Banking

By Nomi Prins | – ( Tomdispatch.com ) – Sometimes things only make sense when seen through a magnifying lens. As it happens, I’m thinking about reality, the very American and global reality clearly repeating itself as 2021 begins. We all know, of course, that we’re living through a once-in-a-century-style pandemic; that millions of people […]

Banking

Top Ways British Trumpism, a.k.a “Brexit” Will make Britain Poorer and Weaker, but also more Muslim

Juan Cole

Ann Arbor (Informed Comment) – Boris Johnson’s government has achieved a relatively “hard Brexit” at the last minute, reaching a deal on its departure from the European Union. This is a triumph for British Trumpism, and it is no wonder that Trump himself was a cheerleader for it. It is economically a bad deal for […]

Banking

How the concentration of property rights within corporations has led to a rejection of democracy and a rise in inequality

British Policy and Politics

By Jean-Philippe Robé | – Jean-Philippe Robé discusses how multinational enterprises morphed into political organisations with global reach and power, but without the corresponding responsibilities. He argues that the concentration of property rights within corporations has led to the rejection of democracy as an ineffective system of government and to the rise in inequality. ( […]

Banking

Say no to Austerity for Workers: McConnell and the GOP are about to pull the “We have no money” scam

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Not surprisingly the national debt is a subject of concern. Liberal and Left economists, most of whom supported the CARES relief package, knew and predicted that once the Trump tax reduction for the rich had become law—despite the massive increases in government debt it entailed– debt would […]

Banking

Whoever wins the Election will face Severe Eviction Crisis, as 30 million brace for Homelessness

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Whoever wins Tuesday’s election is virtually certain to be confronted by a severe foreclosure and eviction crisis as state and local governments face acute budget shortfalls. These crises interact with each other and in ways that intensify the economic damage they inflict. The harm is also psychological […]

Banking

ODNI Blamed Syrian Banks, but Did the West’s Deutsche Bank Facilitate ISIL Finances in Mosul?

Middle East Monitor

By Hala Nouhad Nasreddine | – ( Middle East Monitor) The Islamic State’s infamous rule over vast areas of Iraq during 2014 and 2016 not only led to a humanitarian crisis, but also left the country’s economy depleted. Its expansion in Iraq, marked by its control over vast areas of the country, most notably capturing […]

Banking

Also, Defund the CEOs

Sam Pizzigati

(Inequality.org) – America’s dirtiest three-letter word may now be “CEO,” and our ongoing economic meltdown is only making that tag even dirtier. Chef executives the nation over have spent this past spring scheming to keep their pockets stuffed while their workers suffer wage cuts, layoffs, and even death by Covid-19. Not all CEOs, of course. […]

Banking

Once the “Paris of the Middle East,” Lebanon’s Financial and Health Crises are Tearing it Apart

Jamal Dillman-Hasso

Ann Arbor (Informed Comment) – Lebanon may have survived its bubbles and wars decades ago, but the combination of economic crisis and the coronavirus may have put it in a serious position once again. During the pandemic, Lebanon’s once-vibrant tourist industry is moribund (some two million visited the country of four million in 2019), and […]

Banking

The Great Depression, Coronavirus Style: Crashes, Then and Now

Nomi Prins

(Tomdispatch.com) – Many economists believe that a recession is already underway. So do millions of Americans struggling with bills and job losses. While the ghosts of the 2008 financial crisis that sent inequality soaring to new heights in this country are still with us, it’s become abundantly clear that the economic disaster brought on by […]