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Currently, the Australian dollar is relatively strong on the world currency markets. However, Australia’s increasing reliance on exports to China concerns some experts. In recent years, Chinese companies have been hoarding metals—especially copper—to use as collateral. With the slumping value of copper, Australian exports to China are predicted to drop...
Saturday, November 5, Oklahoma was hit by the largest earthquake on record in the state—a quake of 5.6 magnitude. While the quake did little damage, it scared many people who are used to tornados, but not earthquakes. The quake was felt as far away as Washington, DC, and South Carolina—1,000 miles away (Reuters, November 6, 2011).
A recent report by the Vatican’s Pontifical Council for Justice and Peace proposes the “establishment of a supranational authority to oversee the global economy” (New York Times, October 24, 2011).
When 27 EU leaders met in Brussels last week to discuss how to save their common currency, the ten non-members of the eurozone (including Britain, Denmark and Poland) were asked to leave the eight-hour meeting that followed a reception!
Throughout its history, the United States government has strictly avoided getting involved in matters dealing with churches and religion. However, in a current Supreme Court case, a woman is suing the Lutheran Church with a disability claim—something previously prohibited due to interpretation of federal law. A U.S. attorney is arguing that the case has “...
In a recent Russian Izvestia article, Prime Minister Vladimir Putin shared his vision for a Eurasian union. Mr. Putin noted this future union would include several former “Eastern Block” nations, and also nations from Asia and the Pacific Rim. His vision calls for “a close integration based on new values and economic and political foundation [that] is a demand...
On Sunday, October 23, a 7.2 earthquake shook Turkey, destroying thousands of buildings, killing more than 500 people, injuring more than 1,600 and leaving as many as 40,000 homeless (Telegraph, October 27, 2011; Washington Post, October 27, 2011).
For the last several years, oil prices have dropped right around the time of the fall Holy Days (fall in the northern hemisphere, that is). This year appears to be the same. Gasoline (petrol) prices have been dropping for the last several weeks now. Monday, oil reached its lowest price since September 2010. It ended trading in New York at $78 per barrel. ...
Last week President Barack Obama “rebuked EU leaders for failing to recapitalize banks and allowing the debt crisis to escalate to the point where it is scaring the world.” Reaction from the German finance minister, Wolfgang Schäuble, was one of scorn, “I don’t understand how anyone in the European Commission can have such a stupid idea [spending one’s way out...
Last Friday the German parliament symbolically voted to continue supporting European debt relief. Internally, the parliament was split, with representatives refusing to further support EU debt by giving up German sovereignty through a fiscal union. A Bavarian representative warned that “…the Free State of Bavaria will not take one step further towards an EMU...