“We are now closer than ever before. I’m not going to break the confidentiality of certain conversations, but some British politicians have already told me: ‘If we had the euro, we would have been better off’,” Barroso told a weekly French news programme, referring to the fall in the pound’s value since markets and liquidity meltdown earlier this year.

“The British have an enormous quality, one of many, that is they are pragmatic,” he said on the panel of a joint RTL-LCI radio and television broadcast. “This crisis has emphasised the importance of the euro, and also of Britain,” he added.

“I don’t mean this will happen tomorrow, I know that the majority (of British people) are still opposed, but there is a period of consideration underway and the people which matter in Britain are currently thinking about it,” the former Portuguese prime minister said.

Barroso pointed to the case of Denmark, another EU state which has so far refused to accept the euro but is now planning another referendum on the single currency. The Danish voted against joining in 2000.>>>>Read the Full Article

Gennady Zyuganov told the party’s annual congress the Communists should make maximum use of the growing public discontent caused by the economic downturn to try to restore their political strength.

“The wind of history is blowing in our sails again … At this time of crisis the world of imperialism is starting to die. We are standing on the threshold of political and social shifts,” Zyuganov said in a 2-hour speech opening the congress.

Russia’s Communists ruled the Soviet Union for eight decades and remained a major opposition force for several years after the collapse of the Soviet Union at the end of 1991.

But the party has since lost much of its authority and many analysts say it is too weak to seriously challenge for power.

The Russian authorities are trying to minimise the impact of the financial crisis by promising billions of dollars of state aid. Prime Minister Vladimir Putin has pledged higher social payments to the needy and lower taxes for business.

“The authorities are clearly not coping with managing the country … A mass social protest is brewing and it is hard to predict now when and in what shape it will explode,” Zyuganov said.>>>>Read the Full Article

During the campaign for the Democratic nomination, Obama mocked Clinton’s primary claim that she possessed the necessary foreign policy experience to be president.

“What exactly is this foreign policy expertise?” Obama said to reporters in March, while flying from a campaign event in Texas. “Was she negotiating treaties? Was she handling crises? The answer is no.”

In spite of these doubts, Obama praised Clinton’s credentials Monday, saying she would be able to advance America’s interests due to her knowledge of world affairs and familiarity with world leaders.

“She is an American of tremendous stature who will have my complete confidence, who knows many of the world’s leaders, who will command respect in every capital, and who will clearly have the ability to advance our interests around the world,” he said.

Obama said that his new foreign policy team, which will be led by Clinton, would change America’s foreign policy for the better.

“I am confident that this is the team that we need to make a new beginning for American national security,” he told reporters at the announcement.

However, Obama had expressed exactly the opposite view of Clinton during the primary campaign.

“It’s what’s wrong with politics today. Hillary Clinton will say anything to get elected,” Obama said in a January radio ad. “Hillary Clinton. She’ll say anything and change nothing.”

Obama also said Monday that he>>>>Read the Full Article

The state’s revenue gap is expected to hit $28 billion over the next 19 months without bold action. The emergency declaration authorizes the governor and lawmakers to change the existing budget within the next 45 days.

Without quick action, the state is likely to run out of cash in February.

Schwarzenegger and Democrats have proposed a combination of tax hikes and spending cuts, but Republican lawmakers are steadfast in their refusal to raise taxes.

Lawmakers failed to reach a compromise during the special session Schwarzenegger declared last month, pushing the problem to a new Legislature that was being sworn in Monday.

The crisis worsens each week, so the Republican governor did not want to waste any time in declaring a special session, said his spokesman, Aaron McLear.

“It’s important that we start on Day One so the new Legislature can start immediately to solve our fiscal crisis,” he said.

There appeared to be little reason to believe that Republican lawmakers would budge on their opposition to tax increase.

“If anything, I think our resolve (against raising taxes) is deeper than it has ever been because of the economic realities,” Senate Minority Leader Dave Cogdill said Monday.

Democrats don’t have the two-thirds majority in either the Assembly or Senate that is required to pass tax increases or a state budget.>>>>Read the Full Article

“Well, you hear a lot of loose talk, but let me just … say, as a scholar of the Great Depression — and I’ve written books about the Depression and been very interested in this since I was in graduate school, there’s no comparison,” Bernanke said in a question period after an address in Austin, Texas.

Bernanke cited “an order-of-magnitude difference” in the current situation compared to the 1930s.

“During the 1930s, there was a worldwide depression that lasted for about 12 years and was only ended by a world war,” he said.

“During that time, the unemployment rate went to 25 percent, at least, based on the data that we have. The real GDP (gross domestic product) fell by one-third. About a third of all of the banks failed. The stock market fell 90 percent.”

Bernanke said the situation at that time represented “very difficult circumstances,” because “we didn’t have the social safety net that we have today. So let’s put that out of our minds; there’s no — there’s comparison in terms of severity.”

He added, “We’re very lucky to live in a country as rich and diversified as the one we have. And I hope that we will have a quick and rapid recovery from the current slowdown.”

