Inflation

Manchin Side Deal Would Fast-Track Controversial Pipeline

September 3, 2022 Olivia Rosane, EcoWatch. Educate! Inflation, Inflation Reduction Act, Joe Manchin, Mountain Valley Pipeline, Pipelines

The Inflation Reduction Act (IRA), which was signed into law by President Joe Biden on August 16, is the biggest investment the U.S. government has made to date in fighting the climate crisis. Yet in order to persuade West Virginia Senator Joe Manchin to support the landmark legislation, party leaders made a side deal with the pro-fossil-fuel Senator to pass additional legislation facilitating the permitting process for energy projects, including the controversial Mountain Valley Pipeline (MVP). The Mountain Valley Pipeline would carry fracked natural gas 303 miles through West Virginia and Virginia, according to the project website.

Strikes Across The UK As Regulator Lifts Energy Price Cap By 80%

August 29, 2022 Joe Glenton, The Canary. Resist! Energy, Inflation, Labor Unions, Strikes, United Kingdom (UK)

A new wave of strikes are underway across the UK. From postal workers to barristers, organised labour is turning out on picket lines against the backdrop of looming energy cost hikes. Workers across the UK are fighting back by withdrawing labour, sharing their experiences and, on one occasion, surfing around ports at high speed! The strikes come as Don’t Pay, which is campaigning to encourage people to refuse to pay extortionate energy bills, reported an 80% hike had been nodded through by regulator Ofgem. Don’t Pay’s East London branch also announced a protest at Canary Wharf for Saturday 27 August. Postal workers are striking as part of the Communication Workers Union over pay. Royal Mail bosses have been paying themselves massive bonuses, even as the cost of living crisis has ramped up

Dockers At England’s Largest Cargo Port Strike Against Inflation

August 22, 2022 Joël Malo, Left Voice. Resist! Dock Workers, Inflation, Strikes, United Kingdom (UK), Worker Rights and Jobs

Things are heating up in the United Kingdom’s “summer of discontent” — the name that’s been given to the wave of strikes against falling wages resulting from inflation. London’s public transit network is paralyzed, and across the country only one train in five is running. Massive strikes in the transportation sector are playing out as walkouts —sometimes wildcat ones — erupting at refineries and Amazon facilities. Meanwhile, a growing number of unions in other sectors are voting to authorize strikes. The English bourgeois press reports that inflation is 10.1 percent (the same figure the French press reports), but that’s just what the bosses say. It doesn’t account for rent increases; adding rents, one of the key costs for the working class, inflation has hit 12.4 percent in August. And as prices rise, so too does the general combativeness of workers and the will to strike.

Argentinian Unions Mobilize Against Runaway Inflation

August 22, 2022 Kawsachun News. Resist! Argentina, Finance and the Economy, Inflation, Mass Action

August 18 - Argentinian unions and social movements are marching today towards the National Congress to protest against runaway inflation and ‘speculators’. The march has been organized by the two largest union confederations; CGT and CTA. Their joint statement said; “Our country demands firm commitments to mitigate the social injustice that is suffocating us today (..) political actors must abandon petty electoral confrontation for the benefit of individual interests. Inflation has reached intolerable levels and is pulverizing the purchasing power of workers.” Sergio Palazzo, lawmaker for the ruling Frente de Todos (Front for All’) has backed the march and stated that “the intolerable action of the financial corporations have threatened the food rights of millions of Argentinians as well as the process of reactivating the productive economy”.

Why The Inflation Reduction Act Is Less A ‘Climate Bill’

August 20, 2022 Anthony Rogers-Wright, Black Agenda Report. Educate! climate crisis, Climate Justice, Finance and the Economy, Inflation, Inflation Reduction Act

The brother El Hajj Malik El Shabazz (aka Malcolm X) once explained, “If you’re not careful, the newspapers will have you hating the people who are being oppressed and loving the people who are doing the oppressing.” The tale of two narratives associated with the recent signing into law of the so-called Inflation Reduction Act (IRA) accentuates his words at a critical moment. Communities on the frontlines of the climate crisis find themselves entrapped in a cycle of climate cataclysms and cumulative pollution derived from legacy and systemic environmental racism and classism. While attending a meeting in Bogota, Colombia with the newly elected Vice President, Francia Marquez, one of her advisors expressed to me that she was questioning why the demographics of those celebrating passage of a bill purported to address the climate crisis don’t match the demographics of those most impacted by the crisis?

