Skyrocketing debt, Wall Street deregulation, a fraying social safety net, and a diminished dollar could soon leave the United States looking like Greece.Read More
Venezuela is an economic and human rights tragedy. Turkey, Argentina and Indonesia, all major emerging-market economies, are in complete meltdown. India, Malaysia, Brazil and Mexico are in the midst of currency collapses. South Africa is in recession. China’s growth is slowing and its debt is unsustainable. The trade war between the U.S. and China is starting to take its toll and will get worse.
Note from editor: Since next year there will be an election in Indonesia, beware that those in power (the local and foreign elites) might exploit this fragile economic condition to further their political agenda. The economic situation today in Indonesia mimics that of 1998 financial crisis.
US GDP is up 38% but the US national debt has increased 122%. Overall government debt across the world has TRIPLED since Lehman’s collapse to $63 trillion. The economy is at a risk of another financial crisis.Read More
Great article from Yanis Varoufakis, an economist and ex Greece Minister of Finance. Since 2008 financial crisis, politicians went into overdrive to shift the losses from those who created them (the bankers) onto the shoulders of the innocent (middle class debtors, waged labourers, the unemployed, those on disability payments and the taxpayers who could not afford to set up off-shore accounting units). In Europe, in particular, one proud nation was turned against another by political elites determined to disguise: (A) a crisis caused by an alliance of Northern and Southern bankers and other rent-seeking oligarchs, into (B) a clash caused by the profligate Southerners and ant-like Northerners or as as crisis of over-generous German, Greek, Italian etc. social welfare systems. As a result, racism and generalised misanthropy is now triumphing in the United States and, especially, in Europe.Read More
From Democracy Now Today Sen. Bernie Sanders and Rep. Ro Khanna introduced the Stop BEZOS Act, that would tax large corporations like Amazon and Walmart for every dollar their low-wage …Read More
Just after September 11th 2001, many governments began investigations into possible insider trading related to the terrorist attacks of that day. Such investigations were initiated by the governments of Belgium, Cyprus, France, Germany, Italy, Japan, Luxembourg, Monte Carlo, the Netherlands, Switzerland, the United States, and others. Although the investigators were clearly concerned about insider trading, and considerable evidence did exist, none of the investigations resulted in a single indictment. That’s because the people identified as having been involved in the suspicious trades were seen as unlikely to have been associated with those alleged to have committed the 9/11 crimes.Read More
62 individuals – 388 in 2010 – now own more wealth than 50% of the world’s population. More shockingly, it reports from its uncontested public sources that this share of wealth by half of the world’s people has collapsed by over 40% in just the last five years.Read More