By Nick Beams, 28 April 2017
The Trump administration has signalled that it will take an aggressive economic nationalist stance in negotiations on NAFTA after making moves to withdraw altogether.
By Patrick Martin, 27 April 2017
The proposal unveiled Wednesday would channel trillions of dollars into the pockets of the financial elite at the expense of social programs and working class living standards.
By Gustav Kemper, 25 April 2017
Since the beginning of 2017, the two rail companies have been engaged in secret merger negotiations behind the backs of their employees.
By Nick Beams, 24 April 2017
Pledges to “resist protectionism,” long included in statements issued by the world’s major global economic institutions, are now regarded as too controversial.
By Nick Beams, 22 April 2017
The stock market has lifted but consumer spending is falling and industrial production is flat.
By Roger Jordan, 22 April 2017
Trump’s sharp criticism of Canada over its trading practices in a number of economic sectors prompted a conciliatory response from Ottawa.
By Kathleen Martin, 22 April 2017
Research released by the Psychiatric Services journal indicates disturbing growth of psychological distress in the United States, correlating directly to the continuing economic crisis.
By Nick Beams, 20 April 2017
The IMF reports make clear that none of the underlying problems that have beset the world economy since the eruption of the global financial crisis in 2008 has been resolved.
By Nick Beams, 18 April 2017
While forecasting a “cyclical recovery”, IMF managing director, Christine Lagarde has said a “sword of protectionism” hangs over the world economy.
By Gabriel Black, 17 April 2017
Unbridled speculation and a shift towards high-tech products, like automated cars, explains the electric car manufacturer’s seemingly absurd valuation.
By Nick Beams, 15 April 2017
There is no meaningful distinction between industrial and finance capital because, in the end, all capital is finance capital, an important study has found.
By Jean Shaoul, 13 April 2017
The Libor scandal revealed not only the criminality of the global financial system centred in London, but the massive web of corruption and complicity involving governments and financial regulators the world over.
By Nick Beams, 12 April 2017
The IMF analysis of labour’s share of income is consistent with the essential logic of capital as revealed by Marx.
By Niles Niemuth, 12 April 2017
Along with mounting store closures, retailers eliminated nearly 60,000 jobs in February and March, making it the worst two-month period for the retail sector since 2008.
By Nick Beams, 11 April 2017
Trump officials struck a conciliatory tone following discussions on trade with Chinese president Xi Jinping, but Commerce Secretary Wilbur Ross said he expected “tangible results.”
By Kate Randall, 11 April 2017
Income-based disparities in US life expectancy are worsened by the for-profit US health care system.
By J. Cooper, 11 April 2017
Wall Street is concerned at the surge in auto loan defaults, a further indication that the sales boom of recent years is winding down.
By Shannon Jones, 8 April 2017
The worst job numbers since May 2016 underscore the disconnect between surging stock prices and the underlying economy, and the fraud of Trump’s “jobs” agenda.
By Nick Beams, 1 April 2017
US President Donald Trump signed two protectionist executive orders Friday, signalling a return to the kind of measures that proved so disastrous in the 1930s.
By Nick Beams, 30 March 2017
Two major international economic organisations, the IMF and the OECD, have voiced concerns about the impact of the US protectionist trade agenda on the stability of the world economy.
By Nick Beams, 24 March 2017
The post-World War II economic and trading order, constructed in the main by the US, was the product of a push to prevent the kind of protectionist and trade war measures that led to the Second World War.
By Barry Grey, 23 March 2017
Whatever the short-term trend on the financial markets, Tuesday’s downturn reflected the underlying unsustainability of the massively inflated stock valuations.
By Shannon Jones, 22 March 2017
In 2016 the combined wealth of the world’s richest individuals rose 18 percent to a staggering $7.67 trillion.
By Nick Beams, 20 March 2017
While attempts were made by G20 finance ministers to downplay the significance of the breach with the US, the decision to drop resistance to protectionism is a significant step towards a global trade war.
By James Cogan, 18 March 2017
Despite concerns expressed about protectionism, the most obvious feature of the Chile summit was the manner in which various states pursued their own national trade agendas.
By Patrick Martin, 17 March 2017
The budget proposes to increase spending on the military and homeland security by nearly $60 billion, while slashing spending on the environment and social programs.
