Building A More Powerful People’s Movement For Economic Democracy Will Require The Spread Of A More Expansive View Of Democracy. One That Moves Past Individual Rights And Into The Realm Of Shared Responsibilities. As economists and policymakers are seeking to explain the “Great Resignation” sweeping the labor market, the traditional wage and hour issues became less important to employees than in the recent past, according to a recent report. A big takeaway from the data is that organizing people as workers is not enough. Economic democracy in the twenty-first century cannot be achieved solely within a framework focused exclusively on worksites. Rather we must explore a more […]
Economic
94 posts
Us Recklessly Eyes China As Target In Economic War By Joe Lauria, Consortium News. March 21, 2022 Us Recklessly Eyes China As Target In Economic War2022-03-212022-03-21https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2022/03/20220321-5.jpg200px200px Above Photo: Biden-Xi video summit on Friday. (White House). Western officials say Russia is asking China for military help — denied by Beijing — in what is clearly an effort to build a case to include China in its economic war against Moscow. The United States is setting up China as a second target of its intense economic war against Russia in what could have cataclysmic effects on the world economy, including the West. The U.S. […]
‘Reckoning’ With The Economic Marginalization Of Native Americans By Dedrick Asante-Muhammad, Counter Punch. March 11, 2022 ‘Reckoning’ With The Economic Marginalization Of Native Americans2022-03-112022-03-11https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2022/03/220311.png200px200px Above Photo: National Community Reinvestment Coalition. Over the last two years, there has been much discussion of a national “reckoning” on race. There can be no complete reckoning without strong analysis and substantive action to address the economic marginalization of Native Americans in 21st century America. Through years of intentional governmental policies that took away their lands and resources, American Indians have been separated from the wealth and assets that were rightfully theirs. Today, we see a consistent […]
Lebanon’s Economic Collapse By Yusra Bitar, Post Growth Institute. March 10, 2022 Lebanon’s Economic Collapse2022-03-102022-03-10https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2022/03/220310-2.jpg200px200px Above Photo: djedj via Pixabay. Prosperous Transitions And Global Warnings. Glimpses Of Systemic, Post-Carbon Alternatives To The Country’s Economic And Political Crisis Are Emerging. A friend in Beirut asked me teasingly as we walked the darkened streets, “Are you happy now? You wanted degrowth and you’re getting it.” He was referencing the economic crisis and recession Lebanon is experiencing — although he knows very well the stark difference between this deep recession and degrowth. Recession happens when growth dependent economies stop growing, i.e., GDP goes into the […]
Sanctions: A Sanctimonious Word for Economic Warfare and Outright Theft By Ann Garrison, Black Agenda Report. March 9, 2022 Sanctions: A Sanctimonious Word for Economic Warfare and Outright Theft2022-03-092022-03-09https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2022/03/220309-6.jpg200px200px Above Photo: Protest against US assets theft in Kabul, Afghanistan December 21, 2021. Agence France Presse. The U.S. claims the right to sanction, to steal from other nations, with one-third of humanity suffering from these crimes. Sanctions are war by other means and cause great suffering around the world. The word “sanctions” emerged in the Middle Ages, meaning ecclesiastical decrees. Today it’s a sanctimonious word for economic warfare, including even outright theft. […]
Above Photo: Anton Vergun / TASS. As Military Operation In Ukraine Enters Second Week. The Russian forces have announced safe passage for civilians after claiming that they are closing in on three major cities of Ukraine – capital Kiev, the second largest city Kharkiv, and the southern port city of Mariupol. Delivering his annual state of union address, US president Joe Biden announced the decision to close its airspace for all Russian flights on Tuesday, March 1. He accused Russia of rejecting “efforts of diplomacy” and called president Vladimir Putin’s decision to send armies to Ukraine a “badly miscalculated” move. However, […]
Above Photo: Major existing and planned natural gas pipelines supplying Russian gas to Europe. Samuel Bailey. It may be premature somewhat to consider economic consequences of the Ukraine war with the Russian invasion still less than a week old. However, certain outlines of where things are going are nonetheless possible. With that caveat, the following represent some early considerations of the likely—in some cases already occurring—economic consequences of the war for Russia, European Union, and the USA. Economic Consequences for Russia The immediate effect on the Russian economy in the initial days was a sharp fall in its stock and financial […]
Above Photo: Nathaniel St. Clair. The growing disconnect between the capitalist system and the economic realities plaguing the United States is now nearing completion. On the ground, the accumulated problems of U.S. capitalism undermine its empire and challenge its very future. Meanwhile, the ever-deepening inequalities of wealth and income conjure up images of ancient Egypt’s pharaohs. Three economic crashes opening the new century (2000, 2008, and 2020) have shaken the system; so have the two wars America lost against very poor countries in the Middle East: Afghanistan and Iraq. The worst public health crisis in a century during the COVID-19 pandemic […]
Above Photo: Charles Deluvio / Unsplash. Unions and worker cooperatives have a lot in common when it comes to passions and principles for democratic workplaces. Where they differ is in strategy and tactics. At this moment in history, it is clear to many that much needs to be torn down and much needs to be built up. To face this challenge and change our economic system to achieve genuine workplace democracy requires new ways of doing business and a multi-pronged approach. To explore these issues in greater depth, the Community and Worker Ownership Project at the City University of New York (CUNY) published […]
CounterSpin interview with Natalia Renta on Puerto Rico debt deal Janine Jackson interviewed the Center for Popular Democracy’s Natalia Renta about the Puerto Rican debt deal for the January 28, 2022, episode of CounterSpin. This is a lightly edited transcript. Janine Jackson: “Puerto Rico received approval from a federal judge on Tuesday to leave bankruptcy under the largest public sector debt-restructuring deal in the history of the United States.” That’s how a January 18 New York Times report begins. It’s been nearly five years, the paper explains, since the “financially strapped territory declared it could not repay its creditors.” The executive director of […]
Above Photo: The children of participants in Oakland Bloom’s incubator program at a neighborhood “Small Business Saturday” event selling items prepared by the chefs in December 2021. Diana Wu. Serving More Than Food. Food service is not an industry that most would associate as a beacon of social or economic justice. In fact, the restaurant industry is notorious for providing paltry wages, for engaging in shocking levels of wage theft, and for generally being comprised of toxic work environments marked by sexual harassment and human trafficking. In the face of horrendous work environments and staggering levels of worker exploitation, many restaurant workers and their advocates are […]
