Arianna joined ABC “World News” host Diane Sawyer in an interview airing Tuesday night to discuss the ongoing struggles of the middle class, which is under assault in a variety of ways detailed in Arianna’s new book, Third World America.
“We need to help people in the middle class who are losing their homes,” Arianna said. “The truth is that democracy is not a spectator sport.”
Arianna rejected the notion that the solution would come from the political class, calling instead on ordinary citizens to help save their communities, like some of the people profiled in Third World America.
“When people take action, it’s the greatest antidote to despair,” she said. “It’s always been about people in their own communities taking matters into their own hands, and both changing things and demanding change from our elected leaders.”
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BRUSSELS (AP) — A bold $1 trillion rescue by the European Union halted the slide of the euro on Monday and sent markets soaring worldwide in a gambit that may ultimately be seen as the moment Europe truly became a union.
The sweeping cash injection was greeted with euphoria on Wall Street, where stocks rocketed to their biggest gain in more than a year.
Still, the package did not resolve the basic dysfunction at the heart of Europe’s monetary union: Governments can still spend recklessly and saddle their partners with the bill.
Stocks plummeted in a flashback to the panicked trading of 2008. Selling accelerated late in the day due to a wave of automated sell orders that turned an ugly drop into full-blown market washout.
At its afternoon low the Dow Jones Industrial Average was down almost 1,000 points, hurt by sharp drops in Procter & Gamble, 3M and other companies that traders said were subject to heavy selling by so-called black boxes, or automated trading systems.
China’s central bank chief laid the groundwork for an appreciation of the renminbi at the weekend when he described the current dollar peg as temporary, striking a more emollient tone after months of tough opposition in Beijing to a shift in exchange rate policy.
Zhou Xiaochuan, governor of the People’s Bank of China, gave the strongest hint yet from a senior official that China would abandon the unofficial dollar peg, in place since mid-2008. He said it was a “special” policy to weather the financial crisis.
March 8 (Bloomberg) — Bloomberg’s Stephen Engle reports on People’s Bank of China monetary policy. Central bank governor Zhou Xiaochuan says the nation should be careful in exiting anti-crisis policies, suggesting that the government may not let the yuan appreciate soon against the dollar. (Source: Bloomberg)
Based on a theory known as Keynesianism, politicians are resuscitating the notion that more government spending can stimulate an economy. This mini-documentary produced by the Center for Freedom and Prosperity Foundation examines both theory and evidence and finds that allowing politicians to spend more money is not a recipe for better economic performance.
In this video the speaker mentions that hopefully the politicians will see that this type of stimulus is not a good idea and stop this. I am not so hopeful and trusting of politicians changing their stripes. Perhaps if their own bank accounts, salaries and retirement plans were reduced like the rest of us who deal with the results of poor economy then this will be the only thing that will cause them to face a new problem and do something about it… lets make our problem their problem. Hit them where it hurts, in their wallets and if they are sitting wait for them to get up so you can kick them their too.
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The campaign to ‘Save Dave’ Kiely is over. Mission accomplished.
The Macquarie client investment manager was sent home from work last week, after being seen live on TV opening semi-nude pics of Australian supermodel Miranda Kerr.
But our campaign to make sure Dave retained his job was ultimately successful, as Macquarie has now confirmed Dave won’t be fired over the incident.
And the good news about this ‘scandal’ is that everyone appears to have come out winners. Let’s look at the final tally sheet:
David Kiely got to keep his job
Macquarie Bank got loads of free publicity, and came out as ‘good guys’ in the end
Hits to model Miranda Kerr’s website apparently increased over 100-fold last week
GQ magazine’s pictures were seen all around the world
Here Is The City’s readership hit new highs
And the banking community showed that its members are human after all by rallying around to help save one of its own.
A big ‘thank you’ to everyone who took place in the campaign.
Macquarie Bank is said to have launched an investigation after a trader was seen on live TV opening up photos on his work PC monitor of a scantily-dressed Miranda Kerr, the Australian supermodel.
