US Economy and UK News

How then can Americans live so well - without savings? If current trends continue, the United States will borrow an unprecedented $1 trillion this year alone, mostly from abroad, a sum that is reflected in huge U.S. budget and trade deficits. Any sane analyst has to wonder how long it can last.

The newspaper business has problems. Fewer people are reading newspapers. They're getting all the news they want from the Internet or TV. As a consequence, ad revenues at major newspapers all across the country are falling - while those of Google and other Internet media soar.

Rupert Murdoch addressed a group of newspapermen. If we're going to survive and prosper, he said, we need to provide: "Deep, deep local news. Relevant national and international news. Commentary and debate. Gossip and humor." At the same time, Murdoch may want to experiment with the concept of using bloggers to supplement our daily coverage of news on the net."