Webdiary - Founded and Inspired by Margo Kingston

Several Adelaide-based US Defence Corporations are disguising themselves as small businesses to "loophole" US Legislation, according to a US Survey.

"The almighty American consumer had another banner year in 2005, helping sustain global economic growth, albeit at a slower pace than in 2004. As in recent years, he consumed at or above his income level, and the United States as a whole spent well beyond its means, borrowing from the rest of the world at a feverish pace in 2005 – more than $2 billion a day." Joseph E Stiglitz

"The international monetary and financial system has witnessed tremendous change over the recent decades. Rapid expansion in cross-border capital flows, continued financial innovation, and deepening financial markets pose increasing challenges not only for national policy makers, but also for international financial institutions. This has been particularly true of the IMF as it seeks to serve its global membership, and it has triggered a critically important discussion of the Fund’s strategic direction." Jürgen Stark