Above Photo: Signs that read “Build Back Better” and “Expand Medicare” are seen as U.S. Senator Sherrod Brown (D-OH) speaks about the Build Back Better package outside the U.S. Capitol in Washington, December 15, 2021. Elizabeth Frantz / Reuters. Build Back Better Now DOA. Months ago this writer predicted that Senator Manchin would never support Biden’s ‘Build Back Better’ Bill and was simply engaging in ‘bad faith bargaining’ to string the Democrats along. Manchin’s goal was to get the Democrat leadership–Biden, Pelosi, Durbin, Shumer et. al.–to reduce their proposals, which they conveniently did, on repeated occasions. But Manchin’s real objective has […]
Above photo: Detroit Hasting Street under demolition to build Chrysler and Fisher Freeways in the early 1960s. Abayomi Azikiwe. Detroit has long been a target of capitalist globalization and the mass exploitation of the workers and oppressed. Author’s Note: This presentation was written and delivered in part to the New York City People’s Forum during a webinar on the struggle against the opening of an office of the World Economic Forum (WEF) in downtown Detroit. Other panelists were Mike Shane of the Moratorium NOW! Coalition, Rev. Bill Wylie-Kellerman, retired pastor of the Episcopal Church of Detroit, Crystal Bernard, Michigan State University senior and member of the […]
“I Think Our Oil Industry Is Going To Grow And Be Maybe Even More Important Than It Was Before, Because Now We Know How To Do Many Things By Ourselves That We Thought That We Couldn’t. And The Sanctions Helped Us In That Sense.” — Jorge Arreaza, Venezuelan Minister Of Basic Industries. UN Special Rapporteurs estimate that 100,000 people have died in Venezuela in the last decade because of the lack of medicine brought on by U.S. sanctions. Nearly 60% of those deaths took place under the Trump administration after Washington escalated its economic warfare on the Bolivarian state. During the Trump era, […]
The United States has tried to control the poor Central American country, Nicaragua, for more than 100 years. John Bolton designated Nicaragua as part of the “Troika of Tyranny” along with Cuba and Venezuela for daring to defend its sovereignty. Since the failed violent coup attempt in 2018, the US foreign policy establishment has focused on preventing President Daniel Ortega’s reelection using a variety of tactics. Ben Norton, associate editor of The Grayzone, who is based in Managua, describes those tactics, the complicity of corporate media and social media and how Nicaragua is working to protect its democratic institutions. Norton outlines […]
“Record numbers” of migrants are coming into the United States from Nicaragua, according to Newsweek (7/29/21), which blames the increase on “arbitrary arrests and human rights abuses” by the Nicaraguan government. Former Sandinista leader Sergio Ramírez, writing for El Salvador’s El Faro (8/20/21), claims that “repression” by President Daniel Ortega’s Sandinista government is causing a “dramatic growth” in migration by Nicaraguans. Reuters (9/2/21) agrees, describing the government “crackdown” as stirring a “fast-growing exodus” from the country. The Wall Street Journal (9/22/21) has also identified the “crackdown,” quoting a 19-year-old Nicaraguan who hopes to get asylum in the US as claiming that “in Nicaragua, our fate is prison or […]
The US Congress Invited Neoconservative Regime-Change Strategists To Discuss The Next Stage Of Hybrid Warfare On Nicaragua’s Sandinista Government, Which Will Likely Involve Creating An Economic Blockade, Refusing To Recognize The Legitimacy Of President Daniel Ortega, And Borrowing Tactics The Trump Administration Used In Its Coup Attempt In Venezuela. A House Foreign Affairs Committee hearing on September 21 set out plans for the next phase of the United States’ hybrid warfare on Nicaragua, which aims to destabilize and ultimately overthrow the Central American nation’s leftist Sandinista government. The event featured hardline neoconservative members of Congress, a senior State Department official, a prominent Nicaraguan […]
On Contact: Global Economic Machine December 6, 2020 On Contact: Global Economic Machine2020-12-062020-12-06https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/12/oncontact.png200px200px On the show this week, Chris Hedges talks to Fabian Scheidler about how the global economic machine came to dominate our lives, and with looming social upheavals caused by predatory capitalism, what can be done to blunt its destructive power. Fabian Scheidler is author of The End of the Megamachine: A Brief History of a Failing Civilization, and co-founder of Kontext TV. www.end-of-the-megamachine.comwww.fabianscheidler.com YouTube channel: On Contact Follow us on Facebook: Facebook.com/OnContactRT Podcast: https://soundcloud.com/rttv/sets/on-contact Source link
The death of Bollywood actor Sushant Singh Rajput has been judged suspicious, prompting one of the biggest investigations in the Hindi film industry. The 34-year-old Bollywood star was found dead in his Mumbai flat on 14 June. The actor’s death led to a massive uproar, with the case being probed by three major agencies. A money laundering probe in Sushant Singh Rajput’s death case has led India’s Enforcement Directorate (ED) to filmmaker Dinesh Vijan, who directed the 2017 film Raabta, starring the late actor. The ED conducted raids at four locations of director-producer Dinesh Vijan, including his home and office, on […]
The Nobel Prize gold medal during manufacture at the Swedish Mint. Each laureate receives the medal, which has the likeness of Alfred Nobel on its face. Markus Marcetic/Courtesy of Myntverket (Swedish Mint) hide caption toggle caption Markus Marcetic/Courtesy of Myntverket (Swedish Mint) The 2020 Nobel Memorial Prize in Economic Sciences was awarded to Paul Milgrom and Robert Wilson, both of Stanford University. The prize citation says Milgrom and Wilson were awarded the prize “for improvements to auction theory and inventions of new auction formats.” “Auctions are everywhere and affect our everyday lives.” the prize committee said in a statement. Milgrom and […]
Why America’s Economic War On China Is Failing By Vijay Prashad and John Ross, Globetrotter. October 9, 2020 Why America’s Economic War On China Is Failing2020-10-092020-10-09https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/10/chinaus.png200px200px Above photo: From Industry Week. U.S. President Donald Trump—supported by most of the U.S. establishment—deepened the U.S. government’s assault on the Chinese economy. The “trade war” seemed to play well with Trump’s political base, who somehow hoped that an economic attack on China would miraculously create economic prosperity for them. In 2018, Trump slapped tariffs on more than $200 billion worth of various Chinese goods. Then, Trump’s administration went after Chinese high-tech firms such as […]
Since the outbreak of the COVID-19 pandemic India’s apex bank, the Reserve Bank of India, has infused liquidity worth $125 billion into the economy to stabilise financial markets. Central banks the world over have pumped $9 trillion into the global economy amid the pandemic. India’s apex bank RBI on Friday said the country’s economic growth, measured as Gross Domestic Product (GDP), is likely to contract by 9.5 percent in the current financial year (April 2020-March 2021). The growth projections were made by the Reserve Bank of India (RBI) Governor Shaktikanta Das while announcing the key lending rates, which remained unchanged […]
