Monday, November 14, 2011

The mathematical law that shows why wealth flows to the 1%

One of the main issues raised by the Occupy demonstrators is the inequitable distribution of wealth. Their slogan focuses on the extreme difference between the richest and the poorest: "We are the 99%," say the banners and T-shirts, pointing out that 1% of the world's population has somehow clawed its way to disproportionate money and power. Time to do something about this unnatural distribution, no?

Chance of 2012 U.S. recession tops 50 percent: Fed paper

(Reuters) - The European debt crisis is raising the odds of a U.S.recession, with economic contraction more likely than not by early 2012, according to research from the San Francisco Federal Reserve Bank.

New York art auctions see record prices

The stunning $61.7 million sale of a painting by American abstract artist Clyfford Still capped a week of record prices at auctions in New York, despite turmoil in the world's financial markets.

Italy at risk of exiting euro zone: Roubini

MOSCOW (Reuters) - Italy's emergency package of fiscal reforms will probably fail to keep its cost of borrowing on financial markets at affordable rates and the country faces the risk of a debt default and departure from the euro zone if more aggressive action is not taken, economist Nouriel Roubini predicted on Saturday.

Europe's Rescue Funds Get Little Traction

Why EU Growth Forecast Fell

Domestic Demand Isn't Ready To Support EU Growth
The European Commission last week published a remarkably grim outlook for the European economy, as we have already noted. The EU’s executive arm sees GDP growth next year of just 0.6%, down from its forecast just six months ago of 1.9%. The 2011 forecast was cut to 1.6% from 1.8%.

Fresh concern over eurozone debt crisis

Italy's political party leaders were locked in talks Sunday to choose a successor to Silvio Berlusconi as Greece prepared to implement painful austerity measures to unlock fresh bailout funds.

Japan economy rebounds from post-quake slump

Europe Heading Towards Bank Nationalization

Euro-Zone Factory Output Falls -

Portugal public workers, soldiers protest against austerity

Portugal public workers, soldiers protest against austerity

Italy easily raises euro3 billion in bond auction

Italy easily raises euro3 billion in bond auction -