Growing share of income for the rich: Inequality in the U.S. has has grown steadily since the 1970s, following a flat period after World War II. In 2008, the wealthiest 10 percent earned almost the same amount of income as the rest of the country combined. *Based on the salary, bonuses and stock options of […]
By Wonkette Jr.9 June 2011 Texas Governor Rick Perry has declared he can’t solve the state’s problems, so from now on official government policy is “pray, everybody.” Perry is holding a day of fasting and prayer called “The Response” at a sports stadium in Houston on August 6th, which everyone can now consider the “effective […]
Bruce Blythe, Business Editor 13 June 2011 The government’s latest crops outlook brought unwelcome news for Mike Engler, a Texas feedlot operator who’s watched profits evaporate in recent months as corn prices soared to records and the cattle market slumped. There’s no apparent end in sight for tight corn supplies and high feed costs for […]
Your browser does not support iframes. By Julie Schmit, USA TODAY13 June 2011 NORTH LAS VEGAS — Dayna and Scott Merritt ask themselves almost every day if they should keep paying their mortgage. Many other residents on their street, Helens Pouroff Avenue, stopped long ago. Since the 69 new homes on this street were sold […]
By Larry Elliott, economics editor, www.guardian.co.uk 8 June 2011 A fresh surge in oil prices and a rise in the cost of food pose the biggest threats to the recovery of poor countries from the global recession of 2008 and 2009, according to the World Bank. In its latest economic health check, the Washington-based Bank […]
By Colin Barr 8 June 2011 The recovery is over. So says UCLA economist Ed Leamer. He notes that May brought the first year-over-year decline in the Pulse of Commerce Index of domestic diesel fuel use since the end of 2009 – the latest yellow flag to be raised over the sputtering U.S. economy. The […]
By TIMOTHY EGAN2 June 2011 For a few months, still, you can see the sunlit room where the author of “Call of the Wild” wrote his daily thousand words before noon, and walk under redwoods and wild oaks on his 1,400-acre Beauty Ranch, where he pioneered “sustainability” before anyone was pushing $20 plates of arugula […]
By Gus Lubin 25 May 2011 Norway’s Frontline, which operates the world’s largest oil tanker fleet, announced an 81-percent decline in net income for the first quarter compared to last year. The company issued a grim outlook: “It is hard to see a strong recovery in the tanker market as long as the net supply […]
By Robin Emmott, with additional reporting by Tim Gaynor in Phoenix; Editing by Kieran Murray and Claudia Parsons1 Jun 2011 MONTERREY, Mexico (Reuters) – Mario Ramos thought it was a bad joke when he received an anonymous email at the start of this year demanding $15,000 a month to keep his industrial tubing business operating […]
London, May 10, IRNA – An all-party committee of MPs Tuesday expressed concern that only $700 million of a $2 billion appeal has been delivered on the ground to help millions of victims caught up in Pakistan’s worst-ever floods last year. “Two thirds of the funding called for had still not been delivered by the […]