Spain Unveils Economic Recovery Plan Amid Pandemic By Barry Hatton, AP News. October 8, 2020 Spain Unveils Economic Recovery Plan Amid Pandemic2020-10-082020-10-08https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/10/spain-scaled-e1602178818661.jpeg200px200px Above photo: Paul White/AP. NOTE: The details of the plan matter but it is a positive sign to see money being invested in a green economy. – MF Spain’s prime minister unveiled a major plan Wednesday to boost his country out of recession by spending 140 billion euros ($162 billion) of European Union aid to reshape the economy, with the aim of creating 800,000 jobs over the next three years. The program is a response to the sharp downturn […]
The next time you’re in the presence of someone who tries to tell you that Donald Trump is a political genius, I’d like you to grab the nearest copy of Men’s Hairstyles magazine and whack them upside the head. Maybe not too many people are saying that these days, as he’s clearly in the early stages of a ’roid-driven meltdown. But people have remarked many times on Trump’s supposed genius. It has never been true. He didn’t win his massive following by being a political genius. He won it by lying his ass off and being a racist. That’s not political […]
Despite retaining India’s credit rating at the lowest investment grade, ratings agency S&P Global warned that the Asian economy will face mounting deficit and debt levels in fiscal 2021 in the aftermath of the coronavirus crisis. In its forecast released earlier this week, S&P said it expects India’s debt-to-GDP ratio (the debt levels compared to gross domestic product) to surge over 17 percent from the previous year before it reaches 90.6 percent in the fiscal year to March 2021. The outlook is similar to the estimates of two other major ratings firms, with Fitch pegging general government debt to jump to […]
The founder and lead market strategist at NorthmanTrader explains how the Fed has boxed itself in and why our fundamental economic capacity fails to grow. Sven Henrich is the outspoken founder and lead market strategist at NorthmanTrader. Well known for his appearances on CNBC, CNN Business and MarketWatch, Sven is also the host of the Straight Talk podcast. In this conversation, he and NLW discuss: Source link
Despite India being an important partner for the United States geopolitically, a bilateral free trade agreement (FTA) is unlikely to be reached soon regardless of who wins the upcoming US presidential election. That’s according to Todd Buchholz, who served as the director of economic policy at the White House under President George H.W. Bush. He said as cited by the Economic Times that both US President Donald Trump and his opponent Joe Biden look at India amenably but have their own compulsions not to proceed with such a far-reaching deal. “I find it difficult to imagine that in four years’ time, […]
Work to begin soon on linking Iran power grid to Russia, Azerbaijan: Report …from PresssTV, Tehran [ Editor’s Note: I had known that Iran has been investing in electric generation, in what seemed far in excess of its projected domestic needs as a way to use its huge gas deposits to earn foreign revenue with long term electric exports. Despite the hostile Arab governments west of Iran in the Persian Gulf, Iran continues to nail down the security of its borders by becoming an economic hub for its neighbors that it can help develop in multiple ways. If Iran gets caught […]
Treasury Secretary Steven Mnuchin was optimistic about the economic rebound from the COVID-19-nduced slump. But Federal Reserve Chairman Jerome H. Powell credited the $2.2 trillion stimulus passed in March for the recovery, and warned things could get worse without a second package. US Treasury Secretary Steven Mnuchin has held out hope for a Congressional compromise on a second COVID-19 pandemic stimulus package. Speaking before the House Financial Services Committee on Tuesday, Mnuchin and Federal Reserve Chairman Jerome H. Powell said an economic rebound from the pandemic slump depended on a replacement for March’s $2.2 trillion CARES Act. “The president and I remain committed […]
Britain is holding another Black Pound Day, when consumers are encouraged to buy from black-owned businesses. RT learns more about the idea from the people behind it. Saturday marks the UK’s third Black Pound Day. It’s a grassroots campaign to encourage the public to give their custom to black-owned businesses for 24 hours. It falls on the first Saturday of every month and is the brainchild of DJ Swiss, a member of popular London rap group So Solid Crew. The initial day saw £61,940.53 spent, and last month’s total was £22,242.42. The types of business participating are wide, and include cake […]
One of the best-known macro analysts breaks down last week’s Jerome Powell speech and whether it truly represents a new policy era for the Federal Reserve. Our main conversation is with Luke Gromen, founder of the Forest for the Trees consulting firm. In this conversation, we discuss: Source link
The University of Alabama in Tuscaloosa makes up a sizeable portion of the city’s population of roughly 100,000. Mayor Walt Maddox says losing an entire semester of school would be “economically disastrous for our community.” Wesley Hitt/Getty Images hide caption toggle caption Wesley Hitt/Getty Images The University of Alabama in Tuscaloosa makes up a sizeable portion of the city’s population of roughly 100,000. Mayor Walt Maddox says losing an entire semester of school would be “economically disastrous for our community.” Wesley Hitt/Getty Images Across the country, colleges and universities are struggling to decide how to teach students in the midst of […]
https://cdn1.img.sputniknews.com/i/logo-itemprop.png Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/middleeast/202008291080311516-uae-orders-cancellation-of-economic-boycott-against-israel-reports-say/ Tel Aviv and Abu Dhabi announced their plans to normalise their ties earlier this month, with the United Arab Emirates becoming the first Gulf state to establish relations with Israel. United Arab Emirates President Khalifa bin Zayed Al Nahyan has issued a decree allowing financial and commercial deals with Israel to be struck, the Emirates News Agency reported on Saturday. The decree is aimed at “supporting bilateral cooperation in order to arrive at (the establishment) of bilateral relations”, the news agency said. The deal between Israel and the Emirates, brokered by the United States […]
The greatest economic recovery in US and world history continues. The S&P 500 hit a new all-time high today after the President showcased his list of great accomplishments this past week. The stock markets have increased faster since March than any time in history. The previous record was between President Trump’s election win and February of this year. Today the S&P 500 hit another all-time high – TRENDING: BREAKING: Violent Black Lives Matter Mob Attacks Sen. Rand Paul as He Leaves RNC in DC Americans who kept their money in the markets since March are very happy today with their 401k […]
