Archiv: capital / capitalism


03.12.2022 - 19:47 [ Robert Reich, Berkeley professor, former Secretary of Labor / Nitter ]

Railroads made $21 billion in profits in the first 9 months of 2022. Guaranteeing 7 paid sick days to rail workers would cost the industry $321 million/year. That’s just 1.5% of those profits. Congress just rejected sick leave for these workers. It’s profits over everything.

03.12.2022 - 19:15 [ Fox News ]

‚Political pawns‘: Livid railway workers warn Biden’s union agreement will ‚definitely‘ impact next election

„I work for a Class 1 railroad that implemented one of the most egregious attendance policies (Hi-Viz) that requires us to be available to work 92% of the time per month,“ he said. „If we take off one day for a sickness, we are required to [work] 14 days straight to gain points back. That is why we are fighting tooth and nail for sick days.“

03.12.2022 - 19:10 [ Denver7 – The Denver Channel / Youtube ]

President Biden signs bill that averts rail strike despite opposition from unions

Dec 2, 2022

President Joe Biden signed a bill on Friday that prevents 12 rail unions from going on strike next week. The president signed the bill to head off a potentially crippling supply chain disruption in the weeks leading up to Christmas.

03.12.2022 - 18:19 [ CNBC ]

OPEC+ to consider deeper oil output cuts ahead of Russia sanctions and proposed price cap

OPEC and non-OPEC oil producers could impose deeper oil output cuts on Sunday, energy analysts said, as the influential energy alliance weighs the impact of a pending ban on Russia’s crude exports and a possible price cap on Russian oil.

OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy.

03.12.2022 - 18:09 [ BBC / Youtube ]

G7 and allies approve cap on price of Russian oil – BBC News

It comes after the EU agreed on the price cap after persuading Poland to back it.

The price cap was put forward by the G7 group of nations in September and aims to stop Moscow profiting from oil exports while avoiding a price spike.

01.12.2022 - 20:50 [ IndependentSocialistGroup.org ]

Protest Strikebreaker-In-Chief Biden in Boston!

Join Railroad Workers United (RWU), the Independent Socialist Group (ISG), and the Democratic Socialists of America (DSA) at a protest outside of Biden’s upcoming appearance in Boston. If you are in an organization that would like to endorse this event and is interested in speaking in support of railroad workers, contact:

Nick Wurst, RWU & ISG: 508-335-8633

Paul Bamberger, DSA: 518-860-9378

Day & Time: Friday 12/2 Picket starting 11:30am, Rally starting 12pm. Estimated end time 1:30pm.

Location: Biden will be visiting JFK Library at University Dr N, Boston, MA 02125 for an event. The picket and rally will be held at the corner of University Drive North and Colombia Point, on the parking lot side.

01.12.2022 - 20:22 [ More Perfect Union / Nitter ]

This railroad worker clearly & powerfully explains why workers need to have each other’s backs, ahead of a potential strike: „We’re all part of the working people that make society run…. Without us, nothing could happen. When one of us in under attack, we’re all under attack.“

01.12.2022 - 20:16 [ More Perfect Union - PerfectUnion.us ]

Railroad Strike Ahead? Rail Workers Just Want Sick Leave

Devin Mantz: I voted no on the contract because we deserve more.

Adam Smithey: It does not meet the requirements for quality of life that we need. We need time to sleep, we need time to rest, we need to enjoy our lives. We don’t have any of that now.

Matt Weaver: We’re considered essential employees, and we don’t have a single paid sick day to use when we’re off. We worked through the pandemic, we were considered essential, and now it seems like we’re expendable.

Dave Manning: If a person is sick, they shouldn’t have to use all of their paid days that they had to earn the previous year before to take a day off.

Matt Morty Mortenson: We’re constantly coming to work sick and exhausted.

Reece Murtagh: We routinely work 14 hours and longer every day.

Matt Morty Mortenson: We’ve currently lost 2 BMWED members in the past two weeks and they might have been here today with us if they would have just been able to rest and reset.

01.12.2022 - 20:07 [ Jonah Furman / Nitter ]

People need to understand that we’ve reached this point in rail bargaining because of a failed union strategy to rely entirely on Democratic Party leadership to get a deal, and to avoid anything that could threaten that strategy, from progressive legislation to going on strike

01.12.2022 - 19:59 [ theHill.com ]

Schumer pledges to keep senators in Washington until rail deal is done

“The Senate cannot leave until we get the job done, and Democrats will keep working with Republicans to find a path forward that everyone can support,” he announced on the Senate floor.

The Democratic leader began the so-called Rule 14 process on Wednesday evening to put a House-passed bill to avert the rail strike on the Senate calendar.

01.12.2022 - 19:53 [ @railroadworkers / Nitter ]

This is a legacy defining moment for Joe Biden. He is going down as one of the biggest disappointments in labor history.

(29.11.2022)

01.12.2022 - 19:40 [ White House ]

Statement from President Joe Biden on House Action to Avert Rail Shutdown

(30.11.2022)

This overwhelming bipartisan vote in the House of Representatives makes clear that Democrats and Republicans agree that a rail shutdown would be devastating to our economy and families across the country. The Senate must now act urgently. Without the certainty of a final vote to avoid a shutdown this week, railroads will begin to halt the movement of critical materials like chemicals to clean our drinking water as soon as this weekend.

01.12.2022 - 19:34 [ Steve Morris / Nitter ]

Rail workers: A single day of sick leave please CNN’s coverage today:

(29.11.2022)

01.12.2022 - 19:27 [ Democracy Now ]

House Passes Bill to Block Rail Strike at Urging of President Biden

The House has passed legislation to block a nationwide rail strike by imposing a contract that has been rejected by unions representing the majority of freight rail workers.

29.11.2022 - 18:05 [ trendswide.com ]

Wall Street gains moderately after easing fears over China protests

The National Health Commission affirmed that it will accelerate the vaccination of older adults and softened the tone on the lethality of the most recent variants of Covid-19. News about the real estate sector in that country was also added,” explained the eToro firm. .

29.11.2022 - 17:50 [ Capitality / Nitter ]

U.S. stocks had their worst day in nearly three weeks on Monday as protests in China raised global-growth risks and Fed said more interest-rate increases will be needed to subdue inflation.

(…)

29.11.2022 - 17:43 [ The Art of Hacks Trades / Nitter ]

Chinese Stocks in US Rise, Erasing Drop Triggered by Protests – Bloomberg

28.11.2022 - 22:48 [ CNN ]

Global markets fall after protests erupt in China over Covid lockdowns

European markets opened broadly lower, tracking the performance of Asian shares. The FTSE 100 (UKX) dropped 0.7%, the CAC 40 (CAC40) fell 0.6%, and the DAX (DAX) was down 0.5%.

Earlier, Hong Kong’s benchmark Hang Seng (HSI) Index had finished the day 1.6% lower, after paring some losses.

28.11.2022 - 22:44 [ Fortune.com ]

Amid protests over lockdowns, Goldman Sachs warns that China’s exit from COVID-zero may be ‘forced and disorderly’

China’s climbing COVID caseload and expanding lockdown measures, which prompted rare public protests over the weekend, highlight the risk of an unplanned and chaotic exit from the country’s tough COVID-zero policies, predicts Goldman Sachs.

14.11.2022 - 12:45 [ VisualCapitalist.com ]

Charted: The Global Decline of Fertility Rates

(June 10, 2022)

Lower fertility rates, coupled with increased life expectancies around the world, are creating an aging population. Since 1950, the global median age has grown from 25 years to 33 years.

An older population comes with a number of economic risks, including rising healthcare costs and a smaller global workforce.

06.11.2022 - 12:44 [ New York Times ]

Fueled by Billionaires, Political Spending Shatters Records Again

“We’ve broken records with our broken records,” said Sheila Krumholz, executive director of the nonpartisan Open Secrets, which estimated on Thursday that total spending in 2021 and 2022 would reach $16.7 billion when tallied after Election Day, easily surpassing the previous midterm record of $14 billion set in 2018.

06.11.2022 - 12:28 [ theHill.com ]

Millionaires urge Democrats to include billionaire tax in spending bill

(01.11.2021)

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires‘ investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

28.10.2022 - 16:24 [ Middle East Eye ]

Opec+ oil cut: The birth pangs of a new world order

Riyadh is apparently set on another course. It intends to join Brics and is increasing its cooperation with China, including through its unprecedented consideration of trading oil for yuan instead of dollars. The UAE is also making moves, with Abu Dhabi Crown Prince Mohammed bin Zayed recently visiting Moscow, and his energy minister saying Russia is irreplaceable in the oil market.

27.10.2022 - 19:49 [ RT.com ]

The US has nothing left to offer the world – Putin

The US no longer has a model which is inspiring to the rest of the world and instead is maintaining its global dominance by throwing its weight around, Russian President Vladimir Putin asserted on Thursday. He added that Washington elites were now even bullying supposed allies who dissent from their neoliberal worldview.

The Russian leader voiced his opinion that „liberal democracy“ has changed beyond recognition and has transformed from a vehicle to promote freedom of speech and expression, to demanding the ‘cancelation’ of anyone with a different perspective.

27.10.2022 - 19:42 [ DailyMail.co.uk ]

Putin’s deluded rant to the world: War-mongerer says ‚western domination is over‘, calls for a ’new world order‘ and warns we have entered the most dangerous decade since WW2

– Putin laid out his thoughts on foreign policy in a rambling speech in Moscow and accused West of fanning flames of war in Ukraine
– Also accused West of rejecting his peace plan and stoking tensions over Taiwan and said area is part of China
– Blamed westerners for causing global food crisis, in what appeared to be an appeal to allies in China and Africa
– It is the latest in series of bitter speeches Putin has given since invading Ukraine on February 24 this y

24.10.2022 - 05:55 [ DailyMail.co.uk ]

Destined for Downing Street? Rishi Sunak could be named PM TODAY after Boris Johnson pulls out of Tory leadership contest and Penny Mordaunt well short of the 100 supporters she needs ahead of 2pm deadline

– Rishi Sunak, who launched his bid yesterday morning, has received public backing of more than 150 Tory MPs
– As of last night, 155 MPs said they are backing Mr Sunak, while 25 had spoken out in support of Ms Mordaunt
– A further 54 who were hoping Mr Johnson would return are yet to publicly reveal to whom they will now back
– Mr Johnson earlier said he had in fact reached the ‚very high hurdle of 102 nominations‘ as he bowed out
– Ms Mordaunt’s team, though, believe his decision to pull himself from the race will ‚propel her over the line‘

21.10.2022 - 19:30 [ CraigMurray.org.uk ]

The Party is Over

It is fascinating that both the Tory and Labour parties have now adopted exactly the same mechanism to prevent the membership electing a leader again with views outside the narrow Establishment consensus – in both parties that mechanism being an increase in the number of MPs who have to nominate, before a candidate can get their name before the party membership.

