US: The Next USSR? Ferguson Says Economy on Edge of Chaos

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US: The Next USSR? Ferguson Says Economy on Edge of Chaos

Harvard University history professor Niall Ferguson compares the United States economy to complex systems in nature. The U.S. financial system may appear from the outside to be in equilibrium, says Ferguson, but it is actually "quite close to the edge of chaos."

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U.S in Libya: Get shot by your own bullets

22 mar | By Sean Maguire

There are few people in this world who would defend Gaddafi as a sane and viable leader of Libya; but I think there would be even less that would see the logic in the U.S selling guns to someone as psychotic as him and then parading about as world police.

It's the equivalent of a sheriff giving an outlaw a six-shooter and then acting surprised when he starts popping off the town folk.

The second one U.S plane gets shot down by one U.S surface-to-air missile, all the military big wigs should get together and make a decision once and for all - "we have to stop shooting at tyrants we've given guns to".

What do you think about Libya? What do you think about the obvious contradictions in U.S foreign policy and how do you think they should be addressed? Tell us and remember...Disqus! . . read more

Will We Heed President Obama's Call for a More Empathic Society?

14 jan | Will We Heed President Obama's Call for a More Empathic Society? . . read more

Should the U.S. Default on Its Debt?

5 mar | International economist Dambisa Moyo examines the notion that the United States should deal with its rapidly escalating debt by simply refusing to pay it off. Although Moyo regards default as an option of last resort, she notes that it wouldn't be one without precedent: "The idea that big countries never default... is something that is not true." . . read more

No Banker Left Behind

25 feb | The economy is anything but sound, but you would hardly know that from looking at the balance sheets of the big investment banks. Wall Street bankers apparently have a license to steal- by Robert Scheer . . read more

Clinton Slams Bachmann's SOTU Response

5 feb | President Bill Clinton doesn't believe the United States is in decline, though he does admit its "relative position is changing." He stresses the need for the U.S. to maintain a strong economy, and attacks partisan politicians like Michele Bachmann for "conducting politics in a parallel universe divorced from reality with no facts." . . read more

Visualizing Obama's budget cuts. Student Explains Obamanomics in 1 Minute

2 feb | Trying to understand the economy nowadays is laughable, the figures that are thrown about like 'hundreds of millions', 'billions' and 'trillions' mean as much to a guy earning $5 an hour as the exponential function of the number 'e'. Politicians have long realised this and know that to throw about such grandiose numbers helps to distort what's really happening and helpa to keep Joe Average scratching his head and silent. Here a great video helps even the most mathematically incompetent amongst us visualise how Obama's budget proposals measure against the budget defecit and what the country is really up against. . . read more

Obama press conference on the economy: An exercise in demagogy and lies

12 sep | Obama press conference on the economy: An exercise in demagogy and lies . . read more

Financial Reform Filibuster: Who Blinked To End It?- by Jason Linkins

30 apr | Financial Reform Filibuster: Who Blinked To End It?- by Jason Linkins . . read more

U.S. Economy Is Not As Bad As You Think

6 feb | Popular author and economist Ben Stein argues that the current downturn in the U.S. economy will not last for as long or be as severe as many analysts are predicting. . . read more

Are Our Bankers Too Clever for Their Own Good? - David Wessel

13 aug | Wall Street Journal economics editor David Wessel explains the current financial crisis as the product of too clever minds, too much money, and very little accountability. "The brightest of our youth were lured to finance because the pay was so big," says Wessel. "They didn't care about the problems they were creating if the house of cards fell down." . . read more

THOUGHT FOR THE DAY!

"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." -- Ronald Reagan (1986)

Mavi Marmara: Israeli officers face Turkish trial

A Turkish court has charged four senior Israeli military commanders over the killing of nine Turkish activists trying to reach Gaza in 2010.

Ex-military chief of staff Gabi Ashkenazi and former heads of military intelligence, the navy and air force are expected to be tried in absentia.

The nine pro-Palestinian activists were killed after Israeli troops boarded their ship, the Mavi Marmara.

They had been hoping to breach Israel's naval blockade and deliver aid to Gaza.

Ron Paul on Why Bankster Power Must be Eradicated

It is imperative that the American people be educated on the dangers of the Fed and the importance of restoring sound money. Now that nearly 50 years have elapsed since silver was removed from circulation, fewer and fewer Americans have firsthand familiarity with real money.

The laying of the groundwork must begin today, so that the American people will be prepared for the day when the mirage the Fed has created evaporates completely.

Chinese army general calls for 'decisive action' vs PH

China should launch "decisive action" against the Philippines to reinforce Beijing's claim on the disputed Scarborough Shoal, a hardline Chinese army general said Friday.

People's Liberation Army (PLA) Major General Luo Yuan, in a commentary published by state-owned website china.org.cn, said China has not abandoned the idea of "war at all costs" to protect its interests.

"'Peaceful rise and 'period of strategic opportunity' preclude war," said Luo, who has been described by Western media as "hawkish" for his ultranationalist views.

"It is incorrect to assume that China will completely rule out military action in any event during this 'period of strategic opportunity,'" he said, referring to Beijing's dispute with Manila.

Think Again From The Outsider

The great challenge facing everyone who wants to change the world we live in is how do you get traction for your ideas? Gunter Pauli the inventor of the ‘blue economy’ has a novel approach. His missionis to develop globally 100 manufacturing innovations with viable business models that could generate 100 million jobs in 10 years. All with zero emissions and no waste.

The novelty? To drive this revolution in an economic framework that will attract investors and governments in entrepreneurial partnerships that feed self-interest while revolutionising outcomes – particularly in relation to carbon.

The blue economy was initially a report to the Club of Rome recommending innovations inspired by science and biometrics. This is a truly cool equation. Science + Economics = A Better Future.

The Really Big Apple

Recently it was announced that Steve Jobs had an FBI file that detailed his personality, how he ran his company and the possibility that he would be appointed to George Bush Sr.' s government.

What is more interesting about Apple at the moment is the $100bn in cash reserves it's accrued and what it might use them for.

End world hunger?

Take over other companies?

Pay its suicidal employees more?

Whatever it chooses, we should really stop focussing on Jobs' genius and start thinking about how the wealth his genius created can be spent for good.

The Future of Trust - From The Outsider

The images of senior Australian politicians being bundled into cars to escape the threat of indigenous demonstrators confirms how weak the post-apology environment is in Australia. The whole point of the apology was not to say 'sorry' but to build a new platform for the positive evolution of indigenous Australians. The apology created a climate of trust but the ignoble inaction that has followed, apart from proposed tinkering with the Australian constitution, has destroyed the platform and the belief in the trustworthiness of political process. Can't we (non-indigenous Australians) actually do something? Something communal not bureaucratic, spiritual not gestural – something that shows that we care.