By Nick Beams, 16 March 2017
The US stock markets rose after the Federal Reserve increased interest rates by 0.25 percent but concerns were voiced over the divergence between the world’s three major central banks.
By James Brewer, 11 March 2017
This announcement follows on the heels of thousands of job losses, giving the lie to the optimistic jobs report by the Labor Department.
By Nick Beams, 10 March 2017
The ECB retained its negative base interest rate, placing it on a divergent path from the US Federal Reserve.
By Nick Beams, 7 March 2017
The Trump administration has issued a document making clear that it is taking aim at the World Trade Organisation and agreements that have governed international trade in the post-World War II period.
By Nick Beams, 6 March 2017
The Chinese government has cut its target in an attempt to address growing problems in the country’s financial system.
By Nick Beams, 3 March 2017
The massive rise in Snap Inc. stock took place amidst a surge in US markets, which has seen $3 trillion added to share values since the election of Trump.
By Nick Beams, 28 February 2017
The objective logic of Trump’s agenda of economic war, based on “America First” leads inexorably to military conflict.
By Nick Beams, 23 February 2017
A World Bank report found that growing political uncertainty was a significant factor in the further decline in world trade growth in 2016.
By Saman Gunadasa, 22 February 2017
The country has been severely hit by the continuing global downturn and a prolonged drought that has destroyed key crops and driven up the prices of staple foods.
By Nick Beams, 21 February 2017
Speaking on behalf of European capital, the London-based Financial Times has described the trade policies of the Trump administration as a “clear and present danger” to the global trading and monetary system.
By Barry Grey, 15 February 2017
While Yellen defended the Dodd-Frank banking law, she repeatedly stated her support for “mitigating” the regulatory “burden” on financial firms.
By Patrick Martin, 14 February 2017
The vote came as the stock market roared ahead, hailing Trump’s promises of a bonanza for US corporations and banks through the cutting of taxes and regulations.
By Jerry White, 8 February 2017
GM is doling out $14 billion in stock buybacks even as it lays off 3,300 workers in Michigan and Ohio.
By Barry Grey, 4 February 2017
Nothing could more clearly expose the farce of Trump's pretensions to be a champion of the American worker than his drive to lift all restraints on the financial oligarchy.
By Barry Grey, 2 February 2017
The central bank's deliberations were dominated by uncertainty over the course of both the US and world economy as a result of Trump's "America First" trade and monetary policies.
By Nick Beams, 30 January 2017
The lowest US growth rate in five years and the record 20,000 high for the Dow highlight the ever-widening disconnect between the financial system and the underlying economy.
By Barry Grey, 26 January 2017
The surge was buoyed by Trump’s promises of massive tax cuts for corporations and the rich, the wholesale lifting of business regulations, a massive expansion of military spending, and the prospect of a full-scale attack on social programs.
By Mike Head, 23 January 2017
Ending the Trans-Pacific Partnership is not a retreat into US isolationism but a ramping up of the offensive, commenced under Obama, to reassert American hegemony in Asia.
By Roger Jordan and Keith Jones, 21 January 2017
The Trudeau Liberal government intends to deepen Canada’s military-strategic cooperation with Washington so as to ensure privileged market access for Canada in a Trump-led America.
By Nick Beams, 21 January 2017
The atmosphere at the World Economic Forum was a mixture of bewilderment over the disintegration of the present global order, coupled with fears as to where it might be leading.
By Nick Beams, 19 January 2017
Trump’s remarks to the Wall Street Journal were in line with the anti-China rhetoric that marked his election campaign.
By Kranti Kumara, 18 January 2017
Demonitisation has forced farmers to sell to wholesalers at fire-sale prices, depressed consumer demand, and led cash-short employers to lay off workers en masse.
Oxfam issues report on eve of Davos conference
By Nick Beams, 17 January 2017
The report, released as the world’s billionaires converge on Davos, Switzerland, reveals that global inequality is even more pronounced than previously recognized.
By Shelley Connor, 16 January 2017
While the media glowingly reviews Obama’s legacy over the last eight years, sobering reports point to significant declines in living standards among young people.
