"An estimated 400 million acres of farmland in the United States will likely change hands over the coming two decades as older farmers retire," with the financial industry seeing an opportunity to profit from rising food prices and biofuels, the Inter Press Service reports.
University of Missouri economist Michael Hudson explains one of the best-kept and most pernicious secrets of contemporary capitalism: Unless the financial scheme underpinning society is restructured, the bulk of debts owed by working and poor Americans can't and won't be repaid.
The natural gas industry is waging an aggressive public relations campaign to bolster investor confidence, despite evidence showing that shale gas is an unreliable resource and that the production process releases large amounts of methane into the atmosphere. The natural gas industry is waging an aggressive PR campaign to bolster investor confidence, despite evidence that the production process releases large amounts of methane into the atmosphere.
The second installment of Michael Hudson’s status report on the U.S. economy identifies debt as the financial sector’s key weapon in the push to extract wealth from governments, companies and families.
Chairman of the Federal Reserve Ben Bernanke and multibillionaire Warren Buffett spoke to CNN Money about the Occupy Wall Street protests.
Bank of America has reported its second straight quarterly loss, $1.2 billion for the last three months of 2010 after a devaluation of its mortgage business.