|Saturday, February 6, 2016
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Economy

US On Road To Third World

n January 6, 2004, Senator Charles Schumer and I challenged the erroneous idea that jobs offshoring was free trade in a New York Times op-ed. Our article so astounded economists that within a few days Schumer and I were summoned to a Brookings Institution conference in Washington, DC, to explain our heresy. In the nationally televised conference, I declared that the consequence of jobs offshoring would be that the US would ...Read full article...

How to Survive a Stock Market Crash

Last week, our stock market began to freefall. By Friday, August 21, the market was down more than 1300 points. Over the course of two days, it dropped further than any single-day crash in American history. But it wasn’t just the US stock market that had a bad week. According to Zero Hedge, markets across the globe are going to heck on a greased slide: China’s worst week since ...Read full article...

Fiscal Deterioration costs Brazil another Downgrade

The negative outlook, according to S&P, reflects a 30% possibility of a further downgrade because of fiscal deterioration probability. Most Brazilians do not like Dilma Rousseff, and now, it seems that neither do investors or lending entities. It is true, rating agencies are only part of a global Ponzi scheme, however, it is their opinions about the creditworthiness of a country what determines whether that country has access to ...Read full article...

Lula, Dilma and Brazil sink deeper into the hole

WIth no clear leadership, no public confidence on the country’s institutions or its leaders, Brazil seems to be getting deeper and deeper into a political and economic hole. However, in the middle of all the mud, there is still the ocassional joke to lighten up the mood. The last one was that Luiz Inácio Lula da Silva is now considering a new presidential run in 2018. Sadly for Lula, ...Read full article...

Christiana Figueres pushes new globalist “social contract”

A popular dictate says that the only way to predict the future is by creating it, and that is exactly what powerful entities such as the United Nations and the groups that support it are doing right now. The future is not coming, it is here and if the UN has its way, that future might be the most horrible nightmare anyone could ever dreamed about. In essence, it ...Read full article...

Brazil announces investment of $66 billion to revive its economy

The plan presented by Dilma Rousseff intends to provide Brazil with highways and railways, but its success will depend on heavy investment through the BNDES. Brazilian president, Dilma Rousseff, has decided to launch a plan for major infrastructure renovation and construction across the country in an attempt to revive a plunging economy. The government’s plan will mean a preliminary investment of nearly 200,000 million reais. Dilma’s plan envisages the ...Read full article...

Latin America adrift

Not too long ago, Latin America was one of the regions with the best economic perspective on the planet. After the crisis of 2009, recovering and booming economies in the south looked for Asian partners to establish business opportunities with China, India, and even Russia. Those partnerships were established enthusiastically with the signing of new bilateral and multilateral agreements between China and individual commercial partners as well as among ...Read full article...

Paper currency becomes worthless in Venezuela

Venezuelans have begun to feel as if the cash they carry in their wallets is as valuable as Monopoly money. The local currency, the bolivar, tumbled even further this week, falling through the threshold of 400 bolivars per dollar, which is double as low as the value of the so-called Marginal System. That threshold had been established three months ago by the government in an effort to stop the ...Read full article...

Heading Toward Financial Maidan in Ukraine?

Ukraine’s economy is a sinkhole of economic Depression. It’s teetering toward collapse. Its Q I GDP plunged 17.6% year-over-year. It’s down 6.1% from Q IV 2014. Ten of the last 11 quarters saw economic contraction. Kiev depends on outside aid to keep operating. Inflation is out-of-control. The Financial Times reported it reaching 61% in April. Its hryvnia currency is headed toward becoming worthless toilet paper. It’s worth less than ...Read full article...

Senate Defeats Anti-Consumer Trade Bill Fast Track Authority

Score one for the good guys. A previous article explained so-called “trade promotion authority (TPA)” lets Obama and his trade representative, complicit with corporate predators, ram through Congress, with minimal debate, no amendments or public discussion outrageous legislation global justice advocates call NAFTA on steroids. Proposed Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) are stealth corporate coup d’etat measures – freedom and ecosystem-destroying nightmares. Corporate giants ...Read full article...

Optimism grows about the global economy

Only a liar or a banker could say he sees positive signs in the world economy. With Europe immersed in a dire economic depression, the United States ever more engaged in wars all over the world and a group of emerging markets with stagnated economies, only a member of the banking or financial industry could see the present as a good omen for the future. In contrast to reality ...Read full article...

Dilma says that Brazil’s sovereignty depends on what happens with Petrobras

Rousseff warns that corruption at Petrobras could plunge Brazil into unknown territory. As we reported yesterday, the scandal surrounding Brazil’s Petrobras could have more serious implications than damaging the reputation of a few politicians and their political parties. In the last 12 months, Petrobras has been used to corrupt public officials in Brazil and the bribery system now threatens with dragging down the Brazilian economy to a point of ...Read full article...

Germany Pre-approves Fracking

The German Council of Ministers approved a bill that allows the extraction of unconventional hydrocarbons with the technique of hydraulic fracturing. The government will allow fracking to take place beginning in 2016, and says that the process of poisoning water and soil will have “strict limits”. According to the bill, the plan to authorize the use of this system for the extraction of oil and gas will be effective ...Read full article...

Whatever Became of Economists and the American Economy

According to the official economic fairy tale, the US economy has been in recovery since June 2009. This fairy tale supports America’s image as the safe haven, an image that keeps the dollar up, the stock market up, and interest rates down. It is an image that causes the massive numbers of unemployed Americans to blame themselves and not the mishandled economy. This fairy tale survives despite the fact ...Read full article...

The Fed and ECB took West back to Aristocracy

When the former Goldman Sachs executive who runs the European Central Bank (ECB) announced that he was going to print 720 billion euros annually with which to purchase bad debts from the politically connected big banks, the euro sank and the stock market and Swiss franc shot up.  As in the US, quantitative easing (QE) serves to enrich the already rich. It has no other purpose. The well-heeled financial ...Read full article...
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