Still, the Fed chief said lessons learned from the Depression may still apply today>>>>Read the Full Article

“This case is a travesty,” said Alex Epstein, an analyst at the Ayn Rand Center for Individual Rights. “Cuban is accused of selling his stock in Mamma.com after the CEO told Cuban that the company would be making a new stock offering that Cuban thought was a bad idea. But there is nothing wrong with this whatsoever–unless Cuban had a contractual obligation or fiduciary duty not to act on the information. And if Cuban violated a contract, which there is no evidence of, then that is the injured party’s–the company’s–job to pursue, not the SEC’s. In all likelihood, if there is anyone who violated a contractual obligation, it is the CEO who divulged confidential, unsolicited information–not the famous billionaire recipient who just happens to make a juicy target for SEC bureaucrats thirsting for another high-profile case to justify their regulatory power.

“The question of ‘insider trading’–when employees and investors of a company can act on certain information–should be left entirely up to private contract, such as restrictions on CEOs shorting their own stock. The criminalization of ‘insider trading’ has authorized the SEC to terrorize those whose only sin was to be a savvy investor. The Mark Cubans of the world deserve to be left free to make investment decisions under a government with clear laws against force, fraud, and breach of contract–not to spend years of their lives enduring witch hunts and prisons.”>>>>Read the Full Article

The Black Friday stampede plunged the Valley Stream outlet into chaos, knocking several employees to the ground and sending others scurrying atop vending machines to avoid the horde.

When the madness ended, 34-year-old Jdimytai Damour was dead and four shoppers, including a woman eight months pregnant, were injured.

CAUGHT ON CAMERA: WAL-MART CROWD MOMENTS BEFORE DEADLY STAMPEDE

“He was bum-rushed by 200 people,” said Wal-Mart worker Jimmy Overby, 43.

“They took the doors off the hinges. He was trampled and killed in front of me.

“They took me down, too … I didn’t know if I was going to live through it. I literally had to fight people off my back,” Overby said.

Damour, a temporary maintenance worker from Jamaica, Queens, was gasping for air as shoppers continued to surge into the store after its 5 a.m. opening, witnesses said.

Even officers who arrived to perform CPR on the trampled worker were stepped on by wild-eyed shoppers streaming inside, a cop at the scene said.

“They pushed him down and walked all over him,” Damour’s sobbing sister, Danielle, 41, said. “How could these people do that?

“He was such a young man with a good heart, full of life. He didn’t deserve that.”

Damour’s sister said doctors told the family he died of a heart attack.

His cousin, Ernst Damour, called the circumstances “completely unacceptable.”

“His body was a stepping bag with so much disregard for human life,” Ernst Damour, 37, said. “There has to be some accountability.”

Roughly 2,000 people gathered outside the Wal-Mart’s doors in the predawn darkness.

Chanting “push the doors in,” the crowd pressed against the glass as the clock ticked down to the 5 a.m. opening.

Sensing catastrophe, nervous employees formed a human chain inside the entrance to slow down the mass of shoppers.

It didn’t work.

The mob barreled in and overwhelmed workers.

“They were jumping over the barricades and breaking down the door,” said Pat Alexander, 53, of Crown Heights, Brooklyn. “Everyone was screaming. You just had to keep walking on your toes to keep from falling over.”

After the throng toppled Damour, his fellow employees had to fight through the crowd to help him, police said.

Witness Kimberly Cribbs said shoppers acted like “savages.”>>>>Read the Full Article

In a major speech focused on Obama, titled “A Springtime of Possibility,” CPUSA leader Sam Webb declared the U.S. is now “on the road to socialism.”

Webb defined socialism as a “society that is egalitarian in the rough sense, eliminates exploitation of working people, brings an end to all forms of oppression, and is notable for the many-layered participation of working people and their allies in the management of the economy and state.”

In the speech, delivered at the CPUSA’s national convention Nov. 15 and posted on the party’s website, Webb stated it is “no exaggeration” to call Obama’s victory a “sea change.”

He referred to last month’s election as a “rout of right-wing extremism, a reaffirmation of the decency of our country and people, a leap forward on freedom road and a people’s mandate for change.

“A sense of joy, catharsis and renewal is in the air,” said Webb. “Expectations are high. A new era of progressive change is waiting to become a reality. If the past eight years of the Bush administration seemed like a winter of discontent, Obama’s ascendancy to the presidency feels like a springtime of possibility.”

He continued>>>>Read the Full Article

Q: [How have you] made ends meet (feeding, clothing, diapering, entertaining, etc.) while still being debt-free? Also, how do [you] pay for everything without credit, and still have money in the bank every month? — Marni, Kings Mountain, N.C.

Jim Bob: How do [other] people pay interest for the debt on top of making ends meet? What we’ve done is something that a lot of people don’t want to do. It’s not keeping up with the Joneses. We’ve always driven older vehicles; we’ve never bought a new vehicle.

In the past, Michelle’s gone to garage sales and bought shoes for a dollar. We probably spend less on clothing than what a family of four would spend. We spend a lot of money on food — $3,000 a month on food and diapers and that type of stuff.

We saved up and paid cash for our second house 18 years ago, then spent a year remodeling to get it fixed up to be livable. But then we didn’t have house payments. We don’t have any debt, so it makes it easier to live.

Michelle: We went to a financial freedom seminar when we were young. It was about getting out and staying out of debt. It really is freedom when>>>>Read the Full Article