Argentina passes pension takeover

Private pensions are no more in Argentina. The Senate approved the nationalisation of 10 bank-owned pension funds. This is political move which was heavily criticised by the opposition to no...

Brazil recalls Ecuador ambassador

In reaction to the suspension of payments on a Brazilian loan worth at least $320 million and the filling of an international arbitration, Brazil decided to recall its Ambassador to Quito for further...

Government privatization agency downplays financial risk to Victoria hospital...

The head of the B.C. government agency charged with promoting privately financed public infrastructure has a rosy view of the current credit crisis facing the European banks that are putting up the capital for an...

Michael Jackson ends Neverland adventure

Michael Jackson's Neverland adventure is over.  After facing foreclosure earlier in the year, he has turned title of Neverland Ranch to Sycamore Valley Ranch Co.  It apparently will be renamed the...

Regulators nix credit card debt forgiveness plan

Personal responsibility is still a pillar of Conservatism, believe it or not. So, they forgive the mortgage companies, AIG, all the Big Banks, hedge funds, Ford, GMC, and Chevy, but not the college girl with her...

How to protect yourself in a recession

"Here are some things you can do to protect yourself in a recession:Debt: The government, and Americans as a whole are carrying large sums of debt. The fact is that you can't get to prosperity by borrowing. However, that has not stopped the federal government from increasing...

No oxygen in the IMF ventilator

"By Mosharraf ZaidiThe News InternationalBeing of Pakistani origin qualifies an IMF employee to be as much of a Pakistani economy expert, as being of Pakistani origin qualifies a child that eats a lot of Krispy Kreme doughnuts to be an expert in Pakistani child nutrition....

Living on credit - the footprint crisis (English translation below)

"Après la crise de l'emprunt, la crise de l'empreinte. Nous sommes en train de nous noyer dans un océan de dettes et voilà que le WWF nous envoie une drôle de bouée en forme d'empreinte écologique. En gros, cette honorable assemblée de protecteurs de la nature nous...

Week of global action against debt

Tim Flannery recently posed a provocative question: "Sometime this century, after 4 billion years, some of Earth’s regulatory systems will pass from control through evolution by natural selection, to control by human intelligence. Will humanity rise to the challenge?" I...

British Columbia perspective: Economy is a Pyramid Scheme designed to fail

Victoria, BRITISH COLUMBIA -- Why can't anybody see this 'economy' is a complete farce? Seriously, wake up and use your critical thinking skills for just a minute. This is a pyramid scheme designed to fail that...

'Under Water' Mortgages are Growing Threat to US

So many shoes have dropped in this financial saga that I've lost count.  Here is the most recent."As the financial crisis hits Main Street America, nearly one in six U.S. homeowners are finding themselves in...

McCain Sharply Criticizes Bush's Policies as 'Abuse of Power'

"In his most forceful effort yet to distance himself from President Bush, John McCain slammed the current administration's policies and chastised Bush for increasing the debt burden for future generations, failing to fund expanding Medicare and abusing executive powers. In...

India call centres hear US pain

"GURGAON, October 15 With her flowing, hot-pink suit, jangly silver bangles and perky voice, Bhumika Chaturvedi, 24, doesn’t fit the stereotype of a thuggish, heard-it-all-before debt collector. But lately, she has had no problem making American debtors cry. For the past...

The days of "easy" credit .... GONE !!

"American debt nightmare ends easy credit eraExperts say crisis could spark shift away from maxing out credit cards""Is America's long era of easy credit over?Experts say that even when the current credit crunch...

NYC National Debt Clock runs out of digits

This is interesting as i did not know about this clock, of course its also because i never been to NYC. But this is a sign of the times of the growing problem the U.S faces and the sign of decline of the...

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