Why do investors and business leaders continue to focus on the short-term and ignore the fact that businesses that think long-term end up more competitive and profitable? Behavioural economists believe they have the answer: our brains are hard-wired to think short-term because ev …

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LONDON -- The dollar fell on Tuesday, hit by a media report that Gulf states are planning to stop using the U.S. currency for oil transactions and on prospects of low U.S. interest rates long-term, traders said.

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By Sumeet Desai and Chris Buckley Sumeet Desai And Chris Buckley – Sat Sep 26, 12:43 pm ET

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Peter Schiff, the broker, author and financial pundit from Weston who has already taken in more than $1 million in campaign contributions and hired staff, confirmed on national TV this morning what has been widely expected for weeks: He is running for U.S. Senate.

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We were patient fighting the Soviet Union with small humble arms for ten years, we depleted their economy till they vanished, all grace be to Allah.

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BIHAR, India - As the sun sinks into the horizon over the Kosi River in India's Bihar State, the scene is almost idyllic. Wooden ferries putter across the river as young boys wash buffalo and splash around in the shallows...

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"We will bury you," Soviet Premier Nikita Khrushchev promised Americans fifty years ago. "We will bankrupt you," is what Osama bin Laden threatens us today.

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Reading the business section these days is not for the faint of heart -- or those hoping to drift off to sleep. Instead, you end up like Scrooge, visited by the ghosts of outrages past, present, and future.

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Many of the financial pundits who cheerleaded us into this toxic red debt tide are now calling the bottom. There are, however, hundreds of trillions of dollars of more toxic derivatives remaining in this red tide of debt.

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STONES thrown through a banker's windows in Edinburgh, workers "bossnapping" executives in France, retrospective 90% tax rates proposed in Washington, and now a riot in London as G20 leaders arrived for their summit (see article).

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The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts. As Lehman Brothers Holdings Inc struggled to survive last year, as many as 32.8 million shares in the company were sold and not delivered to buy …

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Let me let you into a little secret that will help you make more sense of the never-ending debate over the global financial crisis, what caused it and what should be done about it.

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The Global "Decession": How We Got Here

As the world goes deeper into what some economists are referring to as a "decession", the International Monetary Fund's global outlook can best be described as bleak:

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In December, the Center for American Progress outlined how G20 countries—the club of 20 large economies—had responded to the global economic meltdown.

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Now that Prime Minister Kevin Rudd has hailed in his "Monthly' essay a new political era of ''social capitalism'' and embarked on another stimulus package it merely remains to find an economic theory to accompany it. Economics has failed manifestly to see the global financial …

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"The global financial crisis could cause poverty to rise in Latin America by as much as 15% this year, a senior UN official has warned."

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In a rare interview, Mr Wen outlined in forceful terms Beijing's approach to dealing with the global financial crisis – frenetic activity at home, cautious engagement abroad.

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By Fiona Shaikh and David Milliken LONDON (Reuters) - Britain went into recession at the end of last year for the first time since 1991, with the economy contracting at its fastest pace in nearly 30 years.

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Perhaps I'm overstating it, but I think this is the abridged version of the Bush Administration's perspective on how we got into the financial mess we find ourselves in. You might ask why I focus on the ideas of the outgoing government.

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The leader of a far-right political party in Greece compared Israel's actions in Gaza to Hitler.

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A daily newspaper in Greece has blamed Jews both for the world financial crisis and the Israeli operation in Gaza, the Jewish Telegraphic Agency reported this week.

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On a recent night at Big Sister, which calls itself the world's biggest Internet brothel, a middle-aged man selected a prostitute by pressing an electronic menu on a flat-screen TV to review the age, hair color, weight and languages spoken by the women on offer.

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In 1933 the Roosevelt administration used the Reconstruction Finance Corporation to recapitalize banks by buying preferred stock—stock that had priority over common stock in terms of its claims on profits.

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Another great interview of El-Erian and his insights into the global economy, President-Elect Obama, last week's $800 billion Fed facility and the government's overall approach to the global financial crisis.

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The U.S. economy is in recession and will contract at a faster pace in the fourth quarter, extending the decline into early 2009 as high unemployment crimps consumer spending, a survey showed.

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