By Nick Beams, 14 January 2017
The central theme of the World Economic Forum report for this year’s annual gathering of the global elites is that the very legitimacy of “market capitalism” is being called into question.
By Nick Beams, 11 January 2017
The United States was the guarantor of the post-war economic order based on the lowering of tariffs and trade barriers under the rubric of “free trade,” but Trump’s “America First” agenda signals the collapse of that order.
By Nick Beams, 29 December 2016
US billionaires alone have increased their wealth by $77 billion due to the rise in the stock market since the election of Trump less than two months ago.
By Andre Damon, 24 December 2016
The vast scale of global violence this past year will be eclipsed only by what next year threatens to bring.
By Alex Lantier, 20 December 2016
As French finance minister in 2008, Lagarde failed to do due diligence to oppose calls for a €400 million state payoff to corporate raider Bernard Tapie.
By Barry Grey, 15 December 2016
Despite the Fed’s pledge to keep interest rates below previous norms, there were indications that, in the face of Trump’s inflationary policies, it could move quickly in the opposite direction.
By Nick Beams, 12 December 2016
The chief component in the rise in the Dow over the past month has been a 33 percent surge in shares of Goldman Sachs, accounting for 29 percent of the stock index’s ascent.
By Nick Beams, 10 December 2016
The move increases the odds of a government bailout that would impose major losses on small investors and bondholders.
By Nick Beams, 9 December 2016
President Mario Draghi emphasised that “uncertainty prevails everywhere” and it was very difficult to assess the long-term impact of the “radically new administration” in the US.
By Marianne Arens, 8 December 2016
Italy’s Senate voted in favour of the budget and thus cleared the way for Renzi’s resignation.
By Julie Hyland, 7 December 2016
Following seven years of austerity, the EU insists that Athens impose an extra €4.2 billion in austerity savings and further labour reforms, including abolishing collective bargaining.
By Nick Beams, 1 December 2016
The OPEC negotiations were marked by considerable tension, with warnings that oil price could fall to as low as $20 per barrel if no agreement were reached.
By Nick Beams, 29 November 2016
Finance capital sees the referendum as a test of whether Prime Minister Renzi can push though “market restructuring” of the banking system and deepen attacks on the working class.
By Peter Symonds, 25 November 2016
Trump has not only sunk the Trans Pacific Partnership but called into question the entire basis of the post-World War II order in the Asia Pacific.
By Mike Head, 21 November 2016
The meeting was dominated by anxiety and uncertainty in the face of an incoming Trump administration based on protectionist and nationalist policies.
By Nick Beams, 19 November 2016
The rise in interest rates and US bond yields could have major international implications, particularly for emerging markets.
By Nick Beams, 14 November 2016
The decline in emerging bond and currency markets hit Latin America, South Africa and Asia, driven by fears of rising interest rates and protectionist measures in the US.
By Nick Beams, 11 November 2016
The sharp rise in stock prices is being driven both by Trump’s pro-corporate policies and the support he has received from the Democratic Party establishment.
By Nick Beams, 10 November 2016
After initial fears of a market plunge, Wall Street reached near-record highs as investors decided that Trump’s policies could provide a road to increased wealth.
By Nick Beams, 3 November 2016
The US Federal Reserve kept interest rates on hold amid continuing uncertainty about the direction of policies in Europe and Japan.
By Nick Beams, 31 October 2016
Significant falls in the price of bonds last week could be the sign of greater turbulence to come amid uncertainty about the monetary policies of the world’s central banks.
By Nick Beams, 27 October 2016
Chinese firms are estimated to have about $18 trillion worth of debt, equivalent to 170 percent of the country’s gross domestic product.
By Jordan Shilton, 27 October 2016
Whether or not the deal is ultimately ratified, the conflicts over CETA have again starkly exposed the advanced state of decomposition of the European Union.
By Deepal Jayasekera, 26 October 2016
India’s attempt to use the BRICS summit to isolate Pakistan met with stiff Chinese opposition—underscoring the hardening of the Indo-US and Sino-Pakistani alliances.
