The U.S. recently deployed troops to Peru to shore-up the coup in that country, followed by the deployment of troops to Ecuador and the bizarre AFRICOM plan to insert Kenya and Rwanda forces all the way from Africa to Haiti to support the illegitimate Ariel Henry puppet government in that nation. This is madness, but desperate madness! Experiencing their worst nightmare, the French are in the process of being expelled from their African empire. They have desperately drawn the line in Niger, where they had been forced to redeploy their troops after being expelled from Mali.
Yemen’s already dire hunger crisis is teetering on the edge of outright catastrophe, with 17.4 million people now in need of food assistance and a growing portion of the population coping with emergency levels of hunger, three UN agencies warned on 14 March 2022. “The humanitarian situation in the country is poised to get even worse between June and December 2022, with the number of people who likely will be unable to meet their minimum food needs in Yemen possibly reaching a record 19 million people in that period.” This has been the strong alarm launched by the Food and Agriculture Organization of the United Nations (FAO), the World Food Programme (WFP) and the UN Children’s Fund (UNICEF), following the release of a new Integrated Phase Classification (IPC) analysis on Yemen.
Lebanon defaulted Monday on a $1.2 billion Eurobond. The decision by the government of Prime Minister Hassan Diab not to meet the payment comes amid a spiralling financial and economic crisis, protests, increasing poverty and other signs of social disintegration within the country, as well as the first deaths from the novel coronavirus.
The spread of the COVID-19 virus has caused not only a world health crisis, but may also cause a deep economic depression. The fabric of society is becoming strained to the breaking point, and social, economic, and political catastrophes are already erupting in a variety of forms. We live in a society in which our very existence is constantly dominated and constrained by the dual imperatives of profit and competition.
Iran has been subject to crippling U.S. sanctions and military provocations in recent weeks. The most recent U.S. escalation began in mid-July when the U.K., through its territory of Gibraltar, seized an Iranian oil tanker accused of violating E.U.-imposed sanctions against Syria. Iran has since taken three “foreign” tankers into custody and placed 17 Iranians accused of spying for the CIA under arrest. Meanwhile, in the U.S., the 2020 election buzz has been temporarily drowned out by the deaths of over thirty people in three mass shootings.
U.S. Stocks Have Fallen For 5 Weeks In A Row – That Is The Worst Stock Market Streak In Almost 8 Years
We haven’t seen stock prices slide like this in a long time, and if this keeps up we could soon be looking at an avalanche. Our rapidly escalating trade war with China and more bad U.S. economic numbers pushed stocks down once again this week, and at this point the Dow Industrial Average has now fallen for five weeks in a row. We haven’t seen a losing streak this long since June 2011, and it is yet another indication that we have reached a major turning point. Some positive comments about China from President Trump on Friday helped to lift stocks a little...
In the summer of 2009, economists reported that one-third of the capital equipment in the United States stood idle while some 17 percent of the workforce were either unemployed, forced into part-time jobs, or “discouraged” from even seeking work. The Great Recession revealed just how much surplus capital and surplus labor was simply lying about, even in a time of urgent need. In this context, it’s no surprise that people started looking for ways to put labor and capital back together. Interest spiked — especially in worker-owned enterprises — and cities from New York to Madison, Oakland and Jackson, started investing in worker-owned businesses and business incubators.
Every time I sit down with economist Richard Wolff, he demonstrates why the field of economics is so necessary in the cultural critique of our American empire. In my recent interview with him, we discussed why the thriving economy touted by President Donald Trump hasn’t translated into real gains for the majority of Americans. We also went over what is hidden by the economic indicators that allow the financial industry to celebrate while so many Americans are still suffering.
I have mentioned the very visible decline of the USA and its associated Empire in many of my articles already, so I won’t repeat it here other than to say that the “ability to exert influence and impose its will” is probably the best criteria to measure the magnitude of the fall of the USA since Trump came to power (the process was already started by Dubya and Obama, but it sure accelerated with The Donald). But I do want to use a metaphor to revisit the concept of catastrophe. If you place an object in the middle of a table and then push it right to the edge, you will exert some amount of energy we can call “E1”.
On Meet the Press yesterday, Utah Senator Mike Lee said about our climate change crisis, “all the proposals I’ve seen so far that would address any of these issues would devastate the U.S. economy.” This is considered a reasonable explanation of maintaining the status quo. This is the insanity built into capitalism. Lee was specifically explaining why he would not support a carbon tax, the single most direct, rational, and market-friendly way of restricting carbon emissions. The context for the question was the release on Friday of a report from the US government itself saying that, within a century, climate change could cost our country “hundreds of billions of dollars annually” and kill thousands of additional Americans per year.
On October 12, 2018, hundreds of women, men, children, youth and the elderly decided to leave Honduras as a desperate response to survive. The massive exodus that began in the city of San Pedro Sula, reached more than 3 thousand people by the time the group crossed to Guatemala. The caravan, which is headed north to Mexico first, and to the United States as the goal- is the only alternative this people have to reach a bit of the dignity that has been taken from them. They are not alone in their journey. Various waves of Hondurans, whose numbers increase every hour, are being contained by Honduran security forces on their border with El Salvador and Guatemala.
The key issue to emerge from the semiannual meeting of the International Monetary Fund (IMF) held in Bali, Indonesia last week is that 10 years out from the 2008 global financial crisis the conditions have been created for another economic and financial disaster. And those in charge of the global economy have no means of preventing it, not least because the very policies they have carried out over the past decade have helped prepare it. It was somewhat symbolic that the meeting took place in the immediate aftermath of the devastating earthquake and tsunami on the Indonesian island of Sulawesi, which again underscored the extent to which the record growth of social inequality, accelerating after 2008...
Bali, Indonesia -The International Monetary Fund releases its "Global Financial Stability Report" ahead of its Annual Meetings held this year in Southeast Asia. The report finds that short-term risks to financial stability rose in the last 6 months. "The IMF is saying our economy is stable now, but there are some serious risks to stability on the horizon," noted Eric LeCompte who tracks IMF reports as the Executive Director of the religious development coalition Jubilee USA. "The IMF is also saying that inequality is on the rise and the global economic recovery is still not shared by everyone." This is the second major IMF report this week which raises concerns of pending financial crisis. On Tuesday, the IMF released its World Economic Outlook report.
Is another “Great Depression” on the horizon? It would be easier to dismiss these words from Nouriel Roubini, Marc Faber or other doom-and-gloom prognosticators. Coming from Christine Lagarde’s team, though, they take on a new dimension of scary. The International Monetary Fund head isn’t known for breathlessness on the world stage. And yet the IMF sounded downright alarmist in its latest Global Financial Stability report, stating that “large challenges loom for the global economy to prevent a second Great Depression.” Even some market bears were taken aback. “Why,” asks Michael Snyder of The Economic Collapse Blog would the IMF use this phrase “in a report that they know the entire world will read?”
More than any other presidency in modern history, Donald Trump’s has been a veritable sociopolitical wrecking ball, deliberately stoking conflict by playing to xenophobic and racist currents in American society and debasing its political discourse. That fact has been widely discussed. But Trump’s attacks on the system of the global U.S. military presence and commitments have gotten far less notice. He has complained bitterly, both in public and in private meetings with aides, about the suite of permanent wars that the Pentagon has been fighting for many years across the Greater Middle East and Africa, as well as about deployments and commitments to South Korea and NATO.