By Natalia Renta | – ( Inequality.org ) – In the wake of recent Tesla Takedown protests at hundreds of dealerships across the country, financial officers on both sides of the political aisle weighed in on how to address Tesla’s tanking share price. New York City Comptroller Brad Lander called for accountability from Elon Musk […]
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Market Crash
Is Trump a Bigger Threat to America than Usama Bin Laden and al-Qaeda?
Ann Arbor (Informed Comment) – Donald Trump has inflicted more damage on the United States’s markets than did Usam Bin Laden and al-Qaeda on 9/11. The attacks of that date caused the US financial authorities to to close down the NYSE and the Nasdaq for a week, until September 17. This was unprecedented. When trading […]
Is the Russian Economy headed for Collapse?
By Eric Werker, Simon Fraser University | – (The Conversation) – To justify invading Ukraine, Vladimir Putin has painted Russia as a hegemonic power re-asserting its rightful claim to imperial greatness. Yet even before the invasion, Russia’s economic capabilities were hardly capable of sustaining an empire. Now, with foreign sanctions presiding over a plummeting Russian […]
After oil: what Malaysia and Iran may look like in a post-Fossil Fuel Future
By Rowena Abdul Razak, London School of Economics and Political Science and Asma Mehan, Texas Tech University | – As the devastation of climate change makes the need to decarbonise clearer by the day, countries face the question of what to do with their old fossil fuel infrastructure. While some environmental activists have taken to […]
Turkey’s currency crisis is a textbook example of what not to do with interest rates
By Gulcin Ozkan | – Central banks around the globe are currently staring at inflation rates unseen in more than 20 years. Supply chain problems and labour shortages arising from the pandemic, combined with sharply rising food and energy prices, have pushed prices up by as much as 6.2% in the US, 4.2% in the […]
The Collapse of Turkey’s Currency fuels Power Struggle
By Bakr Sidqi | – ( Middle East Monitor ) – On what was called “Black Tuesday” in the media this week, the value of the Turkish lira against foreign currencies declined sharply, bringing the exchange rate to 13.5 Turkish liras to the US dollar. While experts on the matter in Turkey and elsewhere are […]
Our Future vs. Neoliberalism
( Code Pink) – In country after country around the world, people are rising up to challenge entrenched, failing neoliberal political and economic systems, with mixed but sometimes promising results. Progressive leaders in the U.S. Congress are refusing to back down on the Democrats’ promises to American voters to reduce poverty, expand rights to healthcare, […]
As Banks threaten to Collapse and Aid Dwindles, 93% of Afghans already don’t get Sufficient Food
Ann Arbor (Informed Comment) – UN World Food Program surveys in August and September, Al Jazeera reports, found that 93 percent of Afghans already are not getting sufficient food, for the most part because they lack the cash to purchase it. Things are about to get worse, as Afghanistan under the Taliban is cut off […]
On Labor Day, Poverty for Workers has fallen from 12.8% to 8.5%
Revised. Ann Arbor (Informed Comment) – This Labor Day, American workers finally have something have to celebrate, by virtue of having voted for a Democratic president and Congress. The pandemic-driven labor shortage has raised wages. Direct payments from the government, including an expanded child tax credit and expanded unemployment benefits added $3,200 to the income […]