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No Surprise: Wall Street Wants to Raise the Target Inflation Rate above 2 Percent
No Surprise: Wall Street Wants to Raise the Target Inflation Rate above 2 Percent Price inflation in the United States remains stubbornly high, with October’s print at 7.7 percent. The Fed’s preferred measure, so-called core inflation is only two-tenths of a percent below 40-year highs, at 6.3 percent. Yet, it was just last year that […]
The Mother of all Economic Crises
The Mother of all Economic Crises Nouriel Roubini, a former advisor to the International Monetary Fund and member of President Clinton’s Council of Economic Advisors, was one of the few “mainstream” economists to predict the collapse of the housing bubble. Now Roubini is warning that the staggering amounts of debt held by individuals, businesses, and […]
The “Barbarous Relic” Helped Enable a World More Civilized than Today’s
The “Barbarous Relic” Helped Enable a World More Civilized than Today’s One of history’s greatest ironies is that gold detractors refer to the metal as the barbarous relic. In fact, the abandonment of gold has put civilization as we know it at risk of extinction. The gold coin standard that had served Western economies so […]
What Does the Fed’s Jerome Powell Have Up His Sleeve?
What Does the Fed’s Jerome Powell Have Up His Sleeve? The Real Goal of Fed Policy: Breaking Inflation, the Middle Class or the Bubble Economy? “There is no sense that inflation is coming down,” said Federal Reserve Chairman Jerome Powell at a November 2 press conference, — this despite eight months of aggressive interest rate hikes and “quantitative […]
Coast-To-Coast Winter Storm Sends US NatGas Surging
Coast-To-Coast Winter Storm Sends US NatGas Surging In what’s forecasted to be the first coast-to-coast major winter storm of the season across the Lower 48, traders have furiously panic bid US natural gas futures due to the prospects of increased heating demand. On Sunday, wintery precipitation, powerful winds, and heavy rains battered Intermountain West as a powerful […]
EU’s Oil Price Cap Creates a Price Cap… on Stupidity
EU’s Oil Price Cap Creates a Price Cap… on Stupidity MOSCOW, RUSSIA DECEMBER 1, 2021: Russia’s Foreign Ministry Spokesperson Maria Zakharova gives a weekly press briefing. Russian Foreign Ministry/TASS The EU and the US went forward with their long-debated, long-telegraphed move to put a price cap on Russian oil at $60 per barrel. By […]
Noam Chomsky: “We’re on the Road to a Form of Neofascism”
Noam Chomsky: “We’re on the Road to a Form of Neofascism” The ground is well prepared for neofascism to fill the void left by class war wrought by neoliberalism, says Chomsky. Trump supporters near the U.S. Capitol on January 6, 2021, in Washington, D.C.SHAY HORSE / NURPHOTO VIA GETTY IMAGES Neoliberalism has reigned supreme as […]
BIS warns of $80 trillion of hidden FX swap debt
BIS warns of $80 trillion of hidden FX swap debt LONDON — The Bank for International Settlements (BIS) has warned that pension funds and other ‘non-bank’ financial firms now have more than $80 trillion of hidden, off-balance sheet dollar debt in the form of FX swaps. Dubbed the central bank to the world’s central banks, […]
The US is a rogue state leading the world towards ecological collapse
The US is a rogue state leading the world towards ecological collapse It’s not just indifference. It’s an active, and deadly, cavalier attitude towards the lives of others: an example other nations follow Illustration: Eleanor Shakespeare There are two extraordinary facts about the convention on biological diversity, whose members are meeting in Montreal now to discuss the […]
BlackRock: Prepare For Recession “Unlike Any Other”… And What Worked Before “Won’t Work Now”
BlackRock: Prepare For Recession “Unlike Any Other”… And What Worked Before “Won’t Work Now” The world’s largest investment manager has gone all in – and says a global recession is right around the corner. What’s more, the financial tricks deployed by Central Banks in the past ‘won’t work this time.’ According to BlackRock, the global […]
Nigeria Limits ATM Withdrawals To $45 Per Day To Force Govt-Controlled Digital Payments
Nigeria Limits ATM Withdrawals To $45 Per Day To Force Govt-Controlled Digital Payments A staggering number of Nigerians love Bitcoin, but hate government cryptocurrency (CBDCs). In April, leading cryptocurrency exchange KuCoin noted that 35% of the adult population in Nigeria – roughly 34 million adults aged 18-60, own bitcoin or other cryptocurrencies. But when it came to the country’s Central Bank Digital Currency […]
The macroeconomics of bank-created money and a Modern Debt Jubilee as a way out of the private debt trap
The macroeconomics of bank-created money and a Modern Debt Jubilee as a way out of the private debt trap My friend Dr. Sabri Oncu has established an innovative seminar program at Kadir Has University in Turkey. Called the “Kadir Has Lectures on Global Political Economy”, it has had lectures from a number of non-mainstream economists, […]
Our Obsession With Economic Growth is Deadly
Our Obsession With Economic Growth is Deadly
UK Warned by Farmers That It Is Facing a Food Supply Crisis
UK Warned by Farmers That It Is Facing a Food Supply Crisis Pigs are judged at the Dorset County Show, Dorchester, England, on Sept. 4, 2022. (Finnbarr Webster/Getty Images) In an emergency press conference, the National Farmers Union (NFU) said the government needed to step in to assist farmers who are under severe strain. The […]
