The Plutocracy Report – 05.11.18

The tenth installment of The Plutocracy Report begins with Vince ranting about the need to demand a new, simple, fair and equal tax system. It’s time for us to unite, make demands as a majority and finally be involved in the government process. After that he explores how the righties are seeing Trump as a hero in a delusional haze …


Alternative Visions – Global Economy Continues to Unravel As US GDP Slows to 0.7% – 01.29.16

More indicators show growing instability in the global economy, as US economy now appears to be slowing rapidly as well. Jack disassembles US 4th quarter 2015 initial GDP numbers, showing durable goods falling at the fastest rate since 1992, as business spending and inventories and exports continue to pose a problem into 2016. Jack predicts yet another ‘economic relapse’—the fifth in as many years—on the horizon for the US for 2016. Elsewhere, global instability continues to rise: Japan announces surprise negative interest rates, pre-empting Europe’s soon announcement of another QE expansion—which will intensify global currency wars further. China capital flight reaches $1 trillion, and Jack predicts inevitable Yuan devaluation coming. Italian banks in big trouble with more than $350 billion in non-performing bank loans (Europe more than $1.5 trillion). Why economists are confused about the correlation of stock price and oil price collapse occurring now. Jack’s view of unreliability of China stats confirmed by sacking of its statistics director this week, Wan Baoan. Japan stats with resignation of Akira Amani as well. Jack reviews billionaire speculator, George Soros’, predictions at interview at Davos last week, confirming China ‘hard landing’ underway and threat of spreading deflation, which Jack predicted in his book, ‘Systemic Fragility in the Global Economy’.


Eric Zuesse – America’s Subservience to Saud Family

The Saud royal family are by far the world’s largest buyers of US weapons. The King of Saudi Arabia is by far the world’s richest person, with a net worth well over a trillion dollars; and, when his (Aramco’s) 260 billion barrels of oil reserves were valued at $100 per barrel, his net worth was over $15 trillion. The King …


Peter Moskowski – The Billionaire Shit List, #20: Sergey Brin

Income inequality is at an all time high. The world’s 80 richest people have as much wealth as the poorest 50 percent. By 2016, Oxfam International predicts the richest one percent of people will own more than every other human on the planet. Billionaires, however, are not a necessary part of our great economy. They are, in fact, a giant vacuum sucking wealth from …


Deirdre Fulton – As Europe’s One Percent Flourishes, Millions Sink into Poverty

On a continent that is home to some of the world’s richest people, most profitable businesses, and most valuable assets—including 342 billionaires—more than 120 million people are at risk of poverty, exemplifying the “unacceptable” levels of inequality sweeping Europe in 2015. That’s according to Oxfam, whose new report, A Europe for the Few, Not the Many (pdf), warns that the excessive …


If We Don’t Overturn Citizens United, Congress Will Become Paid Employees of the Billionaire Class

I recently introduced an amendment at the Senate Budget Committee. It was pretty simple. It asked my Senate colleagues to begin the process of overturning the disastrous Supreme Court ruling on Citizens United, and to bring transparency and disclosure to the political process. Here’s what I asked my Senate colleagues to consider: Are we comfortable with an American political system …


Wealth of world’s billionaires surges past $7 trillion

The combined net worth of the world’s billionaires has reached a new high in 2015 of $7.05 trillion, according to the latest compilation published by Forbes magazine on Monday. There are a record 1,826 billionaires, each with an average wealth of $3.8 billion. Relative to last year, the world’s billionaires have increased their combined wealth by more than 10 percent, from $6.4 …