By Nick Beams, 26 October 2016
Despite the wealth of vitally important data, there was a paucity of historical and political analysis on how ever-widening social inequality can be overcome.
By Nick Beams, 25 October 2016
Facts and figures featured in the analysis conducted by French political economist Thomas Piketty underscore that there is no possibility of combating ever-growing social inequality other than by means of socialist revolution.
By Nick Beams, 21 October 2016
The decision by the ECB not to indicate the future of its bond-buying program reflects deep divisions inside the central bank with growing opposition from Germany.
By Nick Beams, 17 October 2016
A conference convened by the Boston Federal Reserve revealed that neither the Fed nor bourgeois economics in general has an answer to the stagnation of the US and global economy.
By Nick Beams, 11 October 2016
The IMF meeting was dominated by the spectre of secular stagnation, global disintegration and the rising hostility of masses of people to the present economic and political order.
By Nick Beams, 8 October 2016
The currency’s sudden fall on Friday was a warning that capital inflows needed to finance the British current account deficit could dry up.
As geo-political and economic tensions mount
By Nick Beams, 7 October 2016
The International Monetary Fund said low and negative interest rates are reaching the limits of their effectiveness and could undermine the solvency of pension and insurance funds.
By Nick Beams, 5 October 2016
The International Monetary Fund has warned of a “deflationary trap” where further cuts in interest rates cannot provide a stimulus to the world economy.
By Stefan Steinberg, 4 October 2016
While the latest outbreak of transatlantic hostilities revolves around the perilous state of Deutsche Bank, it is not the only bank facing collapse.
By Nick Beams, 1 October 2016
The contradiction between booming financial markets and intractable slump in the underlying economy is assuming an ever more explosive form.
By Ulrich Rippert, 30 September 2016
Following the plunge in Deutsche Bank’s share price to its lowest level since 1983, Germany’s second largest bank, Commerzbank, has announced a major restructuring.
By Nick Beams, 29 September 2016
Both the World Trade Organisation and the International Monetary Fund warned of an increase in protectionist measures alongside a fall in the rate of world trade growth.
By Gabriel Black, 28 September 2016
A special report in the Economist magazine warns of a return to the type of economic and political conditions that produced the 1917 Russian Revolution.
By Nick Beams, 27 September 2016
The turmoil surrounding Deutsche Bank is only the sharpest expression of a crisis gripping the whole of the European banking system.
By Nick Beams, 22 September 2016
Global stocks rallied as the Organisation for Economic Co-operation and Development revised down its global growth estimate, citing weak trade growth and lower productivity.
By Nick Beams, 20 September 2016
Amid signs of increased volatility, the Bank for International Settlements issued another warning that financial markets rely too much on central banks.
By Nick Beams, 15 September 2016
The ensuing eight years have shown that the financial crisis of 2008 was not a conjunctural downturn but a breakdown in the very foundations of the global capitalist economy.
By Nick Beams, 13 September 2016
There are warnings that the rise in bond prices could turn into a rout with significant losses for investors.
By Nick Beams, 9 September 2016
The European Central Bank has kept its monetary policy on hold but there are growing concerns about what it can do as deflationary pressures continue.
By Nick Beams, 9 September 2016
Questions are sure to asked as to how a bank, supposedly with tight internal controls and reviews, did not know about the creation of two million fake accounts.
By Ben McGrath, 9 September 2016
The company’s financial problems are a further indication of the economic instability facing the world economy.
By Mike Head, 7 September 2016
The corporate discontent with the prime minister’s performance is mounting amid falling business investment and stagnant retail sales.
By Nick Beams, 6 September 2016
At the conclusion of the summit, IMF managing director Christine Lagarde also addressed these issues warning that economic growth had been “too low for too long for too few.”
By Nick Beams, 5 September 2016
It is a sure sign of the deepening malaise of the global capitalist economy, afflicted by lower growth and falling trade, that “overcapacity” in steel was at the very centre of the G20 economic agenda.
By Nick Beams, 2 September 2016
International Monetary Fund managing director Christine Lagarde has said the world economy could suffer from “disappointing growth for a long time to come.”
