Liberalism’s Death Bell Tolls, Part 3: J’accuse la gauche liberale Richard Gale and Gary Null Progressive Radio Network, March 6, 2013 It is past the time for liberalism to continue to function without a human face. It is time for it to stand accused alongside the conservative and religious right as an ideology dedicated to disaster capitalism, ecological demolition, …
No growth boost from developing economies says World Bank By Nick Beams
In the years immediately following the global financial crisis of 2008, the claim was frequently advanced that, while the major capitalist economies were severely impacted, the so-called developing economies would provide a new base for world growth. This upbeat assessment has looked increasingly fragile in the recent period. It has now been officially buried in the latest report on the …
Failures of Central Banks, Interest Rates, Derivatives and Crisis in the Credit Market By Bill Holter
Global markets are changing drastically and showing volatilities like we saw back in late 2008. I am not talking about stock markets, it is the debt and currency markets that are schizophrenic. Oddly, even after all of the various Western “QE’s”, liquidity suddenly looks like it is drying up. A great article as to why even the depth in the …
Russia, China and the Battle Against Dollar Hegemony by MICHAEL HUDSON and THE SAKER
The Saker: We hear that the Ukraine will have to declare a default, but that it will probably be a “technical” default as opposed to an official one. Some say that the decision of the Rada to allow Iatseniuk to chose whom to pay is already such a “technical default”. Is there such thing as a “technical default” and, if …
HSBC fears world recession with no lifeboats left
The world economy is disturbingly close to stall speed. The United Nationshas cut its global growth forecast for this year to 2.8pc, the latest of the multinational bodies to retreat. We are not yet in the danger zone but this pace is only slightly above the 2.5pc rate that used to be regarded as a recession for the international system as …
The escalation of global financial parasitism – Nick Beams
The announcement last week by the European Central Bank (ECB) that it was going to front-load asset purchases under its quantitative easing program was another revealing insight into the state of global financial markets. It underscored their volatility and the lack of any overall plan by the financial authorities, supposedly in charge, who rush from one trouble spot to another …
Trans-Pacific Trade Deal Is Latest Threat to Our Democracy – John Buell
‘Neoliberal capitalism is already global,’ writes Buell. ‘Resistance to it must itself be global and democratic.’ Conservatives warn us that deficit spending will turn the U.S. into a fiscal basket case, like Greece. No longer truly independent, Greece is ruled by the IMF, the ECB, and the European Commission. What conservatives seldom point out is that membership in the Eurozone …
Bond market sell-off signals mounting financial crisis – Nick Beams
The instability of the global financial system and the potential for another crash have been underscored by a major sell-off of government bonds this week. Yesterday saw European markets display levels of volatility not seen since the euro zone debt crisis turmoil of three years ago. In the course of the day, the yield on the German 10-year government bond, …
The Clintons and Their Banker Friends – By Nomi Prins
[This piece has been adapted and updated by Nomi Prins from chapters 18 and 19 of her book All the Presidents’ Bankers: The Hidden Alliances that Drive American Power, just out in paperback (Nation Books).] The past, especially the political past, doesn’t just provide clues to the present. In the realm of the presidency and Wall Street, it provides an ongoing pathway …
Junk Bonds Are The New Haven Assets – Anchalee Worrachate Sally Bakewell Katie Linsell
The new fixed-income haven is, of all things, the market for junk bonds. With government bonds in Germany to Japan yielding less than nothing, money is pouring into exchange-traded funds that buy speculative-grade debt, traditionally the riskiest of fixed-income assets. The pace is staggering. So far this year, about $9 billion has flowed into the funds globally, a significant chunk …