Bloomberg: The Fiscal Cliff Will Drive the U.S. Into Recession

House Speaker John Boehner says he was "flabbergasted" when Treasury Secretary Tim Geithner pitched the White House plan to save the nation from the "fiscal cliff." FULL STORY

6 Ways The Fiscal Cliff Could Affect You

Federal Reserve chairman Ben Bernanke used the term "fiscal cliff," it quickly became the newest Washington buzzphrase. As the deadline to avert the cliff nears, it has overtaken the European debt crisis as the most talked-about story in the financial media. The fiscal cliff refers to the enactment of a number of laws that would, if not changed before Jan. 1, 2013, FULL STORY

Fiscal cliff would drive the U.S. economy back into recession.

Fiscal cliff would drive the U.S. economy back into recession before end of 2013, a new report from the Congressional Budget Office said. Congressional Budget Office released a report showing that the most harmful consequences of the fiscal cliff, a fully armed and operational fiscal cliff would cost us 3.4 million jobs. Obama Fiscal Cliff Deal Risks Brush With Recession

China's Super Rich Flock Into U.S. Property Market

A young Chinese couple threw $34.5 million into a luxury mansion in Hollywood, making themselves a new neighbor of David Beckham, Jennifer Lopez and George Clooney.

News of the purchase sparked a flurry of speculation on the Internet that the young millionaire could be the son of Ning Gaoning, the former chairman of a state-owned Chinese conglomerate COFCO, as Ning is an uncommon family name among China’s bigwigs.

FULL STORY

CNOOC to buy Nexen for $15.1 billion in China's largest foreign deal

State-controlled CNOOC Ltd launched China's richest foreign takeover bid yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion, forcing Ottawa to decide whether security concerns outweigh its desire for foreign investment in its energy resources.

FULL STORY

Man gave $200K to fake online girlfriend

Police in Illinois said a man "was in disbelief" when officers told him the online girlfriend to whom he had given $200,000 was not a real person…

Source: www.upi.com

The pursuit of economic happiness

French President Nicolas Sarkozy has announced he doesn't like gross domestic product. And he is not alone. The King of Bhutan and many other people feel the same way..

www.cbc.ca

Wall Street Pursues Profit in Bundles of Life Insurance

Wall Street investment banks began searching for another big idea to make money..