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Fiscal Cliff: Hasty Fix Would Cause ‘Austerity Bomb’

Republicans claim $2.2 trillion would be saved by their plan for deficit reduction, but economist Paul Krugman calls it a “vapor plan,” lacking details on where savings will come from. Krugman, an economics professor and 2008 Economics Nobel Prize recipient hits hard on the substance of the two plans and why reducing the deficit too fast will push the economy back into recession.

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Australia PM heckled at Sydney mosque Ramadan event

Australia PM heckled at Sydney mosque Ramadan event

Community tensions - and reports of both antisemitism and Islamophobia - have been rising in Australia since Hamas attacked Israel on 7 October 2023, killing more than 1,200 people and taking 251 others hostage. Israel's offensive in Gaza has led to more than 72,000...

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The global winners and losers of the war in Iran

The global winners and losers of the war in Iran

Firstly, because some producers are heavily exposed to disruption in the Middle East. ExxonMobil, for instance, has operations at Qatar's Ras Laffan industrial hub, where production has been shut down since early March, and which has now been hit by Iranian missile...

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US considers lifting sanctions on some Iranian oil

US considers lifting sanctions on some Iranian oil

"To put it mildly, this is bananas," said David Tannenbaum, director of Blackstone Compliance Services, a consultancy specialising in maritime sanctions. "Essentially we're allowing Iran to sell oil, which could then be used to fund the war effort." Article...

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