Europe is on the verge of collapsing and the world is again in the quagmire, the reason being Europe, rather than just Greece, is the planet’s soft belly, and the impact of Europe’s eventual downfall would make itself felt throughout the world, even if Germany, or France, could somehow be spared.

The scale of impact is unpredictable, but potentially worse than that of the recent toxic assets crisis. The European bloc is the second largest economy, the first trade partner of China, the largest importer of Russian energy and the first buyer of high quality raw materials (it still holds the Hilton quota, the world’s most expensive meat quota). – Raul de Sagastizabal, “Europe Is On The Verge Of Collapsing”

When the big banks screamed “crisis,” they were instantly rewarded with trillions of taxpayer money. Likewise, when rich bondholders — some of them bailout beneficiaries — yelled “crisis” at the U.S. debt, they were immediately rewarded with trillions of dollars taken from social programs for the poor. The jobs crisis, however, staggers on with no relief in sight. The recent troubles in the U.S. economy are forcing working people to reexamine their hopes for a recovery, as has been promised to them for years. They will not wait much longer. Shamus Cooke, “Mass Unemployment in America: The Jobs Crisis Demands Attention”

Global Research presents to our readers the latest news on economic issues in Europe and America:

DOW FALLS 635 POINTS: Worst Plunge Since 2008, Sixth Biggest Stock Market Crash Ever

– by Washington’s Blog – 2011-08-08

America’s Economic Chaos: Don’t Panic, Get Informed!
Know where to turn for the truth
– by Global Research – 2011-08-08

BREAKING NEWS: Fannie and Freddie Downgraded, France Will Be Downgraded, Munis Getting Hammered … States Will Be Next
– by Washington’s Blog – 2011-08-08

Rich get more in Tax Breaks than the Poor get from Welfare
– by Sherwood Ross – 2011-08-08

“Europe Is On The Verge Of Collapsing”
– by Raul de Sagastizabal – 2011-08-08

Credit Downgrade May Hammer Munis and Stocks Instead of Treasuries

– by Washington’s Blog – 2011-08-08

Mass Unemployment in America: The Jobs Crisis Demands Attention

– by Shamus Cooke – 2011-08-07

The Credit Crisis Rages On; What caused Stock Markets to Plunge?

– by Mike Whitney – 2011-08-07

The Market Has Spoken: Austerity Is Bad for Business

– by Ellen Brown – 2011-08-06

Military Superpower and “Money Printer In Chief “: America Loses AAA Credit Rating….
– by Washington’s Blog – 2011-08-06

Quantitative Easing (QE) and the Debasement of the US Dollar
– by Bob Chapman – 2011-08-06

Spain’s ‘Indignados’: Vanguard of a Global Nonviolent Revolt against Neoliberalism
– by Pablo Ouziel – 2011-08-06

Barack Obama: The Bizarro FDR
– by David Sirota – 2011-08-05

The “Afghanistan Factor” and The Debt Ceiling Crisis
– by Prof. Alexei Pilko – 2011-08-04

The Debt Crisis and the War Economy: Pentagon Purchases $23 Billion Worth Of Global Hawk Drones
– 2011-08-04

Public Sector Austerity and the Economic Recession in Canada
– by Andrew Jackson – 2011-08-04

The Debt Ceiling Debate that Didn’t Happen
– by Prof. Michael Hudson – 2011-08-04

Neoliberalism’s Newest Product: The Modern Slave Trade

– by Ignacio Ramonet – 2011-08-03

Barack Obama: The Change that Did Not Happen…. The Plight of Neoliberal Economic Policy

– by Eric Toussaint, Daniel Munevar – 2011-08-03

Trillion-dollar- business: US war spending spirals out of control
– by Spencer Kimball – 2011-08-03

Poverty and Income inequality: The Devastating Social Conditions of American Children
– by Nikolai Barrickman, Kate Randall – 2011-08-03

America’s Fiscal Collapse.

The Pre-conditions for the Debt Crisis….
– by Michel Chossudovsky – 2011-08-03

Global Economic Depression. The “Solution” to The Debt Crisis: More Debt

– by Bob Chapman – 2011-08-03