Europe Is Still Broken: Evidence & Commentary

Over the past few months, the perception has been that the risk of a meltdown in Europe (characterized by the loss of market access for Spain and Italy) has grown increasingly remote. The relative calm…

Japan Talk of Warning Shots Heats up China Dispute

Japan says it may fire warning shots and take other measures to keep foreign aircraft from violating its airspace in the latest verbal blast between Tokyo and Beijing that raises concerns that a dispute over…

Hundred Richest People in 2012 Earned Enough to END World Poverty 4 TIMES

The world’s 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide four times over, Oxfam has revealed, adding that the global economic crisis is further enriching the super-rich. “The richest 1 percent has increased its income by 60 percent in the last 20 years with the financial crisis accelerating rather than slowing the process,” while the income of the top 0.01 percent has seen even greater growth, a new Oxfam report said. For example, the luxury goods market has seen double-digit growth every year since the crisis hit, the report stated. And while the world’s 100 richest people earned $240 billion last year, people in ”extreme poverty” lived on less than $1.25 a day.