected.."

Nouriel Roubini, a professor at New York University's Stern School of Business and chairman of economic research firm RGE Monitor, said on Tuesday that he expected more dour macroeconomic data and problems in the banking and housing sectors, as well as pressures on consumers.

Source: http://finance.yahoo.com

Quick!!! While He’s Outta the Country, Let’s Change it Back to ‘America’!!!!!!!

The Prez has flown to England and there’s only one thing to do while he’s gone: Let’s get our country back. Okay, it’s not going to be easy, there are a lot of hurdles.

I’m pretty sure I can take Harry Reid, Chris Dodd, Chuck Schumer, Maxine Waters, and that puffball press secretary Gibbs. Multiple adversary bash-a-thon!!! Hai-Yah!!



Source: http://bighollywood.breitbart.com

Obama, and the U.S., due for a serious 'G20' Ass Kicking when he lands in Tokyo on tuesday.....

In this report from the International Herald Tribune titled, Barack Obama will face a defiant world on foreign visit ,despite his immense popularity around the world, Mr. Obama will confront resentment over American-style capitalism and resistance to his economic prescriptions when he lands in London on Tuesday for the Group of 20 summit meeting of industrial and emerging market nations plus the European Union.

"The rest of the world is yearning for him," said Kenneth Rogoff, a Harvard economist. "On the one hand, they'll all be criticizing him, and criticizing the American model. But they all want to hear that he does have a miracle to deliver."

Source: www.iht.com

Politician: 'I share blame for economic crisis'

Interviewed last night he explicitly said he was sorry for his mistakes. 'Of course I'm sorry that we have got some things wrong,'...

Read more the blame, the shame...the same

Source: www.dailymail.co.uk

Global woes pose risks, also openings for US

Japan and major European countries have joined the United States in falling into recession. China has seen its remarkable three-decades long export-fueled rise slowed. Oil-based economies on Washington’s worry list such as Iran, Russia and Venezuela, are reeling, too...

Read more Global woes pose risks possible openings for U.S.


Source: boston herald

West Urges Global Financial Overhaul

Not only is the worst financial crisis in 80 years helping push the West into recession, economies in eastern Europe are suffering, turning to foreign lenders to bolster their financial systems, while Asian nations struggle for their own solutions..

Read more West urges financial overhaul, Asia and E.Europe hit




Source: reuters

$500 Billion Sovereign Wealth Fund Seeks Safety

The oil-rich emirate of Abu Dhabi oversees the world's largest government-sponsored fund and has been steadily increasing its cash position to the highest level it has been in years..

According to people who have been briefed on its investment strategy, the Abu Dhabi Investment Authority now has a cash position between 10 and 20 percent of its total size, estimated at $550 billion....

Read more Sovereign wealth funds seek safety