America has reached its debt limit and must start cutting back just as the economy is apparently getting weaker. Something similar is happening in Europe and Australia.
US economy
Your Say: Daily Mail readers' feedback: Who’s to blame for the market meltdown?
Crikey readers have their say.
Political snippets: Swan song should have different lyrics
When the Treasurer thinks it is reassuring to tell retirees not to panic by taking the dollars out of their super funds, we know that he must be getting jittery.
Has Obama killed the electric car?
Barack Obama has managed to push through one of the most dramatic and effective bills of his administration — the doubling of fuel economy targets for cars, writes Sophie Vorrath, of Climate Spectator.
Kohler: S&P’s false ratings alarm
The world’s sharemarkets have been jumping at shadows lately, so the impact of an actual scary boogey man — in the shape of the first downgrade of US Treasury debt in history — is completely unpredictable.
Your Say: Daily Mail readers' feedback: What happens when the herd panics?
Crikey readers have their say.
Political snippets: Kev flying by the seat of …
Kevin Rudd’s ambition to secure a seat for Australia on the United Nations Security Council is causing the first serious public rift for years within the Labor Party over Israel.
The fear infecting global markets
Crikey media wrap: If you were unsure of the magnitude of the current markets crash and downgrade of the US credit rating, the weekend’s newspaper front pages from around the world drill the message home pretty quickly.
Kohler: tipping towards a recession
This was always the great danger for the post-GFC world: that debt-laden governments, led by the US, would have to start cutting fiscal deficits before their economies reached escape velocity.
Labor’s life is in foreign hands …
A gathering economic storm overseas may wreck Labor’s entire political strategy, write Bernard Keane and Glenn Dyer.
Having a bet on a double dip
It’s hard to know what to get more worried about — the United States entering territory where a return to recession is quite possible or a Europe where the financial turmoil is spreading apace to Italy and Spain.
Maley: from triple-A to double-dip in America
As the US raced to finalise its budget deal that would prevent debt default, investors fretted that not enough had been done to ensure that it retained its triple-A rating, writes Karen Maley, of Business Spectator.
Video of the Day: The debt ceiling rap
A whopping US$14 trillion debt, but rappers still need their Cristal champagne.
US needs rehab from its debt addiction
Looking at the spending habits of the US is more reminiscent of a Latin American dictatorship circa 1980 rather than a leading Western democracy, writes Larry Elliott.
Crikey wrap: US debt-ceiling deal done
Crikey media wrap: The deal is sealed: Barack Obama made a special Sunday night announcement that a debt-ceiling plan had been agreed on and signed off by both party leaders.
New Yorker cartoonists solve the debt crisis
The Republicans and the Democrats can’t seem to negotiate a deal to resolve the debt-ceiling in the US. But surely the cartoonists from the New Yorker can?
podcast Canberra Calling: The chaff bag in the Tasman Sea podcast
This week, Crikey’s Canberra Correspondent Bernard Keane and Crikey deputy editor Jason Whittaker talk about extremism in public debate; such as Republicans taking US to brink of default, wild claims about the carbon price, why Gillard gets so much abuse and the declining trust in media.