In wake of Trump election victory
By Gabriel Black, 16 January 2017
Bank share prices and profits have surged in anticipation of the installation of Trump, who has packed his cabinet with Wall Street insiders and pledged to remove regulations.
By Nick Beams, 14 January 2017
The central theme of the World Economic Forum report for this year’s annual gathering of the global elites is that the very legitimacy of “market capitalism” is being called into question.
By Nick Beams, 11 January 2017
The United States was the guarantor of the post-war economic order based on the lowering of tariffs and trade barriers under the rubric of “free trade,” but Trump’s “America First” agenda signals the collapse of that order.
By Jerry White, 9 January 2017
The Ohio-based retailer The Limited’s decision to close 250 stores and eliminate 4,000 jobs follows store-closing announcements by Macy’s and Sears.
By Tom Hall, 7 January 2017
The December jobs report for the Bureau of Labor Statistics (BLS) showed that the American economy added 156,000 jobs last month, less than the 175,000 expected by economists.
By Niles Niemuth, 6 January 2017
The closings and layoffs are an indication of the actual state of the economy, more than seven years after the beginning of the supposed economic “recovery.”
By Nick Beams, 6 January 2017
The Federal Reserve open market committee forecast a gradual rise in interest rates, and made clear it would take action to prevent wages from rising substantially.
By Nick Beams, 29 December 2016
US billionaires alone have increased their wealth by $77 billion due to the rise in the stock market since the election of Trump less than two months ago.
By Andre Damon, 24 December 2016
The vast scale of global violence this past year will be eclipsed only by what next year threatens to bring.
By Nick Barrickman, 22 December 2016
Recent reports reveal that homeownership levels for young people have dropped to record lows in the years following the 2008 financial crisis.
By Jerry White, 21 December 2016
In its latest layoff announcement, the largest US automaker said it would eliminate the second shift at its Detroit-Hamtramck assembly plant, wiping out 1,200 jobs.
By Barry Grey, 21 December 2016
The American corporate elite anticipates that Trump will remove all constraints on its ability to plunder American society for personal gain.
By Alex Lantier, 20 December 2016
As French finance minister in 2008, Lagarde failed to do due diligence to oppose calls for a €400 million state payoff to corporate raider Bernard Tapie.
By Barry Grey, 15 December 2016
Despite the Fed’s pledge to keep interest rates below previous norms, there were indications that, in the face of Trump’s inflationary policies, it could move quickly in the opposite direction.
By Niles Niemuth, 12 December 2016
It is the social catastrophe, rooted in the decline of American capitalism, that underlies the political crisis of both big-business parties and will lead to immense social convulsions.
By Nick Beams, 12 December 2016
The chief component in the rise in the Dow over the past month has been a 33 percent surge in shares of Goldman Sachs, accounting for 29 percent of the stock index’s ascent.
By Nick Beams, 10 December 2016
The move increases the odds of a government bailout that would impose major losses on small investors and bondholders.
By Nick Beams, 9 December 2016
President Mario Draghi emphasised that “uncertainty prevails everywhere” and it was very difficult to assess the long-term impact of the “radically new administration” in the US.
By Marianne Arens, 8 December 2016
Italy’s Senate voted in favour of the budget and thus cleared the way for Renzi’s resignation.
By Julie Hyland, 7 December 2016
Following seven years of austerity, the EU insists that Athens impose an extra €4.2 billion in austerity savings and further labour reforms, including abolishing collective bargaining.
By Bill Van Auken, 5 December 2016
The legislation, which won overwhelming bipartisan approval, also bars the shutdown of the American prison camp at Guantanamo Bay, Cuba.
By Joe McGee, 5 December 2016
The state’s most vulnerable residents will be hit with an $11 million cut in public schools and a supposed one-time reduction of $25 million to Medicaid.
By Niles Niemuth, 3 December 2016
Even as the official unemployment rate continues to fall, wage growth remains limited and the labor force participation rate for working-age adults is far below what it was before 2009.
By Nick Beams, 1 December 2016
The OPEC negotiations were marked by considerable tension, with warnings that oil price could fall to as low as $20 per barrel if no agreement were reached.
By Nick Beams, 29 November 2016
Finance capital sees the referendum as a test of whether Prime Minister Renzi can push though “market restructuring” of the banking system and deepen attacks on the working class.