Reforms Are Won When Social Movements Inflict Real Costs On The Economic Elite By Justin Vassallo, Truthout. August 24, 2020 Reforms Are Won When Social Movements Inflict Real Costs On The Economic Elite2020-08-242020-08-24https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/you-have-the-power-to-be-the-change-e1577647608266.jpg200px200px There’s a tendency in US progressive politics to focus on rehabilitating capitalism for working people. Elizabeth Warren’s campaign for president had the patina of an “anti-corruption” crusade, giving a populist spin to technocratic fixes that would update the embedded liberalism of the postwar era for the twenty-first century. Think tanks and public intellectuals likewise emphasize antitrust as a means to improve the welfare of consumers and workers while giving smaller […]
The greatest economic recovery in US and world history continues. The S&P 500 hit a new all-time high today after great news on housing and manufacturing data. The stock markets have increased faster since March than any time in history. The previous record was between President Trump’s election win and February of this year. Forbes reports: Stocks finished higher on Friday, with the S&P 500 hitting another new record high after manufacturing and housing data both came in stronger than expected…. TRENDING: SHOCK VIDEO: “Mom! Call 911!” – Biden Supporters Attack 7-Year-Old Boy Outside DNC Convention For Wearing Red MAGA Hat […]
Trump Scuttles Economic Stimulus Negotiations By Jack Rasmus, Popular Resistance. August 8, 2020 Trump Scuttles Economic Stimulus Negotiations2020-08-082020-08-08https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/08/covidtalks-e1596890242609.jpg200px200px Above photo: Treasury Secretary Steven Mnuchin, center, and President Donald Trump’s Chief of Staff Mark Meadows, second from right, leave following a meeting with House Speaker Nancy Pelosi of Calif. and Senate Minority Leader Sen. Chuck Schumer of N.Y. as they continue to negotiate a coronavirus relief package on Capitol Hill in Washington, Friday, Aug. 7, 2020. AP Photo/Andrew Harnik. What’s Next? Today, August 7, 2020 negotiations on an economic stimulus package between US House Democrats and the White House broke down and broke […]
After suffering its worst monthly fall in about a decade, the US currency has started August with a bounce. However, analysts predict further weakness in the greenback. “We expect the currency to be undermined by an ebbing of safe-haven flows, a reduction in the US rate advantage, and political uncertainty ahead of the November presidential election,” UBS analysts wrote last week. The ICE US Dollar Index, which measures the dollar against a basket of six major rivals, plunged 4.2 percent in July – its biggest one-month decline since September 2010, data showed. The index was trading up on Tuesday at around 93.69, […]
US GDP Collapses And Economic Rebound Fades August 4, 2020 US GDP Collapses And Economic Rebound Fades2020-08-042020-08-04https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/08/landt-e1596569763396.jpg200px200px Above photo: The Boston Lord & Taylor store placed Store Closing Sale signs in its windows as it declares bankruptcy. Michael Lisicky/JDB. This past week US economy collapsed in the 2nd quarter by 32.9% at annual rate and nearly 10% just for the April-June period. Never before in modern US history—not even in the worse quarters of the 1930s great depression—has the US economy contracted so quickly and so deeply! All the major private sectors of the US economy—Consumption, Business Investment, Exports & Imports—collapsed in […]
Racial And Ethnic Economic Inequality And The COVID-19 Pandemic By Thomas Hanna, Democracy Collaborative. August 4, 2020 Racial And Ethnic Economic Inequality And The COVID-19 Pandemic2020-08-042020-08-04https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/08/16x9_m-1.jpg200px200px Above photo: People wait in line for masks and food in Harlem in New York City in April. Bebeto Matthews/The Associated Press. The Democracy Collaborative prepared a report, created for the Healthcare Anchor Network, that looked at how racial and ethnic disparities in the economy are showing up in the COVID-19 pandemic and in the public policy response to the pandemic. The report also covers how the economic effects of the pandemic will likely impact racial and […]
A recap show on wealth inequality, stock markets and taking it back featuring Jill Carlson, Michael Krieger, Daniel Lacalle, George Gammon and more. Despite a huge variety of perspectives and experiences, one theme shown through in Breakdown conversations in July: the disparity between the stock market and the real economy and a growing unwillingness of people to accept their place in the order. This show features clips from: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary […]
Well, this is a no-brainer.President Donald Trump SURGED past Sleepy Joe in the latest monthly Democracy Institute/ Sunday Express poll on the economy.Trump polls at 48% and Joe Biden polls at 46% in their latest monthly poll. More importantly President Trump leads Joe Biden 48 percent to 43 percent in the swing states Florida, Iowa, Michigan, Minnesota, Pennsylvania and Wisconsin. ** President Trump presided over the most successful economy in US history.** Joe Biden and Barack Obama presided over the worst economic recovery since the Great Depression. The Express.co reported: TRENDING: Federal Government and Yale Are Holding Clinical Trials on How […]
Relations between the United States and the Islamic Republic of Iran have become increasingly strained in recent years, following the 2018 withdrawal by the Trump administration from the 2015 joint agreement pledging a peaceful development of nuclear power. Iran’s Foreign Ministry said in a Sunday statement that it would introduce targeted sanctions on a member of the US-based Foundation for Defense of Democracies (FDD), as relations between the US and Iran continue to worsen. Richard Goldberg, a former member of the United States National Security Council, is accused of “economic terrorism” by Tehran. Citing “Articles 4 and 5 of the Law […]
From the size of a second round of stimulus to COVID-19 litigation to reshoring, last week previewed some key issues for the months to come. On this week’s edition of The Breakdown Weekly Recap, NLW argues the big story of the week was actually a set of smaller stories that preview the faultlines and economic debates likely to absorb us in the coming months. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, […]
The French economy contracted by a record 13.8 percent in the second quarter, data from the national statistics agency INSEE has revealed, highlighting the cost of coronavirus lockdowns. The historic decline marked a third consecutive quarter of negative growth in a worsening recession. France’s economy started shrinking in the last quarter of 2019, before the coronavirus pandemic hit Europe with full force. It continued to retreat in the first three months of this year, when the rapid spread of the virus was starting to trigger lockdowns, contracting by 5.9 percent, according to the updated figures. “GDP’s negative developments in first half […]
After a two-day closed-door meeting this week, the Federal Reserve issued a six-paragraph statement on Wednesday and held an hour-long press conference. None of that was news, of course, and neither was anything else emanating from the U.S. central bank, which announced no policy changes. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here. But here’s what […]
