Econ 101: October 17, 2011

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • The Occupy Wall Street protests spread to four continents yesterday, with protesters demonstrating in Toronto, Tokyo, London, Rome, and other cities. [Bloomberg]
  • President Obama yesterday offered more support to the ongoing protests, “but called on [protesters] not to ‘demonize’ those who worked on Wall Street.” [Financial Times]
  • Obama’s campaign team has “decided to turn public anger at Wall Street into a central tenet of their reelection strategy.” [Washington Post]
  • Gallup’s Basic Necessities Index “fell to a level on par with lows measured in February and March 2009,” as many Americans are finding it “increasingly difficult for them to get access to basic necessities like food, health care and shelter.” [Huffington Post]
  • The administration’s plan for high-speed rail “is foundering, as Congress moves to clamp down on funding and a showcase California project encounters new hurdles.” [Wall Street Journal]
  • Speaker of the House Boehner (R-OH) said that a bill cracking down on China’s currency manipulation — which passed the Senate easily — is “dead on arrival” in the House. [Bloomberg]
  • Finance ministers of the G20 nations “pledged Saturday to take ‘all necessary actions’ to stabilize global financial markets and ensure that banks are well capitalized.” [CNN Money]
  • A new labor contract between the UAW and Ford “looked assured of ratification on Sunday night after receiving overwhelming support at two major union locals.” [Reuters]