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POPSRussia pledged to station new missiles near Poland's border
Countries don't like missile bases being put on their border (Even if it's claimed they are "defensive.") The USA, over the last two years, has pressured and bribed Poland and Czechoslovakia to corporate in putting such a missile base on Russia's border. Now the missile base has started construction in Poland and a radar system in the Czech Republic. For all this time Russia has been saying "don't do it," then started saying they will respond with military actions, now they are moving some of their nuclear missiles up to the Polish border; they have also said previously that they have reprogrammed other missiles to target cities in Europe. Polls say a majority of Czechs oppose this. Czech MEP Libor Rouček speaks out against these USA plans. " No Bases Initiative" demonstrates. Two thirds of people in the UK also feel threatened.. 50 Labour MPs have issued a statement calling for a public debate Bush is like a mad dog. I urge Europeans to fight this like your life depend
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POPSSTOCK FUTURES RALLY OPEC tells IMF that without quick end to financial market crisis, bearish sentiment in oil market is likely to continue. • Saefong reports on taking refuge in gold
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POPSBernanke, Paulson, Trichet May Act to Unblock Lending (Update1)
Rates are also surging in the commercial paper market that many U.S. companies use to finance their day-to-day operations. Yields on overnight U.S. commercial paper jumped 0.94 percentage point to 3.68 percent. `The Federal Reserve must now act as a clearing house'' for banks and ``must also take another bold step: outright purchases of commercial paper, said Bill Gross, manager of the world's biggest bond fund at Newport Beach, California-based Pacific Investment Management Co. Europe's Dow Jones Stoxx 600 Index having its steepest intraday decline since 1987 and emerging markets, until now the locomotives of the world economy, hit particularly hard: exchanges in Russia and Brazil halted trading. One less complicated step would be for central banks to lower rates in concert. Traders are betting that the Bank of England will lower rates at a meeting this week, and that the Fed will cut its benchmark by at least half a point at or before an Oct. 28-29 gathering.
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POPSDo Central Banks Matter? European and U.S. central banks have been trying to flood the banking system with money and prodding banks to lend to each other, but it doesn't seem to be working. Inter-bank lending has gotten more expensive, suggesting banks' unwillingness to extend credit. So much for the power of the central bank.
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