Imperialist Economic War Costs US Almost $200 Billion By Pasqualina Curcio, People’s Voice. July 29, 2020 Imperialist Economic War Costs US Almost $200 Billion2020-07-292020-07-29https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/07/venezuela-defend-the-homeland-indestructible-e1596040182366.jpg200px200px Above photo: Venezuela Defend the Homeland, Indestructible, from Peoples World. Quantifying each and every one of the effects of the war that imperialism has declared on the Venezuelan people is impossible. The attacks that Venezuelans have experienced since 1999 have not only been economic, they have also been psychological. There is no way to measure the consequences of the hatred that the undemocratic opposition has sown with its anti-socialist propaganda, to the point of burning people alive if […]
White House economic adviser Larry Kudlow has said that more stimulus checks are coming, along with an extension of the current eviction moratorium. However, he was slammed for claiming that all is well with the US economy. The $1 trillion bill will include another round of stimulus checks – to the tune of $1,200 per person, Kudlow told CNN on Sunday. In addition, the relief bill will extend unemployment benefits, provide funding for schools to reopen, and allocate $16 billion for coronavirus testing. Read more “It’s a very well-rounded package,” Kudlow added. “It’s a very well targeted package.” Senate Republicans plan […]
Suicide rates have spiked in Gaza since the outbreak of the pandemic which worsened an already unstable economic situation in the region. Suleiman Al Ajouri was just one of 35 young people who took their own lives in 2020 and a human rights activist says a future that curerntly offers few solutions is looking even bleaker. Gaza native Suleiman Al Ajouri was only 23 years old when he committed suicide at the beginning of July, devastating his family and friends. Moments before he shot himself in the head on the staircase of his home, he posted a message on Facebook hinting […]
The Breakdown Weekly Recap covers growing U.S.-China tensions, worsening job numbers and the next casual $1-$3 trillion in stimulus. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
Cuba Defeated The Pandemic, Is Preparing To Face The Economic Crisis By Arleen Rodríguez Derivet, Resumen English. July 24, 2020 Cuba Defeated The Pandemic, Is Preparing To Face The Economic Crisis2020-07-242020-07-24https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/07/cuba.jpg200px200px Above photo: Ismael Francisco. Possibly no other country in the world has it worse when it comes to facing what Cuban President Miguel Díaz Canel has defined as the very challenging global economic scenario, after the impact of a pandemic that in the first six months of the year put almost all economies on hold and is still slowing down the most dynamic productive, financial and commercial processes on a planetary level. But […]
The idea of a U.S. digital dollar is no longer a fringe novelty. Now, it may be a means to an end. The U.S. Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy conducted a hearing on “Winning the Economic Competition” between China and the U.S. on Wednesday. Once again, the idea of a Federal Reserve-administered central bank digital currency reared its head. Much of the hearing was about America’s economic relationship with China, and both nations’ economic relationships with the rest of the world. Four of the five speakers had no close ties to the crypto space, and discussed […]
The summit has continued for several days, unplanned, due to strong differences over a COVID-19 recovery fund and a long-term budget. The EU leaders have coordinated an economic recovery fund and a long-term financial plan at the summit in Brussels, EU Council president Charles Michel announced on Tuesday. The EU has agreed on a 750 billion euros economic recovery fund and a 1.074 trillion euros financial plan for 2021-2027, the Belgian Prime Minister said. Ahed of the plenary session, Michel said that he would offer new proposals on the EU’s long-term budget and the recovery plan, describing it as the “fruit of lots […]
https://cdn1.img.sputniknews.com/img/07e4/07/14/1079939464_0:0:3116:1753_1200x675_80_0_0_365cf8398936f69502270de73cf836ac.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/europe/202007201079939493-eu-leaders-resume-plenary-discussions-on-economic-recovery-fund/ BRUSSELS (Sputnik) – The EU leaders resumed plenary discussions at 9:30 pm local time (19:30 GMT) on Monday as the summit continued into an unplanned fourth day due to strong differences over a COVID-19 recovery fund and a long-term budget. “Good evening and welcome back to EUCO on MFF and Recovery Fund. @eucopresident has just started the plenary discussions with EU27”, spokesman of the European Council President Barend Leyts wrote on Twitter. Initially, the EU27 planned to hold a plenary meeting at 4 pm, but it was repeatedly pushed back, as European Council President […]
New Delhi (Sputnik): The Indian aviation sector is going through turbulent times in the wake of the pandemic, which has pushed numerous airlines to the brink of financial collapse. Several airlines have urged the government to provide short-term relief, including help to pay salaries for staff. Stating that measures such as salary cuts and cost-cutting policies were not enough to face the economic headwinds, India’s biggest carrier IndiGo decided to reduce the workforce by at least 10 percent on Monday. The airline further laid out a plan to help employees “tide over the uncertainties”. This included keeping notice pay in lieu, […]
New Delhi (Sputnik): Indian Prime Minister Narendra Modi announced a $266 billion stimulus package on 12 May to help the economy and businesses get over the crisis posed by the COVID-19 pandemic. India’s banking regulator too has infused about $80 billion into financial markets in its efforts to deal with the fallout from the pandemic. With global financial agencies revising growth projections of the Indian economy further downwards, the Modi government is holding top-level internal consultations on further macro-economic measures required in the wake of the COVID-19 pandemic. The central Cabinet, a group of key ministers, has held series of […]
Besides having certain gaps, Joe Biden’s new “green” plan may deal a heavy blow to the US economy by stepping up spending, damaging vital industries and slapping taxes on businesses and the rich, some finance experts say. The presumptive US Democratic presidential nominee, Joe Biden, has rolled out a new $2 trillion green energy jobs and infrastructure plan that seeks to set the US economy “on an irreversible course to meet the ambitious climate progress” in the coming four years and achieve a carbon pollution-free and sustainable power sector by 2035. “When Donald Trump thinks about climate change, the only word he […]
Economic Collapse, Pandemic: There Is No Plan (For You) By Hamilton Nolan, In These Times. July 15, 2020 Economic Collapse, Pandemic: There Is No Plan (For You)2020-07-152020-07-15https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/07/people-sleeping-on-subway-car-e1594831271841.jpg200px200px Above photo: People sleeping on subway car, Photo by Jose Perez/Bauer-Griffin/GC Images. Unemployment, evictions, business failure, a pandemic and health crises are all here at once. The federal government doesn’t care. Consider the astounding confluence of social and economic crises that are all barreling towards the American people at this moment. In the midst of an enormous, unavoidable increase in national unemployment, the $600 per week unemployment benefit increase that has sustained millions is set to run […]
