Economy

Trump’s War on the Fed

President Trump has stepped up his criticism of the Federal Reserve, saying of its aggressive interest rate hikes that it has “gone crazy.” The same charge has been leveled against Trump, but there may be a method to his madness . . . .  

Why we’re blind to the system destroying us

The only truth we can know is that the western power-elite is determined to finish the task of making its power fully global, expanding it from near-absolute to absolute. It cares nothing for you or your grand-children. It is a cold-calculating system, not a friend or neighbour. It lives for the instant gratification of wealth accumulation, not concern about the planet’s fate tomorrow.

America is In a Debt Trap Death Spiral

The US economy and its financial structures have never recovered from the great financial meltdown of 2008 despite the passage of ten years. Little discussion has been given to the fact that the Republican Congress last year abandoned the process of mandatory budget cuts or automatic sequestration that had been voted in a feeble attempt to rein in the dramatic rise in US government debt.

Russia and China Challenge Dollar Domination

The Russian government has recently announced it will issue nearly $1 billion equivalent in state bonds, but denominated not in US dollars as is mostly the case. Rather it will be the first sale of Russian bonds in China’s yuan. While $1 billion may not sound like much when compared with the Peoples’ Bank of China total holdings of US Government debt of more than $1 trillion or to the US Federal debt today of over $20 trillion, it’s significance lies beyond the nominal amount.

“The West, EU, US aggravate Syrian people’s suffering by sanctions”

The Irish politician Clare Daly, who recently visited Syria along with European delegation, has affirmed that the West and the European Union are aggravating the Syrian people’s suffering by sanctions and the U.S. support for Saudi Arabia and Israel in the region. “It is not up to anybody other than the Syrian people to decide their representation”

How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders

Italy’s non-performing loans (NPLs) then stood at €210bn, at a time when the ECB was buying €120bn per year of outstanding Italian government bonds as part of its QE program. The July 2016 Financial Times quoted Goldman’s Francesco Garzarelli, who said, “by the time QE is over – not sooner than end 2017, on our baseline scenario – around a fifth of Italy’s public debt will be sitting on the Bank of Italy’s balance sheet.”