Like it or not, oil-based energy will continue to play an important role in modern civilization as the 21st century continues.
Most troubling is the fact that one of the banks affected, the Industrial and Commercial Bank of China, is one of the country’s most prosperous and wide-reaching.
With panic swirling in global markets about China’s alleged liquidity problems, it’s easy to forget about the other looming challenge on the other side of the planet: Europe.
For the past week, it seems as if the world’s so-called economic engine – China – has shown signs of sputtering.
The mainstream financial media is currently bemoaning this week’s Federal Reserve press conference, suggesting that the central bank head should have been more cautious in his hinting of the so-called “taper,” which references the eventual withdrawal of monetary support programs.
The next few days will be very telling for the Fed and its quantitative easing program.
It’s no secret that national economies across the globe have had a particularly trying decade, as Recession that rocked the United States and continued uncertainty in the Eurozone have left millions of people in worse financial situations than they had been, even before the most recent administration.
It’s yet another example of poor governance, especially during a time when much-needed economic reforms are going unheeded.
The U.S. global surveillance leaks exposed by ex-NSA contractor Edward Snowden continue to accumulate, according to the latest release from The Guardian, a U.K.-based news publication.