By Barry Grey, 27 August 2015
The US central bank is prepared to provide whatever public funds are needed to shield the financial elite from the consequences of a new eruption of the capitalist crisis.
By Andre Damon, 26 August 2015
As an early rally in US markets “turned to dust” Tuesday, there were calls for a new round of Fed money-printing to once again rescue the financial elite.
By James Cogan, 26 August 2015
Underlying the declarations of “urgency” is the rapid deterioration of Australia’s economic position.
By Barry Grey, 25 August 2015
Within four minutes of the trading start, the Dow had sunk by 1,089 points, or 6.6 percent, the biggest single-day point drop in US history.
By Andre Damon, 24 August 2015
The global stock market selloff reflects the inability of governments and central banks to address the fundamental contradictions of the capitalist system that led to the Wall Street crash of 2008–2009.
By Barry Grey, 22 August 2015
The meltdown on equity markets is being driven by signs that the world economy is sliding into a new recession or outright depression.
By Andre Damon, 21 August 2015
US stocks fell by the largest amount since February 2014, as fears of a world economic slowdown mixed with concerns over global exchange rate instability and geopolitical conflict.
By Barry Grey, 19 August 2015
Seven years after the Wall Street crash, fears are growing within ruling circles internationally that the world capitalist economy is descending into depression.
By Barry Grey, 18 August 2015
The Japanese report followed a wave of negative data pointing to sharply slower growth in China and last week’s surprise devaluation of the renminbi.
By Andre Damon, 15 August 2015
Under conditions of slowing economic growth and record amounts of cash on corporate balance sheets, mergers and acquisitions are being used to intensify the assault on the working class.
By Nick Beams, 13 August 2015
The efforts to limit the fallout from the decision by China to devalue its currency could be undermined by recessionary trends in the global economy.
By Roger Jordan, 13 August 2015
Canada’s government and business elite are livid over a US-Japanese deal that would undermine its privileged access to the US auto market.
By Nick Beams, 12 August 2015
Stock markets and commodity prices fell sharply in the wake of the decision to devalue the yuan, reflecting concerns about the perilous state of the Chinese and world economy.
By Andre Damon, 5 August 2015
The filing signals a new assault on jobs in the already devastated US coal industry.
By Nick Beams, 4 August 2015
The latest US economic data show a contraction in investment amid the lowest wage increases in more than 30 years.
By Mike Head, 3 August 2015
The latest failure of Trans-Pacific Partnership negotiations is a debacle for the US drive to counter China.
By Oscar Grenfell, 3 August 2015
The Obama administration’s ongoing push for the Trans-Pacific Partnership (TPP)—a trade bloc of 12 countries—seeks to enshrine US economic dominance over the Asia-Pacific in binding agreements.
By John Roberts, 29 July 2015
International finance capital and local business interests have stepped up their demands for a new Indonesian cabinet.
By Andre Damon, 28 July 2015
Chinese financial authorities announced a new round of share purchases in the latest attempt to prop up the country’s plunging stock market.
By Nick Beams, 27 July 2015
Anglo American’s decision to cut one-third of its workforce is symptomatic of the job destruction ripping through the global mining industry as commodity prices plunge.
By Nick Beams, 23 July 2015
The fall in commodity prices is having a major impact on emerging markets, as well as raw-material exporting countries, in particular Australia and Canada.
By Cesar Uco, 23 July 2015
The latest figures confirm the fact that the so-called emerging markets are unable to offset the drop in production and consumption in the US and the EU.
By Barry Grey, 21 July 2015
The explosion of asset values and wealth accumulation at the very top of the economic ladder has occurred alongside an intractable and continuing slump in the real economy.
By Nick Beams, 20 July 2015
The massive bank intervention was one of a series of measures initiated by the government and financial authorities to halt the plunge in share values.
By Trent Novak, 15 July 2015
One in four young people in Greece and Spain is “neither employed nor in education or training.”
By Andre Damon, 11 July 2015
The much-vaunted rise of the “global middle class” is “more promise than reality,” according to a report published this week by the Pew Research Center.
By Andre Damon, 10 July 2015
Nearly eight years since the first signs the global financial crisis, the world economy is mired in slump and faces another financial collapse.
By Nick Beams, 9 July 2015
Every day for the past week, the Chinese government and financial regulators have announced new measures to try to halt the slide, but none has succeeded.
By Barry Grey, 9 July 2015
The shutdown was by far the longest ever trading halt attributed to computer problems.
By Nick Beams, 8 July 2015
The Chinese regime sought to create a social base of support in better-off sections of the middle class, which are now being hammered by the stock market plunge.
By Nick Beams, 7 July 2015
The Chinese government has thrown the “kitchen sink” at the falling share market but to no avail.
By Nick Beams, 6 July 2015
The Chinese central bank’s commitment to provide funds to financial markets indicates growing concern in government circles over the depth of the stock market fall.
By Andre Damon, 4 July 2015
The vast sums of money pocketed by bank executives are bound up with activities that range from borderline legal to flagrantly illegal.
