If the coalition government proceeds with the research funding cuts to the chemical industry, it betrays that it has fundamentally misunderstood how the real economy works, placing short-term (non)-savings over long-term economic solvency.
Stock markets are essentially where people bet on the future of the economy. This week investors have reached the conclusion, in large numbers, that the economic future is bleak and they are cashing in their chips.
Financial austerity has led to a sharp slowdown in military expenditure in many countries across the world. The US remains by far the biggest spender at $698 billion, while deep cuts in Europe underline US concerns that NATO allies are failing to pull their weight