Finance and the Economy

Ever Wonder Who “They” Are? We Name Names And Explain How The Global Elites Operate

October 8, 2018 Margaret Flowers and Kevin Zeese, Clearing the FOG. Podcast Finance and the Economy, Power Elites, wealth inequality

In 2017, eight men controlled half of the world's wealth and 70% of the world controls 5% of the wealth. Global elites, the 1%, are consolidating their fortunes without regard for the remaining 99% or the welfare of the planet. It is important to understand how this small number of people control the world and who they are so that we know what we're up against and whom to hold accountable. We speak with Peter Phillips, author of "Giants: The Global Power Elite," about his decades of work tracking the power holders and what we do to create a more just and sustainable world.

Global De-Dollarization Spells Jolts And Crises For US Economy

October 2, 2018 By Jon Jeter, Mintpressnews.com Educate! Finance and the Economy, Inter-Imperialist Rivalry, New Economy

BEIJING — In January, President Donald Trump took to Twitter to denounce Pakistan’s commitment to fighting terrorism. Twenty-four hours later, Pakistan’s central bank announced that it no longer would use the U.S. dollar in international transactions, and would instead switch to the Chinese yuan. Four months later, in response to the Trump Administration’s withdrawal from the United States’ nuclear weapons pact with Iran, the European Union announced that it would use its own currency, the euro, to pay for Iranian crude oil. Earlier this month, Moscow and Beijing announced a plan to use their own national currencies in bilateral trade. Russian President Vladimir Putin told reporters that the move would “increase the stability of banks’ servicing of export and import operations while there are ongoing risks on global markets.”

A Case For Giving Everyone A Share Of Public Wealth

September 30, 2018 Jim Pugh, In These Times. Create! Democracy, Finance and the Economy, Guaranteed basic income, New Economy

In late August, the People’s Policy Project, a left-wing think tank run by economist and writer Matt Bruenig, released a proposal for the creation of a social wealth fund in the United States. Dubbed the American Solidarity Fund, the idea behind the proposal is to establish a pool of shared, public wealth that would be invested in the same way that private wealth is. Under this plan, every American adult would own a single “share” of the fund, and while no single person would be able to withdraw their share, they would receive regular universal dividend payments from returns on investments.

A Greedy Economy On Borrowed Time: America Under The Sword Of Damocles

September 29, 2018 Jon Jeter, Mintpressnews.com Educate! Crisis, Finance and the Economy

NEW YORK — On the afternoon of December 31, 1999, I boarded a flight from Chicago O’Hare airport for San Francisco International and found myself seated next to a bear of a man, who, at 6 feet 6 inches tall, and more than 300 pounds, squeezed into the middle seat of an emergency row. His unkempt sandy blonde beard contrasted with a ratty, tent-sized red plaid shirt. As we hit cruising altitude, he introduced himself as “Gary” and began to tell me his life’s story. He’d run with a wild crowd in Illinois, smoked way too much meth, gotten locked up, then released, locked up again, released a second time. With the help of a good woman, he said, he finally kicked his drug habit — though he’d gained nearly 100 pounds in the process — and decided a change-of-scenery would do him good. Hence, he was relocating to the backwoods of northern California.

Unions Bring Argentina to a Standstill As Macri Meets Bankers

September 28, 2018 Telesur. Resist! Argentina, Austerity, Finance and the Economy, Labor

On Tuesday at midnight, Argentina’s General Confederation of Workers (CGT) began its 24-hour general strike against Mauricio Macri’s austerity policies. On Monday, the Argentine Workers’ Central Union (CTA) launched a parallel 36-hour strike with the support of several smaller unions, neighborhood associations, and social movements to reject the government’s social and economic policies. Macri has faced massive protests and four national strikes. In June, shortly after the government agreed on a US$50 billion emergency loan with the International Monetary Fund (IMF), the CGT and several other unions paralyzed the country to reject the agreement and the austerity measures that accompany IMF loans.

US Sanctions Reach A Turning Point. De-Dollarization And Collusion Against The U.S.

September 22, 2018 By Karsten Riise, Globalresearch.ca Educate! Finance and the Economy, Inter-Imperialist Rivalry, Sanctions

Up till now, the EU – representing around the same percentage of the world economy as the USA – was sitting put, as the USA grew its sanctions regime to ever more bizarre proportions. Together, the USA and the EU constituted nearly half of the world’s economy, and US sanctions previously “only” used to target the other half of the world’s economies. Hitherto, the EU had no compelling reasons to strain its relations with the USA because US sanctions do not affect them. But now, “secondary sanctions” regarding Iran also hit hard at strategic EU companies and financial institutions and negatively affect EU global strategic interests in energy from the Persian Gulf, US sanctions in effect attack the liberty, security and sovereignty of its biggest group of friends, the EU.

Does The United States Have A ‘Strong’ Economy?

