Breaking News: White House: Obama happy over Republicans debt limit offer - with video ~ link ~
“The president is happy that cooler heads at least seem to be prevailing in the House; that there at least seems to be a recognition that default is not an option," White House spokesman Jay Carney told reporters on Thursday.
Breaking News: GOP (Republicans) and White House (Democrats) to keep talking after Obama meeting ~ link ~ President Barack Obama and House Republicans clashed in a meeting Thursday afternoon over how soon the government can be reopened, even as the GOP offered to lift the debt limit for six weeks, according to sources familiar with the session.
House Republicans told Obama at the White House that they could reopen the federal government by early next week if the president and Senate Democrats agree to their debt-ceiling proposal. A GOP aide said they would seek some additional concessions if they advance a government funding bill next week.
Bekele Geleta, secretary general of the International Federation of Red Cross and Red Crescent Societies (IFRC) presented a report in Geneva on Thursday over the impacts of the economic crisis.
The report also showed that some 120 million Europeans face the risk of poverty and many continue to suffer in countries that are in the process of recovering financially.
“People’s lives have been thrown into turmoil and there seems to be a gradual degradation, with millions existing on a day-to-day basis, with no savings and no buffer to withstand any unforeseen expenses,” said Geleta and added, "Europe is facing its worst humanitarian crisis in six decades."
The Red Cross surveyed 22 of its national organizations in Europe and found that the impacts of the euro-crisis have led to more people coming to the humanitarian organization to ask for treatment, financial assistance to buy medications or help fill in forms for benefits.
According to the report, 3.5 million people in Europe are receiving food aid by the Red Cross, which is 75 percent more than three years ago.
Greece’s statistics service ELSTAT said on Thursday that 1.36 million people were unemployed in July, up ten percent from a year earlier.
The only reason that US QE hasn’t led to a dramatic erosion in the value of the dollar is that every other major economic bloc is up to the same tricks. This makes the rational analysis of international investments virtually impossible.