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Tag Archives: World Bank
World GDP in current US dollars seems to have peaked; this is a problem
World GDP in current US dollars seems to have peaked; this is a problem World GDP in current US dollars is in some sense the simplest world GDP calculation that a person might make. It is calculated by taking the GDP for each year for each country in the local currency (for example, yen) and converting […]
The Fallacy of Endless Economic Growth
THE FALLACY OF ENDLESS ECONOMIC GROWTH What economists around the world get wrong about the future. The idea that economic growth can continue forever on a finite planet is the unifying faith of industrial civilization. That it is nonsensical in the extreme, a deluded fantasy, doesn’t appear to bother us. We hear the holy truth […]
Eric Peters: “If China And The World Bank Are Right, We’re Headed For A Depression”
Eric Peters: “If China And The World Bank Are Right, We’re Headed For A Depression” “Some people blindly invested offshore and were in a rush to do so,” explained China’s central bank chief, justifying his recent capital controls. “Some of this outbound investment was not in line with our own policies and had no real […]
Toxic Politics Versus Better Economics
Toxic Politics Versus Better Economics NEW YORK – The relationship between politics and economics is changing. Advanced-country politicians are locked in bizarre, often toxic, conflicts, instead of acting on a growing economic consensus about how to escape a protracted period of low and unequal growth. This trend must be reversed, before it structurally cripples the […]
Demand for World Bank loans nears crisis levels
Demand for World Bank loans nears crisis levels Lending forecast at £25bn for 2016 as developing countries struggle to cope with weakening global economy A banner announces the 2016 spring meetings of the IMF and World Bank in Washington DC. Photograph: Mandel Ngan/AFP/Getty Images Demand for loans from the World Bank has reached levels unsurpassed outside of […]
Was There A Run On The Bank? JPM Caps Some ATM Withdrawals
Was There A Run On The Bank? JPM Caps Some ATM Withdrawals Under the auspices of “protecting clients from criminal activity,” JPMorgan Chase has decided to impose capital controls on . As WSJ reports, following the bank’s ATM modification to enable $100-bills to be dispensed with no limit, some customers started pulling out tens of thousands of dollars at […]
The Global Run On Physical Cash Has Begun: Why It Pays To Panic First
The Global Run On Physical Cash Has Begun: Why It Pays To Panic First Back in August 2012, when negative interest rates were still merely viewed as sheer monetary lunacy instead of pervasive global monetary reality that has pushed over $6 trillion in global bonds into negative yield territory, the NY Fed mused hypothetically about […]
The New Global Financial Cold War
The New Global Financial Cold War The Guns and Butter Interview Suppose a country owes money to another nation’s government or official agency. How can creditors collect, unless there’s an international court and an enforcement system? The IMF and the World Bank were part of that enforcement system and now they’re saying: ‘We’re not going […]
Central Banks Are Trojan Horses, Looting Their Host Nations
Central Banks Are Trojan Horses, Looting Their Host Nations A Nobel prize winning economist, former chief economist and senior vice president of the World Bank, and chairman of the President’s council of economic advisers (Joseph Stiglitz) says that the International Monetary Fund and World Bank loan money to third world countries as a way to force […]
“Time To Panic”? Nigeria Begs World Bank For Massive Loan As Dollar Reserves Dry Up
“Time To Panic”? Nigeria Begs World Bank For Massive Loan As Dollar Reserves Dry Up Having urged “don’t panic” just 4 short months ago, it appears Nigeria just did just that as the global dollar short squeeze forces the eight-month-old government of President Muhammadu Buhari to beg The World Bank and African Development Bank for $3.5bn in […]
The Big-Oil Bailouts Begin
The Big-Oil Bailouts Begin The hundred-billion-dollar question. Despite a bounce this week, low oil prices continue to sow fear, uncertainty, and mayhem across the emerging market complex. On Wednesday, it was leaked that the IMF and World Bank would dispatch a team to oil and gas-dependent Azerbaijan to negotiatea possible $4 billion emergency loan package in […]
The IMF Changes its Rules to Isolate China and Russia
The IMF Changes its Rules to Isolate China and Russia The nightmare scenario of U.S. geopolitical strategists seems to be coming true: foreign economic independence from U.S. control. Instead of privatizing and neoliberalizing the world under U.S.-centered financial planning and ownership, the Russian and Chinese governments are investing in neighboring economies on terms that cement […]
The Right Price for Preserving Our Climate
The Right Price for Preserving Our Climate WASHINGTON, DC – When world leaders convene in Paris this week for the United Nations Climate Change Conference, their task will be to reach a global agreement on curbing greenhouse-gas emissions. A successful outcome, demonstrating that countries can work together for the good of the planet, would send […]
