Inflation

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.

‘World’s First Library Farm:’ Home To Gardens And Community Innovations

July 15, 2022 Chad Small, Resilience. Create! Community, Food and Agriculture, Food Sovereignty, Inflation, Innovation, Library

With food costs at near-record prices, the idea of growing your own food has never been so attractive. But food production requires space, and space can be a precious commodity — even a rarity — for people who live in urban areas. For decades, communities in cities around the U.S. have created urban farms and gardens. These spaces make use of empty lots to grow low-cost produce or flowers for communities. These urban farms are not always in high-profile or easily accessible places, however. But, what if your urban farm was in a central location? Perhaps your local library? The Cicero Branch of the Northern Onondaga Public Library (NOPL) in Upstate New York has explored precisely this question. In 2011, they created the Library Farm — partly the brainchild of Meg Backus, then the adult programming director and public relations coordinator.

Real Debt Trap: Sri Lanka Owes Vast Majority To West, Not China

July 14, 2022 Ben Norton, Multipolarista. Educate! China, Debt, Inflation, Sri Lanka

This July, Sri Lanka’s government was forced to resign, after hundreds of thousands of protesters stormed public buildings, setting some on fire, while also occupying the homes of the country’s leaders. The protests were driven by skyrocketing rates of inflation, as well as rampant corruption and widespread shortages of fuel, food, and medicine – a product of the country’s inability to pay for imports. In May, Sri Lanka defaulted on its debt. In June, it tried to negotiate another structural adjustment program with the US-dominated International Monetary Fund (IMF). This would have been Sri Lanka’s 17th IMF bailout, but the talks ended without a deal. By July, Sri Lankan Prime Minister Ranil Wickremesinghe publicly admitted that his government was “bankrupt.”

After Ecuadorians, Panamanians Say No More Pillaging

July 11, 2022 Gustavo A. Maranges, Resumen English. Resist! Inflation, Mass Action, Neoliberalism, Panama

The situation in Panama is becoming increasingly tense as more people join in what has become a permanent strike expressed in street protests. During the last few weeks, there have been several strikes in the transportation sector, especially in agricultural transportation, but the government has not offered any solutions to the demands so far. The lack of response has generated growing discontent, and since last Thursday, teachers have joined the transport workers declaring a permanent strike, paralyzing a large part of the country’s economic activity.

Thousands Of Portuguese Workers Rally Against Inflation

July 11, 2022 Fight Back News. Resist! Inflation, Mass Action, Portugal, Worker Rights and Jobs

Lisbon, Portugal - Thousands of Portuguese workers marched July 7 to condemn inflation and stagnant wages. People traveled from across the country to gather in Lisbon, the capital city of Portugal. Many traveled by train from Porto, the biggest city in the northern region of Portugal, where the train departed from Campanhã Train Station with around 800 protesters aboard. The thousands converged on Marqués de Pombal Park in Lisbon then marched to the Portuguese parliament.

Inflation And Your Next Union Contract

July 10, 2022 Samir Sonti, Select. Organize! Finance and the Economy, Inflation, Unions, Worker Rights and Jobs

We can’t predict what is to come, but the evidence from the past year hasn’t been good for workers. The Consumer Price Index rose by more than 8 percent, its fastest pace in 40 years. Essential expenses like housing, food, and gas have climbed especially fast. Despite all the talk of labor shortages and a tight job market, wages have not kept pace with the cost of living. Since April 2021, inflation-adjusted hourly earnings have fallen by more than 2 percent. Any stimulus savings that people had accrued have largely dried up by now, and there is currently no plan for federal relief for working people facing the affordability crisis posed by historic inflation rates.

Dutch Farmer Protests Inspire More Actions Amid Food Shortages

July 8, 2022 Margaret Flowers, Popular Resistance. Resist! climate crisis, Farmers, Food and Agriculture, Inflation

Dutch farmers are blocking roads, airports and food distribution centers in an effort to shut their country down. These actions are in response to climate laws designed to lower nitrogen levels that will result in putting farms out of business and underscore why addressing the climate crisis requires a just transition for displaced workers. Farmers want the government to know that without farmers, there won't be food. The protests are now spreading to more countries. They are occurring as inflation hit double digits in June, especially for food and fuel, and food shortages are expected this fall.

Spanish Lawmaker: NATO Subordinates Europe To US

July 5, 2022 Benjamin Norton, Multipolarista. Educate! Austerity, China, Inflation, NATO, Spain, Wars and Militarism

A Spanish lawmaker has condemned the NATO summit that was held in Madrid this June, denouncing the US-led military alliance for advocating for more war and pushing to enrich the weapons industry while Europeans suffer from inflation and an energy crisis. On the floor of Spain’s parliament, leftist Deputy Gerardo Pisarello argued that “the NATO summit was not organized to strengthen the cause of peace,” but rather “was organized basically to reinforce the geostrategic priorities of the United States… above all to weaken China.”

Economist Michael Hudson On Inflation And Fed Plan To Cut Wages

July 1, 2022 Ben Norton, Multipolarista. Resistance Report Class Struggle, Depression, Finance and the Economy, Inflation

Hey, everyone, this is Ben Norton, and you are watching or listening to the Multipolarista podcast. I am always privileged to be joined by one of my favorite guests, Michael Hudson, one of the greatest economists living today. We’re going to be talking about the inflation crisis. This is a crisis around the world, but especially in the United States, where inflation has been at over 8%. And it has caused a lot of political problems. It’s very likely going to cause the defeat, among other factors, of the Democrats in the mid-term elections in November. And we’ve seen that the response of the US government and top economists in the United States is basically to blame inflation on wages, on low levels of unemployment and on working people.

Ecuador: Indigenous Groups Lead National Rebellion Over Inflation

June 30, 2022 Abayomi Azikiwe, Popular Resistance. Resist! Colombia, Ecuador, Inflation, Neoliberalism

An alliance of Indigenous organizations in Ecuador have held daily demonstrations after sharp increases in the costs for fuel and food. The Confederation of Indigenous Nationalities of Ecuador (CONAIE) began their general strike actions on June 13 after huge price hikes crippled the capacity of rural and urban communities to access transportation and food for their households. In response to the demonstrations and an assortment of other forms of resistance, President Guillermo Lasso has declared a state of emergency in several provinces of the South American state. The order reads in part that: "To declare a state of exception due to serious internal commotion in the provinces of Azuay (south), Imbabura (north), Sucumbios (east) and Orellana (east).”

British Rail Workers Lead Fight Against Cost Of Living Crisis

June 26, 2022 People's Dispatch. Resist! Inflation, United Kingdom (UK), Worker Rights, Working Class

As working class sections and low income households in the UK are suffering from the ongoing cost of living crisis, rail workers are organizing a massive mobilization against proposed austerity measures and job cuts. Over 50,000 rail workers of 13 train operating companies and the London Tube began a strike action on Tuesday, June 21, under the leadership of the National Union of Rail, Maritime and Transport Workers (RMT) demanding higher wages at par with the soaring inflation and protesting against the job cuts that will result from the austerity policies proposed by the authorities. The strike continued on Thursday, June 23, and the workers will again go on strike on Saturday, June 25.

«1 2 3 4 5 6 7 8 »

Daily movement news and resources