Finance and the Economy

Joe Biden Can’t Slap His Way Out Of His Legitimacy Crisis

April 7, 2022 Danny Haiphong, Black Agenda Report. Educate! Democrats, Finance and the Economy, Joe Biden

Biden has tried everything. He’s declared the COVID-19 pandemic over, albeit prematurely. He’s taken credit for an alleged post-pandemic economic recovery. And he’s pumped military aid into Ukraine and implemented harsh sanctions on Russia in a bid to uphold U.S. leadership over the so-called “rules-based international order.” These moves have vastly improved Biden’s favorability with the American voting public. April Fools! According to a recent poll by NBC News, just 40 percent of Americans approve of Biden’s performance as President. Much of the growing disdain for Biden surrounds the issue of the economy. Only 33 percent of respondents reported a favorable opinion of Biden’s economic policies. A staggering 62 percent of those polled said that their incomes have fallen behind the cost of living.

This War Is Actually About Central Banking

April 7, 2022 Lee Camp, Scheer Post. Resistance Report Finance and the Economy, Russia, Ukraine, US Imperialism, Wars and Militarism

There is something you aren't being told about the current cold war between the US and Russia that's icier than a witch's tit after seeing the naked body of the guy who ate Russell Crowe. And of course, the new cold war also involves a proxy war in Ukraine where Western media is telling us to root for a Jew and for the Nazis? As an anti-imperialist Jew myself, can't I be opposed to both the Russian invasion and opposed to Nazis? Is that not allowed, really? This is worse than when The Price is Right showcase showdown forced me to choose between rooting for a marine and rooting for another marine. You're trained killers. Why do you need a jet ski so bad?

The Coming Global Financial Revolution

April 5, 2022 Ellen Brown, Scheer Post. Educate! De-dollarization, Finance and the Economy, Global Economy, Oil and Gas

The first challenge by a major power to what became known as the petrodollar has come in 2022. In the month after the Ukraine conflict began, the U.S. and its European allies imposed heavy financial sanctions on Russia in response to the illegal military invasion. The Western measures included freezing nearly half of the Russian central bank’s 640 billion U.S. dollars in financial reserves, expelling several of Russia’s largest banks from the SWIFT global payment system, imposing export controls aimed at limiting Russia’s access to advanced technologies, closing down their airspace and ports to Russian planes and ships, and instituting personal sanctions against senior Russian officials and high-profile tycoons.

Sufficiency And Interdependence In The Wake Of A Degrowth Future

April 4, 2022 Jere Kuzmanić, Grassroots Economic Organizing. Organize! climate crisis, Climate Justice, Economic Justice, Finance and the Economy

Even if one didn’t have an immediate experience of disaster at the doorstep — like flood, storm or wildfire, which are happening globally on a weekly basis affecting many millions of people — we all share an experience of global surge of mutual aid during the COVID-19 pandemic. In many places, it implied a different relation to material reality such as provision of food, medics and, in peculiar cases, toilet paper. In non middle-and-up-class contexts, the pandemic increased risk of losing the roof over head or being stuck below dignifying conditions in at home. This intense period became a sharp reminder of local sufficiency, the scale of our community, and the importance of understanding a home as space that goes beyond our rented or owned four walls.

IMF Admits US Dollar Hegemony Declining

April 3, 2022 Ben Norton, Multipolarista. Educate! China, De-dollarization, Finance and the Economy, US Sanctions

The US-dominated International Monetary Fund (IMF) has acknowledged that the hegemony of the dollar is in noticeable decline. At the same time, the Chinese currency, the yuan or renminbi, is slowly growing in influence, along with other currencies, according to the IMF. In 2000, roughly 70% of global foreign exchange reserves were held in US dollars. As of 2021, that figure had fallen to just under 60%. Meanwhile, the IMF noted that there is a rise in “nontraditional currencies” from smaller countries being held in international reserves. The United States has veto power over IMF decisions, and the institution is notorious for acting as an instrument of US political influence.