Is The US Inflation Reduction Act A Case Of Too Little Too Late?

August 14, 2022 People's Dispatch. Resistance Report Finance and the Economy, Inflation, Inflation Reduction Act

Eugene Puryear of BreakThrough News analyzes the recently passed Inflation Reduction Act which seeks to address inflation, climate change, and healthcare. The US Senate (and subsequently the House of Representatives) passed the Inflation Reduction Act that seeks to tackle issues of inflation, climate change and health care. Will the provisions in the law actually help address these issues? Will the Democrats gain an electoral advantage in the October mid-terms due to this law? Eugene Puryear of BreakThrough News explains.

NDN Collective Responds To House Passing Inflation Reduction Act

August 14, 2022 NDN Collective. Educate! Finance and the Economy, Frontline Community, Inflation, Inflation Reduction Act

Rapid City, South Dakota – In response to today’s news that the House of Representatives passed the Inflation Reduction Act of 2022, NDN Collective released the following statement: “To say this moment is bittersweet is an understatement,” said Jade Begay, climate justice director at NDN Collective. “On one hand, the IRA – which puts us on track to meet national climate goals by 2030 and will provide much-needed support around health care, jobs, and infrastructure – was only made possible by the tireless organizing of frontline and Indigenous communities, young people, and climate justice advocates. On the other hand, the IRA dismisses fundamental, decades-long demands by Indigenous, Black, Brown, and low income communities to end fossil fuel expansion and invest in a just transition to renewable energy."

Germany: Port Strike And Inflation Fight Pose The Question Of Strategy

August 2, 2022 Stefan Schneider, Left Voice. Strategize! Germany, Inflation, Ports, Worker Rights and Jobs

Two weeks ago, thousands of dockworkers in the ports of northern Germany went on strike for the third time in just a few weeks. The 48-hour strike for wages that would cover the real inflation being felt by these workers was the longest work stoppage in the ports in more than 40 years — reason enough for the bosses in the port, and beyond, to tremble with fear for their profits and attack the right to strike. Some 17 injunctions have been sought in labor courts to stop the strike. Rainer Dulger, president of the Confederation of German Employers’ Associations (BDA), went so far as to call for declaring a “national emergency” to make it easier to break strikes in the future. Even though the leadership of the ver.di union1 denounced these attacks, it ultimately accepted an out-of-court settlement in Hamburg that ruled out further strikes until August 26.

Interest Rate Hikes Will Not Save Us From Inflation

July 28, 2022 Ellen Brown, Scheer Post. Educate! Federal Reserve, Finance and the Economy, Inflation, Public Banking

In prescribing cures for inflation, economists rely on the diagnosis of Nobel laureate Milton Friedman: inflation is always and everywhere a monetary phenomenon—too much money chasing too few goods. But that equation has three variables: too much money (“demand”) chasing (the “velocity” of spending) too few goods (“supply”). And “orthodox” economists, from Lawrence Summers to the Federal Reserve, seem to be focusing only on the “demand” variable. The Fed’s prescription is to suppress demand (borrowing and spending) by raising interest rates. Summers, a former U.S. Treasury Secretary who presided over the massive post-2008 bank bailouts, is proposing to reduce demand by raising taxes or raising unemployment rates, reducing disposable income and thus people’s ability to spend.

Panamanian Trade Unions Reach Agreement With Government

July 27, 2022 People's Dispatch. Resist! Inflation, Mass Action, Panama, Victory

After three weeks of national strike and nationwide demonstrations and roadblocks in protest against the cost of living crisis in Panama, the right-wing government of President Laurentino Cortizo was forced to engage in negotiations with the organizations behind the protests in Penonomé on July 21. On July 24, the fourth day of negotiations, representatives from various popular movements and social organizations, which have been mobilizing across the country since July 1, reached the first agreement with the government. The leaders of the People United for Life Alliance from the capital Panama City, the National Alliance for the Rights of the Organized People (ANADEPO) from Veraguas, and the Indigenous organizations from the Ngäbe Buglé region, the three organizers of the ongoing national strike, succeeded in convincing the national government to reduce the cost of essential commodities by 30%.

Does Economic Pain Mean NATO And The West Cut Ukraine Loose?

