(AFP) – World Stocks Drop as Greek Debt Default Nears

Financial markets turned on Greece again on Thursday, driving up its borrowing costs to record levels on rising doubt that the EU will provide a debt rescue, and the euro plunged further. Read More Here

(WSWS) – Unemployment in America: No Economic Recovery for the Working Class

Last Friday’s US unemployment report, which showed a net payroll gain of 162,000 jobs in March, has been seized on by the Obama administration and much of the media as confirmation of official claims that the recession is over and a recovery in the jobs market has begun. Read More Here

(AP) – Nearly half of US households escape fed income tax – Read More Here

(Reuters) – Volcker: Taxes likely to rise eventually to tame deficit – Read More Here

(Telegraph) – Sovereign debt crisis at ‘boiling point’, warns Bank for International Settlements

The Bank for International Settlements does not mince words. Sovereign debt is already starting to cross the danger threshold in the United States, Japan, Britain, and most of Western Europe, threatening to set off a bond crisis at the heart of the global economy. Read More Here

(HuffingtonPost) – Unemployment: More Than 3 Million Americans Jobless For Longer Than A Year, An All-Time High (CHARTS)

That represents 23 percent of the roughly 14.8 million Americans out of work and looking for a job — a post-World War II high. For those 3.4 million Americans, the consequences from such a long time out of work — a cost of the Great Recession — can be calamitous. Read More Here

(AFP) – Destitute and desperate, Icelanders opt for exile Read More Here

(Bloomberg) – China on ‘Treadmill to Hell’ Amid Bubble, Chanos Says (Update1)

China’s property market is a bubble that may burst by as early as this year, according to hedge fund manager James Chanos. Read More Here

(CommodityOnline) – How much gold reserves really exist in US vaults? Read More Here

(NTDTV) – Video: Japan Airlines to Cut Third of Workforce

Japan Airlines plans to reduce its workforce by a third within the fiscal year to lower labor costs by over $860 million a year. View Video Here

(C4L) – Stimulus or Stealing From Us?

The American Recovery and Reinvestment Act or “Stimulus Package,” is a bill that was passed by the U.S. Congress and later signed into law by President Obama on February 17, 2009. (Gandel 1) It is a bill that by most estimates will cost at least $787 billion dollars. The legislation was supposed to stimulate our struggling economy and promised to create between 3 and 4 million jobs in a one year period. Also included in this sweeping legislation is money to modernize roads, improve our public school systems, and lower health care costs. (Obey 1) Read More Here

(C4L) – Brace Yourself for Obamacare Taxes

Now that President Obama’s health-insurance overhaul has become law, we can brace ourselves for the new taxes. What new taxes? Aren’t they only on the “rich” and on large companies? Read More Here

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