Brits Hit The Streets As Anger Over Cost Of Living And P&O Sacking Erupts

April 2, 2022 Morning Star. Resist! Britain, Cost of living, Finance and the Economy, Protests

Thousands of protesters will take to the streets today to vent their anger at the soaring cost of living and the brutal sacking of 800 P&O workers. The protests come as the Insolvency Service launches criminal and civil investigations into P&O’s behavior. The People’s Assembly, a national forum campaigning against austerity since 2013, has organized demonstrations across Britain in protest at the spiraling cost-of-living crisis. In London, protesters will gather outside Downing Street from 2pm. Demonstrations will also be held in Birmingham, Bournemouth, Bristol, Cardiff, Cambridge, Coventry, Derby, Doncaster, Glasgow, Hanley, Hull, Ipswich, Lancaster, Leicester, Liverpool, Manchester, Milton Keynes, Newcastle, Peterborough, Portsmouth, Preston, Redcar, Sheffield and Southampton.

Ukraine – A Decisive Transfer Of The Balance Of Power From West To East

April 2, 2022 Cameron Leckie, Pearls and Irritations. Educate! Finance and the Economy, NATO, Russia, Sanctions, Ukraine, US Imperialism, Wars and Militarism

Most of the debate and coverage of the ongoing Russo-Ukrainian war in Australia and the Western world is decidedly banal. It is characterized by the simplification of an extremely complex situation to generate a narrative that can be summarized as Putin and Russia are evil and Ukraine is good. This gross simplification is not helpful in either understanding the causes of the war, the nature of the war, its broader implications and most importantly of all, how it can be ended with the least number of additional deaths and injuries and damage to Ukraine’s infrastructure. The preponderance of human-interest reporting of the conflict in lieu of coverage of the war itself is illustrative. The heartbreaking examples of families torn asunder along with the brave exploits of Ukrainian soldiers or allegations of war crimes by Russia, whilst important, tends to trigger an emotional response rather than provide an accurate depiction of the course of events.

US-EU Sanctions Hit Latin America’s Banana Growers

April 2, 2022 Kawsachun News. Educate! Finance and the Economy, Food and Agriculture, Latin America, Russia, Sanctions, US Imperialism

Russia is a large consumer of the Latin American banana—but western sanctions have dealt a devastating blow to farmers who can no longer get their products to market. For Ecuador, the world’s largest exporter of bananas, the setback has been disastrous. Around 25% of Ecuador’s banana exports go to Russia and 90% of all bananas consumed in Russia come from Ecuador. However, commercial ships carrying the bananas can no longer reach the port of St. Petersburg due to sanctions imposed by the US and EU. The sudden drop in demand has left producers with excess supply. Prices have collapsed as a result. Richard Salazar, Director of Arcobanec (exporters association) said that Ecuador usually exports bananas for up to $US 5.50 per box.

Meet the New, Resource-Based Global Reserve Currency

April 1, 2022 Pepe Escobar, Strategic Culture. Educate! Finance and the Economy, Global Finance, Russia, Sanctions, US Imperialism

It was something to behold. Dmitri Medvedev, former Russian President, unrepentant Atlanticist, current deputy chairman of the Russian Security Council, decided to go totally unplugged in an outburst matching the combat star turn of Mr. Khinzal that delivered palpable shock and awe all across NATOstan. Medvedev said “hellish” Western sanctions not only have failed to cripple Russia, but are instead “returning to the West like a boomerang.” Confidence in reserve currencies is “fading like the morning mist”, and ditching the US dollar and the euro is not unrealistic anymore: “The era of regional currencies is coming.” After all, he added, “no matter if they want it or not, they’ll have to negotiate a new financial order (…) And the decisive voice will then be with those countries that have a strong and advanced economy, healthy public finances and a reliable monetary system.”

National Endowment For The Arts Report On The Devastation Of The Arts

April 1, 2022 David Walsh, WSWS. Educate! Arts, COVID-19, Finance and the Economy, Performing Arts, Worker Rights and Jobs

On March 15, the National Endowment for the Arts (NEA), the US government agency that funds arts projects, released a report revealing a portion of the financial and job losses sustained by artists and arts organizations during the COVID-19 pandemic so far. The NEA study points out that between 2019 and 2020 the US “arts economy” contracted at almost twice the rate of the economy as a whole. “Arts and cultural production fell by 6.4 percent when adjusted for inflation, compared with a 3.4 [percent] decline in the overall economy.” While the arts and culture sector remained “a major contributor to the economy,” according to the NEA, “certain arts industries saw enormous declines.” The performing arts were the most affected, experiencing devastating losses in 2020 in particular.