The professionals are to radically limit the options of the members.

21.10.2022 - 19:10 [ Jeremy Corbyn / Twitter ]

Thanks to everyone who has written in support of my @guardian piece urging radical change. I must make one correction: it’s not about Corbynism. It’s about socialism. The fight for a kinder society is a collective struggle: we owe it to each other to win.

15.10.2022 - 19:44 [ DuckDuckGo.com ]

UK, economy, stimulus

(…)

15.10.2022 - 19:31 [ Simon_Templar2021 PhD / Nitter ]

This country is screwed whosoever in power even if Labour! Tory grassroot members has royally damaged this country by putting a malfunctioning robot Lizbot as PM who lacks a brain like the Scarecrow in the Wizard of Oz! Unfortunately there isn’t a Wizard she can visit to get one!

15.10.2022 - 19:24 [ Jeremy Corbyn / Nitter ]

In 2019, we wanted to borrow money to fund public, regional, green investment that would pay for itself. Truss and Kwarteng want to borrow money to pay for uncapped bankers‘ bonuses. This government have crashed the economy. We would have transformed it.

(12.10.2022)

15.10.2022 - 18:31 [ theGuardian.com ]

Inflation is causing real pain. But raising interest rates will make it worse

(22.08.2022)

The current inflation situation hasn’t been about all goods in the economy getting more expensive at the same rate. Specific goods – food, fuel, cars and housing – have been experiencing massive price shocks, raising the general inflation level substantially. Controlling these changes would require aggregate demand to shrink to unbearable levels for average Americans – essentially making people too poor to buy goods, and thus alleviating bottlenecks. Rate hikes are not only ill suited to bring down these essential prices but risk a recession throwing millions out of work.

15.10.2022 - 18:23 [ CNBC ]

Raising interest rates is the wrong solution to the inflation problem, analyst says

(05.10.2022)

Raising interest rates to tame demand — and therefore inflation — is not the right solution, as high prices have been driven mainly by supply chain shocks, one analyst said.

Global manufacturers and suppliers have been unable to produce and deliver goods to consumers efficiently during Covid lockdowns. And more recently, sanctions imposed on Russia have also curtailed supply, mainly of commodities.

15.10.2022 - 18:12 [ DailyMail.co.uk ]

Interest rates may rise even HIGHER than expected next month, Bank of England chief says if inflation is to be beaten

On September 22 the Bank’s Monetary Policy Committee (MPC) raised rates by 0.5 percentage points to 2.25%.

Speaking at the G30 annual international banking seminar, Mr Bailey said: ‚The UK Government has made a number of fiscal announcements and has set October 31 as the date for a further fiscal statement.‘

He said that the Bank’s monetary policy committee ‚will respond to all this news at its next meeting in just under three weeks from now‘.

15.10.2022 - 18:06 [ James Matthews / Nitter ]

Bank of England governor Andrew Bailey tells IMF event in Washington of conversation with Jeremy Hunt yesterday: “Very clear & immediate meeting of minds on the importance of stability and sustainability.” @SkyNews

15.10.2022 - 17:47 [ SlightlyFaztStockMarketNews / Nitter ]

British government borrowing costs surged again on Wednesday after Bank of England Governor Andrew Bailey told pension funds they had three days to fix liquidity problems before the bank ends emergency bond-buying that has provided support.

(13.10.2022)

07.10.2022 - 12:18 [ Washington Post ]

The Saudi snub of Biden is a disaster. Democrats must respond.

Republicans are surely excited about the news that a group of oil-producing countries led by Saudi Arabia and Russia will slash oil production by 2 million barrels per day. In addition to threatening the global economy, it also could mean the specter of higher energy prices heading into the midterm elections, bolstering GOP attacks at a time when their potency has faded.

07.10.2022 - 12:05 [ New York Times ]

Biden’s Choice After OPEC Cuts: Woo Saudi Arabia, or Retaliate?

Senator Chuck Schumer of New York, the majority leader, said Saudi Arabia’s decision to ally with President Vladimir V. Putin’s Russia to shore up oil prices was a grave mistake.

“What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” he said. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action.”

07.10.2022 - 11:43 [ Oilprice.com ]

Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

(04.10.2022)

The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.

07.10.2022 - 11:39 [ UkraineNews @Ukraine66251776 Oct 5 ]

OPEC and its allies, including Russia, approved a two million barrel-a-day cut in oil production on Wednesday. Biden is fuming

05.10.2022 - 13:09 [ Oilprice.com ]

Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.

04.10.2022 - 18:09 [ Haaretz ]

Obama Charges Netanyahu as a World Leader Who Fueled ‚Putinism‘, Report Reveals

„What I worry about most is, there is a war right now of ideas, more than any hot war, and it is between Putinism — which, by the way, is subscribed to, at some level, by [Turkish President Recep Tayyip] Erdogan or Netanyahu or [former Philippines President Rodrigo] Duterte and [former U.S. President Donald] Trump — and a vision of a liberal market-based democracy that has all kinds of flaws and is subject to all kinds of legitimate criticism, but on the other hand is sort of responsible for most of the human progress we’ve seen over the last 50, 75 years,“ he told reporters in off-the-record comments first published by Bloomberg.

03.10.2022 - 18:11 [ Ansa.it ]

Confindustria calls for authoritative new govt ASAP

„We hope for a government with authoritative, competent and irreproachable ministers as soon as possible“.
Brothers of Italy (FdI) leader Giorgio Meloni, who looks set to become the next premier after her right-wing party spearheaded the right coalition to victory, is currently holding a series of meetings on the make-up of the new executive.

26.09.2022 - 18:33 [ Rosa Luxemburg / Leipziger Volkszeitung / marxists.org ]

Peace Utopias

(May, 6/8 1911)

During these fifteen years we had this: in 1895 the war between Japan and China, which is the prelude to the East Asiatic period of imperialism; in 1898 the war between Spain and the United States; in 1899-1902 the British Boer War in South Africa; in 1900 the campaign of the European powers in China; in 1904 the Russo-Japanese War; in 1904-07 the German Herero War in Africa; and then there was also the military intervention of Russia in 1908 in Persia, at the present moment the military intervention of France in Morocco, without mentioning the incessant colonial skirmishes in Asia and in Africa. Hence the bare facts alone show that for fifteen years hardly a year has gone by without some war activity. (…)

Only were one suddenly to lose sight of all these happenings and manoeuvres, and to transfer oneself back to the blissful times of the European concert of powers, could one say, for instance, that for forty years we have had uninterrupted peace. This conception, which considers only events on the European continent, does not notice that the very reason why we have had no war in Europe for decades is the fact that international antagonisms have grown infinitely beyond the narrow confines of the European continent, and that European problems and interests are now fought out on the world seas and in the by-corners of Europe.

Hence the “United States of Europe” is an idea which runs directly counter both economically and politically to the course of development, and which takes absolutely no account of the events of the last quarter of a century.

That an idea so little in accord with the tendency of development can fundamentally offer no progressive solution in spite of all radical disguises is confirmed also by the fate of the slogan of the “United States of Europe.” Every time that bourgeois politicians have championed the idea of Europeanism, of the union of European States, it has been with an open or concealed point directed against the “yellow peril,” the “dark continent,” against the “inferior races,” in short, it has always been an imperialist abortion.

And now if we, as Social Democrats, were to try to fill this old skin with fresh and apparently revolutionary wine, then it must be said that the advantages would not be on our side but on that of the bourgeoisie. Things have their own objective logic. And the solution of the European union within the capitalist social order can objectively, in the economic sense, mean only a tariff war with America, and in the political sense only a colonial race war. The Chinese campaign of the united European regiments, with the World Field Marshal Waldersee at the head, and the gospel of the Hun as our standard – that is the actual and not the fantastic, the only possible expression of the “European State Federation” in the present social order.

22.09.2022 - 18:30 [ financebuzz.com ]

U.S. Net Worth Statistics: The State of Wealth in 2022

For the fourth quarter of 2019, total wealth in the U.S. was $111.04 trillion.

22.09.2022 - 18:18 [ ons.gov.uk ]

Total wealth in Great Britain: April 2016 to March 2018

The total net wealth of private households in Great Britain was £14.6 trillion in April 2016 to March 2018, an increase of 13% in real terms from April 2014 to March 2016, mainly because of increases in private pension and net property wealth.

22.09.2022 - 17:26 [ Reuters ]

SNB to join 75 basis point hike club on Sept 22, inflation yet to peak – Reuters poll

The ECB, for its part, is due to take its key interest rates significantly higher.

22.09.2022 - 17:02 [ MarketWatch.com ]

Bank of England lifts rates by a half-point after 5-4 vote

The Bank of England decided to lift interest rates by a half-point to the highest level since 2008 in a contested decision, as the U.K. central bank joins peers across the globe in trying to bring inflation down by quelling demand.

The vote was 5-to-4 to bring rates to 2.25%, with three members calling for a 75-basis-point hike while one voted for a quarter-point increase. It was the seventh consecutive rate hike for the U.K. central bank.

22.09.2022 - 16:45 [ AZfamily.com ]

How the latest Fed rate hike will affect your credit card bill

Collectively, Americans have nearly $900 billion dollars in credit card debt, and if you carry a balance, your bill is about to get more expensive, as the Federal Reserve raised its key interest rate for the fifth time this year. Currently, the average interest rate on a new credit card offer is more than 21%, according to LendingTree’s Matt Schulz. “You can expect that average to go up to over 22% in the next couple of months because banks don’t tend to waste a lot of time on raising rates when the Fed does,” Schulz said.

