Fear Drives CDS to All-Time Wides, World-Wide

The only thing to fear is fear itself credit default swaps.

Iran Cracks Down On Internet

In many ways, Iran is quite repressive.

China Passes Japan as Biggest U.S. Treasuries Holder

Even with its many economic problems, China is fast becomming top dog.

German Bond Auction Fails

That is unheard of.

Europe, Japan Face $46 Billion Global-Warming Penalty

_For violation the Kyoto Protocol.

Iraq Cabinet Passes US Forces Pact

"150,000 US troops to remain in Iraq for another three years".

However, the rumor is that the Iraqi Parliament might reject the pact.

Bush, Cox and Bernanke Call for Regulation of Credit Default Swaps

Too little too late?

As factories close, Chinese workers suffer

China is slowing down to perhaps 7-8% annual growth.

Olmert Warns of 'End of Israel'

Israel's Prime Minister Ehud Olmert has said failure to negotiate a two-state solution with the Palestinians would spell the end of the State of Israel.

He warned of a "South African-style struggle" which Israel would lose if a Palestinian state was not established.

Gaza Shut to Fuel, Food and Journalists

"Output From The World's Oilfields Is Declining Faster Than Previously Thought, The First Authoritative Public Study Of The Biggest Fields Shows."

The Financial Times article continues:

"The findings suggest the world will struggle to produce enough oil to make up for steep declines in existing fields, such as those in the North Sea, Russia and Alaska, and meet long-term demand. The effort will become even more acute as prices fall and investment decisions are delayed.

The IEA, the oil watchdog . . . says even with investment, the annual rate of output decline is 6.4 per cent.

The decline will not necessarily be felt in the next few years because demand is slowing down, but with the expected slowdown in investment the eventual effect will be magnified, oil executives say."

Sarkozy Pushes for Abandonment of Dollar as World Reserve Currency

Russia and China have been making similar noises.

NKorea to close border with SKorea

"North Korea said on Wednesday it would close its border with South Korea from next month in protest at what it called Seoul's confrontational stance, in a move that could cripple a joint industrial estate."

US, Russia to hold nuclear talks

Will try to agree on a new weapons treaty as START expiration looms.

China Retail Sales Rise 22%, Helping to Counter Slowdown

Some good economic news, for a change.

China to Launch $586 Billion Stimulus Plan

"The stimulus package, of which 100 billion yuan is earmarked for this quarter, will go toward low-rent housing, infrastructure in rural areas, as well as roads, railways and airports, it said.

The government will allow tax deductions for purchases of fixed assets such as machinery to stimulate investment, a move that will reduce companies' costs by an estimated 120 billion yuan.

In addition, grain purchase prices and subsidies for farmers will be raised, as will allowances for low-income urban households. The government also scrapped loan quotas to help boost lending to small businesses."

Bomb attacks kill 8, wound dozens across Iraq

Violence seems to be increasing again in Iraq. Has Muqtada Al Sadr withdrawn his ceasefire?

Respected analyst Eric Fishwick says that China may be heading for a severe economic slowdown

Yup.

Obama spoke by telephone with the leaders of Australia, Britain, Canada, France, Germany, Israel, Japan, Mexico and South Korea about the economy

Shifting focus away from Bush.

China - Instead of Decoupling - is Crashing, Further Hurting World Economy

The U.S. is one of the two engines of global growth. The other is China.

Both are crashing.