World credit crisis weakens state power
By WILLIAM S. LINDWASHINGTON, Aug. 28 (UPI) -- Despite the recent drop in the price of oil, the world economy is still sailing into troubled waters. The U.S. credit crisis is intensifying and spreading to Britain. Europe is moving toward recession. The international financial system continues to depend on mountains of debt. If the financial panic that the U.S. Federal Reserve Bank thus far has managed to stave off materializes, we could witness a meltdown of historic proportions.Read the original post here.
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