Crisis

US B-52s imitate nuclear bombing of North Korea

US B-52s imitate nuclear bombing of North Korea

In a bid to intimidate North Korea and draw attention to the US military’s capabilities, American B-52 bombers – which are capable of carrying out nuclear strikes – are practicing over South Korea. The move is in response to rising tensions after North Korea conducted its third successful nuclear test last month. This month’s first […]

Stop, thief! Run on ATMs in Cyprus as govt mulls savings tax

Stop, thief! Run on ATMs in Cyprus as govt mulls savings tax

Panic withdrawals hit Cyprus after officials announced bailout terms viewed as ‘robbery’ by the public, as the UK is reportedly ready to protect British depositors’ savings. The adage ‘the best way to rob a bank is to own a bank’ has perhaps never before held more truth than now. On Saturday, Cypriot deposit-holders got a […]

Michigan takes over bankrupt Detroit

Michigan takes over bankrupt Detroit

The state of Michigan is taking over America’s poorest city and managing its finances. After years of decline, Detroit has reached a point that has finally prompted Gov. Rick Snyder to order an emergency state takeover of the bankrupt city. “There’s probably no city that’s more financially challenged in the entire United States,” Snyder said earlier […]

Obama: ‘There is no debt crisis’

Obama: ‘There is no debt crisis’

The United States is roughly $17 trillion in debt, but President Barack Obama says there’s no reason to worry. Speaking with ABC News correspondent George Stephanopoulos this week, Pres. Obama downplayed concerns of an impending financial catastrophe, claiming quite to the contrary that the country is on track to turning the economy around. “We don’t […]

Three-quarters of Americans distrust the government

Three-quarters of Americans distrust the government

A new poll shows that 73 percent of Americans distrust the decisions made by the federal government – a number that has been steadily increasing throughout the last two administrations. At its highest point, which occurred during President Obama’s first term, 80 percent of Americans lacked faith in the federal government. While former President George […]

Sequestration Cuts Medicare Reimbursement Beginning April 1

Sequestration Cuts Medicare Reimbursement Beginning April 1

Newswise — The federal budget sequester went into effect March 1 after a lack of Congressional action to avoid the automatic spending cuts. Effective April 1, Medicare payments to hospitals, doctors, and other health care providers will be reduced by 2%. In the weeks leading up to the March 1 deadline, the Senate twice voted […]

American doctors warn of new killer virus

American doctors warn of new killer virus

Traveling to the Middle East? US health officials are warning Americans to be on the lookout for a new coronavirus, an acute respiratory infection similar to SARS that has so far infected 14 people and killed eight. Most of the deadly infections have occurred in the Middle East, but it only takes one infected American […]

High cost of cheap energy: Fukushima tragedy 2 years on

High cost of cheap energy: Fukushima tragedy 2 years on

Two years after the Fukushima disaster, much of the clean-up effort is still ‘theoretical’, survivors go to court for compensation and thousands march against nuclear power, while the government gives up on the phase-out promise. Experts estimate closing the damaged Fukushima reactors down will cost around US$15 billion and will take about 30 to 40 […]

Shocker: Eighty percent of NYC graduates unable to read

Shocker: Eighty percent of NYC graduates unable to read

New York City’s literacy rates are on the decline: nearly 80 percent of high school graduates lack basic skills like reading, writing and math and are required to relearn them before qualifying for community college. During his most recent State of the City address, New York City Mayor Michael Bloomberg hyped about the large investment […]

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