Economic crisis

The Invisible Weapon: Sanctions, Overcompliance, And The Human Cost

July 19, 2026 Carmen Navas Reyes, BreakThrough News. Educate! Collective Punishment, Economic crisis, Human Rights, US Sanctions, Venezuela

The fear of Unilateral Coercive Measures, or sanctions, is not unfounded. For example: since 2018, the Office of Foreign Assets Control has imposed sanctions against Iran’s use of cryptocurrencies; the decentralized nature of the blockchain no longer offers any immunity. Any exchange or virtual asset service provider with any connection to the United States – whether by being incorporated there, having US customers, or processing transactions in dollars – is required to block transactions, verify IP addresses, and report frozen assets, under threat of multimillion-dollar fines and exclusion from the dollar-based financial system; the same happened with the Petro in the Venezuelan case.

Louisiana’s Tough-On-Crime Policies Will Cost Taxpayers Millions More

May 25, 2026 Richard A. Webster and Charles Maldonado, Pro Publica. Educate! Economic crisis, Louisiana, Mass Incarceration, Taxes

The day after a shooting last month killed a teenager and injured five people at the Mall of Louisiana, Gov. Jeff Landry blasted what he referred to as “hug-a-thug” policies — reforms put in place prior to his tenure when the state was trying to shed its reputation as the nation’s incarceration capital. He also demanded harsher penalties for violent minors. “I’m done with them. It doesn’t matter how old they are,” Landry, a Republican, said during a news conference in Baton Rouge. “We’ve got 18,000 acres at Angola — if it was up to me, I would send them all there for the rest of their lives.”’

Saudi Arabia Halts Payments To Western Consulting Firms

May 22, 2026 News Desk, The Cradle. Educate! Economic crisis, Iran, Saudi Arabia, Wars and Militarism

Saudi Arabia has stopped issuing new contracts for western consulting firms and delayed some payments in a bid to reduce a growing budget deficit and ramp up defense spending amid the closure of the Strait of Hormuz and US-Israeli war on Iran, the Financial Times (FT) reported on 21 May. Riyadh made the decision after the eruption of the war on 28 February, which saw Iran effectively close Hormuz to US- and Israeli-linked vessels, threatening Saudi oil exports and revenues, according to executives at consultancies.

The 2026 World Financial Crisis

May 21, 2026 Michael Hudson, Counter Punch. Educate! Economic crisis, Global Economy, Inflation, Interest Rates

Interest rates are rising as if this will simply compensate investors for the risk of inflation. The reality is that it will increase the economy’s inability to cope with the breakdown that is already in progress. The moral rationalization is to protect the purchasing power of creditor claims on debtors, as measured by the purchasing power of debt payments over consumer prices. The pretense is that creditors use their interest to buy goods and services. But already in the 18th century, critics of debt financing recognized that bondholders recycle most of their money into new loans.

Lessons For Everyone From The Irish Farmer Protests

April 29, 2026 Anthony Pahnke, Portside. Resist! Economic crisis, Farmers, Ireland, Mass Action

Can anything make farmers turn away from President Donald Trump? How right-wing populism has gripped rural areas, especially among farmers, is evidenced by the results from the past few presidential elections. Still, critical challenges are emerging for key constituencies in Trump’s base, principally due to the damage that the Iran War is doing in the countryside. Similar conditions pushed Irish farmers to the streets in early April, causing a change among political leadership shortly after, and also helping producers receive some much-needed relief.

The Fortaleza Declaration (2014)

April 27, 2026 Arnie Saiki, Decolonize Accounting. Educate! BRICS, Economic crisis, Fortaleza Declaration, Neoliberalism

I’m reposting the Fortaleza Declaration in full because the declaration is harder to find on Google Search now. To get a sense of how important this 2014 moment was: It was the BRICS economies that largely remained solvent after what should have been the death of neoliberalism in 2008, and signaled the downturn of the OECD economic hegemony—the neocolonial consensus of the World Bank, IMF, and WTO. Unfortunately, it signaled the beginning of destabilization, regime change, coups, and a militarized containment policy that sought to perpetuate the colonial manifest that gave us World Wars one and two.

Is Another Financial Crisis Brewing In The US Economy?

April 22, 2026 Ben Norton, Geopolitical Economy. Resistance Report Artificial Intelligence (AI), Economic crisis, United States, Wall Street

There are growing signs that the United States may be on the verge of another major financial crisis, one that could start in the private credit market, which is already seeing significant turmoil, before spreading to other sectors. Geopolitical Economy Report editor Ben Norton interviewed economist Michael Hudson to discuss the serious problems on Wall Street. Hudson warned that the US economy is built on a Ponzi scheme that depends on continuing to pour money into a bloated, bubbly financial system based on unsustainable speculation, not industrial production.

The War On Iran Is Transforming The Global Economy

March 29, 2026 Ben Norton, Geopolitical Economy. Resistance Report Economic crisis, Global Economy, Iran, Wars and Militarism

The US-Israeli war on Iran is transforming the geopolitical order, and could even unleash a global economic crisis. The conflict has caused the largest oil shock in history, disrupting global markets and driving up fuel and food prices. To better understand the implications for the world, Geopolitical Economy Report editor Ben Norton interviewed economist Michael Hudson, who discussed how Iran is challenging US dollar dominance and undermining Washington’s control over the global oil market, which has been a key pillar of US foreign policy.

