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As the stock markets predicted on Tuesday (with a huge bounce) the Federal Reserve is on a mission. The US central bank slashed its base interest rate to 1% last night.

That sounds low, but actually it’s not that long since US rates were at 1%. The last time they were at this level was only back in 2004. In fact, chronically low interest rates in the US are one of the main reasons that we’re in the current mess.

So you’d be forgiven for asking, how are they supposed to help now?

Let’s find out…
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Two white skinhead believers in “white power” who allegedly planned to assassinate Barack Obama in a shooting spree that also targeted African-American school children have been arrested by federal authorities in Tennessee. for more click here

A gang of five men beat a Somali teenager to death because of a row over Muslims drinking alcohol, a court heard today.

Ahmed Mohammed Ibrahim, 17, was repeatedly hit across the head with a samurai sword, baseball bat, machete and metal pole after being chased in Sefton Park, Liverpool, in March this year. for more click here

Two Muslim women who worked as brokers in the City of London have accused their former employer of religious discrimination by transferring Jewish clients to non-Muslim colleagues. for more click here

ScienceDaily (Oct. 28, 2008) — The global financial crisis could seriously delay the discovery and production of many new life-saving medicines, warns a major international conference on October 27. for more click here

It seems as though every other day we hear there is another “ceasefire” in the Middle East. This is chiefly because there is so much violent Islamofascist aggression throughout the Middle East but it is also because of something more. Just as there is no exact translation between the Arabic and English languages, we in the West would be wise to realize that this “inexactness” exists as a constant in the relationship between the cultures of Islam and Western Civilization. This convolution of conceptual understanding is aptly illustrated where the subject of military ceasefires is concerned. for more click here

Only one so-called “preacher of hate” has been deported from Britain in the last three years despite Government claims to be tackling extremists, it has been disclosed. for more click here

Just when you thought you’d never hear a cheerful financial news story again, along comes BP.

The oil giant once again thrashed City expectations (for the third time in a row) with its third quarter figures. Replacement cost profits more than doubled to £6.4bn. The group also raised its dividend by a full 64% compared to the same quarter last year.

You might think that politicians would be happy about it. After all, at least some companies are still competently run and able to contribute money to Britain’s tax coffers. It’s much more than can be said for the banks, for example.

But we should know better than that. To believe that politicians would welcome an oil company’s record profits, you’d also have to believe that integrity and economic literacy had suddenly become common place in the House of Commons.

As if…
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The world is heading for an “ecological credit crunch” far worse than the current financial crisis because humans are over-using the natural resources of the planet, an international study warns today. for more click here

The threat to Britain posed by declining oil production is greater than that of terrorism, an industry group has said. for more click here