15.09.2022 - 13:38 [ More Perfect Union / Nitter ]

BNSF, the railroad owned by Warren Buffett, has sent this letter to Congress urging them to pass legislation that would force rail workers to adopt a contract that contains ZERO paid or unpaid sick days. In the letter, BNSF continues to lie about its sick leave policy

15.09.2022 - 13:15 [ CNN ]

Railroad strike averted after marathon talks reach tentative deal

The deal gives the union members an immediate 14% raise with back pay dating back to 2020, and raises totaling 24% during the five-year life of the contract, that runs from 2020 through 2024. It also gives them cash bonuses of $1,000 a year.

Few other details of the deal have so far been made public. But the statement from Biden indicated that the major issue that had brought the country within a day of its first national rail strike in 30 years had been addressed in the unions’ favor.

14.09.2022 - 16:42 [ Maximillian Alvarez / Nitter ]

On Friday, the US could see its 1st major rail strike and/or lockout since the 90s. MSM has *finally* taken an interest in covering this story but seldom from the workers‘ side. Here’s a thread of our @TheRealNews coverage this year on the long-brewing crisis in the rail industry

14.09.2022 - 16:30 [ Railroad Workers United ]

Welcome to Railroad Workers United

Railroad Workers United is an inter-union, cross-craft solidarity „caucus“ of railroad workers, and their supporters, from all crafts, all carriers, and all unions across North America. We urge union railroaders to continue being active in their craft union AND to join RWU in building solidarity and strength among all rail workers. We work with union rank & file railroad workers, but we welcome yet-to-be organized rail workers as well. In addition, we actively work with other labor and community organizations on issues of mutual concern. We do not accept managers or those who oppose our principles.

14.09.2022 - 16:23 [ theRealNews.com ]

Railroad workers are being ground to dust. Who will help them?

(May 5, 2022)

Jeff Kurtz: Okay, thank you, Max. I’d like the viewers to imagine that their life is a scorecard, because that’s exactly what these workers are facing. They start off with a score of 30 points that they can never exceed that 30 points. They will get four points allocated back to their score. Say they get down to 20 points. If they work 14 days in a row, they will get four points allocated back to their score. But the points that you can lose are really dramatic. So, I mean, you could lose points for an incident. You could lose 15 points for an incident.

There are specific incidents. If you don’t show up for work for whatever reason. We had a gentleman that was in a car wreck, and it wasn’t his fault. He was about a mile from his terminal and his car was totaled. And the supervisor that came out there told him, she said, you’re not going to work. She said, you could be hurt, and we don’t know it. So they, what we call marked this guy off. They marked him off the job. Well, he initially was saddled with a 15 point deduction for not showing up to work. And eventually, I think that the local supervisor protested this, so they only docked him three points.

But this is exactly what’s going on. I heard of a case where a worker, his mother died while he was en route, and the railroad pulled him off the train, and then they tried to dock him points for it. And the stories just go on and on and on. And Max, what you alluded to as far as things getting worse when people aren’t watching, that’s exactly what’s happening.

14.09.2022 - 15:37 [ theHill.com ]

Congress prepares to act on rail strike amid fears of ‘economic catastrophe’

More than 115,000 rail workers will be legally allowed to strike on Friday.

02.09.2022 - 19:49 [ theGuardian.com ]

Energy price inflation: how the UK and EU could fight it

Is there international action that can be taken now?

It appears increasingly likely that some forms of coordinated international action will be taken, mirroring responses to the global financial crisis, the eurozone debt crisis and the Covid pandemic.

The former Italian prime minister Mario Draghi floated the idea of “a cartel of buyers” at a meeting with the US president, Joe Biden, in May. This would involve large oil consumers working together to negotiate prices.

02.09.2022 - 19:15 [ CNBC ]

G-7 nations back plan to cap Russian oil prices in a bid to drain the Kremlin’s war chest

Energy analysts have been highly skeptical about the integrity of the proposal, however, warning the policy could backfire if key consumers such as China and India are not involved.

Oil prices were higher on the news.

01.09.2022 - 16:23 [ Telegraph.co.uk ]

Putin has pulled off a shock win that could destroy the free world

We risk ending up with calamitous poverty, civil disobedience, a new socialist government by next year, a break-up of the UK, nationalisations, price and incomes policies, punitive wealth taxes and eventually a complete economic and financial meltdown and IMF bailout. The situation in the EU is, if anything, worse.

This is not a plea for pacifism, for looking away when Ukraine is being illegally invaded by a savage regime. Britain was – and remains – morally right to back Ukraine in a carefully calibrated way. Instead, this is a plea for an economic counter-offensive, for Liz Truss, the next PM, to tackle Putin’s economic and energy war head-on.

30.08.2022 - 18:13 [ Yahoo.com ]

Could China’s Yuan replace the U.S. dollar as the world’s dominant currency? Here’s how the Asian nation’s trade supremacy is rapidly boosting its reserve status

Meanwhile, the Chinese Yuan has already become a de facto reserve currency in Russia. Russian leadership turned to China after facing sanctions from the West due to its invasion of Ukraine earlier this year. Now, 17% of Russia’s foreign reserves are denominated in yuan. The yuan is also the third most demanded currency on The Moscow Exchange.

As these partnerships become stronger, the yuan’s status as a reserve currency could be further entrenched.

30.08.2022 - 17:57 [ CNN ]

China’s yuan slid to the weakest in two years as hawkish Fed signals more rate hikes

Another driver is from the government’s side, as Chinese authorities were tolerant of a „gradually“ weaker yuan, which can benefit exporters by making the price of their goods more competitive.

29.08.2022 - 12:32 [ GlobalTimes.cn ]

GT Voice: US irresponsible monetary policy catalyst for de-dollarization push

Statistics showed China had surpassed the US to become the largest trading nation in the world from 2013. The US has lost its leadership role in international trade, and now the motivation of avoiding the risk of exchange rate fluctuations is likely to be the catalyst of de-dollarization in the world. In light of the US‘ irresponsible monetary policy, a de-dollarization push will likely be the beginning of the disintegration of Washington’s dollar hegemony.

28.08.2022 - 12:16 [ GlobalTimes.cn ]

China, US’ initial deal on audit cooperation a significant step, but not a ‘once-for-all’ antidote: analysts

China and the US have reached a long-stalled agreement on the year-long audit dispute for listed companies, based on the principles of equality and reciprocity and abiding by each other’s laws, the Chinese securities regulator announced on Friday, marking a significant breakthrough in bilateral auditing cooperation that partially helps to clear delisting clouds hanging over 280 Chinese companies listed in the US.

27.07.2022 - 15:36 [ @BethLynch2020 / Nitter ]

If you’re gonna spend a trillion dollars on the military, pursue GOP’s wet dreams in China, hand 10s of billions to cops and corps, keep Trump’s tax cuts, while also not delivering on debt relief, higher wages, HC, or protecting any of our rights, why does voting for you matter?

25.07.2022 - 16:04 [ New York Times ]

’super‐Europe’

(Nov. 9, 1978)

While the dollar was falling and rising, the Europeans were negotiating a new form of monetary union: the creation of a kind of deutschemark zone in Western Europe. This was no coincidence.

Just as the sovereignty of the nationstate is personified by the ability to create money, so the form and status of international money is an expression of changing power relationships. The events of the last few weeks merely confirm America’s decline and the growing importance of Western Europe, dominated by West Germany.

15.07.2022 - 20:12 [ @SheSaidWhatBul / Nitter ]

Lord Cruddas, ‘the ballot only has credibility if Boris is part of the process.’

15.07.2022 - 20:08 [ Telegraph.co.uk ]

Lord Cruddas threatens to cut off donations to Tory party

(today)

Lord Cruddas, who was last year forced to defend donating £500,000 to the party just three days after he was admitted to the House of Lords, said he wanted Boris Johnson to stay on as Prime Minister.

He said: “If the membership are asked to vote for the last two contenders they will be voting for two people that they do not want on the ballot. The ballot only has credibility if Boris is part of the process.”

15.07.2022 - 20:01 [ @BestForBritain / Nitter.net ]

Nadine Dorries says Boris Johnson should remain in post because „the donors have spoken“.

(06.06.2022)

What about the will of the people?

New snap poll from @OpiniumResearch shows 59% think Tory MPs should vote to remove Johnson as leader today

15.07.2022 - 17:25 [ Buzzfeed ]

“After My Bills Are Paid, I Have Nothing Else”: People Are Sharing How Much Their Monthly Rent Has Gone Up This Year, And I Can’t Believe This Is Legal

Recently, we asked members of the BuzzFeed Community to share how rising rents are affecting them and how they’re coping. Here’s what they had to say:

15.07.2022 - 17:17 [ CNN ]

Average rent in Manhattan jumps to a record $5,000 a month

The median rent — which is the mid-point of all rents — just rose above $4,000 a month for the first time in May.

The average monthly rent — which is the sum of all rents divided by the number of rents included in the data — was even higher at $5,058 in June. That’s up nearly 30% from a year ago and marked the first time the average has gone above $5,000 a month.

30.06.2022 - 08:09 [ CNET.com ]

Ex-Amazon Cloud Worker Found Guilty in Capital One Hack: The huge hack affected more than 100 million US customers.

(June 18, 2022)

„She wanted data, she wanted money, and she wanted to brag,“ Assistant United States Attorney Andrew Friedman said in closing arguments, according to the release. The Justice Department didn’t identify the other organizations affected by Thompson’s activity.

28.06.2022 - 08:23 [ FinancialPost.com ]

Oil rises $2/bbl after G7 vows new Russian sanctions

Oil rose $2 a barrel on Monday on the prospect of even tighter supplies loomed over the market as the Group of Seven nations promised to tighten the squeeze on Russian President Vladimir Putin’s war chest while actually lowering energy prices.

24.06.2022 - 21:55 [ Communist Party of Israel ]

Protest Tent Encampments Spring Up Across Israel Against Soaring Housing Costs

Protesters throughout Israel have set up tents in the street to decry the country’s sky-high housing costs, reminiscent of the massive cost-of-living demonstrations that swept the country in 2011. A protest camp was set up in Tel Aviv on Sunday evening, joining the encampments that have been set up in several locations across the country in recent days. Other encampments were located in Jerusalem, Haifa, Beersheba, Pardes Hanna, Holon and Rosh Ha’ayin. They said that a large demonstration is to take place at Tel Aviv’s Habima Square on July 2

23.06.2022 - 19:58 [ CorporateEurope.org ]

ECJ confirms legality of unfair corporate tribunals in EU trade deals

(30.April 2019)

The European Court of Justice (ECJ) today ruled that provisions for investor-state dispute settlement (ISDS, rebranded as ICS – Investment Court System) in the EU-Canada trade deal CETA are compatible with EU law.

