Jack reviews today’s just released jobs numbers confirming his prior prediction jobs growth would slow in wake of US GDP slowdown last quarter. Plus an overview of US economy and a prediction of recession in early 2017. In the second half of the show, a review of latest developments in global economy–with commentary on how the IMF outmaneuvered the Syriza government in Greece again, the likelihood of UK ‘Brexit’ from the EU, $10 trillion in negative interest rates and more than $10 trillion in global non-performing bank loans, the recent G7 meeting in Japan and prime minister Abe’s warning of another ‘Lehman event’ on the horizon, the European Central Bank’s recent decision to now buy corporation bonds, like Japan, China’s rotating financial asset bubbles, eventual currency devaluation, capital flight, corporate bankruptcies, and out of control private sector debt acceleration. (see jackrasmus.com blog for recent articles, ‘Is US Economy Heading for Another Recession?’ and ‘How the IMF outmaneuvered Syriza—Again’)
Jack Rasmus welcomes Pablo Vivanco, political commentator in Quito, Ecuador to provide a latest update on the right wing economic and political forces in ascendance in South America, focusing on the latest developments in Argentina, Brazil and Venezuela. As the economic crisis deepens throughout the region due to forces beyond the control of progressive governments in the region—i.e. falling oil and commodity prices, collapsing currencies, capital flight, slowing global economy—right wing forces (with assistance of US government and elite) have launched in the past year an intense attack throughout South America to reverse the tide of progressive governments that came to power since 2000. Vivanco describes the strategies and tactics, economic and political, currently being employed by the nascent Right Wing Offensive, including efforts to depose recently duly elected governments in Venezuela and Brazil and the launching of intense austerity measures, shutting down of independent media, mass layoffs, while rewarding of global bankers and investors by the new right wing government of billionaire, Mauricio Macri, in Argentina. New popular movements of resistance are described by Vivanco, as are efforts of the new right wing forces and governments to stifle independent journalists and media outlets throughout the region.
Pablo Vivanco is currently Director of the English Division of Telesur Media in Latin America, a consortium of progressive Latin American countries. A former radio host of ‘Voces Latinas’, he is a long time activist in movements for progressive change in Latin America, living and working in Quito. For timely reports in English on daily Latin American political events, go to: http://www.telesurtv.net/english/index.html
Everything seems to be going wrong in the global economy right now. Chinese growth is slowing, Hong Kong’s Hang Seng is officially in a bear market, Greece is heading into elections, and emerging markets around the world are feeling the strain of the strong US dollar. In the advanced world, the United States and United Kingdom are seeing some decent growth, …