By Peter Symonds, 25 November 2016
Trump has not only sunk the Trans Pacific Partnership but called into question the entire basis of the post-World War II order in the Asia Pacific.
By Nick Beams, 24 November 2016
Trump’s agenda for the US economy bears a striking resemblance to his own business operations: a mixture of tax evasion, swindling and profit-gouging.
By Gabriel Black, 22 November 2016
The Pension Benefit Guaranty Corporation’s annual report points to the growing danger of a general collapse in the US pension system.
By Mike Head, 21 November 2016
The meeting was dominated by anxiety and uncertainty in the face of an incoming Trump administration based on protectionist and nationalist policies.
By Nick Beams, 19 November 2016
The rise in interest rates and US bond yields could have major international implications, particularly for emerging markets.
By Nick Beams, 14 November 2016
The decline in emerging bond and currency markets hit Latin America, South Africa and Asia, driven by fears of rising interest rates and protectionist measures in the US.
By Nick Beams, 11 November 2016
The sharp rise in stock prices is being driven both by Trump’s pro-corporate policies and the support he has received from the Democratic Party establishment.
By Nick Beams, 10 November 2016
After initial fears of a market plunge, Wall Street reached near-record highs as investors decided that Trump’s policies could provide a road to increased wealth.
By Barry Grey, 5 November 2016
The decline in the official unemployment rate to 4.9 percent was not the result of workers joining the labor force and finding jobs, but the departure of 425,000 more working-age Americans.
By Nick Beams, 3 November 2016
The US Federal Reserve kept interest rates on hold amid continuing uncertainty about the direction of policies in Europe and Japan.
By Nick Beams, 31 October 2016
Significant falls in the price of bonds last week could be the sign of greater turbulence to come amid uncertainty about the monetary policies of the world’s central banks.
By Barry Grey, 29 October 2016
The extraordinary level of mergers and the scale of the combinations are expressions of economic stagnation and the growth of financial parasitism.
By Genevieve Leigh, 29 October 2016
Up to 162 million individuals in the US and the EU work as contractors.
By Nick Beams, 27 October 2016
Chinese firms are estimated to have about $18 trillion worth of debt, equivalent to 170 percent of the country’s gross domestic product.
By Jordan Shilton, 27 October 2016
Whether or not the deal is ultimately ratified, the conflicts over CETA have again starkly exposed the advanced state of decomposition of the European Union.
By Deepal Jayasekera, 26 October 2016
India’s attempt to use the BRICS summit to isolate Pakistan met with stiff Chinese opposition—underscoring the hardening of the Indo-US and Sino-Pakistani alliances.
By Nick Beams, 26 October 2016
Despite the wealth of vitally important data, there was a paucity of historical and political analysis on how ever-widening social inequality can be overcome.
By Nick Beams, 25 October 2016
Facts and figures featured in the analysis conducted by French political economist Thomas Piketty underscore that there is no possibility of combating ever-growing social inequality other than by means of socialist revolution.
By Barry Grey, 24 October 2016
If the merger goes through, this quasi-state entity will be in a position to directly control the content of much of the news and entertainment accessed by the public.
By Nick Beams, 21 October 2016
The decision by the ECB not to indicate the future of its bond-buying program reflects deep divisions inside the central bank with growing opposition from Germany.
By Nick Beams, 17 October 2016
A conference convened by the Boston Federal Reserve revealed that neither the Fed nor bourgeois economics in general has an answer to the stagnation of the US and global economy.
By Nick Beams, 11 October 2016
The IMF meeting was dominated by the spectre of secular stagnation, global disintegration and the rising hostility of masses of people to the present economic and political order.
By Nick Beams, 8 October 2016
The currency’s sudden fall on Friday was a warning that capital inflows needed to finance the British current account deficit could dry up.
As geo-political and economic tensions mount
By Nick Beams, 7 October 2016
The International Monetary Fund said low and negative interest rates are reaching the limits of their effectiveness and could undermine the solvency of pension and insurance funds.
By Nick Beams, 5 October 2016
The International Monetary Fund has warned of a “deflationary trap” where further cuts in interest rates cannot provide a stimulus to the world economy.