This decision dangerously legitimises a mechanism that enables companies to claim multi-billion sum damages from governments that dare to stand up to their power. The ruling also comes as a blow to millions of citizens who have spoken out against this parallel justice system for corporations, most recently, more than 555,000 petitioners from all over Europe demanded an end to the ISDS system in all its forms.

23.06.2022 - 19:40 [ Reuters ]

German parties agree to ratify EU-Canada free trade deal

It has been provisionally in force since September 2017 but has to be ratified by the 27 members of the EU. So far, 15 EU member states had notified the European Council of completing of the ratification procedures.

22.06.2022 - 16:25 [ Haaretz ]

‘The Situation Is Worse Now’: Why Young Israelis Are Pitching Protest Tents in the Streets Again

The 2022 tents on Rothschild Boulevard went up a full week after the launch of the current protest movement, which officially began on June 13. On that day, the first tent compounds were seen in the north and south of the country – first in Pardes Hannah, and then Be’er Sheva, followed quickly by similar efforts in Holon and Rosh Ha’ayin, and subsequently Ramat Gan, Herzliya, Kfar Sava and elsewhere.

The fact that the current movement emerged – and is growing – in the periphery “testifies to the fact that it’s a truly grassroots phenomenon, and suffering is happening around the country,” says Guy

21.06.2022 - 06:50 [ Vincent Manancourt / Nitter.net ]

A flyer for the conference gives a taste of the fare on offer. „Social media monitoring“, „defeating encryption“, „TOR/DarkNet traceback“ etc. etc. 2/3

(14.06.2022)

17.06.2022 - 05:32 [ NewStatesman.com ]

Is recession the Bank of England’s only choice?

With inflation still climbing, today the Bank of England has brought out the big guns, raising interest rates by 0.25 percentage points to 1.25 per cent – pushing the cost of borrowing to its highest since February 2009. It joins the US Federal Reserve, its cousin across the Atlantic, which yesterday raised rates by 0.75 percentage points – its biggest rise in almost 30 years.

17.06.2022 - 05:02 [ theHill.com ]

Mortgage rates hit 5.78 percent in record spike

That means a monthly mortgage payment on a roughly median-valued $400,000 home, after a 20 percent down payment, would now be $1,874. Last year, the monthly payment on the same home would have been $1,335 — a difference of more than $500.

17.06.2022 - 04:59 [ theHill.com ]

On The Money — Biden tamps down recession fears as Dow plunges

President Biden on Thursday said that a recession is not inevitable in the wake of the Federal Reserve’s decision to raise interest rates at the quickest pace in nearly 30 years.

“First of all, it’s not inevitable,” Biden told The Associated Press in an exclusive interview. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation.”

17.06.2022 - 04:15 [ ABC News ]

Fed’s aggressive rate hikes raise likelihood of a recession

Each rate hike means higher borrowing costs for consumers and businesses. And each time would-be borrowers find loan rates prohibitively expensive, the resulting drop in spending weakens confidence, job growth and overall economic vigor.

“There’s a path for us to get there,“ Powell said Wednesday, referring to a soft landing. „It’s not getting easier. It’s getting more challenging”

It was always going to tough: The Fed hasn’t managed to engineer a soft landing since the mid-1990s.

17.06.2022 - 04:10 [ CNN ]

Opinion: The Fed’s latest rate hike will be a disaster for the economy

Using the Federal Reserve’s rule of thumb that for every $1 loss in wealth, households reduce spending by 4 cents, the decline in asset prices to date will almost certainly result in consumers cutting back spending.
Such a prospectively large decline in consumer spending is the last thing that an already slowing US economy needs. This is especially the case at a time when consumer spending is already being constrained by sky high gasoline and food prices.

17.06.2022 - 03:56 [ theHill.com ]

Fed hikes rates by 75 basis points for first time since 1994

(15.06.2022)

“The invasion of Ukraine by Russia is causing tremendous human and economic hardship. The invasion and related events are creating additional upward pressure on inflation and are weighing on global economic activity. In addition, COVID-related lockdowns in China are likely to exacerbate supply chain disruptions,” the FOMC said in a statement announcing the interest rate hike.

06.06.2022 - 16:55 [ @BestForBritain / Nitter.net ]

Nadine Dorries says Boris Johnson should remain in post because „the donors have spoken“.

What about the will of the people?

New snap poll from @OpiniumResearch shows 59% think Tory MPs should vote to remove Johnson as leader today

06.06.2022 - 16:51 [ theSun.co.uk ]

MONEY TALKS: Big Tory donors plead with MPs not to ditch Boris Johnson

Big names include billionaire JCB boss Lord Bamford, property magnate Sir Tony Gallagher and Carphone Wearhouse founder David Ross.

Other names include multimillionaire financier Howard Shore and mega rich Simon Rueben – who alongside brother David is worth £16bn.

21.05.2022 - 11:45 [ World Economic Forum ]

World Economic Forum Annual Meeting: List of confirmed Public Figures

Heads of State and Government 50
Foreign Affairs 30
Finance / Economy 43
Trade / Commerce / Industry 27
Central Bank 7
International Organizations 36
Digital / Information, Communication and Technology 11
Energy and Resources 11
Environment 17
Health 6
Labor / Social Affairs / Education 6
Transport and Infrastructure 5
Defence and Intelligence Chiefs 3
Others 58

07.05.2022 - 10:29 [ Iran Chamber of Commerce, Industries, Mines and Agriculture ]

Iran’s trade with Shanghai Cooperation Organization members increases to $37 billion

China, Afghanistan (which has observer SCO status), and India were the top three SCO importers of Iranian goods last year, he added.

The SCO is a transcontinental political, economic, security, and military alliance, comprising China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan.

Iran had its full membership in the organization approved in 2021. Previously, it held observer status in the organization.

05.04.2022 - 20:51 [ Seán Kelly MEP, MEP Ireland South | Leader @FineGael in EP / Twitter ]

Images of the massacre of civilians in #Bucha and the Russian war crimes in Ukraine are truly heartbreaking. Along with 207 MEPs, the @FineGael Delegation is calling for an embargo on Russian energy imports, exclusion of ALL Russian banks from SWIFT + ban Russia from EU ports.

05.04.2022 - 20:29 [ Inna Sovsun, Member of #Ukraine Parliament / Twitter ]

The EU boasted of #Russia’s disconnection from SWIFT. But they shut down only 7 of 300 banks. The largest bank, Sberbank, evaded sanctions. And Gazprombank too.

This bank helped Russian Defense Ministry buy unmanned aerial vehicles & electronic reconnaissance equipment.

05.04.2022 - 20:23 [ bank-code.net ]

GAZPRUMM XXX – SWIFT Code (BIC) – GAZPROMBANK (JOINT – STOCK COMPANY) in MOSCOW – RUSSIAN FEDERATION

GAZPRUMM swift code is the unique bank identifier for GAZPROMBANK (JOINT – STOCK COMPANY)’s head office branch located in MOSCOW – RUSSIAN FEDERATION and it’s used to verify financial transactions such as a bank wire transfers (international wire transfers). Check the GAZPRUMMXXX SWIFT / BIC code details below.

05.04.2022 - 20:18 [ BBC ]

EU targets Russian coal and ships in new sanctions

EU officials had earlier indicated the focus would be on enforcing existing measures.

30.03.2022 - 21:01 [ ZDNet ]

How surveillance capitalism will totally transform the domain name system

( September 17, 2021)

The network betrays you. You’re leaving big, filthy, muddy footprints on the carpet, mate. We can see where you’re going. And that’s the problem,“ he said.

„Real-time data, right here, right now. Not last week, not last month. This second. You couldn’t get more valuable.“

22.03.2022 - 19:31 [ Michael Knigge / Twitter ]

Germany’s finance minister Christian Lindner wants to restart negotiations for a transatlantic free trade agreement. “The current crisis shows how important free trade w/ partners who share our values is,” he told Handelsblatt, adding that TTIP is a lesson.

(20.03.2022)

18.02.2022 - 07:22 [ MarketWatch.com ]

Canadian banks restrict funds to trucker protest groups

The trade group for Canada’s biggest banks on Wednesday said lenders will work to carry out an emergency order from the government to freeze bank accounts for truckers and their parent companies involved in illegal blockades to protest COVID-19 requirements.

The Canadian Bankers Association said its members will “diligently implement” measures laid out by Prime Minister Justin Trudeau to impose 30-day suspensions of bank accounts associated with the protest.

18.02.2022 - 06:43 [ Ezra Levant / Twitter ]

Trudeau’s finance minister, who happens to be a director of Klaus Schwab’s World Economic Forum, tells Canadians she is spying on their every financial move.

Is Schwab trying to destabilize Canadian banks? I can’t think of anything that could destroy confidence in Canada faster.

13.11.2021 - 18:00 [ Haaretz ]

Netanyahu’s Ex-spin Doctor Is About to Reveal How the Corrupt System Works

The man who will take the witness stand in Jerusalem’s District Court on Tuesday is a refined embodiment of the Israeli power structure. Nir Hefetz was once the right-hand man of the country’s three dominant alpha males: former Prime Minister Benjamin Netanyahu, Yedioth Ahronoth publisher Arnon Mozes and one-time tycoon Nochi Dankner.

There’s no better indicator of the judgment and moral compass of the men who presided over the nation’s government, media and economy.

10.11.2021 - 16:50 [ Washington Post ]

Pfizer asks FDA for broader authorization of vaccine booster

Pfizer and its German partner, BioNTech, on Tuesday asked the Food and Drug Administration to authorize a booster dose of its coronavirus vaccine for people 18 and older.

The FDA could clear the request by the end of the month, according to health officials who spoke on the condition of anonymity because they were not authorized to discuss the issue.

10.11.2021 - 16:35 [ theHill.com ]

Pfizer expects $36 billion in sales from COVID-19 vaccine

(02.011.2021)

Pfizer expects to earn about $36 billion in revenue this year from the COVID-19 vaccine developed with BioNTech, the company announced Tuesday, an increase from the previous estimate of $33.5 billion.

