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USDA says drought will push up food prices in 2013
USDA says drought will push up food prices in 2013

MINNEAPOLIS (AP) -- The drought gripping more than half the country is a major reason why consumers can expect to pay 3 percent to 4 percent more for groceries next year, the U.S. Department of Agricu

Can China Escape the Low-Wage Trap?
Can China Escape the Low-Wage Trap?

THE news out of China this year has been relentlessly bad. The political system was embarrassed in front of its own people by the Bo Xilai scandal and in front of the world by the Chen Guangcheng inci

20% 'Fat Tax' Needed to Fight Obesity
20% 'Fat Tax' Needed to Fight Obesity

It's a proposition some might find hard to swallow: a 20-percent tax on unhealthy food to improve the health of the nation.Yet such a tax — spread across the food chain from manufacturer to con

Who Really Caused The Deficit?
Who Really Caused The Deficit?

This week Republicans will attempt to move the national political conversation back to a familiar theme with a series of attacks on President Obama over the national debt. The GOP released a web video

Why Half the World Doesn't Have Bank Accounts
Why Half the World Doesn't Have Bank Accounts

In the U.S., bank accounts are nearly ubiquitous, with almost 90 percent of adults having formal accounts. But in poor countries, only a quarter of people report having have accounts. All told, more t

The Smell of Money
The Smell of Money

The Payment Council predicts that by 2050 cash may be disappearing.Could we become a cashless society or are we too attached to the money in our pockets?Materials scientist, and Royal Institution Chri

US confirms economy grew 3.0% in Q4
US confirms economy grew 3.0% in Q4

The US economy grew at an annual rate of 3.0 percent in the fourth quarter of 2011, the Commerce Department said in its final estimate Thursday.The department's third estimate for gross domestic produ

Internet accounts for 4.7% of U.S. economy
Internet accounts for 4.7% of U.S. economy

The Internet contributes more to the American economy than the entire federal government, according to a new study by the Boston Consulting Group.The Internet accounted for $684 billion, or 4.7% of al

Economy: Why Are Some Countries Rich And Others Poor?
Economy: Why Are Some Countries Rich And Others Poor?

Why are some nations rich and others poor? In a new book called Why Nations Fail, a pair of economists argue that a lot comes down to politics.To research the book, the authors scoured the world for p

Gas Prices Rising, But Not For The Reasons You May Think
Gas Prices Rising, But Not For The Reasons You May Think

Over the past week or so, we've seen the average price of gasoline hit $3.60 per gallon of regular, with some areas of the country -- like California -- reaching a heady $4 a gallon.But while the Syri

World Bank to China: Free up your economy or bust
World Bank to China: Free up your economy or bust

The World Bank and a Chinese think tank have a stern warning for China's government: transition to a freer market system, or else face an economic crisis.The "China 2030" report, released by the Worl

9 smart moves in a tough economy
9 smart moves in a tough economy

You don't have to be an economist to see that it's been harder to make and keep a dollar these days. But you can set the stage for a financial comeback. Nine of our readers share smart money moves t

Euro economy shrinks, is recession next?
Euro economy shrinks, is recession next?

The leaders of Estonia, Denmark, Germany and the Netherlands met this week in Berlin for an informal meeting on the eurozone debt crisis. Official data released Wednesday showed the region?s economy t

What the 2.4-Cent Penny Says About America's Budget Problem
What the 2.4-Cent Penny Says About America's Budget Problem

It turns out that the humble penny is a pricey coin. Specifically, each new penny coined by the government costs 2.4 cents.My point here is not to remind you that pennies are anachronisms that ought t

Income Inequality: The government had better ideas for fixing Economic Inequality 100 years ago
Income Inequality: The government had better ideas for fixing Economic Inequality 100 years ago

If only Americans today were as open-minded about leveling the playing field as we were 100 years ago.A century ago, in one of his last acts of office, President William Howard Taft attempted to solve

China’s pollution puts a dent in its economy
China’s pollution puts a dent in its economy

