The mathematical law that shows why wealth flows to the 1%

One of the main issues raised by the Occupy demonstrators is the inequitable distribution of wealth. Their slogan focuses on the extreme difference between the richest and the poorest: "We are the 99%," say the banners and T-shirts, pointing out that 1% of the world's population has somehow clawed its way to disproportionate money and power. Time to do something about this unnatural distribution, no?

Chance of 2012 U.S. recession tops 50 percent: Fed paper

(Reuters) - The European debt crisis is raising the odds of a U.S.recession, with economic contraction more likely than not by early 2012, according to research from the San Francisco Federal Reserve Bank.

New York art auctions see record prices

The stunning $61.7 million sale of a painting by American abstract artist Clyfford Still capped a week of record prices at auctions in New York, despite turmoil in the world's financial markets.

Italy at risk of exiting euro zone: Roubini

MOSCOW (Reuters) - Italy's emergency package of fiscal reforms will probably fail to keep its cost of borrowing on financial markets at affordable rates and the country faces the risk of a debt default and departure from the euro zone if more aggressive action is not taken, economist Nouriel Roubini predicted on Saturday.

Europe's Rescue Funds Get Little Traction

BRUSSELS—Efforts to bolster and accelerate the implementation of the euro zone's rescue funds have hit major roadblocks that will likely delay their launch and further eat away at investor confidence, say people familiar with the matter.

Why EU Growth Forecast Fell

Domestic Demand Isn't Ready To Support EU Growth

The European Commission last week published a remarkably grim outlook for the European economy, as we have already noted. The EU’s executive arm sees GDP growth next year of just 0.6%, down from its forecast just six months ago of 1.9%. The 2011 forecast was cut to 1.6% from 1.8%.

Fresh concern over eurozone debt crisis

Italy's political party leaders were locked in talks Sunday to choose a successor to Silvio Berlusconi as Greece prepared to implement painful austerity measures to unlock fresh bailout funds.

Japan economy rebounds from post-quake slump

Japan's economy rebounded in July-September as efforts to restore supply chains and recover lost output in the wake of the March disasters helped the economy post its first expansion in four quarters.

Europe Heading Towards Bank Nationalization

Greece’s, Portugal’s, Ireland’s, Italy’s and, once its banks properly account for the losses on their property portfolios, Spain’s national debt loads are so onerous that default or selective default grows increasingly certain unless somehow these economies can be jump-started into strong growth.

Euro-Zone Factory Output Falls - WSJ.com

LONDON—Output from euro-zone factories fell in September at its fastest rate in two and a half years, underscoring the threat of recession in the 17-nation currency bloc.

Portugal public workers, soldiers protest against austerity

Portugal public workers, soldiers protest against austerity

Portuguese civil servants and soldiers staged an anti-austerity protest in Lisbon on Saturday, a sign of the rising social tensions in debt-hit Portugal over deep cuts in spending.-

Italy easily raises euro3 billion in bond auction

Italy easily raises euro3 billion in bond auction -

ROME (AP) — Italy easily raised euro3 billion ($4.1 billion) from markets, though at a higher cost, as premier-designate Mario Montibegan talks on forming a new government of experts to guide the country through financial crisis.