|Wednesday, May 4, 2016
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Economy

Greece strikes to oppose Tsipras’ Austerity

Even Tsipras’ own party -Syriza- is supporting the strike that affects transportation, news services and hospitals. Greece is experiencing today the first general strike under President Alexis Tsipras, at a time that creditors have returned to Athens to unblock some points of the negotiations for the disbursement of 2 billion euros of the so-called rescue and 10 billion euros for the recapitalization of the banking. Syriza, the party of ...Read full article...

The Global Economy is in Worse Shape than You Think

Saudi Arabia is sliding toward a crisis… As you likely know, the price of oil has crashed since last summer. In June 2014, oil peaked at over $106/barrel. Today, oil trades at just $44…good for a 58% decline. The oil crash has crushed oil stocks. Exxon Mobile Corporation (XOM), America’s largest oil company, has dropped 19% since July 2014. Chevron Corporation (CVX), America’s second-largest oil company, has dropped 29% ...Read full article...

Deutsche Bank cuts 35.000 Jobs in Latin America

eutsche Bank, the biggest German bank, announced yesterday what it called a major restructuring. Its new president, John Cryan, used his first press conference to present hard adjustment plans “to clean up the bank”. After taking record losses of more than 6 billion euros in the third quarter, Cryan said the bank will reduce its workforce by more than 35,000 employees in the next two years. The bank will ...Read full article...

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...
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