Category: Economy
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Italy and Greece: Rule by the Bankers
It looks as though, by Monday, both Greece and Italy will be ruled by so-called ‘technocratic’ governments. Even though both Greek prime minister George Papandreou and Italian prime minister Silvio … Keep reading »
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Corporations Occupy Fair Trade
Over the past few weeks the Occupy Wall Street (OWS) movement has shone the spotlight on corporate power and social inequality, and calls have begun to emerge from within the … Keep reading »
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Greece on the Brink of Emergency: A Matter of Days
In Greece a number of factors stand out, suggesting that Greece is on the verge of some major changes. The disruption of basic operations of the state in conjunction with … Keep reading »
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Follow the Money: Behind the European Debt Crisis Lie More Bank Bailouts
While I was cursing the inane mainstream commentary on the global economy recently, I was reminded of a pivotal scene in the 1976 movie, All the President’s Men. As two … Keep reading »
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The Size Of The U.S. Public Debt
Are The Rating Agencies Fools or Knaves? It is quite possible that you believe that the U.S. public debt is quite large. You may even think that it is dangerously large, … Keep reading »
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Feral Capitalism Hits The Streets
“Nihilistic and feral teenagers” the Daily Mail called them: the crazy youths from all walks of life who raced around the streets mindlessly and desperately hurling bricks, stones and bottles … Keep reading »
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Eurozone Debt Crisis on the Road to Credit Crunch II?
The public debt crisis that is currently at its deepest in the Eurozone has its roots in the general crisis of capitalism. To attempt to solve capitalism’s crisis of the … Keep reading »
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Public Sector Austerity: Why is Canada Leading the Way?
The major economic problem faced by Canadians is a very slow recovery and weak job market, not government deficits or rising debt. But public spending cuts at the federal and … Keep reading »
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The Deficit Battle
The tension mounts as President Barack Obama and Speaker of the House John Boehner appear locked in a battle over how best to slash the federal deficit. The Treasury Department … Keep reading »
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Bail Out Financial Speculators, But Not Social Security or Medicare
Financial crashes were well understood for a hundred years after they became a normal financial phenomenon in the mid-19th century. Much like the buildup of plaque deposits in human veins … Keep reading »
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Why Recent Bad Economic News Means It’s Time for Working Less
The economic news of the last few weeks has not been encouraging. In Europe, the various national debt crises remain unresolved, with a continued monopoly of banker-friendly austerity programs, and … Keep reading »
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Globalization And Its Consequences
Although capitalism has always been a global system, the international integration of production and finance and our dependence on cross-border activities seems greater than ever before. At the risk of … Keep reading »