A growing telephone hacking scandal in London surrounding Rupert Murdoch’s multinational media empire News International has prompted a number of arrests and resignations, and has been the subject of severe controversy in recent news. The latest developments occurred this weekend, when Les Hilton, chief executive of Dow Jones and Rupert Murdoch’s “right-hand man,” resigned from News Corporation; London Metropolitan Police Commissioner Paul Stephenson stepped down after criticism for his handling of the scandal; and former News of the World editor Rebekah Brooks — who was virtually head of Murdoch’s British newspapers — was arrested.
The people of Great Britain have had enough of the European Union and its growing financial difficulties. In fact, according to a recent poll, if they had a choice in the matter, the British would leave the EU as soon as possible.
Europe’s crisis took a dramatic turn for the worse with the sudden awareness, reflected by a steep increase in government bond yields, that the Italian economy may soon be on the financial chopping block alongside those of Greece, Portugal, and Ireland.
Twenty months have passed since the citizens of Switzerland voted to amend their constitution and ban the future construction of Muslim minarets, but only in recent days has it become clear that the will of the Swiss people may be allowed to stand.
The notion that government can keep robbing Peter to pay Paul indefinitely was always unrealistic. The creation of “entitlements” did not happen in America under FDR, as many people think. Bismarck, the Iron Chancellor of militaristic Imperial Germany introduced old age pensions, workers compensation, and related state programs in an effort to placate German socialists, which were a major power in German politics.
There is a theme to news stories about the PIGS (Portugal, Ireland, Greece, and Spain) in the last few years: Rosy projections always turn out worse than expected. So it's of little surprise that Reuters announced on July 11 that the recession in Greece is worse than the “experts” had predicted.
Europe’s slow-motion economic collapse continues apace as Eurozone governments and banks continue to wring their hands over what to do to postpone the inevitable Greek default. And now there’s a new wrinkle: Italy, whose level of sovereign indebtedness relative to GDP is second only to that of Greece, has suddenly appeared on investors’ radar screens. If Italy — the second largest economy in the Eurozone — goes the way of Greece, Ireland, and Portugal, there will not be enough money in Europe’s rapidly-dwindling rescue fund (the European Financial Stability Facility or EFSF) to effect a bailout.
Pills found on board a 2nd century B.C. shipwreck were packed with crushed carrots, parsley, onions, alfalfa, and other vegetable matter, conforming to the recipes contained in ancient medical treatises.
Americans know the term "stagflation"; the decline in economic activity accompanied by an artificially inflated money supply is what Europe is presently experiencing. On Thursday, European Central Bank President Jean-Claude Trichet announced that the ECB had raised its interest rates 1.5 points and suggested that this action, intended to contract the money supply, might be pursued more aggressively in the future — even though the so-called "PIGS" nations of Europe (Portugal, Ireland, Greece, and Spain) need influxes of money in order to prevent default.
The British government has given the nod for abortionists to hawk their services on the “telly.” As reported by the London Telegraph, “Private clinics which carry out abortions will be allowed to advertise on television and radio for the first time, under new rules.” The Telegraph reported that with recently approved recommendations, “drawn up by the Broadcast Committee of Advertising Practice, which regulates TV and radio commercials, dozens of independent hospitals carrying out abortions will be able to advertise their services to consumers.”