Six years after the Lehman disaster, the industrialized world is suffering from Japan Syndrome. Growth is minimal, another crash may be brewing and the gulf between rich and poor continues to widen. Can the global economy reinvent itself? A new buzzword is circulating in the world's convention centers and auditoriums. It can be heard at the World Economic Forum in Davos, Switzerland, and at the [...]

The sanctions imposed on Russia by the US and the West, among other financial blunders, are mistakes that have triggered the world to de-dollarize. Russian President Putin describes this as like "cutting down the branches, upon which they are sitting." Putin said that sanctions have an overall negative effect on the entire global community, and actually motivate countries to seek financial sove [...]

Saudi Arabia has unleashed an economic war against selected oil producers. The strategy masks the House of Saud,s real agenda. But will it work? Rosneft Vice President MikhailLeontyev; “Prices can be manipulative…Saudi Arabia has begun making big discounts on oil. This is political manipulation, and Saudi Arabia is being manipulated, which could end badly.” [...]

The latest indicators suggest Germany's once buzzing economy is beginning to stall. The development has created a serious dilemma for Finance Minister Wolfgang Schäuble. Critics say spurring growth is more important than his goal of a balanced budget. It doesn't take much these days to rile German Finance Minister Wolfgang Schäuble. [...]

The worlds' biggest hotel operator Hilton Worldwide has sold the iconic Waldorf Astoria in New York to a Chinese insurance company for nearly $2 billion, a record for a US hotel. The deal marks the continued Chinese real estate shopping spree in America. Hilton Worldwide Holdings sold the historic landmark to Beijing-based Anbang Insurance Group for a record breaking $1.95 billion, which is the [...]

German industry is feeling the most pressure since the peak of the global financial crisis in 2009, putting Berlin in a difficult position as it preaches tough austerity to its neighbors. Russian sanctions are only exacerbating the economic misery. Industry orders tumbled 5.7 percent in August from July, the fastest since January 2009 when they dropped 7.7 percent, the Germany Economy Ministry [...]

According to one of the top minds in the U.S. Intelligence Community, that is when the United States will enter the darkest economic period in our nation's history. A 25-year Great Depression. And alarmingly, he and his colleagues believe the evidence they've uncovered proves this outcome is impossible to avoid. [...]

Moscow is ready to support Ukraine in its overcoming of the crisis, as the recovery of the bordering country is in Russia's national interests, President Putin said, adding that the state is keen to have a 'reliable, predictable partner and neighbor.' Speaking at VTB’s Russia Calling! annual investment forum on Thursday, Putin said Russia's “closest, fraternal” nation is now in deep polit [...]

An extended period of calm on the bond markets has led many to conclude the euro crisis is over. But German central bank head Jens Weidmann says in an interview that the coast still isn't clear and that there is still great need for reforms. SPIEGEL: Mr. Weidmann, you are notorious for being a tough critic of European Central Bank President Mario Draghi. But the euro crisis seems to be over, la [...]

Germany has long had a reputation for excellent infrastructure. But in recent years, both public and private investment has dwindled dramatically, and officials are increasingly concerned about how to solve the problem. They have good reason to be worried. Despite its shiny façade, the German economy is crumbling at its core. That, at least, is how Marcel Fratzscher sees it. With the country's [...]

When you think of how happy people in a whole country are, what do you take into account? True, country well-being and perception of own happiness depend greatly on the economic situation. But it's Panama that tops Gallup's Global Well-being Index. The Gallup-Healthways index, released for the year 2013, puts the Latin American country at number one, with war-torn Syria and Afghanistan coming i [...]

Western sanctions against Russia, coupled with ongoing political instability in Libya and the advance of ISIS militants in Iraq, could leave the global oil supply exposed and push up oil prices to $150 per barrel, former BP chief Tony Hayward has warned. The former CEO of BP and now chairman of Glencore Xstrata said the recent boom in US shale production has painted an unrealistic image of the [...]

"We need the money," said Emilio T. Gonzales, director of Citizenship and Immigration Services in a May 30, 2007 article in the LA Times. Citizenship Renunciation Fee up more than 400% as of as of Sept. 12, 2014! [...]

Christine Lagarde, head of the International Monetary Fund (IMF) has urged Germany to increase spending to spur the eurozone's flagging economic recovery, and said that a number of structural reforms are needed to revive the bloc’s growth. "We think that public or private investment (in Germany) to finance infrastructure would be welcome," Lagarde told French daily Les Echos in an interview o [...]

Russian Prime Minister Dmitry Medvedev has said the state-owned oil giant Rosneft could receive more than $40 billion in financial aid from the Russian government. The country’s largest crude producer may receive up to $40.6 billion (1.5 trillion rubles) in assistance from Russia’s National Welfare Fund. [...]

Argentina will receive the first tranche of yuan worth up to $1 billion in a massive currency swap with China before the end of this year. The deal will boost the troubled economy's foreign reserves. It comes as part of a loan worth $11 billion signed in July by Argentina's President Cristina Fernandez de Kirchner and Chinese counterpart Xi Jinping during hisLatin America tour- shortly before t [...]

America – its government, businesses, and people – are nearly $60 trillion in debt, according to the latest economic data from the St. Louis Federal Reserve. And private debt – not government borrowing – is the biggest reason for the huge deficit. Total US debt at the end of the first quarter of 2014, on March 31 totaled almost $59.4 trillion – up nearly $500 billion from the end of t [...]

The widening gap between America's richest and the middle and working classes is unsustainable and is unlikely to improve a survey released on Monday by the Harvard Business School has found. The study which is called “an economy doing half its job” said that while large American companies were showing signs of recovery and were maintaining their competitive edge on the world stage, many mi [...]

Nearly 500 protesters were arrested in three dozen US cities on Thursday as fast-food workers and supporters staged sit-ins and acts of civil disobedience nationwide to call attention to their low wages and lack of union representation. Organizers of the strike said that, all told, actions at fast-food restaurants occurred at about 150 cities nationwide, from Manhattan’s Times Square to Littl [...]

The European Central Bank unexpectedly cut interest rates to 0.05% from 0.15% in a strong response to combat deflation. The move comes as the EU is struggling to boost its stagnating economy, which Draghi. “Growth recovery was losing momentum,” ECB President Mario Draghi said at the news conference after the announcement was made to cut rates further. [...]

Financing the military offensive in eastern Ukraine is now proving to be a major economic headache for Kiev. The cost of rebuilding conflict-torn eastern Ukraine may reach $8 billion, Prime Minister Arseny Yatsenyuk has indicated. As long as the military offensive in the east continues, Ukraine has to further dig into its fast-depleting state coffers to support the operation. If the war continu [...]

One person dies as a result of suicide every 40 seconds, according to a new World Health Organization report released on Thursday, citing economic factors and noting that three times as many men as women kill themselves. “Suicide is an amazing public health problem. There is one suicide every 40 seconds -- it is a huge number,” said Shekhar Saxena, director of WHO's mental health department [...]