World-News

By Mike Whitney

The global economy is decelerating at the fastest pace on record. 40 percent of global wealth has been wiped out. The banking system is insolvent, unemployment is soaring, tax revenues are falling, the markets are in shock, housing is crashing, deficits are soaring, and consumer confidence is at its lowest point in history.

http://informationclearinghouse.info/article22007.htm

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Davos Debt and Denial

In an age of illusion, the guise of truth is often heresy

By Darryl Schoon

The fact that in 2008 bankers became victims in the game they created has profound implications for capitalism itself. Capitalism, which began in 1694 with the issuance of debt-based money from The Bank of England, has now over three hundred years later reached its last and final stage.

http://informationclearinghouse.info/article22000.htm



Ireland 'could default on debt'

The cost of buying insurance against Irish government bonds rose to record highs on Friday, having almost tripled in a week. Debt-market investors now rank Ireland as the most troubled economy in Europe.

http://business.timesonline.co.uk/tol/business/economics/article5733723.ece



Failure to save East Europe will lead to worldwide meltdown

The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point.

http://tinyurl.com/aavxj6


From Information Clearing House



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