By V. Gnana and Alex Lantier, 31 August 2016
As France demanded an end to talks on the TTIP trade deal, the EU said it would levy a €13 billion fine on Apple, a move the US Treasury said could damage US-EU ties.
By Nick Beams, 30 August 2016
With the business cycle set to enter a “dangerous” phase, central bankers are concerned that interest rates are already so low they will not be able to counter any economic downturn.
By Niles Niemuth, 27 August 2016
According to an International Labor Organization report, the number of unemployed young people ages 15 to 24 will rise to 71 million this year.
No end to central bank subsidies for financial markets
By Barry Grey, 27 August 2016
Yellen all but acknowledged that low levels of economic growth and extreme financial instability were permanent features of the US and world capitalist economy.
By Nick Beams, 26 August 2016
The central bankers and financial authorities gathered at Jackson Hole have no economic answer to the crisis of the profit system over which they preside.
By Gabriel Black, 25 August 2016
The former vice-president accused the SEC of not prosecuting leading bank officials because of the incestuous relationship between the bank and the ostensible watchdog.
By Nick Beams, 19 August 2016
Underlying the divisions in the Federal Reserve is the lack of any clear understanding of where the US economy is heading.
By John Braddock, 17 August 2016
Led by falling commodity prices and sharp declines in the Pacific’s largest economies, growth across the region will fall sharply in 2016.
By Nick Beams, 16 August 2016
The rise in the markets and the underlying weakening of the real economy are interconnected phenomena as finance seeks to accumulate profits through parasitism.
By Nick Beams, 15 August 2016
The move by the Bank of England to undertake further “quantitative easing” has led to even more speculation in financial markets, as the underlying economy worsens.
By Saman Gunadasa, 13 August 2016
The IMF regards Sri Lanka’s state-owned enterprises as a burden on the economy as well as a potential source of profit for investors.
By Andre Damon, 11 August 2016
Behind the continuing slump in productivity and business investment is an immense growth of financial speculation.
By Evan Winters and Jerry White, 10 August 2016
The USW's calls for tariffs against “foreign steel” and its nationalist agitation against China are aimed at dragooning workers into supporting US imperialism’s preparations for war.
By Nick Beams, 8 August 2016
The decision by the Bank of England to take “exceptional” financial measures reflects the worsening outlook for the global economy.
By Barry Grey, 5 August 2016
The rate cut, together with other measures announced by the bank, will pump 170 billion pounds ($223 billion) into the UK’s financial markets.
By our reporter, 2 August 2016
The continued slump in the real economy is in marked contrast to the ongoing and ultimately unsustainable speculative frenzy on international share markets.
By Tom Eley, 1 August 2016
Second-quarter gross domestic product figures for the US and Europe show a further slowing in economic growth and business investment.
By Terry Cook, 23 July 2016
The job cuts further highlight the impact of falling commodity prices and declining demand in China and throughout Asia.
By Nick Beams, 21 July 2016
The IMF has warned of the possibility of a “severe scenario” for Europe if financial conditions tighten and consumer confidence falls.
By Nick Beams, 15 July 2016
Members of the G20 were responsible for more than 80 percent of protectionist measures in 2015.
By Gabriel Black, 15 July 2016
The House Financial Services Committee report makes clear that the Obama administration’s failure to hold criminally liable a single leading Wall Street figure is the result of a highly conscious and systematic policy.
By Nick Beams, 12 July 2016
With all efforts to return global economic growth to pre-2008 levels having failed, the ruling class’s economic theorists have turned to the promotion of protectionism and nationalism.
By Nick Beams, 8 July 2016
International Monetary Fund head Christine Lagarde warned against the dangers posed by the prospect of a “wave of protectionism.”
By Nick Beams, 7 July 2016
The suspension of cash redemptions by six property investment firms in Britain could set off a crisis extending to the banking system.
By Saman Gunadasa, 6 July 2016
The British vote threatens to exacerbate Sri Lanka’s balance of payments crisis and deepen the widespread discontent over the government’s austerity measures.
By Nick Beams, 4 July 2016
Bank of England Governor Mark Carney has warned of “economic post-traumatic stress” hitting financial markets, businesses and households.