During an earnings call, CEO Albert Bourla said the vaccine contributed $13 billion in revenue during the third quarter alone, bringing total revenue this year to $24.3 billion.

The company forecasts another $29 billion in sales in 2022.

02.11.2021 - 10:02 [ theHill.com ]

Millionaires urge Democrats to include billionaire tax in spending bill

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires‘ investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

11.10.2021 - 02:35 [ Japan Today ]

The ‚zombification‘ of married life

Married couples are “zombifying,” is the magazine’s melancholy conclusion. Instead of divorcing, as they once might have, they grimly endure each other. It’s better, or seems so, than the foreseeable alternatives – prominent among them financial insecurity amid declining wages and emotional insecurity as the lingering COVID-19 crisis corrodes the strength to face the world alone.

There are no doubt many reasons why marriage, so hopefully embarked upon, so quickly turns sour for so many. Spa! zeroes in on one – the double-income household.

07.10.2021 - 11:55 [ Standard.co.uk ]

UK gas prices fall from record high after Russia steps in

Following Mr Putin’s comments on supplies, gas prices dropped to about 257p a therm later on Wednesday.

07.10.2021 - 11:38 [ euobserver.com ]

Putin offers to ease EU gas crunch

Deputy prime minister Alexander Novak urged German regulators to quickly certify the Nord Stream 2 pipeline to help.

04.10.2021 - 04:12 [ theGuardian.com ]

Surge in UK wholesale gas prices fuels winter energy crisis fears

(28.09.2021)

European gas prices rose by 10%, with price pressure exacerbated by a dwindling supply from Russia.

Supply dropped on Tuesday as the flow of Russian gas via the Yamal-Europe pipeline fell by more than half, the Interfax news agency reported, citing data from the grid operator Gascade.

The situation in the UK, where market prices have quadrupled in the past year, is particularly acute.

04.10.2021 - 03:57 [ energyvoice.com ]

Gazprom warns of a gas-short winter for Europe

(20.09.2021)

“The gap in terms of injecting gas into European [underground gas storage] UGS facilities cannot be closed. Europe is going to enter the autumn/winter period with a gas shortage in its UGS facilities. The question is, how big is the shortage going to be?” the Russian executive said.

“They might even break new records very soon,” Miller said. He went on to note that despite European prices, Asian markets continued to pay a premium. As a result, gas is flowing into Asia.

02.10.2021 - 18:47 [ World Economic Forum ]

The Great Reset

There is an urgent need for global stakeholders to cooperate in simultaneously managing the direct consequences of the COVID-19 crisis. To improve the state of the world, the World Economic Forum is starting The Great Reset initiative

02.10.2021 - 15:59 [ CNBC ]

The U.S. and EU discuss ways to solve the global chip shortage: Here’s what you need to know

(30.09.2021)

In addition, although the final statement doesn’t mention China, some of the pledges certainly seemed to be targeted at Beijing.

“We intend to work closely together to address non-market, trade-distortive policies and practices, improve the effectiveness of our respective domestic measures,” the U.S. and the EU said.

Officials have on numerous occasions criticized Beijing for not giving the same level of access to foreign business as to what is granted to Chinese companies abroad.

27.09.2021 - 15:55 [ TodayUKNews.com ]

Europe still lacks a unifying vision

This is not to say that strategic autonomy is a bad idea — or that the EU is doomed to geopolitical irrelevance. The prospect of a trade deal with Europe or the threat of EU sanctions can shape the behaviour of countries all over the world. But economic power and moral suasion are not always an adequate substitute for military might. (As Stalin once reportedly asked: “How many divisions has the pope?”)

01.09.2021 - 10:00 [ Forbes ]

The War In Afghanistan Cost America $300 Million Per Day For 20 Years, With Big Bills Yet To Come

(16.08.2021)

Naturally, the United States has financed the Afghan war with borrowed money. Brown University researchers estimate that more than $500 billion in interest has already been paid (included in the $2.26 trillion total sum), and they figure that by 2050 the cost of interest alone on our Afghan war debt could reach $6.5 trillion. That amounts to $20,000 for each and every U.S. citizen.

31.08.2021 - 18:46 [ Glenn Greenwald / Twitter ]

This is a very smart and insightful article on why groupthink is so pervasive among corporate journalists — especially those online — and why both the miserable economics and miserable culture of the media corporations where they work require conformity and herd behavior:

31.08.2021 - 18:35 [ Ross Barkan / Substack ]

The Problem With Media

This is the tragedy. The local news die-off is real and lasting. Whole regions of the country now lack reliable news. The suffering is not always obvious because it is more about absence than outright destruction. Today’s 28-year-old living in an exurb doesn’t understand how much coverage of a town meeting, a county executive’s office, or a public school they would’ve read 20 or 30 years ago. They merely see nothing and learn to live with it. Many of the remaining small newspapers hardly function at all; they are living ghosts printing wire copy.

24.08.2021 - 06:33 [ marketwatch.com ]

Pfizer, BioNTech stocks rise on report FDA could fully approve COVID-19 vaccine

(20.08.2021)

Late Friday, The Wall Street Journal and The New York Times reported that the FDA could approve the vaccine, which up until now has been distributed on an emergency basis, as early as Monday but could possibly go past that if regulators need more time to review data.

23.08.2021 - 22:31 [ Xinhuanet ]

Taliban appoints acting head for Afghan central bank: spokesman

The Taliban appointed Hajji Mohammad Idress as acting general director of the central bank „in efforts to align and arrange banking procedures and find a solution to people’s trade problem and difficulties,“ Taliban spokesman Zabihullah Mujahid wrote on his social media account.

14.08.2021 - 15:45 [ Bloomberg ]

Deutsche Bank, Standard Chartered Sued Over Afghanistan Dead

(05.08.2021(

The banks and two money transmitters functioned as “laundromats,” allowing terrorist financiers to secretly move money and evade detection, according to the lawsuit. Transactions involving syndicate agents, operatives and fronts in countries including Afghanistan, Pakistan, Russia and the United Arab Emirates raised red flags that they were dealing with terrorist money, the suit claims.

04.08.2021 - 13:29 [ The People’s Party / Twitter ]

Nina’s unfortunate loss is further proof that working with the Democrats is a dead end road for folks seeking to challenge the status quo. Democrats will spend millions of dollars (at a time like this!) and pull out all the stops to undermine candidates fighting for the people.

28.07.2021 - 08:12 [ UrduPoint.com ]

WTO Members Fail To Agree On Patent Waiver For COVID-19 Vaccines

The World Trade Organization member countries have failed to reach a consensus on a temporary waiver of intellectual property rights for COVID-19 vaccines, WTO spokesman Keith Rockwell said on Tuesday following the General Council session. According to Okonjo-Iweala, the WTO member countries will make a decision by the 12th WTO ministerial conference, which will take place in late November-early December.

28.07.2021 - 07:34 [ Laura Marston / Twitter ]

Tomorrow is the 100 year anniversary of the discovery of insulin. In 1921, insulin’s discoverers sold its patent for $1 so insulin would be affordable to all. Today, a single vial of insulin that lasts me about a week is priced at $300+, only in the United States.

(26.07.2021)

27.07.2021 - 02:10 [ Bloomberg.com ]

U.S., China Leave Room to Talk After Contentious Meeting

The U.S. and China left open the possibility of a summit between their presidents despite a contentious day of talks between officials from both sides in the city of Tianjin.

27.07.2021 - 02:02 [ Bloomberg.com ]

Technology – China Crackdown Rocks Investors: ‘Everybody’s in the Crosshairs’

The crash in tutoring stocks that began late last week spread Monday across the tech sector and beyond, after authorities confirmed reports they would ban a swathe of the education industry from making profits. It’s the government’s most extreme step yet to rein in private businesses that regulators blame for exacerbating inequality, increasing financial risk and — in the case of some tech titans –- challenging Beijing’s authority.

19.07.2021 - 16:05 [ Jacobin ]

Were Haiti’s Capitalists Behind the Assassination of President Moïse?

(09.07.2021)

Haitian president Jovenel Moïse was assassinated this week by alleged mercenaries. In an interview with Jacobin, the English language editor of Haiti Liberté says he suspects that some of Haiti’s richest families hired the attackers to preempt a potential revolution — and possibly even trigger US military intervention.

09.05.2021 - 06:31 [ UltraSurfing.com ]

EU and India agree to restart trade talks at ‚landmark‘ summit

“The EU and India are opening a new important chapter in our relationship. We are the world’s two largest democracies. We are natural partners,” European Council chief Charles Michel said.

08.05.2021 - 22:07 [ ABC News ]

EU agrees potential 1.8 billion-dose purchase of Pfizer jab

The European Union cemented its support for Pfizer-BioNTech and its novel COVID-19 vaccine technology Saturday by agreeing to a massive contract extension for a potential 1.8 billion doses through 2023.

EU Commission President Ursula von der Leyen said her office has approved a contract for a guaranteed 900 million doses with the same amount of doses as a future option.

08.05.2021 - 21:55 [ Financial Times ]

Merkel opposes US move to waive vaccine IP, the drive behind the commodity supercycle

German chancellor says waiver would have serious implications for production worldwide

07.05.2021 - 00:19 [ Yahoo.com ]

Pfizer, Moderna shares plummet after Biden administration backs a COVID-19 vaccine patent waiver

The Biden administration „believes strongly in intellectual property protections,“ Tai said in a statement, but the White House will back the waiver given the „extraordinary circumstances of the COVID-19 pandemic.“ The administration has faced pressure to support the measure, which is aimed at increasing vaccinations around the world — especially in countries experiencing a surge in infections, like India — without having to rely solely on exports.

21.04.2021 - 11:05 [ Regierung des Vereinigten Königreichs - Gov.uk ]

UK, Australia and Germany issue statement on merger control

The Competition and Markets Authority (CMA), the Australian Competition and Consumer Commission (ACCC) and Germany’s Bundeskartellamt have signed up to the statement, which comes as countries build back following the Coronavirus (COVID-19) pandemic.

With it, all 3 authorities are being clear that competition between businesses will remain important for consumers as well as other businesses who want to best serve their customers and grow.