…from SouthFront Saudi Arabia has become a hostage of its own military campaign in Yemen. The Kingdom suffers from both its own inability to achieve a military victory in the conflict and regular losses from the retaliatory actions of the Houthis. At the same time, the Saudi leadership has no opportunity to withdraw from the conflict and abandon its proxies there because this will undermine its already shaky position in the region and cause a wide-scale political crisis inside Saudi Arabia itself. The impact from such a crisis will be especially devastating. Over the past years, the Kingdom has been passing […]
https://cdn1.img.sputniknews.com/i/logo-itemprop.png Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/world/202007131079873009-trump-not-in-a-good-mood-about-china-economic-adviser-kudlow-says/ On 15 January, the US and China signed the Phase One deal of a broader trade agreement, marking a breakthrough in the longstanding trade war. However, in recent months Trump has repeatedly said he “no longer felt good” about the arrangement due to the spread of the coronavirus, which he blames on Beijing. Source link
President Trump’s oldest son also lashed out at the media as, according to him, they continue to take digs at his father to make him look bad while at the same time ignoring Biden’s history. Donald Trump Jr has criticised Democratic presidential candidate Joe Biden’s economic plan, dubbed “Build Back Better” and criticised his approach to China, saying that the US has to “deal tough” with Beijing. “You know that Joe Biden can sell this notion of ‘now we’re going to be buy American after 50 years of legislation that sent our jobs, that sent our American Dream to China”, Trump […]
Hard as it is to believe that anyone could think Donald Trump could be better than Joe Biden at anything, from running the country to drinking from a glass of water, there are such people. And it was those people to whom Biden pitched his economic speech Thursday afternoon in Dunmore, Pennsylvania, outside of Scranton, where he famously grew up in the pre-Dunder Mifflin era. It was not a speech for the ages, from a rhetorical point of view. But what he said was fine. Plenty fine. He had some very tough attack lines on Trump, as my colleague Hanna Trudo […]
WASHINGTON (Sputnik) – US President Donald Trump signed an executive order on Thursday that enhances economic and educational opportunities for Hispanic Americans. “The executive order I will sign in a few moments will expand our efforts across all of federal government to deliver educational and economic opportunity for Hispanic Americans”, Trump said during remarks at the White House. “The executive order I will sign in a few moments will expand our efforts across all of federal government to deliver educational and economic opportunity for Hispanic Americans.” pic.twitter.com/luLovY0qBl — The White House (@WhiteHouse) July 9, 2020 The White House said in a […]
Presumptive Democratic nominee Joe Biden ripped into President Donald Trump in an economic address to the nation on Thursday afternoon in battleground Pennsylvania, seeking to draw sharp, and at times, populist contrasts to the president. “Donald Trump may believe pitting Americans against Americans will benefit him,” Biden said in Dunmore, just outside of his hometown of Scranton. “I don’t.” “Donald Trump loves to talk… and talk… and talk,” Biden added. “But after three and a half years of big promises, what do the American people have to show for all the talk?” The former vice president’s speech comes as he unveiled […]
Economic Justice Rally Pushes For City Level Reparations July 9, 2020 Economic Justice Rally Pushes For City Level Reparations2020-07-092020-07-09https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/07/saintpaulrecoveryactreparationsrally-1200×675-e1594311540874.png200px200px St. Paul, MN – After weeks of intense protests following the murder of George Floyd by police, Minnesota organizers are pushing legislative changes to bring forth justice for the Black community. One of those items is a bill that would distribute reparations for descendants of slaves in Minnesota’s capital city of Saint Paul. The St. Paul Recovery Act, spearheaded by Minnesota Green Party spokesman Trahern Crews and Ward 7 city councilor Jane Prince, is what the pair call “economic justice“. Flyer […]
The Impact Of The Economic War On Venezuela By Pasqualina Curcio, Resumen English. July 9, 2020 The Impact Of The Economic War On Venezuela2020-07-092020-07-09https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/07/z.jpg200px200px Above photo: Alejandro Cegarra. It would be impossible to count each and every one of the ways in which the war on Venezuela declared by imperialism has harmed the country. The aggressions that we, the Venezuelans, have experienced since 1999 have been not only economic; they have been psychological as well. There is no way to measure the consequences of the hate planted by the anti-democratic opposition, with its anti-socialist propaganda; it has extended to the point of burning people […]
Presumptive Democratic presidential nominee Joe Biden, here at a health care event in June, is rolling out a series of planks in his economic plan before the Democratic National Convention. Joshua Roberts/Getty Images hide caption toggle caption Joshua Roberts/Getty Images Presumptive Democratic presidential nominee Joe Biden, here at a health care event in June, is rolling out a series of planks in his economic plan before the Democratic National Convention. Joshua Roberts/Getty Images Former Vice President Joe Biden, the presumptive Democratic presidential nominee, plans to lay out a key plank of his economic vision for the country — dubbed “Build Back […]
Why The Third Quarter US Economic Rebound Will Falter By Jack Rasmus, Predicting the Global Economic Crisis. July 8, 2020 Why The Third Quarter US Economic Rebound Will Falter2020-07-082020-07-08https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/07/economic-collapse-from-return-of-kings.jpg200px200px Above photo: Economic Collapse from Return of Kings. The reopening of the US economy in June—and some states as early as May—has produced a modest economic ‘rebound’. But rebound is not to be confused with economic recovery. The current rebound is the natural result of the US economy collapsing 40% between March and June 2020. In the first quarter, January-March 2020, the US economy contracted 5%, virtually all of that in March. While the […]
John Kavanagh, a Republican member of the Arizona House of Representatives, who represents District 23, has spoken out on how the Covid-19 pandemic has affected the electoral chances of the GOP in the state as well as nationwide and has suggested that despite the pandemic-inflicted economic issues, President Trump still can win the upcoming election. Sputnik: Your primary is scheduled for the 4th of August. What are the main challenges and issues the people of Arizona and your district are facing right now? John Kavanagh: Well, this is a primary, which means that we’re all Republicans in the primary. So we’re […]
