Economy

Compound Individual, Public and Corporate debt total 225% of global GDP

John Maynard Keynes once said, “if I owe you a pound, I have a problem; but if I owe you a million, the problem is yours.” Keynes’ reasoning seems to be the guide being followed by global corporations. When the global debt bomb explodes, corporations, including banks, will not have enough cash in hand to pay back investments. The previous description regarding the future of the global debt problem ...Read full article...

US Financial War on Venezuela

US plot makes it impossible for Venezuela to pay its foreign debt. Sanctions prevent the government from accessing its state-owned CITGO refiner. ichael Hudson explained that Washington “treat(s) Venezuela as an extension of the US economy, running a trade surplus in oil to spend in the United States or transfer its savings to US banks.” Sanctions prevent Maduro’s government “from gaining access to its US bank deposits,” including ...Read full article...

Does Wall Street Finance the Battle against Neoliberalism?

Today, I read an interesting article referring to Mexico on how neoliberal economists through the application of “strong IMF economic medicine” contributed to “wreaking havoc” on the global poor while “protecting the financial elites”. And then I arrived at the foot of the article published by Alternet: “This article was produced by Globetrotter, a project of the Independent Media Institute”. The Independent Media Institute, a tax-exempt charitable foundation supported by ...Read full article...

The business of ‘curing’ cancer is booming

Mergers and acquisitions concentrate the power of pharmaceutical companies and their monopoly on new treatments. The fight against cancer has become the main business area of pharmaceutical companies, which in 2017 earned more than 96 billion euros with the sale of supposed cancer treatments. The rush to offer the newest ‘miraculous’ solution to treat cancer also prompted companies to look for profitable mergers and acquisitions to dominate the market. ...Read full article...

Costa Rica’s Fiscal Death Trap

By Sofía Guillén Economist In July, Labor Unions in Costa Rica presented the President a proposal for an alternative fiscal reform. The first contact was held at the Presidential House. I was there and helped build the delivered text. They were initiatives to start the dialogue. The proposal had 2 parts: PART 1. Changes on tax evasion and tax fraud, suggestions to fight corruption, tax reform that would help ...Read full article...

China’s Silk Road to becoming a Global Empire

The President of the People’s Republic of China, Xi Jinping, has devised a renewed trade route by land and sea that reaches Mongolia and Russia; Central Asia and Pakistan; Myanmar, Bangladesh and India; To South-East Asia, but also to South Korea and Japan; The Persian Gulf, the Middle East, North Africa and the European Union. The new Silk Road is already presumed to be “the first source of infrastructural ...Read full article...

Financial Warfare and the Float of China’s Yuan

In recent developments, the Russian Ruble and the Turkish Lira, have been pushed down to exceedingly low levels. In an unusual twist, financial experts have called upon China’s monetary authorities to let the Renminbi float to “ease risks” (China Daily, October 31, 2018). Sounds contradictory? At this juncture, at the height of Trump’s trade war against China, the Forex market has become weaponized. The policy of “Floating the Yuan” ...Read full article...

Nationalism will not be responsible for the next Financial Crisis

Globalist publications are already announcing the arrival of the next financial crisis. What these publications do not say is that this crisis will happen for the same reasons as those of 2008 and while the global financial system is still in the same hands: those of the globalists. The presstitutes say that the crisis will be the responsibility of the wave of nationalism, which they sometimes dismiss as protectionism. ...Read full article...

The Attention Economy: The Social Media duopoly that sells your Life

Social media giants brainwashed us all to live the lives of others. Social networks don’t exist to make us happy or to help us connect with friends, but to show us publicity and to illegally collect our personal information and metadata. Its massive machinery whose role is to show advertisements is what led to compromising episodes such as the Cambridge Analytica scandal, which showed that biased information was sent ...Read full article...

Metadata: Your Behavioural Footprint Online

Metadata is more valuable for large data mining companies than your name, address or telephone number. Your name doesn’t matter. The color of your hair is not important. Your way of walking, your accent or your perfume are useless. It is your internet presence what you should be worried about. “These data have less and less impact, where you were born does not matter for your work, or for ...Read full article...

Gold Reserves built by Russia, China and Turkey

Central banks in several regions of the World are building up their gold reserves. A large part of these Central Bank purchases of gold bullion are not disclosed. They are undertaken through third party contracting companies, with utmost discretion. The evidence amply suggests that US dollar holdings and US dollar denominated debt instruments are being traded in for gold, which in turn puts pressure on the US dollar. In ...Read full article...

With 4% GDP, what could possibly bring the economy down?

Anyone with a price book will agree that the cost of nearly everything has been steadily going up. Unfortunately, wages are not increasing at the same rate. And to quote Bachman-Turner Overdrive, you ain’t seen nothin’ yet. There are three events happening in the economy right now that could, alone, cause the prices of everything from food to the materials to make replacement parts for your vehicle to skyrocket. ...Read full article...

Poverty is America’s leading growth industry

Poverty today is America’s leading growth industry because of bipartisan indifference to a largely unaddressed festering problem. During the best of earlier times, no war on poverty was ever waged in America, skirmishes alone, letting a problem demanding strong action fester. Michael Harrington’s 1962 book, titled “The Other America” exposed the nation’s dark underside enough for Jack Kennedy to address the issue, and for Lyndon Johnson to declare “unconditional ...Read full article...

Monstrous AT&T/Time Warner Merger

Federal courts are supremely pro-business, including the nation’s highest one throughout its history. The nation’s first Supreme Court chief justice John Jay arrogantly said America should be run by the people who own it. The nation’s second president John Adams said the rich, well born and able should rule. The Supreme Court’s 1886 ruling in Santa Clara County v. Southern Pacific Railway was arguably the most infamous one high ...Read full article...

Argentina is now owned by the IMF

Venezuela, Costa Rica and Argentina are three nations that suffer due to their massive debt with foreign banks. Countries all over Latin America are running out of time to curb, once and for all, their growing public debts and fiscal deficits, yet, none of those countries seem to know, or simply refuse to recognize, that the largest source of debt slavery is foreign loans from supranational banking cartels. Venezuela, Costa ...Read full article...