The governor of the Bank of England has issued a rallying cry to policymakers across advanced economies to tackle the causes of a growing sense of “isolation and detachment” among people who feel left behind by globalisation.

Warning that the UK was suffering its “first lost decade since the 1860s”, Mark Carney said that one of the reasons for the Brexit vote was a sense among people that they had lost control of their futures.

Read the Full Article: Source – The Guardian
Time For Truth: (The Guardian) – Mark Carney: we must tackle isolation and detachment caused by globalisation

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A global warming research center at the London School of Economics got millions of dollars from UK taxpayers by taking credit for research it didn’t perform, an investigation by The Daily Mail revealed.

The UK government gave $11 million dollars to the Centre for Climate Change Economics and Policy (CCCEP) in exchange for research that the organization reportedly never actually did.

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The International Monetary Fund has urged governments to take action to tackle a record $152tn debt mountain before it triggers a fresh global financial and economic crisis.

Warning that debt levels were not just high but rising, the IMF said it was vital to intervene early in order to mitigate the risks of a repeat of the damaging events that began with the collapse of the US sub-prime housing bubble almost a decade ago.

Read the Full Article: Source – The Guardian
Time For Truth: (The Guardian) – IMF urges governments to tackle record global debt of $152tn

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Fears of a fresh debt crisis in developing countries that would send shockwaves through the global financial system have been highlighted by a United Nations report stressing the vulnerability of poor states to falling commodity prices and higher interest rates.

The annual report from the UN conference on trade and development (Unctad) said the benefits of the debt relief provided to some of the world’s poorest countries as a result of the mass public campaigns of the late-90s and early 2000s were “fast evaporating”.

Read the Full Article: Source – The Guardian
Time For Truth: (The Guardian) – UN warns over global fallout from debt crisis in poor countries

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Even seven years after the recession ended, the current stretch of economic gains has yielded less growth than much shorter business cycles.

In terms of average annual growth, the pace of this expansion has been by far the weakest of any since 1949. (And for which we have quarterly data.) The economy has grown at a 2.1% annual rate since the U.S. recovery began in mid-2009, according to gross-domestic-product data the Commerce Department released Friday.

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