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No fridge is better than no house | Jennifer Abel

That a woman was made homeless for not having enough electricity reveals America’s modern-day sumptuary laws If you see a woman drowning the decent thing to do is toss her a life buoy, or at least leave her the hell alone; sitting on her head to push her deeper under water is wholly unacceptable behaviour. Unless [...]

Inside Alan Greenspan’s nightmare | Mark Weisbrot

News that wages are rising in China is greeted with dread by those who share Greenspan’s unwarranted fear of rising inflation Alan Greenspan had a dream, or rather a nightmare. Greenspan seems to have woken up in a cold sweat one morning in fear that the period of “disinflationary pressures” that had kept inflation low since [...]

US federal deficit: who owns America’s debt?

Find out which countries are propping up the US economy China has defended its investment in US Treasury bonds, amid concern that its position as the biggest investor in US debt may become political as well as economic. Treasury bonds are how the US – and all governments for that matter – borrow money: they issue government [...]

China to do something. Or not | Richard Adams

It’s simple: China is soon going to revalue its currency against the US dollar. Or it isn’t. It just depends who you ask Both these articles were published on Saturday. Which is right? Take your pick: New York Times, 6 March 2010China’s central bank governor indicated Saturday that the government was unlikely to detach the value of [...]

US property market shows signs of life

Buyers are being tempted by a glut of bank-owned foreclosed property available at dirt cheap prices, a monthly index shows Despite unremitting gloom in America’s worst hit corners, the nationwide US property market is showing fragile, flickering signs of life as buyers are tempted by a glut of bank-owned foreclosed property available at dirt cheap prices. A [...]

Hard times for British expats in the Florida sun

Florida’s once-booming housing market is at the heart of America’s financial crisis. In 2006, an average family home was $248,000; by 2009, that had fallen to $142,000 A short hop from Disneyworld in the heart of Florida, there’s a little slice of Britain on offer at Harry Ramsbottom’s pub. Cornish pasties, beans on toast or the [...]

Reform takes on a national agenda | John Springford

With global co-operation fading away, there are disturbing gaps in the approach to financial reform in Europe and the US Consensus on financial reform seems further away than ever. In January, Barack Obama finally got on board with the “Volcker rule” to get tough with US banks, after months of dithering. The rule, long advocated by [...]

In pursuit of flexible working

Women now make up half the US workforce, yet dated attitudes to family-friendly working hold many back. Mary O’Hara meets leading campaigners looking to the UK for inspiration Toward the end of 2009 when it was announced that for the first time, women constituted half of the US workforce, a report by liberal thinktank the Center [...]

California’s education charade | Sasha Abramsky

Anti-tax revolts have led to a huge gap between well-resourced schools for the wealthy and starved-for-cash schools for the poor Over the next two weeks, more than 5,000 Los Angeles school employees – teachers and other personnel – will receive lay-off notices informing them that they might not have jobs come the start of the next [...]

US to charge tourists for entering country

Barack Obama passes a new law to encourage foreign tourists to visit – by charging them for the privilege The US yesterday passed a new law designed to boost dwindling numbers of foreign tourists – it will start charging them for the privilege of entering the country. The bizarre move has prompted controversy on both sides of [...]