Despite improvements in air quality, the economic impact of air pollution has increased dramatically, new MIT study shows.Although China has made substantial progress in cleaning up its air pollution,

Kodak Files for Bankruptcy Protection
Kodak Files for Bankruptcy Protection

Eastman Kodak Co. (EK), the photography pioneer that introduced its $1 Brownie Camera more than a century ago, filed for bankruptcy court protection from creditors after consumers worldwide transition

Chinese sovereign debt bonds that tie:Japan wants to buy Chinese government bonds
Chinese sovereign debt bonds that tie:Japan wants to buy Chinese government bonds

IN THE autumn of 2010, when he was Japan's finance minister, Yoshihiko Noda decried it as “strange” that China had bought up as much as ¥2.3 trillion (then $25.5 billion) in Japanese government

Obama: Economy May Be a Job for More than One President
Obama: Economy May Be a Job for More than One President

Problems with the economy have been building for decades, President Barack Obama told CBS program "60 Minutes" in an interview set to air Sunday, Dec. 11."I've always believed that this was a long-te

Is This the Last Chance to Save the Euro?
Is This the Last Chance to Save the Euro?

The routine has been drearily repetitive since the euro debt crisis erupted two years ago: itchy markets jostle the euro; eurozone officials promise to sort out kinks in the system; European Union lea

America's Declining Birthrate Could Be Good For The Economy
America's Declining Birthrate Could Be Good For The Economy

In another sign of the recession's deep impact, the federal government released a report last week showing that the national birth rate declined for the third year in a row.

More than 100,000 fewer

The dollar bill: R.I.P.?
The dollar bill: R.I.P.?

The deficit-cutting super committee may try to scrap the greenback, in the hopes that Americans will finally embrace the little-loved dollar coinAmericans have pointedly rejected $1 coins for decades,

Paying for Obama's jobs bill: Tax hikes for the rich?
Paying for Obama's jobs bill: Tax hikes for the rich?

The president wants to fund his $447 billion jobs bill by scrapping tax breaks for hedge fund managers — and families making north of $250,000 a yearOn Monday, Obama budget director Jack Lew e

The GOP Wants To Raise Your Taxes By 25%
The GOP Wants To Raise Your Taxes By 25%

If you had any doubt about who the Republicans stand with and who they do not stand with, this quote from a Republican lawmaker says it all,“It's always a net positive to let taxpayers k

Republicans To Oppose Tax Cut For Working People
Republicans To Oppose Tax Cut For Working People

Tax cuts have become the panacea of conservative economic thinking, but curiously, the AP reports Republicans are now lining up to raise taxes on nearly half of all Americans. In his radio address t

Who has most debt? Answer may surprise you
Who has most debt? Answer may surprise you

Japan takes No. 1 spot, U.S. ranks among top 10 advanced countries

We here in the United States have spent a lot of time lately fretting about our national debt. But while we owe plenty of money, w

How Much Is Obama Really to Blame for the Economy?
How Much Is Obama Really to Blame for the Economy?

President Obama was eager to meet real, suffering Americans in the troubled Midwest, and when he got there he promised "to do everything" he could to address the economic crisis that he had "inherit

How Sex Panic Almost Destroyed the Economy
How Sex Panic Almost Destroyed the Economy

It's sex panic that helped create the modern right-wing populist, and it's the modern right-wing populist that created the current crisis.Sunday night, right before the fatal deadline, the U.S. Co

China Fears U.S. Debt Default, But Has Few Options
China Fears U.S. Debt Default, But Has Few Options

As the U.S. teeters closer to the brink of debt default, the political stalemate is being watched closely by its biggest foreign creditor, China. At last count, Beijing owned almost $1.2 trillion of

Riding Your Bike Is Good for the Economy
Riding Your Bike Is Good for the Economy

Today in win-win situations: Not only has the bicycle industry recovered from the recession—bikes sales were up 15 percent in 2010 from the previous year—but it creates new jobs as well!

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