By Nick Beams, 3 July 2015
The World Bank has again described the Chinese financial system as unbalanced and potentially unstable.
By Nick Beams, 1 July 2015
The annual report of the Bank for International Settlements has criticised the reliance by central banks on monetary policy, calling instead for “structural reforms.”
As global markets plummet
By Alex Lantier, 30 June 2015
Retirees were unable to obtain their pension benefits as a weeklong bank holiday began amid warnings of fuel and medicine shortages.
By Nick Beams, 30 June 2015
Billions of euros have been taken out of Greece by wealthy individuals and corporations in order to make a financial killing if the country goes back to the drachma.
By Nick Beams, 29 June 2015
The People’s Bank of China is increasingly responding to events rather than following a pre-determined strategy.
By Nick Beams, 29 June 2015
Financial parasitism is leading to the destruction of the productive forces upon which the livelihoods of the world working class depend.
By Nick Beams, 26 June 2015
Major life insurance companies in Europe may be threatened with insolvency as a result of problems caused by the global low-interest rate regime.
By Gabriel Black, 20 June 2015
US layoffs were up 13 percent in the first five months of 2015 compared to the prior year.
By Nick Beams, 17 June 2015
There are fears that a rise in US interest rates will have major global repercussions, especially through the flight of capital from emerging markets.
By Oliver Campbell, 12 June 2015
Even as the manufacturing industry continues to stagnate, speculation in shares is soaring.
By Nick Beams, 11 June 2015
The bank has cut its forecast for global growth from its prediction six months ago.
By Nick Beams, 11 June 2015
The invocation by Japanese central banker Haruhiko Kuroda of “Peter Pan” economics is a graphic expression of the bewilderment of those supposedly in control of the world economy.
By Patrick Martin, 10 June 2015
At a press conference to close the G7 summit, the US president said that all the major powers were “prepared to do more” in the war against Islamic fundamentalists.
By Nick Beams, 5 June 2015
The downgrade follows what the OECD called the worst quarter for global economic growth since the 2008 financial crash.
By Nick Beams, 3 June 2015
German chancellor Angela Merkel convened a meeting in Berlin late Monday that laid out the demands of Greece’s creditors.
By Andre Damon, 2 June 2015
Seven years after the 2008 financial crisis, the world economy has become the object of unremitting plunder by the global financial aristocracy.
By Roger Jordan, 2 June 2015
Canada’s economic output fell 0.6 percent in the first quarter of 2015—its largest contraction since the height of the 2008-09 global financial meltdown.
By Andre Damon, 30 May 2015
The ongoing slump in the US economy comes amid a roaring stock market, combined with record share buybacks, mergers and acquisitions, and surging CEO pay.
By Nick Beams, 25 May 2015
The rise in stock markets expresses not the health, but rather the deepening sickness, of the global economic order.
By Gabriel Black, 23 May 2015
The growth of inequality has been accompanied by the expansion of part-time and contingent labor, particularly for younger workers.
By Andre Damon and Barry Grey, 21 May 2015
Wednesday’s announcement was further confirmation that the US and international financial aristocracy is above the law.
By Andre Damon, 20 May 2015
Jobs created in the aftermath of the 2008 crisis have been disproportionately contingent and part-time, according to a new report published by the International Labor Organization.
By Nick Beams, 20 May 2015
The accelerated ECB purchase of sovereign debt is another indication of increasing nervousness in global financial markets.
By Andre Damon, 15 May 2015
The effect of guilty pleas for crimes involving massive manipulation of financial markets will be essentially zero, beyond the immediate costs the fines levied on the institutions.
By K. Ratnayake, 14 May 2015
Kumaratunga blamed the crisis on the previous Rajapakse government’s “lack of transparency.”
By Nick Beams, 13 May 2015
The latest rate cut has raised concerns that China’s financial authorities are “behind the curve” of the country’s economic slowdown.
By Nick Beams, 8 May 2015
In the last two weeks an estimated $2 trillion has been wiped off share and bond markets.
By Nick Beams, 6 May 2015
The Reserve Bank of Australia has been caught in the financial vortex created by global interest rate cuts and a developing currency war.
By Andre Damon, 30 April 2015
Business investment collapsed in the first quarter, even as US companies sat atop a record $1.4 trillion cash hoard.
By Gustav Kemper and Peter Schwarz, 30 April 2015
Deutsche Bank is now concentrating on international speculation and substantially downsizing its business with smaller customers.
By Patrick Martin, 23 April 2015
The Trans-Pacific Partnership is aimed at reinforcing US dominance in the Asia-Pacific region against the rising economic, political and military power of China.
By Nick Beams, 21 April 2015
While not on the official agenda, there was a palpable sense that the key institutions of the post-war economic order are starting to crumble.
By Terry Cook, 21 April 2015
Caterpillar will retrench almost its entire workforce in Burnie and relocate production to Thailand over the next 12 months.
By Nick Beams and Barry Grey, 18 April 2015
Official reports prepared by the International Monetary Fund show that the global economy is not on the cusp of a recovery, but moving deeper into crisis.
