No central bank ever began a hyper-inflationary policy because it feared inflation. Such disasters always come because of vanished credit and economic depression. And whether in Germany nine decades ago, or in Argentina twenty years back, or in Robert Mugabe's Zimbabwe around the turn of this century, stuff actually gets cheaper - not more expensive - in real terms during hyperinflation.
A Senate wrangle over soaring budget deficits on Tuesday stopped the passage of a crucial extension of unemployed benefits to millions of Americans experiencing the sting of the worst jobs crisis in three decades. The failure of the lame duck Congress to extend benefits will cut off sustenance payments to two million people in December, adding to the woes of home losses, bankruptcies and foreclosures, besides also setting back the economic recovery.
Here's a quick lowdown on the situation.
US secretary of state Hillary Clinton embarked on a four-day visit to Asia on Tuesday amid publication of classified US State Department cables by WikiLeaks that continued to make headlines around the world.
President Obama today froze the pay of all civilian federal employees for the next two years.
A spokesman for the U.S. State Department denied on Monday that his agency's diplomats were spies, after the release of hundreds of thousands of secret and unclassified cables by the Wikileaks organization.
Wikileaks, the website that was responsible for leaking thousands of documents related to U.S. diplomacy, should be classified as a terrorist organization, according to U.S. Representative Peter King, CNet News reported.
As a dossier of 2251,287 U.S. diplomatic cables obtained by Wikileaks tumbles out, bygone issues will be interpreted in a new light as raw details of closed-door diplomatic haggling reveal.
President Obama was injured in a basketball game and received stitches on his lips after he was accidentally elbowed by a fellow player on late on Friday. According to the White House, the president received 12 stitches under anesthesia.
The United States is considering abandoning the 8-year-old color coded terror alert system amid criticism from U.S. lawmakers and public protests, according to media reports.
Within days after she announced her intention to run for the President, Sarah Palin, the former governor of Alaska, is caught up with yet another gaffe. This time, referring to North Korea as an ally of the United States.
Within days after she announced her intention to run for the President, Sarah Palin, the former governor of Alaska is caught up with yet another gaffe. This time, referring to North Korea as an ally of the United States.
First Lady Michelle Obama, in an e-mail message, said she would be handing out turkeys, stuffing, pumpkin pies and all the Thanksgiving fixings with friends and family at Martha's Table, a local non-profit organization on the Thanksgiving Day.
A day after North Korea's artillery attack on the South Korean island, the U.S. decided to send the aircraft carrier George Washington and a number of accompanying ships into the region for joint exercises besides sounding China, the sole ally of Pyongyang, to restrain Pyongyang from further attacks.
The United Stated said Tuesday it was in close and continuing talks with South Korea after a North Korean artillery attack killed two South Korean marines.
North Korea said that it was South Korea which fired first and they had to fire in retaliation. The South Korean enemy, despite our repeated warnings, committed reckless military provocations of firing artillery shells into our maritime territory near Yeonpyeong island beginning 1pm (1500 AEDT), the AFP quoted a statement from the North's military supreme command.
It’s now as plain as the beard on Lincoln’s chin. The Republican Party that Honest Abe helped to found – that is, in its current Limbaughian form -- does not give a hoot about American global security. All it wants to do is remove Barack Obama from the White House, and it does not care if its actions – that is, its inaction – wrecks the painstakingly constructed goodwill between the U.S. and Russia and pushes the entire world back toward the shadow of possible nuclear annihilation.
Sarah Palin, who announced her intent to run for the Presidential bid on Wednesday, seems to be reaching out to the American public in a rather tidy way. Her latest stint on reality TV, coupled with an unfaltering media management, could come along in her pursuit to the White House.
A meeting between President Barack Obama and Congressional representatives originally scheduled to be held on Thursday has been postponed until Nov. 30, the White House said on Wednesday, signaling consensus on the extension of Bush-era tax cuts eluded leaders at the Capitol.
The Obama administration is pushing for closer ties with America Indian tribes, announcing a second presidential conference with the tribes in December.
Not unexpectedly, the preliminary proposal of President’s Obama’s bipartisan Commission on Fiscal Responsibility and Reform has met with mixed reviews, from “unacceptable” to “most encouraging.”
The National Commission on Fiscal Responsibility and Reform, a bipartisan commission recently created by President Obama, unveiled a proposal that could save the U.S. government nearly $4 trillion from 2012 to 2020.
The federal government has committed at least $8-billion (and counting) for the development of a nationwide high-speed intercity passenger railway system in almost three-dozen states. Rail advocates have long dreamed of an extensive railway grid that will provide clean, speedy, energy-efficient travel.
