The Endgame For The Eurozone Has Begun: Nouriel Roubini

Germany and the ECB have less power over the eurozone's peripheral countries than they seem to believe. If they continue to insist on concentrating all the pain of economic adjustment in the periphery, the monetary union’s slow-developing train wreck will accelerate as peripheral countries default and revert to national currencies.

Krugman Underestimates Economic Effects Of Increased Inequality

We've been studying the work of Paul Krugman a bit lately, as he provides a nice focal point for debate on the current economic situation, he's controversial, and his blog provides a near real-time view of the man at work.

Turmoil Spreads in Europe

Europe's debt troubles on Tuesday spilled over to top-rated nations that had been largely untouched by the crisis—including Austria, the Netherlands, Finland and France—in an ominous sign for European policy makers.

EU bans sovereign debt speculation

Eurobond Proposal May be Europe's Saving Grace

STRASBOURG, France—The European Union remains focused on finding a way to expand its bailout fund, but Economics Commissioner Olli Rehn said a new proposal from German economists to counter the euro-zone debt crisis deserves attention.

Recession Fears Haunt Euro Zone

FRANKFURT—The euro-zone economy barely grew in the third quarter despite a temporary bounce in Germany and France, raising fears that the euro bloc may already be sliding into recession as businesses and consumers cut back on spending in response to Europe's escalating debt crisis.

This Is The Reason Bond Yields Are Exploding Across Europe

Bond yields are spiking across Europe, not to mention the spreads between Belgian, French, Spanish, and Italian bonds and German 10-year bunds
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5 Big Risks To The Global Economy

Despite the persistent Euro debt crisis coverage, there are other risks that we must bear in mind heading into 2012.

Paul Krugman: The World's Two Most Impressive Economies Have One Thing In Common

In a debate going on tonight in Canada between David Rosenberg, Paul Krugman, Larry Summers, and Ian Bremmer, the attendees were asked what they would do for the Canadian economy.

One Really Bullish Piece Of News From Europe

In Germany, the ZEW economic sentiment survey came in disastrous, which sounds bad except that, as this chart from Reuter's Scotty Barber nicely shows, these extreme levels of negativity are associated with market bottoms
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ECB Intervenes: Briefly Brings Italian Yields Under 7%... And Sends French Yields To Fresh Record Highs

ECB is back to playing Whack-a-mole. Just as BTPs seemed poised to collapse to new all time records, and yields reenter the stratosphere, the ECB stepped in aggressively bringing the yield to just under 7%, at 6.996% last, however briefly. The problem, as pointed out previously, is that now the vigilantes will simply focus on those bonds where the ECB can not spoil the party. Such as France. French OATs just hit a fresh all record yield, and low price as technocratic NWO is scrambling to find a third Mario, who just so happens to be is a Goldman and Fed alum, to take over Sarko and head France.

Give Some Credit to Credit-Default Swaps

The birth of the credit-default swap has been well-chronicled. In recent days, though, we may have witnessed the beginning of the end for that controversial insurance policy against financial disasters

Germany, France post solid growth, outlook bleaker

BERLIN/PARIS (Reuters) - Germany and France posted solid growth in the third quarter but those euro zone countries at the sharp end of the debt crisis are faring much worse and analysts expect bleaker times to come across the currency bloc.

UK inflation falls to 5 percent in October

LONDON (AP) — Inflation in Britain fell to 5.0 percent in October from the previous month's 5.2 percent, official figures showed Tuesday, in a sign that it may have peaked.

Jobless in America: OMB Director Jack Lew Makes the Case for Obama’s Jobs Plan

At the Republican presidential economic debate last Wednesday there was a lot of talk about the impact of taxes and regulation on the U.S. economy, but there was very little discussion — or rather specifics -- about the issue that matters most to Americans: Jobs.

Major world economies 'on course for slowdown'

None of the world's major economies will escape a slowdown, the Organisation for Economic Co-operation and Development has warned.

European Union in peril without reform, warns David Cameron

The Prime Minister insisted that leaving the EU was “not in our national interest” but said he felt “very personally” that now was the time for a fundamental reconsideration of European relations.

China vulnerable to asset bubbles, warns IMF

BEIJING, Nov 15 (Reuters) - The IMF warned China on Tuesday it is vulnerable to asset bubbles that could damage the economy and commercial banks could see a systemic failure if hit by a combination of credit, property, currency and yield curve shocks...MORE

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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.