In the wake of the economic and financial crisis, it was time for the G20 summit. After the dismal results of the mid-term elections and a little in desperation over the gloomy economic situation, the administration of US President Barack Obama was expecting some positive changes. Read the rest of this entry »

Not good news for the Obama administration and specially not good for the many unemployed US workers . While the American economy created 67,00 jobs in the private sector in August, which was slightly better than expected , it was still not enough to bring down the unemployment rate which in fact went up slightly to 9.6 percent. Read the rest of this entry »

If one looks at it from Europe, the unemployment rate in the US does not look so bad. The problem is that the rate does not tell exactly what is going on. For instance, in May the rate declined to 9.5% from 9.7% but that did not mean that more jobs were available. Read the rest of this entry »

Yesterday the country was celebrating. After all the depressing news of the past months, it was a kind of catharsis that everybody needed. Unfortunately the problems did not disappear and we have to continue facing them. Read the rest of this entry »

George Papandreu, the Greek prime minister, said on television that due to pressure from the markets, which had not responded in a positive way to Greece austerity measures, it was now a pressing necessity to get aid. Read the rest of this entry »

On this coming Thursday, the European Union 27 leaders will gather in Brussels for a summit dedicated to revive the European economy. While the summit was called by the new European president, Herman Van Rompuy, not much action has yet been seen or heard from his office. Read the rest of this entry »

Never mind what the White House officials are spinning about their reaction to the Massachusetts defeat of the Democrats, it is quite evident that they are worried and upset. And that is probably a good thing. It is time that they realize, from the president on, that their fellow citizens are not happy with the state of the country. Read the rest of this entry »