A leading economist shares why crisis-time central bank policies are saving zombie companies while hurting small businesses and startups. Our main discussion is with Daniel Lacalle. Daniel is chief economist at Tressis and is the author of numerous books including “Life in the Financial Markets,” “Escape from the Central Bank Trap” and his most recent, “Freedom or Equality.” He has been named one of the 100 most influential economists in the world by Richtopia. In this conversation, he and NLW discuss: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides […]
On Sunday, Iran’s president accused the country’s foreign enemies of mounting a “complicated psychological operation” targeting Iran’s currency, the rial, saying that the action was aimed at undermining the Islamic Republic’s move toward an economy that’s free of dependence on oil exports. A group of 120 lawmakers from Iran’s 290-member Islamic Consultative Assembly parliament have signed a motion to question President Hassan Rouhani over economic difficulties facing the country, as well as Europe’s failure to implement the 2015 nuclear deal, Tasnim News Agency has reported. “The lawmakers have various questions for the president, including the reasons behind the foreign exchange market […]
The UK’s central bank has recently improved its assessment of the cumulative GDP loss in 2020 from 17 percent to 8 percent, as the easing of lockdown restrictions have driven up demand and economic activity. The Bank of England’s chief economist Andy Haldane has said that Britain is on track for a V-shaped economic recovery after a faster-than-expected rebound from the coronavirus slump. The UK economy was already two months into the recovery amid pent-up demand and consumer spending, Haldane said in a Bank webinar on Tuesday. “It is early, but my reading of the evidence is so far, so V,” […]
The European Union is preparing a new cryptocurrency regime that could include stricter requirements for “global stablecoin” projects such as Libra. The bloc’s lead economics minister, Valdis Dombrovskis – or to give him his full title, the European Union’s Executive Vice President of the European Commission for An Economy that Works for People – said Europe had to seize the opportunity to become one of the main rule-makers for digital finance. “This is a good chance for Europe to strengthen its international standing and to become a global standard-setter, with European companies leading new technologies for digital finance,” he said during […]
The World Health Organisation (WHO) on 21 June reported the largest single-day increase in COVID-19 cases since the start of the pandemic, with over 183,000 new infections registered in the previous 24 hours, sparking market concerns and diminishing hopes for a swift global economic rebound. Markets on Monday responded to news of a surge in COVID-19 cases announced by the World Health Organisation, with gold prices on an upswing, reaching their June peak, Reuters reports. The spot price for gold was up 0.7 percent to $1,754.74 per ounce by 2:25 a.m. GMT. The precious metal’s value hit its highest point since 18 […]
Act On Dr. King’s Call To Tackle Evils Of Racism, Economic Exploitation And War By Alice Slater, In-Depth News. June 16, 2020 Act On Dr. King’s Call To Tackle Evils Of Racism, Economic Exploitation And War2020-06-162020-06-16https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/06/martin-luther-king-jr.-from-cnn-e1592327720144.jpg200px200px Above photo: Martin Luther King, Jr. from CNN. The Stockholm International Peace Research Institute (SIPRI) just issued its 2020 Yearbook, reporting on developments in armaments, disarmament, and international security. In light of the drumbeat of frightening news about growing hostility between the dominant nuclear-armed states vying for power, SIPRI describes a bleak outlook for arms control. It notes ongoing nuclear weapons modernization and new weapons development, space weaponization moving […]
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French President Emmanuel Macron has announced the next stage of easing coronavirus restrictions in a televised address, two weeks ahead of delayed local elections which do not look promising for his party. The president attempted to lighten the mood of his fellow citizens by telling them France enters the “Green Zone” – a lower state of alert over the epidemic – starting Monday. That means that Paris restaurants in particular can now operate as normal, he said. “The fight against the epidemic is not finished but I am happy about this first victory against the virus,” Macron stated. He also promised […]
https://cdn1.img.sputniknews.com/img/107956/05/1079560550_0:0:3072:1728_1200x675_80_0_0_72beddc34d60c7c8eb5e2d2bb6392479.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/business/202006091079560516-us-officially-fell-into-recession-in-february-amid-coronavirus-pandemic-economic-bureau-says/ WASHINGTON (Sputnik) – The National Bureau of Economic Research said in a report that the United States officially fell into a recession in February when the country began to feel the effects of the measures imposed to fight the novel coronavirus outbreak. “The Business Cycle Dating Committee has determined that a peak in monthly economic activity occurred in the US economy in February 2020”, the report said on Monday. “The peak marks the end of the expansion that began in June 2009 and the beginning of a recession”. The Bureau said the economic growth […]
President Trump proposes changes to the National Environmental Policy Act in January. His latest executive order allows agencies to waive requirements of the bedrock law to speed up infrastructure projects. Evan Vucci/AP hide caption toggle caption Evan Vucci/AP President Trump proposes changes to the National Environmental Policy Act in January. His latest executive order allows agencies to waive requirements of the bedrock law to speed up infrastructure projects. Evan Vucci/AP President Trump is directing federal agencies to bypass requirements of some of the country’s most significant environmental laws. The stated goal is to fast-track big new infrastructure projects to boost the […]
Last week, Minneapolis police officers killed a 46-year-old black man accused of buying cigarettes with a counterfeit $20 bill. Ongoing protests have erupted across the country, condemning police brutality and systemic racism. Part of this conversation – taking place on the streets, over the airwaves and in people’s homes – is that economic inequality is what separates black Americans from the rest of the nation. In Minneapolis, for example, the median income for black households is $38,200, less than half of their white counterparts. Like everywhere else, the protests are also a divisive issue in the crypto ecosystem. There is, however, […]
Bitcoin (BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours. After Tuesday’s rapid 8% drop in less than five minutes on high sell volume, bitcoin’s prices have steadied. At 00:00 UTC on Wednesday, the world’s largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment. Bitcoin trading on Coinbase […]
US 01:36 GMT 03.06.2020Get short URL In its 2020 annual report on international religious freedom, the United States Commission on International Religious Freedom (USCIRF) has claimed that several nations, including Russia, China, Iran and, for the first time, India, should be included in the list of so-called “countries of particular concern”. US President Donald Trump on Tuesday signed an executive order that directs the US State Department to take action “ensuring” religious freedom in countries that are identified by the US as violating the freedom to adhere to one’s faith of choice. The newly introduced order envisages a yearly budget of […]