By Nick Beams, 30 June 2016
The Brexit outcome has revealed acute problems in the “quantitative easing” program that the world’s major central banks have used to sustain the global financial system over the past eight years.
By Nick Beams, 28 June 2016
British government leaders have issued statements claiming they have the situation under control, but to no avail as financial markets continue to plummet.
By Andre Damon, 27 June 2016
The ongoing sell-off in global financial markets comes amid a chorus of warnings by international institutions that the world economy faces a deepening crisis.
By Andre Damon, 25 June 2016
The British pound plunged to a 31-year low, European stock markets crashed and US markets erased their gains for the year following the Brexit vote.
By Andre Damon, 22 June 2016
The World Trade Organization warned that protectionist measures by leading economies has hit the highest level on records dating back to 2009.
By Nick Beams, 17 June 2016
Fed chairwoman Janet Yellen’s comments on Wednesday pointed to the emergence of “secular stagnation” in the global economy, a term first developed in the 1930s.
By Nick Beams, 16 June 2016
The Fed decision to keep interest rates on hold is an expression of the fact that what were once considered “normal” operations of the capitalist economy are breaking down.
By Nick Beams, 14 June 2016
The IMF has described rising corporate debt in China as the key “faultline” in its economy, amid concerns it could have major “spillover” effects internationally.
By Nick Beams, 4 June 2016
The global economy is increasingly marked by the return of the types of economic nationalism that had such devastating consequences in the 1930s.
By Nick Beams, 3 June 2016
The decision by the US International Trade Commission to launch an investigation into 40 Chinese steel producers has far-reaching implications.
By Gabriel Black, 31 May 2016
Rent and housing costs in major cities have skyrocketed since the financial crisis, cutting into workers’ living standards and prompting concerns about a global housing bubble.
By Nick Beams, 27 May 2016
The G7 nations are seeking to ramp up military pressure against China, amid a deepening economic slump and divisions within their own ranks.
By Nick Beams, 25 May 2016
The aim of the “structural reforms” demanded by the IMF and the financial elites is the destruction of all the social gains of the European working class won in the past seven decades.
By Nick Beams, 23 May 2016
As with other major economic summits in the recent period, the weekend meeting of the G-7 could reach no agreement on co-ordinated measures to halt the stagnation of the global economy.
By Nick Beams, 18 May 2016
The IMF has reported that one sixth of Chinese business loans are on the books of companies earning less revenue than their interest payments.
By Barry Grey, 17 May 2016
The slump in major chain store sales reflects the impact of a vast reordering of class relations in the US with devastating consequences for the working class.
By Nick Beams, 5 May 2016
Just as the economics of the present period are increasingly resembling the 1930s, so are the politics.
By James Cogan, 4 May 2016
The budget is predicated on cutbacks to working-class living standards in order to finance the ramping up of military spending and corporate tax cuts.
By Barry Grey, 28 April 2016
Apple exemplifies the unprecedented and unsustainable inflation of stock prices since the Wall Street crash of September 2008.
By Nick Beams, 26 April 2016
China’s debt levels have risen rapidly since the onset of the global financial crisis in 2008, with some analysts warning that the country may experience a “Lehman” disaster.
By Nick Beams, 22 April 2016
German criticism of the ECB’s negative interest rate regime is not the result of differences over monetary policy philosophy but is rooted in the political economy of German capitalism.
By Nick Beams, 19 April 2016
The main reason for the failure to agree on an oil production freeze appears to be tensions between Saudi Arabia and Iran, which are on opposites sides in conflicts in the Middle East.
By Patrick Martin, 15 April 2016
A report by Oxfam found that the 50 largest US corporations are evading $111 billion in US taxes per year—enough to wipe out child poverty in America.
By John Braddock, 15 April 2016
Successive Labour and National governments are responsible for New Zealand laws that allow foreign trusts to carry out massive tax avoidance.
By Nick Beams, 14 April 2016
The program of economic nationalism promoted by the steel bosses, political leaders and the trade union bureaucrats leads to depression and ultimately war.