Finance and the Economy

An Economic Recovery Program—Theirs vs. Mine

March 20, 2020 Jack Rasmus, Zcomm.org Create! Coronavirus COVID-19, Finance and the Economy

The Coronavirus has been wrecking the US and global economies. While focus has been on addressing the biological devastation wrought by the virus, the economic devastation keeps growing. Failure to properly address the deepening economic impact of the coronavirus has been no less shocking to date than the obvious failure of politicians...

Some Economic Responses To The Coronavirus Recession

March 17, 2020 Matt Bruenig, Peoplespolicyproject.org Create! Coronavirus, COVID-19, Finance and the Economy, Recession

In a normal recession, the proper goal of a policy response is pretty simple: increase output and employment by directly or indirectly increasing aggregate demand. Many proposed responses to this recession have fallen into this typical model. But, strictly speaking, this model does not really make sense for our current situation.

Coronavirus Exposes The Cracks In Globalization

March 14, 2020 By Marshall Auerback, Independent Media Institute Educate! Coronavirus, COVID-19, Finance and the Economy

The coronavirus will eventually pass, but the same cannot be said for the Panglossian phenomenon known as “globalization.” Stripped of the romantic notion of a global village, the ugly process we’ve experienced over the past 40 years has been a case of governmental institutions being eclipsed by multinational corporations, acting to maximize profit in support of shareholders.

Global Financial Asset Deflation Underway: Prelude to Next ‘Great Recession’?

March 13, 2020 Staff, Jackrasmus.com Educate! Coronavirus, Finance and the Economy, Recession

This morning, Monday, March 9, financial asset markets continue to implode: US stocks are further collapsing -6% (Dow down 1650, Nasdaq >500 mid-day). Ditto Asian and Europe stock markets -6%. They were already declining sharply last week due to coronavirus induced supply chain shocks (reducing production) and expanding demand shocks (consumer spending contraction in select industries like travel, hotels, entertainment)...

Financial Meltdown: The Impending Credit Crunch; The Next Shoe To Drop?

March 13, 2020 Mike Whitney, Informationclearinghouse.info Educate! Coronavirus, COVID-19, Finance and the Economy

Investors perception of the Fed’s role in fueling rallies, micromanaging the markets and providing a safety-net whenever stocks fall, has reached a critical tipping point. For the last decade, the Central Bank’s low rates, endless liquidity and frequent interventions have conditioned investors to ignore fundamentals and, instead, base their decisions on the Fed’s accommodative policy.

Twenty Top Economists Conclude Medicare For All Saves Money And Lives

March 13, 2020 Staff, Hopbrook-institute.org Create! Finance and the Economy, Health Care, Medicare

We are economists interested in public policy and healthcare. Some of us have worked to estimate the cost of alternative healthcare programs. Others have reviewed such estimates. We believe the available research supports the conclusion that a program of Medicare for All (M4A) could be considerably less expensive than the current system...

Global Financial Asset Deflation Underway: Prelude To Next ‘Great Recession’?

March 12, 2020 Jack Rasmus, Informationclearinghouse.info Educate! Finance and the Economy, Recession

March 10, 2020 "Information Clearing House" - Monday, March 9, financial asset markets continue to implode: US stocks are further collapsing -6% (Dow down 1650, Nasdaq >500 mid-day). Ditto Asian and Europe stock markets -6%. They were already declining sharply last week due to coronavirus induced supply chain shocks ...

Is The U.S. Fracking Boom Based On Fraud?

March 9, 2020 Justin Mikulka, Desmogblog.com Educate! Finance and the Economy, Fracking, Fraud

In a 2016 interview with Fraud Magazine, former Enron CFO Andrew Fastow explained what he thought made him so successful while at the former energy corporation that's now infamous for financial scandal. “I think my ability to do structured financing, to finance things off-balance sheet and to find ways to manipulate financial statements — there's no nice way to say it. Like I said at the conference, I was good at finding loopholes.”

Maine: Medical Cannabis Is Now State’s Third Largest Economic Market

March 7, 2020 Staff, Norml.org Create! Finance and the Economy, Maine, Marijuana

Augusta, Maine: Patients purchased an estimated $112 million worth of medical cannabis-related products in 2019, according to newly released Maine tax data. The annual revenues related to medical cannabis are more than the total revenues generated by the sales of blueberries, maple syrup, apples, herring, and oysters combined.

Fragile Safety Net Leaves U.S. Economy Vulnerable To Coronavirus Hit

March 6, 2020 By Jonnelle Marte and Heather Timmons, Reuters.com Educate! Coronavirus, COVID-19, Finance and the Economy, Health Care

NEW YORK/WASHINGTON (Reuters) - The spreading coronavirus outbreak poses a double-barreled threat to U.S. workers who face not only the prospect of lost wages if they are forced to stay home during a quarantine but also a fragile safety net to fall back on during such a crisis.

African Countries Aren’t Borrowing Too Much: They’re Paying Too Much For Debt

March 3, 2020 Misheck Mutize, Theconversation.com Educate! Africa, Debt, Finance and the Economy

There is renewed concern about the sustainability of rising debt levels in many African countries. Much of this debt is being incurred through foreign currency denominated Eurobonds issued on international financial markets. The total value of Eurobonds issued between 2018 and 2019 was more than the value of all bonds sold between 2003 to 2016.

Does This Economy Work For Black Americans?

February 28, 2020 Jamie Buell, Dedrick Asante-Muhammad, Otherwords.org Educate! Black Working Class, Finance and the Economy

Unemployment is down for many black Americans, and wages are up -- but the wealth gap remains. It could be easy to miss with the headlines focused on other things, but this February — like every February — was Black History Month. Though it’s a time to celebrate the achievements of black Americans, it’s also a time to look at the challenges facing the community.

10 Resources On Black Liberation & Economic Democracy

February 27, 2020 Staff, Geo.coop Educate! Democracy, Finance and the Economy, Racism

These are long-standing political movements and traditions that ground us. Our work and the work of our peers and partners around the US and across the Americas and the globe have long roots in generations and centuries of freedom and labor struggle. From reconstruction to the March for Jobs and Freedom a century later, we continue to live in the shadow of a system in which “something of slavery remains, and something of freedom is yet to come”.

State Of Power 2020

February 6, 2020 Staff, Tni.org Educate! Corporations, Finance and the Economy

The Corporation is capitalism's preeminent institution, dominating our economy, distorting our politics and reshaping society. TNI's ninth flagship State of Power report delves deep into the changing nature of the corporation in a time of digitalisation and financialisation and asks how we might best confront its power and construct alternatives.

2020 Edelman Trust Barometer

January 28, 2020 Staff, Edelman.com Educate! Finance and the Economy, Inequality

The 2020 Edelman Trust Barometer reveals that despite a strong global economy and near full employment, none of the four societal institutions that the study measures—government, business, NGOs and media—is trusted. The cause of this paradox can be found in people’s fears about the future and their role in it, which are a wake-up call for our institutions to embrace a new way of effectively building trust: balancing competence with ethical behavior.

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