Markets

Federal Reserve HeadquartersFollowing a roller coaster day on Wall Street that saw the Dow close under 10,000 for the first time in years, the Federal Reserve has announced that it will invoke emergency powers under which it will buy billions in commercial paper — short-term debt instruments — in order to provide credit to companies other than those in the financial sector that have been stung by the collapse of the credit market.

foodThe recent precipitous climb in global food prices is nothing less than “mass murder,” according to UN food envoy Jean Ziegler. In a recent interview with an Austrian newspaper, Ziegler, commenting on the climb in commodities prices that have triggered food riots in Haiti and growing lines from Latin America to Africa to Asia of hungry people seeking UN food handouts, suggested that the food shortages are a consequence of globalization.

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