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Teachers protest against education cuts in Hungary

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Demonstrators gather on the Kossuth Square in front of the Hungarian Parliament building during an anti-government demonstration, called Day of Public Outcry in Budapest, Hungary, November. 17, 2014. Thousands of Hungarian teachers have staged an anti-government protest in the capital Budapest to call for dialogue on education reforms and a halt to funding cuts. Some 2,000 teachers said on Saturday... 

Police pepper sprays protest in Germany as activists storm new EU central bank HQ

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German police used pepper spray and clashed with anti-EU protesters, who stormed and vandalized the new European Central Bank building, which is under construction now in central Frankfurt. Calling themselves Blockupy, thousands of activists gathered in the city center on Saturday and marched to the goal of their protest, the new ECB office, which is to be inaugurated next March. The cost of the new... 

Half of UK councils face financial collapse

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Half the UK’s local councils are at risk of collapse, the government’s official auditor has said, warning that one in six may be unable to provide basic services this year. The warning comes after severe cuts in national government funding. In a report produced by the government’s official auditor, the National Audit Office (NAO) on Wednesday, 52 percent of councils were said to be at risk of... 

Police, anti-austerity protesters clash across Italy

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Demonstrators protest in central Rome, Italy, on November 14, 2014. Several Italian cities, including the capital city of Rome and northern city of Milan, have witnessed confrontations between police forces and anti-austerity protesters. On Friday, trade unions and students staged strikes and rallies in more than 20 cities against labor market and other reforms. Officers were pelted with eggs and red... 

Thousands protest in France against austerity measures

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Tens of thousands of people have taken to the streets across France to express their resentment over the latest austerity budget presented by President François Hollande, which will make it difficult to lead the nation’s flagging economy back to steady growth, Press TV reports. On Thursday, the demonstrators marched in major French cities in protest at Hollande’s 2015 budget blueprint, which... 

Gold predicted falling world growth and inflation

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My exposure to resource stocks is as low as it has been in recent history and still, I’m nervous. Things are happening that shouldn’t be. The last time I said that was last July when I turned bearish and defensive on gold. And here in October I’m sensing the same thing. Let me repeat my thesis: that the world economy is moving toward deflation and recession and the realization of... 

Germany sees major slump in exports since 2009

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A modern autorack in Germany. Germany’s exports have marked their biggest fall since the global financial crisis reached its peak in 2009, raising fears that Europe’s largest economy might slide into recession. Germany’s Federal Statistical Office said Thursday that exports slumped by 5.8 percent for the month of August. Moreover, imports dropped by 1.3 percent in seasonally adjusted terms, the... 

The U.S. Government Is Borrowing About 8 Trillion Dollars A Year

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I know that headline sounds completely outrageous. But it is actually true. The U.S. government is borrowing about 8 trillion dollars a year, and you are about to see the hard numbers that prove this. When discussing the national debt, most people tend to only focus on the amount that it increases each 12 months. And as I wrote about recently, the U.S. national debt has increased by more than a trillion... 

Obama plans to spend $1 trillion on nukes

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Despite campaigning on a platform that endorsed having “a nuclear-free world” in the not so distant future, United States President Barack Obama is overseeing an administration that’s aim has taken another path, the New York Times reported this week. On Sunday, journalists William Broad and David Sanger wrote for the Times that a half-decade of “political deals and geopolitical crises” have... 

Microsoft to cut 18K jobs worldwide

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The US software giant Microsoft has announced plans to slash 18,000 jobs from its global workforce in 2015, the largest cuts in the company’s 39-year history. In a statement on Thursday, the company described the shakeup as part of its strategy to streamline business under new CEO Satya Nadella. Layoffs represent about 14 percent of the company’s workforce and will be completed by next June. Nadella,... 

U.S. National Debt Grows By More Than A Trillion Dollars In The Last 12 Months

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The idea that the Obama administration has the budget deficit under control is a complete and total lie. The idea that the Obama administration has the budget deficit under control is a complete and total lie. According to the U.S. Treasury, the federal government has officially run a deficit of 589 billion dollars for the first 11 months of fiscal year 2014. But this number is just for public consumption... 

US-Russia political tensions will speed up demise of dollar

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An American economist says the political tensions between Washington and Moscow will speed up the demise of the US dollar in international transactions. “The political tensions between the United States and Russia has increased or speeded up the process of which nations are doing business between countries instead of dollars and doing it with their local currencies,” Mark Thornton, Senior Fellow... 

Argentina Congress OKs law restructuring debt payments

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The Argentinean Congress has adopted a new law enabling Buenos Aires to pay back the country’s debts to US creditors, sidestepping an earlier US court ruling in favor of the bondholders. On Thursday, the lower house of Argentina’s Congress unanimously voted in favor of the new debt restructuring plan which allows the government to make debt payments inside the country or elsewhere outside the... 

EU poverty conference held in Brussels

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A conference to discuss the status of poverty in the European Union has been held in the Belgian capital Brussels, Press TV reports. The conference gathered over 700 politicians, academics and rights campaigners to discuss the EU’s ongoing economic crisis focusing on unemployment and social exclusion. EU governments, institutions and structures were criticized during the conference over their failure... 

Australia’s Qantas airline reports $2.6 billion loss

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Australia’s national carrier Qantas has posted an annual net loss of 2.6 billion dollars last year. The airliner on Thursday posted the full-year net loss of 2.64 billion US dollars in 2013-2014 in its worst performance. The figure is much worse than expectations as analysts initially predicted the company to report an underlying pre-tax loss of about 700 million dollars. Qantas’s international... 
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