September 20, 2018 By Sam Pizzigati, Inequality.org Educate! Finance and the Economy, United States

Long-time Republican Party political strategists are having fits. If only we could get average Americans to focus in on the economy instead of The Donald, they’re telling all comers, the GOP would do just fine in the upcoming November midterm elections. Those Republican strategists should be careful what they wish for. Getting average Americans to focus in on the economy ought to be the last thing in the world they want voters to do. That economy is doing average Americans no favors. And now we have some powerful new evidence to that effect, from data-rich reports just released by the Census Bureau and one of America’s top independent analysts of household well-being, the Pew Research Center. Both sets of researchers tell the same story: Average Americans have no reason to be celebrating our contemporary economy.

Surviving In A Post-Crash Economy

September 18, 2018 Margaret Flowers and Kevin Zeese, Clearing the FOG. Podcast 2008 crash, Cooperatives, Finance and the Economy, Internet

The current generation is the first one in history that will have a lower standard of living than its predecessors and a shorter life expectancy. In the aftermath of the 2008 financial crash, where there are more people in part-time jobs with lower wages, fewer benefits and massive debt, people are forced to find ways to make a living. In his new book, "Everything for Everyone: The Radical Traditions that are Shaping the New Economy," Nathan Schneider explains how his generation is incorporating old traditions, such as worker ownership, with new technology...

The Crisis Of Global Capitalism Never Really Ended

September 16, 2018 Jerome Roos, Roar Magazine. Educate! Capitalism, Finance and the Economy, New Economy, Occupy

This weekend marks the tenth anniversary of the collapse of Lehman Brothers, the once-mighty US investment bank whose dramatic bankruptcy on September 15, 2008 unleashed the worst financial crisis since the Great Depression of the 1930s. At this point, it is still far too early to tell whether this emerging anti-capitalist politics of the twenty-first century will be able to succeed in the face of a powerful nationalist backlash. But if the dramatic events since 2016 are anything to go by, the political fallout of the global financial crisis is only just getting started. The real confrontation, it seems, is yet to come.

So, You Want To End Capitalism? Here’s How.

September 10, 2018 Margaret Flowers and Kevin Zeese, Clearing the FOG Radio. Podcast Capitalism, Finance and the Economy, Solidarity Economy

There is a rising awareness that capitalism is at the root of many of the crises that we face, from the economy to the environment and climate change to the absence of democracy. We need to end capitalism to solve these crises. We speak with Emily Kawano, coordinator of the United States Solidarity Economy Network, about how we are changing the economy right now, what the end of capitalism (as a dominant part of the economy) would look like and how to answer those who worry that it can't or shouldn't be done. Plus, we cover current news.

Billionaires Plan Escape From Apocalypse

September 9, 2018 By Robert Hunziker, Counterpunch Educate! Finance and the Economy, Inequality, oligarchy

What’s with capitalism/capitalists? As soon as things turn sour, they turn south with tails between their legs and hightail it out of Dodge. However, they feast on and love steady, easy, orderly avenues (markets) to riches, but as soon as things heat up a bit, they turn tail and run. History proves it time and again, for example, FDR rescued capitalism, literally rescued it, from certain demise by instituting social welfare programs for all of the citizens as capitalists fled and/or jumped off buildings. Then during the 2008 financial meltdown capitalists were found curled up in the corners of rooms as all hell broke lose.

United States Blocks Inter-Korean Railway Project

September 5, 2018 Zoom In Korea, Popular Resistance. Educate! Finance and the Economy, Korea, Transportation, US Empire

The UN Command, headed by the United States, refused to allow a South Korean train to travel to North Korea for a joint North-South inspection of railway conditions for the planned inter-Korean railway. The two Koreas had planned for a South Korean train to depart from Seoul Station and travel to Sinuiju at the far northern end of the Gyeongui (Seoul-Sinuiju) railway line in North Korea, with South and North Korea conducting a joint inspection on the North Korean stretch of the line between Kaesong and Sinuiju.

Growing Despair Amidst Insecure Economic Recovery

September 2, 2018 David Rosen, Counterpunch. Educate! Finance and the Economy, health, Jobs, Trump

It’s now almost a decade since the last fiscal crisis, launching what was dubbed the “Great Recession.” It wreaked havoc on the U.S. banking system and the housing market, leaving millions of Americans is desperate free-fall. While many conventional economic indicators suggest that the economy has rebounded, a significant portion of the American public feel stuck, their futures looking bleak. On August 6th, Pres. Trump tweeted, “Great financial numbers being announced on an almost daily basis. Economy has never been better, jobs at best point in history.”

Meet The 1%: “Giants: The Global Power Elite”

August 26, 2018 Marc Eliot Stein, World Beyond War. Educate! Finance and the Economy, Globalization, Governance, Power Elites

Peter Phillips, professor of Political Sociology at Sonoma State University and media researcher for Project Censored and Media Freedom Foundation, presented a summary of his groundbreaking new book “Giants: The Global Power Elite” last week at Fordham University’s campus in Manhattan. This was an information-packed session that explained the unique purpose of this new book: exposing to public view the private workings of the influential investment partnerships, global councils, think tanks, consortiums and other non-governmental organizations that...

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