UNEMPLOYMENT

The rioting that has engulfed London and several other cities should have come as no surprise, given the huge numbers of unemployed and idle British youth.

Now that Uncle Sam has dug itself into a $14 trillion hole, it?s the American taxpayer who should be warning Ben Bernanke and his government cronies about the irrationalities of their exuberant paper printing.

Read Tuesday's full statement from the Fed.

In response to a slowing economy, the U.S. Federal Reserve, despite some internal dissent, announced Tuesday that it plans to keep monetary policy stimulus in place, noting that it will keep short-term interests rates exceptionally low through at least mid-2013. The Fed will also continue to reinvest bond proceeds maturing in its portfolio.

The Dow advanced slightly Tuesday after the Fed pledged to keep its benchmark interest rate at a record low through at least mid-2013.

The FOMC released the following statement on monetary policy on Aug. 9, 2011.

Mexican immigration to the U.S. has been cut more than half since 2006, due to the economic collapse north of the border.

Gang warfare, drug trafficking, high unemployment and teenage pregnancy have blighted Tottenham for many years.

America is on the fritz.

The S&P downgrade is already old news for U.S. markets. All eyes are on the Fed, and concerns about slow growth and the real threat of a new recession.

A 26-year-old man who was shot in a car in Croydon, south of London, during disturbances this week has died, becoming the first fatality of riots sweeping Britain, the BBC reported on Tuesday.

Over 334 people in London and about 100 in Birmingham in the English Midlands had been arrested so far due to the worst rioting and looting ever in UK according to police. Violence also broke out in Bristol and the northwest port of Liverpool.

U.S. markets were poised to open higher Tuesday as futures rose based on anticipated action from the Fed.

Carling Cup matches have already been postponed due to the instability in the country.

The London riot, now in its third day, is going strong as violent rioters go against police and loot the city. Birmingham and Liverpool are reporting riots breaking out as well. Windows have been smashed, polices vans attacked, and cars set on fire in Hackney. Trains have stopped providing service at Hackney Central Station, whie buses are not operating in Lewisham or Peckham.

As the London riots continue to grow, violence and unrest has moved north to Birmingham, England.

Low-wage jobs play an outsize role in powering Texas' economic engine

Retail stores have been the main focus of rioters' ire in London. Many high streets are under attack, as rioters break windows to steal electronics and clothing.

Plunging stock prices in the wake of Standard & Poor's decision to strip the United States' top-tier AAA credit rating may threaten consumer confidence and could push the frail economy into recession.

What began in Tottenham has spread to low-income neighborhoods across the city, as youths and rioters spiral out of control.

Black teenagers bear the worst of it ? their jobless rate is at a staggering 39.2 percent (versus 23 percent for white teenagers).