27.03.2021 - 16:41 [ WIkipedia ]

Skid Row, Los Angeles

Skid Row was established by city officials in 1976 as an unofficial „containment zone“, where shelters and services for homeless people would be tolerated.[19]

During the 1970s, two Catholic Workers — Catherine Morris, a former nun, and her husband, Jeff Dietrich — founded the „Hippie Kitchen“ in the back of a van. Over forty years later, in March 2019, aged 84 and 72, they remained active in their work feeding Skid Row residents.[20]

Throughout the 1960s and 1970s, many veterans of the Vietnam War found themselves drawn to Skid Row, due to the services and missions already in place there, and feeling outcast from other areas. Like those after World War II, many of them ended up on the streets. It was around this time that the demographics of Skid Row shifted from predominantly white and elderly to those here today [see Demographics].

27.03.2021 - 16:35 [ BBC ]

Los Angeles: Why tens of thousands of people sleep rough

(19 September 2019)

In 1976, city officials established Skid Row as an unofficial „containment zone“, where homeless people, shelters and services would be tolerated. As a result, most visitors to the parts of Los Angeles that attracted visitors from around the world never saw a homeless person.

27.03.2021 - 16:30 [ Wikipedia ]

Echo Park, Los Angeles

First established in 1892, and long before „Hollywood“ became synonymous with the commercial film industry, the area of Echo Park known as Edendale was the center of filmmaking on the West Coast.

25.03.2021 - 18:33 [ BBC ]

‚Greed‘ and ‚capitalism‘ helped UK’s vaccines success, says PM

(26.03.2021)

The prime minister’s full remarks, which first appeared in the Sun newspaper, were reported to be: „The reason we have the vaccine success is because of capitalism, because of greed, my friends.“

Wales Office Minister David TC Davies, who attended the meeting, said Mr Johnson „made it absolutely clear it was a joke – a reference to the film Wall Street“.

22.03.2021 - 15:44 [ Haaretz ]

Israel Election: Dan Ariely Explains Why Voters Are Irrational – ‚It’s Tempting to Vote for a Liar‘

“The fact that people even go out to vote is very disturbing to economists. After all, you won’t change the result of the election with your lone vote, and on the other hand it costs you time and money. If you do a cost-benefit analysis of it – clearly one shouldn’t vote. Classical economists are very disturbed by people who go out to vote and also by people who leave tips in restaurants that they don’t plan to visit again.”

27.02.2021 - 17:30 [ Al Jazeera ]

UK Supreme Court’s Uber decision is a victory for all gig workers

From Uruguay and the United States to Australia and France, couriers and drivers have been bringing legal challenges against food delivery and passenger transport companies, such as Uber, Lyft, and Deliveroo, arguing that as their “workers” or “employees” they should be entitled to employment protections such as minimum wage, paid holidays and the right to unionise.

17.02.2021 - 09:58 [ DailyMail.co.uk ]

Bosses begin drafting ’no jab, no job‘ contracts to force staff to get vaccine despite lawyers warning they will likely be challenged in court – as ministers urge PM to bring in certificates to help open cinemas, theatres and clubs

– ‚No jab no job‘ contracts are being drafted by companies in the care home sector
– The move may mean prospective and current workers need to have jab for work
– Vaccines minister Nadhim Zahawi said yesterday that it was ‚up to businesses‘
– The Government has so far said it has no plans to introduce a passport scheme
– Ministers have also reportedly urged Boris Johnson to consider jab certificates

27.01.2021 - 19:00 [ Yahoo.com ]

DAVOS 2021: AstraZeneca CEO criticises ‚me first‘ approach to COVID

(25.01.2021)

Pascal Soriot said world leaders “could and should have been better prepared for this pandemic” and criticised what he called the “me first” attitude many have adopted in tackling the crisis.

“Globally, it’s fair to say we could and should have been better prepared for this pandemic,” AstraZeneca boss Soriot said during an appearance on a virtual panel on Monday.

19.01.2021 - 18:47 [ Prem Sikka / Twitter ]

To rebuild the economy, UK govt has set-up a Build Back Better Council. It is full of grandees from companies not paying the minimum wage, dodging taxes, engaged in illicit financial flows and anti-worker practices. No union reps. What could go wrong?

12.01.2021 - 09:53 [ World Economic Forum ]

The Davos Agenda 25-29 January 2021

The COVID-19 pandemic has demonstrated that no institution or individual alone can address the economic, environmental, social and technological challenges of our complex, interdependent world. The pandemic itself will not transform the world, but it has accelerated systemic changes that were apparent before its inception. The fault lines that emerged in 2020 now appear as critical crossroads in 2021. The time to rebuild trust and to make crucial choices is fast approaching as the need to reset priorities and the urgency to reform systems grow stronger around the world.

12.01.2021 - 09:46 [ World Economic Forum / Twitter ]

Welcome to 2030. I own nothing, have no privacy, and life has never been better

(Nov 10, 2017)

09.01.2021 - 10:24 [ US JUstice Department ]

Deutsche Bank Agrees to Pay over $130 Million to Resolve Foreign Corrupt Practices Act and Fraud Case

Deutsche Bank Aktiengesellschaft (Deutsche Bank or the Company) has agreed to pay more than $130 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) and a separate investigation into a commodities fraud scheme.

The resolution includes criminal penalties of $85,186,206, criminal disgorgement of $681,480, victim compensation payments of $1,223,738, and $43,329,622 to be paid to the U.S. Securities & Exchange Commission in a coordinated resolution.

24.11.2020 - 20:25 [ Robert Reich, Berkeley prof, frmr Sec of Labor / Twitter ]

Jeff Bezos net worth in 2009: $6,800,000,000 Jeff Bezos net worth in 2020: $183,800,000,000 Federal minimum wage in 2009: $7.25 Federal minimum wage in 2020: $7.25 If this doesn’t convince you our economy is rigged, I don’t know what will.

24.11.2020 - 19:54 [ Marianne Williamson / Twitter ]

When I was in college, 300,000 people were in prisons across the United States. Today it’s over 2.3 million. The real crime here is the advent of the private prison industry. Billions of dollars are made off human suffering and injustice.

24.11.2020 - 19:50 [ Ayanna Pressley, Abgeordnete im US Repräsentantenhaus / Twitter ]

That’s right @briebriejoy „3 million people over the age of 60 are still paying on student loans.“

We all should be gasping. This debt is choking trillions, it is a crisis & demands urgent, bold action. The Biden-Harris Admin can cancel student debt Day 1 via Exec Order.

22.11.2020 - 14:02 [ Progressive International / Twitter ]

Guatemala’s government slashed $25 million from healthcare and education — just days after Hurricane Eta battered its poorest communities. The people are rising up. PI member @MSICG : “We demand a Constituent Assembly. This dictatorship has failed us.”

22.11.2020 - 13:02 [ New York Times ]

Protesters in Guatemala Set Fire to Congress Building Over Spending Cuts

Thousands of protesters took to the streets in Guatemala’s capital on Saturday, setting fire to the nation’s congressional building in a show of anger over a budget bill passed this week that cut funding for health care and education.

The demonstrations in Guatemala City, which also included peaceful marches in the central plaza, rocked a nation still recovering from back-to-back hurricanes that displaced thousands of people, destroyed homes and obliterated critical infrastructure.

16.11.2020 - 12:43 [ BBC ]

RCEP: Asia-Pacific countries form world’s largest trading bloc

Fifteen countries have formed the world’s largest trading bloc, covering nearly a third of the global economy.

The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia and New Zealand.

12.11.2020 - 11:09 [ Mark Sanders / Twitter ]

So the Pfizer vaccine is expected to be up to seven times more expensive than the Oxford one, reports the Times.

Welcome to profit first, morals later America.

22.10.2020 - 09:38 [ Esha / Twitter ]

[Thread] Obama years, in no particular order ….

(19.12.2017)

22.10.2020 - 08:53 [ theHill.com ]

Obama tears into Trump at Philadelphia rally: ‚The next 13 days will matter for decades to come‘

Obama framed the election as a battle for democracy.

“Our democracy is not gonna work if the people who are supposed to be our leaders lie every day and just make things up,” Obama said. “This notion of truthfulness and democracy and citizenship and being responsible — these aren’t Republican or Democratic principles. They’re American principles. … We need to reclaim them.”

21.10.2020 - 11:25 [ Pew Research Center ]

In U.S. and UK, Globalization Leaves Some Feeling ‘Left Behind’ or ‘Swept Up’

(05.10.2020)

In the course of the focus group discussions, participants observed that globalization extends beyond economic issues, such as trade, multinational corporations and open markets, to questions of governance, sovereignty and the connectivity made possible by new communication technology. Core to the discussion of globalization’s political implications was the role and influence of multinational or multilateral organizations such as the UN, the World Bank and – in the case of the UK – the EU. Particularly for participants who were less comfortable with globalization, these organizations were framed in terms of implications for the nation-state.

21.10.2020 - 11:16 [ SkyNews.com.au ]

Trump: ‚Joe Biden a servant of the globalists, lobbyists and Washington vultures‘

President Donald Trump says “big deals” are being done behind the scenes between the Democratic party and large companies in order rake in large donations for the campaign trail.

Mr Trump accused Democratic nominee Joe Biden of being a “servant of the globalists, lobbyists and Washington vultures who got rich bleeding America dry”.

21.10.2020 - 11:09 [ theHill.com ]

Biden holds massive cash advantage over Trump ahead of Election Day

According to new filings with the Federal Election Commission, Biden entered October with over $177 million in the bank, compared with $63.1 million for the president, marking a sharp reversal from earlier in the cycle when Trump’s cash advantage seemed insurmountable.

01.10.2020 - 00:17 [ Xinhuanet ]

China, Indonesia sign MoU to boost use of local currencies

The authorities believe it will positively contribute to encouraging the use of local currencies for the settlement of trade and direct investment between the two countries, the statement said.

28.09.2020 - 16:53 [ @travisburgess / Twitter ]

Who was President at the time when Trump wasn’t paying any income tax?