Senegal On The Edge Of Collapse

March 27, 2026 Vijay Prashad, Tricontinental Institute for Social Research. Educate! Debt, Economic crisis, Global South, International Monetary Fund (IMF), Neocolonialism, Senegal

Senegal entered 2026 in the grip of a growing debt crisis that seems insurmountable. After the government of President Bassirou Diomaye Faye took power in April 2024, it became clear that his predecessor, Macky Sall (who held office from 2012 to 2024), had concealed enormous liabilities – including hidden loans equivalent to 25.3 percent of GDP – from the Senegalese people and the International Monetary Fund (IMF). These liabilities expose a structural contradiction: a development model subordinated to external finance has clear limits. Senegal can no longer continue along this path.

The Next Financial Shock To Come From Trump’s War With Iran

March 27, 2026 Logan McMillen, Portside. Educate! Debt, Economic crisis, Trump Administration, United States

Let’s set the scene. The U.S. government is staring down a projected $1.9 trillion deficit for this fiscal year, with the total national debt now pushing $39 trillion. Simultaneously, the expanding war in Iran and the subsequent crisis in the Strait of Hormuz have fractured global energy supply chains, driving Brent crude to $119 a barrel and sparking a massive inflationary shock. By any standard metric of sovereign risk, a state that is rapidly accelerating its debt issuance while engaging in a war of choice that is throttling the worldwide supply of oil should be facing the possibility of having its bonds repriced.

Worse Than 2008?

March 21, 2026 Richard Heinberg, Resilience. Educate! Capitalism, Economic crisis, Global Economy, Iran, Wars and Militarism

Several commentators have remarked that the United States’ war on Iran carries echoes of 2008. I’ll argue here that a potential financial crash this year could actually be much worse. The Global Financial Crisis (GFC) of 2008 was the biggest economic crunch since the Great Depression. Unemployment surged, topping 10 percent in the US. Global stocks lost trillions of dollars in value. Major brokerage houses collapsed. The US auto industry only survived thanks to enormous government bailouts. How could another crash top that?

How Close Is The Next Financial Crisis?

February 22, 2026 Jack Rasmus. Educate! cryptocurrency, Economic crisis, Financial Bubbles, Metals, United States, Wall Street

During the past fourteen months since Trump took office, financial asset market bubbles accelerated to record levels in 2025—i.e. S&P 500 and Nasdaq stock markets, bitcoin cryptocurrency market, and gold and silver markets. In early February 2026 these markets abruptly contracted, briefly recovered some, but then resumed decline once again. The key question debated today in corner offices, board rooms and hallways of finance capitalist institutions is whether the financial bubbles can continue growing much longer. If not, what’s next? After the abrupt and steep corrections will financial asset prices recover or are the February 2026 contractions a harbinger of more, and perhaps even larger, financial asset price declines to come?

Engineering Iran’s Unrest

January 30, 2026 Jeffrey D. Sachs and Sybil Fares, Consortium News. Educate! Economic crisis, Iran, US Regime Change, US Sanctions

John Maynard Keynes famously wrote inTheEconomic Consequences of the Peace(1919): “There is no subtler, no surer means of overturning the existing basis of Society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction and does it in a manner which not one man in a million is able to diagnose.” The United States mastered this art of destruction by weaponizing the dollar and using economic sanctions and financial policies to cause the currencies of targeted countries to collapse. On Jan. 19, we published “The US–Israel Hybrid War Against Iran,” describing how the United States and Israel are waging hybrid wars on Venezuela and Iran through a coordinated strategy of economic sanctions, financial coercion, cyber operations, political subversion, and information warfare.

The New Horsemen Of The Apocalypse

January 25, 2026 Arnie Saiki, Decolonize Accounting. Strategize! Economic crisis, Societal Collapse, US Empire, Violence

We face a difficult question: what happens when the asset bubble pops and savings prove far less dependable than we assumed? What happens when things get worse? How should we prepare for the psychological, financial, discriminatory, and violent upheaval that approaches like the Four Horsemen of the Apocalypse? In my header, Esme Washington watches from her Main Street salon as Thiel, Musk, Fink, and Trump charge down the street as symbols of an economic breakdown. These threats are intertwined because collapse will be experienced as a chain reaction. Bills and financial strain drives stress and family instability.

We Greet The New Year With Optimism

January 2, 2026 Vijay Prashad, Tricontinental Institute for Social Research. Educate! climate crisis, Economic crisis, Global South, Transformation

Are we entering the new year with anxiety or with hope? I am hopeful because in my travels I see that people around the world are disappointed with the present state of things – they want to live in a society that is not eclipsed by hunger and suffering. But I am not so optimistic as to think that dissatisfaction alone will transform this world of climate catastrophe and genocidal war into one of dignity and peace. While the feeling exists, it has not yet helped us carve a path towards something better. For decades, organisations like the United Nations Conference on Trade and Development (UNCTAD), founded in 1964, have provided empirical analyses of the suffering in our world.

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