Economy

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 […]

Obama signs sequester bill

Obama signs sequester bill

Austerity has hit the United States as President Barack Obama signed into law a directive ushering in significant cuts to federal agencies’ budgets and triggering the sequester that has been debated in Washington during the last several weeks. In the White House on Friday, President Obama inked his name to the order, and with it […]

US banks shaken by biggest fund withdrawals since 9/11

US banks shaken by biggest fund withdrawals since 9/11

US Federal Reserve is reporting a major deposit withdrawal from the nation’s bank accounts. The financial system has not seen such a massive fund outflow since 9/11 attacks. The first week of January 2013 has seen $114 billion withdrawn from 25 of the US’ biggest banks, pushing deposits down to $5.37 trillion, according to the […]

World’s 100 richest earned enough in 2012 to end global poverty 4 times over

World’s 100 richest earned enough in 2012 to end global poverty 4 times over

The report proposes a new global deal to world leaders to curb extreme poverty to 1990s levels by:
– closing tax havens, yielding $189bn in additional tax revenues
– reversing regressive forms of taxation
– introducing a global minimum corporation tax rate
– boosting wages proportional to capital returns
– increasing investment in free public services

Luring Locavores: Research Shows Female and Older Consumers Highly Motivated to Buy Local

Luring Locavores: Research Shows Female and Older Consumers Highly Motivated to Buy Local

Newswise — MANHATTAN, Kan. — A study by a Kansas State University researcher could help farmers better serve a niche market. Sarah Bernard, who recently earned her master’s degree in agribusiness, studied consumers’ motivations behind buying local beef. She found that farmers should be marketing more to female and older consumers because they are more […]