28.09.2020 - 16:40 [ New York Times ]

The President’s Taxes: Long-Concealed Records Show Trump’s Chronic Losses and Years of Tax Avoidance

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

19.09.2020 - 10:30 [ Colin Todhunter / Global Research ]

Neoliberal Death Knell for Indian Agriculture

The proposed legislation will enable transnational agri-food corporations like Cargill and Walmart and home-grown billionaire capitalists like Gautam Adani and his agribusiness conglomerate and Mukesh Ambini and his Reliance retail chain to decide on what is to be cultivated, how much of it is to be cultivated within India and how it is to be produced and processed. From seed to field to plate, the corporate take-over of the food and agriculture chain will be complete.

04.09.2020 - 03:44 [ Common Dreams ]

A Message to Senate Democrats: Tribal Lands Are Not Carbon Dumping Grounds

Carbon pricing is a term that was later popularized by the World Bank to include carbon trading (cap-and-trade and offsets), carbon taxes, REDD+ and voluntary carbon markets schemes. This allowed corporations to secure additional profit through trading carbon credits and in some cases tax breaks.

25.08.2020 - 21:53 [ CounterPunch ]

The Architecture of Surveillance in Northern Virginia

Even assuming that most of their jobs are pointless, it’s a lot of damn people keeping our rebellious impulses in check. Then there’s Fort Belvoir, Andrews Airforce Base, Quantico, Anacostia-Bolling. US Defense Services. Navy Intelligence. Department of Homeland Security. The National Reconnaissance Office. The Bureau of Intelligence and Research. The Office of Intelligence and Analysis. The NSA, FBI, CIA. Booz Allen Hamilton. Boeing. Humana. Raytheon. BAE Systems. General Dynamics. Northrup Grumman. Lockheed Martin.

A truly high maintenance group, the ruling class.

22.08.2020 - 10:00 [ Waleed Shahid / Twitter ]

I didn’t think Biden would open with Ella Baker. Ella Baker, 1974: „You and I cannot be free in America or anywhere else where there is capitalism and imperialism.“

21.08.2020 - 15:14 [ David Sirota / Substack ]

Team Biden Now Signals Austerity, Despite Campaign Pledges

To review the situation: earlier this month, Bloomberg News reported that Biden’s “campaign rolled out a $3.5 trillion economic program over the past month” — one that “promises to invest in clean energy and caregiving, buy more made-in-America goods, and start narrowing the country’s racial wealth gaps.” This, said the news service, was proof that Biden no longer adhered to an ideology of austerity and deficit hawkery — which would be good news.

But then on the eve of Biden’s convention speech, the Democratic nominee’s top aide suggested to Washington reporters that, in fact, that’s not true.

18.08.2020 - 16:43 [ @jvgraz / Twitter ]

We believe you Michelle. Remember when we thought it couldn’t get worse after Bush and your husband proved us all wrong?

18.08.2020 - 11:59 [ teleSUR ]

Chile: Mapuche People Call for Actions Against Capitalism

„We support the machi Celestino Cordova’s struggle and all the Mapuche political prisoners,“ the Indigenous organization added.

They are heroes „who demand the vindication and autonomy of our territory. Together we will resist our real historical enemies,“ CAM announced.

15.07.2020 - 14:18 [ theHill.com ]

Battle brewing on coronavirus relief oversight

The three independent oversight panels set up by Congress in the bipartisan CARES Act almost four months ago have all encountered serious obstacles — sometimes because of resistance from the White House, other times due to drafting oversights in the authorizing legislation.

As a result, lawmakers and the public may not have a full understanding of how coronavirus relief aid is being spent until after the election. In the meantime, Congress and the White House are moving toward another pandemic bill that’s expected to carry a price tag of at least $1 trillion.

15.07.2020 - 13:56 [ Washington Post ]

The end of small business: Giant corporations may be the only survivors in the post-pandemic economy

For decades, large businesses have been taking market share from small businesses, and the corporations at the top of the pyramid have been consolidating into ever-bigger megacorporations. In the 1980s, half of retail shopping took place in independent stores; today, it is less than one-quarter. From 2002 to 2017, Home Depot and Lowes almost doubled their joint share of the home-improvement retail market, from 42 to 81 percent. Even before the coronavirus struck, in 43 metropolitan areas more than half of all groceries were bought at Walmart.

14.07.2020 - 16:25 [ New York Times ]

Caught in ‘Ideological Spiral,’ U.S. and China Drift Toward Cold War

Relations are in free fall. Lines are being drawn. As the two superpowers clash over technology, territory and clout, a new geopolitical era is dawning.

05.07.2020 - 10:29 [ CBS News / Youtube ]

Obama advises Kanye West on 2020 White House run

(Oct 10, 2015)

The president spoke at a Democratic National Committee fundraiser in San Francisco, where the hip hop artist will later perform. Mr. Obama has a few political nuggets to pass on for West’s 2020 bid for the presidency.

18.06.2020 - 18:33 [ Boston Consulting Group ]

Global Wealth 2020—20th Edition: The Future of Wealth Management—A CEO Agenda

Personal financial wealth has soared over the past two
decades—nearly tripling on a global basis from $80.5
trillion at the end of 1999 to $226.4 trillion at the end of 2019.1 (See Exhibit 1.) That trajectory is even more impressive in light of the many economic disruptions that have occurred during this period.

01.06.2020 - 19:46 [ Gareth Porter, investigative historian and journalist on the national security state / Twitter ]

The Democratic Party elite — especially those in the „national security“ elite — must be called to account for continuing their long-running endeavor of distracting Americans from the realities of this country by repeating this pathetically lame #Russia conspiracy claim.

28.05.2020 - 02:13 [ Center for Biological Diversity ]

Trump Administration Again OKs Oil Drilling in California’s Carrizo Plain National Monument

On the eve of a holiday weekend and during a global pandemic, the Trump administration last week approved a new oil well and pipeline in Carrizo Plain National Monument. It would be the first well drilled in the monument since it was established in 2001.

The Bureau of Land Management originally approved the well and pipeline two years ago but withdrew that approval in July 2019 after Los Padres ForestWatch and Center for Biological Diversity filed objections. The conservation groups cited the well’s potential harm to wildlife, views and the climate.

11.05.2020 - 00:18 [ Common Dreams ]

Farmers Are Destroying Mountains of Food. Here’s What To Do About It

Crises tend to expose pre-existing societal malfunctions, and the Covid-19 pandemic has provided a bleak view into our political and economic soul. This March and April, even as an astounding 30 million Americans plunged into unemployment and food bank needs soared, farmers across the US destroyed heartbreaking amounts of food to stem mounting financial losses.

In scenes reminiscent of the Great Depression, dairy farmers dumped lakes of fresh cow’s milk (3.7m gallons a day in early April, now about 1.5 million per day), hog and chicken farmers aborted piglets and euthanized hens by the thousands, and crop growers plowed acres of vegetables into the ground as the nation’s brittle and anarchic food supply chain began to snap and crumble.

06.05.2020 - 14:31 [ Saagar Enjeti, Host of Rising w/ Krystal and Saagar / Twitter ]

You can’t make this stuff up. Chinese State media citing CATO institute reports on free trade

05.05.2020 - 22:00 [ theIntercept.com ]

“Capital in the 21st Century”: Finally, a Movie That Tells the Story of How We Got Into This Mess

All societies maintain what anthropologists call “social silence” about the society’s most significant subjects. As Tett puts it, what matters most “is not discussed because those topics are considered boring, irrelevant, taboo, or just unthinkable.”

“Capital in the 21st Century” understands that the daily facts about capitalism seem boring, irrelevant, etc., to most people because they’re not part of a story. They’re like baseball scores when you don’t know anything about baseball’s rules or teams or history. But understanding the story of capitalism is like understanding all of that about baseball, plus having a team to root for, and realizing that, if your team loses, you’re going to die.

02.05.2020 - 17:48 [ Coalition to Oppose the Arms Trade - coat.ncf.ca ]

William S. Knudsen (1879-1948)

Knudsen became president of GM in 1937 and served in that position until 1940.

That year, President Roosevelt’s National Defense Advisory Commission was revived and Knudsen was put in charge. He probably felt at home with U.S. Steel’s Edward Stettinius, a Council on Foreign Relations member who later became Secretary of State (1944-1945), and Sears’ chairman, Donald Nelson, the anti-Semite who chaired the America First Committee, an influential outfit that strongly opposed fighting Nazism. By 1941, Knudsen was co-chairing the Office of Production Management to oversee the country’s armament program. He probably felt less at home though with Roosevelt’s choice of co-chair, Sidney Hillman, a Jewish labour leader. But, all-in-all, WWII was highly profitable for Knudsen and his company. GM received $14 billion in contracts from the U.S. War Production Board, which was conveniently chaired by Knudson. GM’s vehicle factories in Germany churned out most of Hitler’s army trucks and many bomber aircraft engines for the Nazi war effort. In 1942, Knudsen was recognized in a special way by the U.S. Army. No he wasn’t arrested for conflict of interest or conspiring to arm the enemy, he became the first civilian to be made a U.S. Army General.

02.05.2020 - 11:04 [ the Hill ]

Big banks are growing due to coronavirus — that’s an ominous sign

(01.05.2020)

Collectively, the ten largest U.S. banks expanded by more than $1.2 trillion in the first quarter of 2020. JPMorgan alone grew by nearly 20 percent, becoming the United States’ first bank with $3 trillion in assets. The bank took in $273 billion in new deposits in just three months. That’s equivalent to JPMorgan acquiring PNC Bank — the country’s seventh largest depository institution.

02.05.2020 - 10:45 [ Archives.gov ]

Guide to House Records: Chapter 22: 1910-1946 Nazi and Other Propaganda

22.87 The committee was frequently referred to as the McCormack-Dickstein Committee in reference to its chairman and vice chairman, John W. McCormack of Massachusetts and Samuel Dickstein of New York. It conducted public and executive hearings intermittently between April 26 and December 29, 1934, in Washington, DC; New York; Chicago; Los Angeles; Newark; and Asheville, NC, examining hundreds of witnesses and accumulating more than 4,300 pages of testimony. The committee accumulated evidence regarding individuals and organizations who worked to establish in the United States policies followed by the Nazis in Germany, the Fascists in Italy, and the Communists in Russia. The committee gave particular attention to the organization and activities of Friends of New Germany and Silver Shirts of America. The committee submitted its report on February 15, 1935 (H. Rept. 153, 74th Cong., 1st sess., Serial 9890).