Global Food Shortages: How Does Your Garden (Or Pantry) Grow?

March 30, 2022 Thomas Knapp, Counter Punch. Educate! Famine, Finance and the Economy, Food Access, Inflation

“President Joe Biden and other leaders of the world’s major industrialized democracies pledged action on Thursday [March 24] to address food shortages caused by Russia’s war on Ukraine,” Politico reports. Biden says food shortages “are going to be real,” although he seems to see them as an opportunity to increase US grain production and food exports rather than a real threat to Americans’ own well-being. After a year of continuing his predecessor’s “trade war” policies, Biden seems to be getting some free trade religion, which is nice, but he may be under-estimating the scope of the problem. The Russian invasion of Ukraine — and the US/EU/NATO sanctions response — doesn’t just up-end the global supply of grain crops (Russia and Ukraine are both top exporters of wheat) and other foods.

The Future We Need: Economic Democracy

March 27, 2022 Erica Smiley And Sarita Gupta, Inequality.org. Create! Democracy, Economic Democracy, Finance and the Economy, New Economy

As economists and policymakers are seeking to explain the “Great Resignation” sweeping the labor market, the traditional wage and hour issues became less important to employees than in the recent past, according to a recent report. A big takeaway from the data is that organizing people as workers is not enough. Economic democracy in the twenty-first century cannot be achieved solely within a framework focused exclusively on worksites. Rather we must explore a more expansive definition of collective bargaining that adapts to the context of global capitalism and all its features, including addressing the material and cultural needs of the modern worker—who, shockingly, does not solely identify as a worker, but sees themselves as having a diverse array of identities.

‘Crush Inflation’?: Workers, Living Standards, And The Politics Of Inflation

March 27, 2022 Sam Gindin And John Clarke, Socialist Project. Resistance Report Capitalism, Class Struggle, Finance and the Economy, Inflation

Politicians, the media, central bankers and the average worker have all been talking up the recent acceleration in the cost of living. Just a short time ago price rises of just 2% might have been considered ‘inflationary’. In the current phase of the Covid pandemic, inflation in core capitalist states, including Canada, is now running at the 5-7%, far ahead of wage settlements and bumps in income supports for welfare. Inflation always carries important consequences for workers living standards, collective bargaining and meeting basic needs for the poor. Inflation always generates class conflict, most directly and immediately over distribution but indirectly eventually over questions of power over capital and the state.

Public Banking Learning Circle

March 25, 2022 An Economy of Our Own. Create! Banking, Finance and the Economy, Public Banking

Public Banking can save the planet, close the equity gap, address systemic racism, stop funding weapons and global wars, and level the playing field for women and families. Learn more in the first series of our special and accessible workshops for women—and become a skilled advocate for economic change in your community! This is an entirely digital, small-group series of six sessions offered at a sliding scale. We'll kick off our first session on Friday, April 8th at 8pm eastern/5pm pacific. Then we'll meet together five more Fridays, at the same time (8pm eastern/5pm pacific), on April 29th, May 20th, June 10th, July 1st and July 22nd.All registration fees are donations that will fuel our work to make this information widely accessible.

Wall Street Bonuses Soar By 20%

March 24, 2022 Sarah Anderson, Inequality.org. Educate! Finance and the Economy, Wall Street, wealth inequality, Worker Rights and Jobs

Powerful Wall Street lobbyists have succeeded in blocking Section 956 of the Dodd-Frank legislation, which prohibits large financial institutions from awarding pay packages that encourage “inappropriate risks.” Regulators were supposed to implement this new rule within nine months of the law’s passage but have dragged their feet — despite widespread recognition that these bonuses encouraged the high-risk behaviors that led to the 2008 financial crisis, costing millions of Americans their homes and livelihoods. In contrast to the Wall Street lobbyists, advocates for the working poor have seen their efforts to raise the federal minimum wage and secure other important worker benefits stalled in Congress. Due to Washington inaction, millions of essential workers continue to earn poverty wages, while the reckless bonus culture is alive and well on Wall Street.

«1 2 3 4 5 6 7 8 9 10 »

assetto corsa mods

Daily movement news and resources