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Merkel suggested the European Central Bank and its U.S. and U.K. peers may be laying the groundwork for the next financial crisis. (Excerpts)

Bernanke pushes for return to fiscal balance, citing soaring deficits.

News24.com, Online news portal, Cape Town, South Africa

Stocks retreated Wednesday morning as some mixed readings on the economy and cautious comments from Fed Chairman Ben Bernanke gave investors a reason to be cautious after four straight sessions of gains.

Washington needs to get a grip on its exploding deficit or risk the united states' longer term recovery, the country's top banker said Wednesday.

News24.com, Online news portal, Cape Town, South Africa

As complex as the chemistry of life may be, the conditions for the vigorous growth of plants often boil down to three numbers, say, 19-12-5. Those are the percentages of nitrogen, phosphorus and potassium, prominently displayed on every package of fertilizer. In the 20th century the three nutrients enabled agriculture to increase its productivity and the world’s population to grow more than sixfold. But what is their source? We obtain nitrogen from the air, but we must mine phosphorus and potassium. The world has enough potassium to last several centuries. But phosphorus is a different story. Readily available global supplies may start running out by the end of this century. By then our population may have reached a peak that some say is beyond what the planet can sustainably feed.Moreover, trouble may surface much sooner. As last year’s oil price swings have shown, markets can tighten long before a given resource is anywhere near its end. And reserves of phosphorus are eve