By Niles Williamson, 18 April 2015
The world’s largest oilfield service company, Schlumberger, announced this week that as a result of declining oil production it will cut 11,000 jobs worldwide, bringing the firm’s total layoffs so far this year to 20,000.
By Andre Damon, 18 April 2015
Bernanke’s new job constitutes little more than a kickback for services rendered to Wall Street.
By Nick Beams, 16 April 2015
The decline in Chinese growth to the lowest point since the global financial crisis is having significant international consequences.
By Barry Grey, 11 April 2015
The IMF’s analysis amounts to a tacit acknowledgement that the crisis is of historical dimensions and the underlying problems in the global capitalist system have not been resolved.
By Mike Head, 8 April 2015
Yesterday’s Reserve Bank decision to leave record low interest rates on hold highlights the precarious state of Australian capitalism.
By Nick Beams, 1 April 2015
The decision by some 40 countries to sign up for the China-backed Asia Infrastructure Investment Bank is a critical marker in the economic decline of American imperialism.
By Andre Damon, 28 March 2015
US steel companies announced thousands of layoffs this week.
By Nick Beams, 25 March 2015
There are an increasing number of warnings that financial markets could be headed for a “liquidity crunch” if major players head for the exits at the same time.
By Saman Gunadasa, 20 March 2015
The IMF’s blunt message to Sri Lanka is for new social attacks on the working class and poor.
By Nick Beams, 19 March 2015
The British decision to join the Asian Infrastructure Investment Bank has opened the way for other European powers to sign up, despite intense opposition from the US.
By Barry Grey, 19 March 2015
Any tightening of the central bank cash spigot threatens to bring the bull market, and the windfalls it provides the rich and the super-rich, crashing down.
By Alex Lantier, 14 March 2015
Finance capital is launching new projects because it assumes the Egyptian military dictatorship’s bloody repression will guarantee low wages and high profits.
By Nick Beams, 12 March 2015
The commencement of the European Central Bank’s bond-buying program is already sending shock waves through global financial markets.
By Nick Beams, 6 March 2015
In opening the National People’s Congress yesterday, Chinese Premier Li Keqiang warned that “the downward pressure on China’s economy is intensifying.”
By Joseph Kishore, 4 March 2015
The inexorable rise in the wealth of the ultra-rich, amidst economic stagnation, is an expression of the parasitic character of world capitalism.
By Nick Beams, 27 February 2015
The emergence of negative bond yields signifies that the international bond market is being transformed into a gigantic Ponzi scheme.
By Nick Beams, 18 February 2015
Profits are increasingly being accumulated not through investment and increased production, but by various forms of speculation.
By Oliver Campbell, 17 February 2015
Inflation in China has fallen to its lowest level in five years as the economic slowdown continues.
By Nick Beams, 16 February 2015
Financial Times columnist advises Syriza-led government to stand firm in “high noon” showdown with euro zone finance ministers.
By Andre Damon, 11 February 2015
The British, American and other governments buried evidence that Europe’s largest bank was running a massive tax fraud service.
By Gabriel Black, 2 February 2015
While the United States has been slowly adding jobs, many of these jobs are in low-wage sectors or industries that are moving in that direction.
By Nick Beams, 30 January 2015
The potential consequences of falling consumer prices and money flooding into bond markets threaten to outweigh even those of the 2008 financial crisis.
By Gabriel Black, 26 January 2015
Several major oil service companies announced that they would cut significant sections of their workforce, leading to tens of thousands of new layoffs.
By Nick Beams, 23 January 2015
The measure will have little or no impact on the real economy. Rather, it is aimed at making available further supplies of ultra-cheap cash for financial speculation.
By Andre Damon, 21 January 2015
A group of people who can fit into a double-decker bus control more wealth than 3.5 billion people, equivalent to the combined populations of China, India, the United States and the European Union.
By Will Morrow, 21 January 2015
China’s economy is racked by mounting debt and productive overcapacity, resulting from the stimulus measures adopted by the Chinese regime since the 2008 crash.
By Nick Beams, 21 January 2015
The International Monetary Fund has downgraded its forecast for global economic growth in 2015, slicing 0.3 percentage points off its estimate last October.
By Don Knowland, 20 January 2015
Amidst falling oil prices, attempts by Pemex to cut production costs while courting foreign energy investors will fall most heavily on workers.
By Roger Jordan, 17 January 2015
The drop in world oil prices has roiled the Canadian economy, which is heavily reliant on energy export-earnings and the Alberta tar sands.
By Nick Beams, 16 January 2015
The decision by Swiss authorities to end the franc’s fixed relationship to the euro has led to one of the most rapid currency appreciations in history.
By Nick Beams, 15 January 2015
The latest World Bank report offers no prospect for a recovery in the world economy and points to significant risks.
By Julie Hyland, 15 January 2015
The objective of the new Transatlantic Trade and Investment Partnership is to consolidate an economic empire to dictate terms to those outside.
By Nick Beams, 14 January 2015
Oil prices on Tuesday sank further toward their levels of 2009, while bond yields hit zero in Japan.