Back in August, Texas Gov. Rick Perry — a man who appeared to have a serious chance at becoming the next president — was saying his state would treat Ben Bernanke “pretty ugly” if he didn’t stop printing money. But Bernanke’s reception in front of the Senate Budget Committee was quite a bit, well, prettier. “I believe when history has been written, you will be a critical figure,” enthused Sen. Bill Nelson (D-Fla.). “Your role has been prominent in preventing the complete collapse of the financial system. For that I am grateful.” And Nelson wasn’t alone. The hearing quickly turned into a total Bernanke lovefest. Read full article > >

See more here:
A bipartisan Bernanke lovefest

After weeks of protests, Emil Boc, Romania’s prime minister, resigned Monday, the latest European leader to fall victim to a mood of public outrage over austerity measures and stagnant growth.

Go here to see the original:
Emil Boc, Romanian Prime Minister, Resigns Amid Protests

Federal Reserve Chairman Ben S. Bernanke on Thursday cautioned lawmakers against taking any steps that would hurt economic growth as they work to cut the nation’s debt, and he defended the central bank’s recent actions to support the economy. Read full article > >

See original here:
Fed chief warns Congress against hampering growth while cutting debt

Inappropriate spending cuts could “strangle” growth, so austerity measures should be tailor-made by each country, the head of the IMF warns.

Visit link:
IMF issues austerity cuts warning

The Federal Reserve said Wednesday that it would keep interest rates near zero through 2014 or longer to help boost the economy and for the first time set an explicit inflation target of 2 percent, signaling that the central bank is frustrated with the weak pace of growth. Read full article > >

Here is the original post:
Fed: Rates likely to remain near zero through 2014; inflation target set at 2%

With mounting debts, negligible growth and dwindling foreign reserves, Egypt’s military rulers and the new Islamist-led Parliament face a crisis that could undermine the political transition.

View post:
Egypt’s New Path Complicated by Economic Problems

A study suggests that dutasteride may slow or stop tumor growth in men who decide against surgery.

Read more from the original source:
Dutasteride Is Seen to Curtail Cancer Left in Prostate

Discount retailer Costco Wholesale is making greater inroads into the Washington area with plans for a new store on a 12-acre tract in Alexandria, one of three locations in the works in the region. Costco stands to gain grocery market share, albeit marginal, at a time when traditional players, like Food Lion and Superfresh, struggle to compete in a changing industry. Drug stores and big-box chains are muscling in on supermarkets with a wider selection of groceries. Value-oriented merchants, such as Costco, still hold a profitable stake in the industry and are finding room for growth. Read full article > >

Original post:
Costco Wholesale drives deeper into Washington area

Capitalism is only concerned with growth and making profit, not responsibility, the Marxist historian Eric Hobsbawm tells Newsnight’s Jeremy Paxman.

The rest is here:
VIDEO: Capitalism ‘nothing to do with responsibility’

BEIJING — China’s economy grew by 8.9 percent in the final quarter of last year, better than economists had predicted but still signaling that the world’s second largest economy is starting to cool. A steep year-end drop in exports and a cooling real estate market contributed to the slowdown. Read full article > >

See original here:
China’s December growth slowest in 2½ years

One analyst says that even with signs of cooling growth, “the basic structure of the economy is still O.K.”

Read more:
Chinese Economic Growth Slipped Again in 4th Quarter

Deputy Prime Minister Nick Clegg urges more firms to offer shares to their staff, saying it will improve productivity and boost growth.

The rest is here:
Clegg plan for employee ownership

In Spain, the prime minister pledged spending cuts and a banking-system cleanup, while in Italy, the prime minister called for “efforts in favor of growth.”

Originally posted here:
After Downgrades, European Leaders Argue for Both Austerity and Stimulus

Tesco reports a fall in UK sales over Christmas and says it expects “minimal” profit growth in 2012, as other high profile retailers also report tough times.

Here is the original post:
Tesco festive trade ‘disappoints’

In Berlin, there is a deep consensus among policy makers and economists — bordering on orthodoxy — that austerity and growth are not enemies. They are comrades.

Visit link:
News Analysis: Germany Resists Europe’s Pleas to Spend More