July 26, 2022 Daniel Davis, 19 Forty Five. Educate! Inflation, Russia, Ukraine, Wars and Militarism

Last Wednesday at the Aspen Security Forum, CIA Director William Burns argued that “Putin’s view of Americans is that we always suffer from attention deficit disorder, and we’ll get distracted by something else.” Burns thinks that Putin is wrong. But he might miss what Vladimir Putin actually thinks. The Russian president may not be banking on Americans simply getting distracted, but on U.S. and European populations focusing on a broader picture, favoring their own national interests and measuring the domestic pain caused by Western support for Ukraine’s war effort. If civil displeasure rises to sufficient levels, political support for Kyiv could rapidly evaporate in Western capitals. The chances of that happening are higher than many believe. This analysis is the third in a series of assessments of potential outcomes of the war between Russia and Ukraine.

Panama: Government And Protesters Resume Dialogue With Little Progress

July 24, 2022 Orinoco Tribune. Resist! Inflation, Mass Action, Neoliberalism, Panama

Dialogue between government and protesters in Panama continued for the second day on July 22, discussing the cost of the basic food basket, one of the main causes of the protests that have rocked the country over the past three weeks. The protest leaders proposed a reduction of 30% of prices of the items of the basic food basket, while the government proposed a 15% cut, as well as including 17 more products in the price control scheme. This would take the list to a total of 35 products. There was also a discussion for creating a committee on price control to follow up on the issue. Government representatives said that, in any case, the responsibility to ensure these issues would fall on the authority for consumer protection and defense of competition (ACODECO). Meanwhile, posts and videos circulating on social media show empty shelves in supermarkets and grocery stores.

Negotiations Underway In Panama As National Mobilizations Continue

July 20, 2022 People's Dispatch. Resist! Economic crisis, Inflation, Mass Action, Panama

After more than two weeks of mobilizations and strikes and several attempts by the national government to fragment the movement, the people of Panama continue their struggle to demand immediate solutions to the cost of living crisis. On July 19, the People United for Life Alliance announced that it would partake in dialogues mediated by the Catholic Church. The organizations part of the Alliance which drafted the list of 32 demands for the national government and organized the series of national mobilizations that began on July 1, have in the meanwhile continued their nationwide protests. On July 18 and 19, thousands mobilized in cities and towns across Panama, maintaining road blockades and organizing pickets outside public institutions.

Energy: The Recession Trigger?

July 17, 2022 Michael Roberts, Labour Outlook. Educate! Finance and the Economy, Inflation, Recession, Worker Rights and Jobs

There is confusion among mainstream economists and policy-makers on whether the major economies are heading for a recession, or are already in a recession; or will avoid one altogether. The majority view, at least in the US, is the latter. This optimistic view argues that, while inflation rates are high, they will start to fall over the next year, enabling the Federal Reserve to avoid hiking its policy interest rates too much to the point where it could restrict investment and spending. At the same time, the US unemployment rate is very low and the ‘labour market’ remains strong. Such a scenario hardly suggests a recession. Who ever heard of a slump where there is full employment?, the argument goes. On the other hand, the pessimistic view is that the major economies are already in a slump that will be eventually recognised.

Purchasing Power Of Workers’ Wages Take Biggest Tumble In 40 Years

July 16, 2022 Masao Suzuki, Fight Back News. Educate! California, Inflation, Wages, Worker Rights and Jobs

San José, California - Real earnings, or workers’ wages after adjusting for inflation, had their biggest drop in 40 years last month, as prices continued to rise faster than paychecks. Real average weekly earnings, which best reflect workers’ paychecks after adjusting for changes in wages, prices and hours worked, fell 1% in June of 2022 according to the U.S. Bureau of Labor Statistics. Over the last year, real average weekly earnings fell 3.9% as inflation outpaced pay raises and average weekly hours fell by almost an hour. Prices paid by production and non-supervisory workers (the CPI-W) rose 9.7% as compared to June 2021, a 40-year high. This is even higher than the 9.1% for the headline Consumer Price Index for all urban consumers (CPI-U) which also hit a 40-year high. This CPI includes prices for goods and services bought by professionals, supervisors and managers, and businesspeople, as well as workers.

«1 2 3 4 5 6 7 8 9 »

assetto corsa mods

Daily movement news and resources