02.05.2020 - 10:31 [ BBC ]

The Whitehouse Coup

(23. July 2007)

Document uncovers details of a planned coup in the USA in 1933 by right-wing American businessmen

The coup was aimed at toppling President Franklin D Roosevelt with the help of half-a-million war veterans. The plotters, who were alleged to involve some of the most famous families in America, (owners of Heinz, Birds Eye, Goodtea, Maxwell Hse & George Bush’s Grandfather, Prescott) believed that their country should adopt the policies of Hitler and Mussolini to beat the great depression.

02.05.2020 - 10:28 [ Counterpunch.org ]

Wall Street’s Failed 1934 Coup

(2. December 2011)

Not a one of them was ever called to testify or was charged with Treason. Virtually all of them were founding members of the Council on Foreign Relations (CFR).

The League was headed by the DuPont and J.P Morgan cartels and had major support from Andrew Mellon Associates, Pew (Sun Oil), Rockefeller Associates, E.F. Hutton Associates, U.S. Steel, General Motors, Chase, Standard Oil and Goodyear Tires.

23.04.2020 - 02:36 [ Global Research ]

Covid-19: Check the Source of your Information! War against… Corruption?

I am a doctor: seven years at medical school, three years of applications, four years of doctoral studies to obtain my MD in Belgium, in 1995. From 1997 to 2003, I specialised in anaesthesia-recovery, then in intensive care. For the last 17 years, I have worked in this field, now in the spotlight during this viral pandemic called Covid-19. I am therefore particularly qualified from a medical standpoint. That’s where I stand out, and I am mainly guided in my profession by the motto passed down from the early days of medicine in Antiquity: “Primum non nocere” or in other words: “First, do no harm.”

21.04.2020 - 23:37 [ DailyMail.co.uk ]

Bank of England boss Andrew Bailey warns against easing social distancing too early and says the psychological effects of a ‚false start‘ that forces Britons back into lockdown could damage economy more

– Andrew Bailey told the Daily Mail a premature end to restrictions could result in a loss of confidence
– The Bank of England governor issued the stark warning at a time of increasingly heated debate over lockdown
– It comes as ‚hawks‘ have been advocating for early easing of restrictions to save the huge costs to economy
– On the other side, ‚doves‘ argue relaxing constraints too early would be reckless and devastating for the NHS

16.04.2020 - 06:07 [ teleSUR ]

Billionaire Jeff Bezos Makes US$24 Billion More Amid Pandemic

The index updates followed a report published Saturday by Forbes about how „market gains led to a combined US$51.3 billion boost for 10 of the world’s billionaires since the market closed a week ago, on April 2.“ Bezos gained US$6.8 billion in that time.

14.04.2020 - 08:44 [ Express.co.uk ]

Italian MEP sheds light on Germany’s ‚diabolical EU plan‘ to push its interests forward

(12.04.2020)

„It has been like this for years.“

The Italian politician added: „What Germany is doing is disgusting and I believe that the EU will look very different when this virus is over.

„The UK could have not made a better decision in leaving this bloc.“

14.04.2020 - 08:20 [ Ansa.it ]

We’ll keep fighting for Eurobonds-Conte: Premier accuses opposition of lying about ESM

He also accused the opposition centre-right of „lying by saying that we will use the ESM“ adding „they weaken Italy in Europe“.
„We won’t activate the ESM and I won’t sign up to any proposal that is not ambitious,“ he said.

12.04.2020 - 12:19 [ Politico.com ]

2020 elections: Barack Obama wins the Democratic primary

In the end, the most influential politician of 2020 might be the one who has been the most silent.

With Bernie Sanders exiting the race and Joe Biden taking on the mantle of presumptive nominee, the man who hovered quietly over the race for more than a year, Barack Obama, will soon return to the political fray.

04.04.2020 - 14:04 [ USA Today ]

Trump blasts 3M as company says mask demand far exceeds ability to produce them

Earlier Thursday, the White House invoked the Defense Production Act to acquire more masks with N95 respirators from 3M.

In a statement posted Friday, 3M said the White House formally invoked the act to prioritize N95 orders from the Federal Emergency Management Agency. The company also said it has gone „above and beyond“ to make enough respirators available in the U.S.

04.04.2020 - 13:40 [ investorplace.com ]

3M Stock Could See a Billion-Dollar Boost from Trump

(06.03.2020)

It creates big opportunity, which is especially true for face mask companies after the U.S. Health and Human Services says the U.S. only has 10% of face masks needed for a full-blown virus pandemic. They estimate the U.S. would need at least 3.5 billion medical-grade N95 masks.

Better, the Trump Administration has plans to source millions of masks from 3M to help combat the virus threat. If so, that could generate up to $1 billion in sales for the company. Vice President Mike Pence said in a press conference:

03.04.2020 - 04:45 [ Colin Todhunter / Global Research ]

Locked Down and Locking in the New Global Order

Professor Michel Chossudovsky has looked at who could ultimately benefit from current events and concludes that certain pharmaceutical companies could be (are already) major beneficiaries as they receive lavish funding to develop vaccines. He asks whether we can trust the main actors behind what could amount to a multibillion dollar global (compulsory) vaccination (surveillance) project.

02.04.2020 - 04:16 [ Xinhuanet ]

China lifts foreign ownership limits on securities, fund management firms

Foreign financial institutions have acted quickly. On Friday, Morgan Stanley said it had received CSRC approval to increase its shareholding in its China securities joint venture, Morgan Stanley Huaxin Securities Company Limited, from 49 percent to 51 percent.

On the same day, Goldman Sachs said it had been approved to increase its ownership in its China joint venture, Goldman Sachs Gao Hua Securities Company Limited, from 33 percent to 51 percent.

28.03.2020 - 21:55 [ Prof Michel Chossudovsky / Global Research ]

What Happens In the Wake of the COVID-19 Lockdown? Economic Destruction, Global Poverty, Bankruptcies, Mass Unemployment. Neoliberalism to the Rescue

What prevails is an atmosphere of fear and uncertainty which enables powerful financial interests to manipulate the stock market and consolidate their financial positions. This crisis has led to an unprecedented concentration of money wealth.

27.03.2020 - 18:49 [ Washington Post ]

Gouged prices, middlemen and medical supply chaos: Why governors are so upset with Trump

Masks that used to cost pennies now cost several dollars. Companies outside the traditional supply chain offer wildly varying levels of price and quality. Health authorities say they have few other choices to meet their needs in a ‘dog-eat-dog’ battle.

12.03.2020 - 03:22 [ junge Welt ]

Chile: 30 Jahre nach Pinochet

Piñera, dessen zweite Amtszeit am Mittwoch vor zwei Jahren begann, sieht sich seit Oktober 2019 einer Massenbewegung gegenüber, die ein Ende des Neoliberalismus sowie eine neue Verfassung fordert. Das aktuelle Grundgesetz gilt in großen Teilen als Erbe der Pinochet-Diktatur.

12.03.2020 - 03:11 [ teleSUR ]

Ecuador: Citizens Reject Economic Decisions to Please the IMF

After the decisions announced by President Lenin Moreno on Tuesday night, thousands of Ecuadorian citizens used social media to express their outrage at a set of „brutal economic decisions“, popularly known as „Paquetazo“, which are aimed to favor the International Monetary Fund (IMF) agenda in this South American country.

11.03.2020 - 07:46 [ wiktionary.org ]

every man is the architect of his own fortune

Each person is the chief cause of their success or failure in life.

10.03.2020 - 09:42 [ Jimmy Dore / Twitter ]

Still seeing lots of people aghast at the Democratic party because they are “risking losing to a Trump”. For the last time: They don’t care if they “lose” to Trump!!! What they can’t “RISK” is winning with a progressive. Hope that helps.

10.03.2020 - 09:17 [ Forbes ]

The Fed’s $16 Trillion Bailouts Under-Reported

(20.09.2011)

It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around.

10.03.2020 - 09:10 [ CNN Money ]

CNNMoney.com’s bailout tracker

Troubled ASSET RELIEF PROGRAM
Financial rescue plan aimed at restoring liquidity to the financial markets

(…)

Committed : $11 trillion (total)
Invested: $3 trillion (total)

10.03.2020 - 09:01 [ Naomi Klein / Twitter ]

Folks, real talk: we are now the edge of a global economic crisis. The last time this happened, the Biden wing of the Dem party handed trillions to the banks who created the crisis, did not prosecute, and let workers, students and homeowners pay the price. Do not do it again.

10.03.2020 - 07:49 [ theHill.com ]

Poll: Majority of Democratic voters say US economic system is unfair

For Americans overall, the March 1-2 survey found 53 percent of registered voters said the U.S. economic system is mostly or somewhat fair while 47 percent said the opposite.

07.03.2020 - 22:10 [ Matt Stoller / Twitter ]

The entire 2020 primary is about whether Democrats can come to grips with what a shitty President Obama was. The answer appears to be no they cannot.

06.03.2020 - 21:04 [ New York Times ]

How Working-Class Life Is Killing Americans, in Charts

The combined result is a divergence in the life expectancy of white college graduates and non-graduates. Overall mortality for whites between the ages of 45 and 54 has held roughly steady in the last 25 years. But that average hides a big increase in death rates for non-graduates and a big decline for graduates.

06.03.2020 - 20:59 [ theHill.com ]

Democrats should be really, really afraid of a contested nominating convention

Contested Democratic conventions in the past led to catastrophe. In 1860, the Democratic convention broke up over the issue of slavery and in the end two Democratic candidates, one from the south, the other from the north, ran for president.

04.03.2020 - 19:43 [ Bloomberg.com ]

Stocks Extend Gains on Stimulus Hopes, Biden Wins: Markets Wrap

The S&P 500 headed for its second gain in three days after former Vice President Joe Biden won a majority of state primaries on Super Tuesday, dulling some investors concerns about the possibility of a more liberal candidate challenging President Donald Trump in November.

26.02.2020 - 13:13 [ The Economic Times ]

India sees privatization as answer to flailing state power firms

In one of the most recent such moves, Tata Power Co. last year acquired one of the distribution utilities in the state of Odisha.

26.02.2020 - 13:06 [ Reuters ]

Tunisian parliament debates new coalition with economy in focus

Introducing his proposed government’s program in parliament on Wednesday, Fakhfakh said its priorities would include fighting widespread corruption and reforming public services and the state phosphate producer.