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HAEJU, North Korea — In a pediatric hospital in North Korea's most productive farming province, children lay two to a bed. All showed signs of severe malnutrition: skin infections, patchy hair, listless apathy.
In an interview on BBC yesterday, International Monetary Fund (IMF) adviser Robert Shapiro said something quite alarming: without a plan to save the Euro, the global economy will collapse “in two to three weeks.”
The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.
Credit rating agency Moody's downgraded Britain's part-nationalized banks Lloyds and Royal Bank of Scotland on Friday, although Britain's finance minister said UK banks were well-placed to cope with a European debt crisis. The cuts to RBS and Lloy
Moody's Investors Service cut Italy's bond ratings by three notches on Tuesday, saying it saw a "material increase" in funding risks for euro zone countries with high levels of debt.
Moody’s Investors Service has downgraded Italy’s government bond ratings to “A2” with a negative outlook from “Aa2,” the result of high debt, a weak global economy and political uncertainties that delay corrective action. While the change moves th
The Russian prime minister on Tuesday floated the idea of forming a "Eurasion Union" of former Soviet states that he says would be similar to the European Union. Putin said the goal would be to "create real conditions to change the geopolitical and g
About The Horrific Economic Crisis That Is Almost Here - Europe has had a tremendously difficult time just trying to keep Greece afloat, and several much larger European countries are now on the verge of a major financial crisis
(Reuters) - Following a now-familiar script, Europe again averted disaster in its debt crisis when German lawmakers rallied behind Chancellor Angela Merkel to approve a stronger euro zone bailout fund on Thursday.
Emerging market currencies have sold off heavily in the past two weeks as investors opted for safe haven currencies like the dollar and yen. That in turn sparked a frenzy of central bank intervention in the currency markets.
...my driver is a terrifically fascinating person that I’ll call Henrik. In the late 1980s, Henrik was part of an elite military unit that saw action in South Africa’s Border War, an outgrowth of the Angolan Civil War that had been raging for more th
This was an email sent to me by Chris McConnell of Fiduciary Forensics in which he gives his views on how the economy and financial system arrived at the point we find ourselves now. Saturday, September 24, 2011 Hi Martin, Hi Mike, Please di
The "BBC TV" trader, whose clip Zero Hedge first presented to the broader world and has since become an internet sensation with well over 1 million views, has just made the prime time TV circuit with a first stop on CNN. Here is some more of his stor
EU's two most cherished achievements _ a common currency and the free movement of people across borders - are under threat. And the possibility that the decades-long experiment that is the EU might not survive in its present form has now entered main
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,"
In a stunning statement, Alessio Rastani, a trader has prophesized that millions of people will lose their savings within a year! However, he qualified the stunning statement with the remark that not only traders but just any ordinary investor now
In a scary and painfully frank interview a freaked out BBC interviewer is visibly shaken when market trader Alessio Rastani predicts that the "Market is Toast." Apparently there is nothing Euro governments can do.
In a scary and painfully frank interview a freaked out BBC interviewer is visibly shaken when market trader Alessio Rastani predicts that the "Market is Toast." Apparently there is nothing Euro governments can do.
World leaders were warned last night that they have just six weeks to save the euro from collapse.
The International Monetary Fund may be hoping to increase its financial resources from $940 billion to at least $1.3 trillion, according to a newspaper report out Monday.
Christine Lagarde has signalled that the International Monetary Fund (IMF) may have to tap its members – including Britain – for billions of pounds of extra funding to stem the European debt crisis.
For the fathers of the euro, the end of the Cold War in 1990 was a time for worry as well as celebration. As they looked to the future, they were also obsessed with the continent’s bloody past. Would a new Europe, and especially a reunified Germany,
When the world's leaders begin to warn of something in concert, we try to peer beneath the surface to see what they are really driving at. Austerity – ... – is one aspect of it, perhaps. But the installation of a global currency is perhaps another. P
Across Africa, scores of tiny manufacturers have been going where most multinationals fear to tread. They not only make chocolate in Madagascar, but also leather shoes in Nigeria and hot sauce in South Africa. They're testing whether a continent with
Oswald Grübel resigned as chief executive of embattled Swiss bank UBS AG in the wake of a trading loss that cost the bank more than $2 billion and now has cut short the career of a giant of Switzerland's business community.
Over the past few centuries, Western cultures have been very good at creating general prosperity for themselves. Historian Niall Ferguson asks: Why the West, and less so the rest? He suggests half a dozen big ideas from Western culture -- call them t
The world economy has entered a “dangerous new phase” of declining growth that will require policymakers to take action, the chief economist of the International Monetary Fund (IMF) warned Tuesday.
PBS NewsHour Markets on Monday continued to show anxiety over the European debt crisis as Greece held an emergency conference with creditors, trying to calm fears of default. Speaking with Judy Woodruff, World Bank President Robert Zoellick ur
The world economy has entered a "dangerous new phase," according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Euro
Angela Merkel's government suffered a humiliating defeat to the opposition Social Democrats and Greens in key city state elections in Berlin last night as divisions within her coalition over the Greek debt and the future of the euro deepened further.
