The financially troubled U.S. Postal Service reported an $8.5 billion loss in the fiscal year that ended in September and said it will run out of money in 2011 if economic conditions don't improve and Congress doesn't act.Read more »
The Peoples Bank of China has announced that it will no longer fix its currency in terms of the dollar. Instead it will manage the yuan against a basket of currencies.Read more »
Want a big federal Government? Have TOO much money? Love taxes? Wish you could pay more? Well now you can via the pay.gov website. The wonderful bureaucrats over at the treasury department are allowing anyone to voluntarily contribute more of their money to help pay for public debt. Now you and all the other blind nationalist sheep can go on bah bah-ing with each other knowing you did all you could to help YOUR government!Read more »
Say goodbye to China's "export economy" paradigm. Perhaps this finally explains where all the excess liquidity has gone: with China now not exporting to the US consumer, it has instead refocused on its own "middle" class.Read more »
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