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  Economy: The Worst Yet to Come?
  The national debt surpassed $13 trillion in June. A Pew Research poll shows that 55 percent of Americans have seen a decline in their income since the Great Recession started, consumer confidence has dropped by twenty percent, and the markets took a plunge. Alyona asks if we are headed for a double dip, a third depression. Alyona discusses what the stock markets are indicating with Reason Foundation policy analyst Anthony Randazzo.
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  Spain economy hit by unemployment...
  Spain has seen a wave of strikes and protests by public sector workers as the government tries to slash mounting debt. Although they carry the European Union's highest unemployment rate at a staggering 20 per cent, Spain's government insists it does not need a bailout such as the one recently handed down to Greece. Al Jazeera's Barnaby Phillips reports on why that view is not shared by many Spanish firms and their workers. July 5, 2010
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  Japan's giant economy in peril...
  Japan, the world's second biggest economy, has racked up debt totalling $9.4t while its gross domestic product (GDP) is only $5t, making its debt to GDP ratio 181 per cent - the highest among rich countries. Too much debt could render a country's bond worthless and impact economic growth. A recent example of a country that has faced a troubled economy due to its massive accumulation of debt is Greece. But Tomohiko Taniguchi, a professor at Keio University in Japan's capital Tokyo, told Al Jazeera the difference between Japan's economic situation and Greece's is that "Japan's government debt has been almost exclusively purchased by domestic investors. Unlike Greece, the Japanese are indebted not significantly to the outside world". "It is more sustainable than the case of Greece, but you have to boost demand, you have to grow. The Japanese government has to make not baby steps but a significant leap," he said. "And most importantly, the Japanese government has to convince the Japanese domestic investors as well as the international market about the long term projection of the economy, the long term blueprint as to what the government will do to tackle both the lack of demand and ballooning budget deficit." Naoto Kan, Japan's prime minister, has suggested an increase in sales taxes to combat the economic problem. But Taniguchi said: "I think it's more important that the Japanese administration proposes to reduce corporate tax first rather than increase the general sales tax <b>...</b>
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  How an Economy Grows & Why it C...
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