Bilal Chaudhry, 16, picks up a dozen eggs to give to a person in a car during a free egg distribution in Cumru Township, PA. The distribution was held to help people during the COVID-19 outbreak. MediaNews Group via Getty Images hide caption toggle caption MediaNews Group via Getty Images Bilal Chaudhry, 16, picks up a dozen eggs to give to a person in a car during a free egg distribution in Cumru Township, PA. The distribution was held to help people during the COVID-19 outbreak. MediaNews Group via Getty Images We don’t always behave the way economic models say we […]
Lex Sokolin, a CoinDesk columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter. The hard thing about abundance is making a choice. We live in a time of the broadest set of economic, social and political thinking, available to all at any time. But when the world’s most important macroeconomic investor, Ray Dalio, publishes a deeply researched description of the money markets and a forward view of the impact on American Empire, all we have to do is listen and learn. It is all available here, for free. What makes […]
Racial Health And Economic Disparities Are Two Sides Of The Same Coin By Dedrick Asante-Muhammad and Sally Sim, Inequality. May 17, 2020 Racial Health And Economic Disparities Are Two Sides Of The Same Coin2020-05-172020-05-17https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/05/food-e1589728661339.jpg200px200px Above photo: Paul W. Gillespie/Capital Gazette. Covid-19 continues to aggravate deeply embedded inequalities. We need bold policy solutions aimed at bridging the racial wealth divide now more than ever. In Baltimore, like in the rest of the United States, Covid-19 exacerbates racial inequality and economic marginalization. The legacy of discrimination and the continued corruption and disenfranchisement take shape in the city’s biggest issues – homelessness, food insecurity, crime, poverty, and […]
Unemployed people wait outside the state Labor Bureau in New York City in 1933. The current economic crisis has drawn comparisons to the Great Depression, but experts say this downturn should be shorter. AP hide caption toggle caption AP Unemployed people wait outside the state Labor Bureau in New York City in 1933. The current economic crisis has drawn comparisons to the Great Depression, but experts say this downturn should be shorter. AP With the U.S. economy in free-fall, a lot of forecasters have been digging deep into the history books, looking for a guideposts of what to expect. Often, they’ve […]
Pier Fries in Old Orchard Beach, Maine, was open and serving recently, but a few restaurants have announced they will close permanently. Fred Bever/Maine Public Radio hide caption toggle caption Fred Bever/Maine Public Radio Pier Fries in Old Orchard Beach, Maine, was open and serving recently, but a few restaurants have announced they will close permanently. Fred Bever/Maine Public Radio Maine has seen one of the country’s lowest rates of hospitalization and deaths from COVID-19, and the lowest in the entire Northeast. But its economy relies heavily on summer visitors — many from states where the virus is still rampant. With […]
Top Shelf On Wednesday we learned less than a 1% of the total suspicious activity reports filed with the Financial Crimes Enforcement Network since 2013 were crypto-related. Speaking at a workshop on FATF’s Travel Rule, FinCEN Director Kenneth Blanco said the financial watchdog uses these reports to map out IP and wallet addresses that are linked to potential criminals. Other speakers pointed out such regulations may violate the Fourth Amendment, which protects against surveillance without cause. You’re reading Blockchain Bites: Consensus Edition a twice daily roundup of all the notable news out of Consensus: Distributed. You can sign up for this, and all of CoinDesk’s newsletters here. The debate between privacy […]
World 01:55 GMT 15.05.2020Get short URL https://cdn1.img.sputniknews.com/img/107844/34/1078443423_0:138:2801:1713_1200x675_80_0_0_275db2ff462217232792c5e59d34ef65.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/world/202005151079309153-pope-francis-donates-200000-to-scholarships-in-lebanon-amid-economic-crisis/ VATICAN CITY (Sputnik) – Pope Francis has decided to allocate $200,000 to support 400 scholarships in Lebanon, which has been facing an acute financial crisis, the Holy See said on Thursday in a press release. “As a tangible sign of his closeness, the Holy Father, through the Secretariat of State and the Congregation for the Eastern Churches, has decided to send to the Apostolic Nunciature the sum of USD 200,000 to support 400 scholarships in Lebanon, in the hope of achieving a gesture of solidarity and with the […]
Low-Balling The Unemployed In The 2020 Economic Collapse By Jack Rasmus, Predicting the Global Economic Crisis. May 12, 2020 Low-Balling The Unemployed In The 2020 Economic Collapse2020-05-122020-05-12https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/05/jobless-claims-arrow-up-e1589302151987.png200px200px Above photo: From Yahoo.com. This past Friday, May 8, the US Labor Dept. released its latest jobless figures. The official report was 20 million more unemployed and an unemployment rate of 14.7%. Both mainstream and progressive media reported the numbers: 20 million more jobless and 14.7%. But those numbers, as horrendous as they are, represent a gross under-estimation of the jobless situation in America! One might understand why the mainstream media consistently under-reports the […]
Fox News Sunday anchor Chris Wallace pressed Treasury Secretary Steve Mnuchin on his overly optimistic outlook for the economy in the second half of the year, directly asking Mnuchin on Sunday if his “rosy predictions” were based more on the upcoming presidential election rather than reality. Discussing April’s devastating jobs report that saw the unemployment figure jumping up to nearly 15 percent, Wallace kicked off his Sunday interview with Mnuchin by noting that the numbers don’t reflect the seven million jobs lost since mid-April or the millions of Americans who are underemployed and not looking for work. “So Mr. Secretary, what […]
While the world’s second-largest economy, China, has suffered its first contraction on record due to the Covid-19 pandemic, some experts argue the country has been preparing for a possible crisis for a long time. RT talked to economists to find out if Beijing may have foreseen the economic crash and about the Chinese government’s response to it. “Nobody, including Beijing, could have foreseen the depth and gravity of this pandemic, specifically the cryptic transmission parameters by which the Covid-19 virus spreads. It is truly a once-in-100-year pandemic event,” said Sourabh Gupta, senior fellow at the Institute for China-America Studies. According to […]
Finland is one of the least-hit Nordic nations amid the ongoing pandemic, with 5,412 confirmed COVID-19 cases and 246 deaths; it has already started to lift the restrictions, but pundits predict a grim economic outlook. The coronavirus epidemic and the ensuing stern measures, including massive shutdowns and lockdowns, will have resounding economic repercussions, robbing Finland of decades of profits, Risto Murto, the CEO of Varma Mutual Pension Insurance Company, has warned. In his analysis of the economic ramifications of the pandemic in his column for the Oulu-based newspaper Kaleva, Murto forecasted that Finland will have to tackle the outbreak throughout this […]