By Nick Beams, 15 June 2017
The overriding message was that low economic growth, falling consumption spending and the spread of part-time and casual work represent the new normal.
10 June 2017
By Nick Beams, 10 June 2017
Structural changes in the European economy mean low wages along with part-time and casual employment are becoming the “new normal.”
By Mike Head, 8 June 2017
Without spending by deeply-indebted households, the country would officially be in recession.
By Josh Varlin, 7 June 2017
A recent Federal Reserve study found that almost a third of adults have a variable income from month to month, which makes financial planning nearly impossible.
By Nick Beams, 6 June 2017
Far-reaching structural changes in the economy, above all the rise of low-paid part-time labour, have undermined the assumptions on which the Fed’s policies have been based.
By Gabriel Black, 5 June 2017
A new report by economist Gabriel Zucman argues that global inequality is significantly worse than shown in official estimates because of rampant tax evasion by the financial elite.
By Shannon Jones, 3 June 2017
General Motors announced 300 job cuts at its Warren, Michigan transmission plant amid continuing signs of a slowdown in US auto sales after a seven-year boom.
By Joy Bose and Kranti Kumara, 3 June 2017
According to industry reports, India’s IT sector could eliminate 600,000 jobs over the next three years.
31 May 2017
By Nick Beams, 29 May 2017
While there have been divergences at previous G7 meetings, this year the participants were unable to paper over their differences in the final communiqué.
By Peter Schwarz, 27 May 2017
Nearly a decade after the 2008 financial crisis, the conflicting interests among the imperialist powers have reached a point at which they can no longer be reconciled through talks and diplomacy.
By Nick Beams, 26 May 2017
The sharp reaction of the Chinese finance ministry to the Moody’s downgrade decision signifies that that economic and political contradictions facing the Xi Jinping regime are increasing.
By Jerry White, 23 May 2017
The management reshuffling at the number two US automaker, described in industry circles as a “coup,” underscores the complete domination of the banks and financial speculators.
23 May 2017
By Roger Jordan, 22 May 2017
The Trump administration is aggressively pursuing its “America first” agenda, renegotiating the agreement as economic protectionism grows around the world.
By Nick Beams, 22 May 2017
Held over the weekend, the meeting of trade ministers from the 21 members of APEC abandoned any commitment to resist protectionism.
By Nick Beams, 19 May 2017
US productivity growth is running at around one third its level before the global financial crisis of 2008.
By Jerry White, 17 May 2017
The job cuts explode the myth propagated by the Trump administration and the news media about the US economy reaching “full employment.”
By Shelley Connor, 17 May 2017
The wealthiest 25 managers earned $11 billion last year while hedge funds yielded meager returns for investors.
By Nick Beams, 16 May 2017
In launching the initiative, Chinese president Xi Jinping emphasised the need for “win-win co-operation,” but there are significant tensions surrounding the project.
By Anthony del Olmo, 15 May 2017
The rise in rates is an outcome of the stock market boom following Trump’s election, and comes at a time when the plight of students continues to worsen.
By Nick Beams, 12 May 2017
Apple’s market valuation and cash holdings illustrate a major shift in the mode of profit accumulation and how share values increasingly result from financial manipulation.
By Shannon Jones, 11 May 2017
Higher auto profits are being accompanied by job cuts as management intensifies its assault on autoworkers.
By Barry Grey, 9 May 2017
At the heart of the corporate profit bonanza is an ongoing drive to cut costs by holding down wages, cutting jobs and slashing spending on new plants and equipment.
By Kathleen Martin, 5 May 2017
Higher education, seen as a key to social mobility in the US, is becoming increasingly unattainable to a growing section of the American working class.
By Nick Beams, 5 May 2017
There is conjecture about what Apple intends to do with its cash pile, but one thing is certain: it will be used for forms of speculation and financial manipulation.
May Day 2017
By Nick Beams, 2 May 2017
The historic crisis of the global capitalist system is now producing the very conditions that led to the economic conflicts of the 1930s and the eruption of war in 1939.
By Barry Grey, 2 May 2017
Republicans hailed the agreement as a down payment on Trump’s demands for a $54 billion increase in the Pentagon budget to be paid for with cuts in social programs.
By Debra Watson, 1 May 2017
Michigan had an official poverty rate of 22.2 percent in 2015, more than at the end of the first full year of the 2008 recession.
By Barry Grey, 29 April 2017
Friday’s report underscores the disconnect between the rising fortunes of the corporate oligarchy and the continuing fall in living standards for broad sections of the population.
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.