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The collapse in US workers' wages can be directly attributed to the presidency of George W. Bush: report

One of the statistical touchstones for left-leaning economists is the run of figures showing that US workers have suffered three decades of flat wages. There is no better way to illustrate how capitalism, marching to its own tune, fails most of America’s 160 million workers than wage data that hardly moves from year to year after inflation is taken into account.

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IMF study debunks right-wing arguments against income redistribution

The International Monetary Fund has backed economists who argue that inequality is a drag on growth in a discussion paper that has also dismissed rightwing theories that efforts to redistribute incomes are self-defeating.

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World prepares for U.S. debt default

Phillip Inman, The Observer

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Stock markets surge as Dow closes at all-time high

Stock markets in New York and London climbed to new highs on Tuesday as the Dow Jones Industrial Average surged to its highest closing level and the London market surpassed a level last reached five years ago.

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U.S. recovery stalls after first quarter of negative growth in three years

The US economic recovery juddered to a halt in the final months of 2012 as the government slashed defence spending, business orders declined, and Washington fought over the fiscal cliff budget crisis.

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$240 billion amassed by 100 richest people enough to end extreme poverty four times over: Oxfam

The vast fortunes made by the world's richest 100 billionaires is driving up inequality and hindering the world's ability to tackle poverty, according to Oxfam.

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Bank of England official: Occupy movement was right about global recession

The Occupy Movement has found an unlikely ally in a senior Bank of England official, Andrew Haldane, who has praised protesters for their role in triggering an overhaul of the financial services sector.

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Bank of England official: Occupy movement right about global recession

The Occupy Movement has found an unlikely ally in a senior Bank of England official, Andrew Haldane, who has praised protesters for their role in triggering an overhaul of the financial services sector.

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Greek economy to shrink 25 percent by 2014

The ailing Greek economy is on the verge of a 1930s-style Great Depression, as the Athens government predicted a 25% fall in GDP by 2014, putting intense pressure on the EU to relax the terms on the country's €130bn (£105bn) bailout package

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Food prices could skyrocket as U.S. harvest continues to wilt in blistering heat

Chicago corn price jumps by 3% to highest since last autumn as maize, soybean and wheat yields also suffer due to drought

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