OPEC cannot bail world out over financial crisis, says chief...
Unexpected rise in new home sales; Low prices foster flurry of activity...
Russian Central Bank to prevent wild swings in ruble - Shuvalov: "The government and Central Bank consider that sharp changes in the rate of the national currency would be damaging, and this will not be allowed to happen under any circumstances," he said.
Europe on the brink of currency crisis meltdown: The financial crisis spreading like wildfire across the former Soviet bloc threatens to set off a second and more dangerous banking crisis in Western Europe, tipping the whole Continent into a fully-fledged economic slump.
Britain may need 0% interest rate to avoid a depression, leading economist warns: The extraordinary claim from Charles Goodhart, a founding member of the Bank of England's Monetary Policy Committee, came as Gordon Brown signalled that he wants to see further, aggressive cuts in the cost of borrowing.
The Predator State by James Galbraith on Bill Moyer's Journal: Video and transcript: This is the big one. I have been working on financial crises since the New York City rescue in 1975. And this is, by far and away, the biggest threat to the system as a whole that we've seen in my lifetime and I think the biggest threat since the late 1920s.
US public pension funds face big losses: California’s Calpers, the US’s biggest pension fund, last week reported a loss of 20 per cent of its assets, or more than $40bn, between July 1 and October 20 this year.
Banks pull squeeze play on credit cards: Companies cracking down, even on those with good credit, leaving customers to face interest rate leaps, lower credit limits and even canceled cards.
Farm-Credit Squeeze May Cut Crops, Spur Food Crisis: The credit crunch is compounding a profit squeeze for farmers that may curb global harvests and worsen a food crisis for developing countries.
George Monbiot: This Is What Denial Does: . The financial crisis for which we must now pay so heavily prefigures the real collapse, when humanity bumps against its ecological limits.