Economics

15.11.2012

Glenn Greenwald: Starting with Fiscal Cliff, Obama’s 2nd Term Rests on Organizing, Not Cheerleading

Glenn Greenwald: Starting with Fiscal Cliff, Obama’s 2nd Term Rests on Organizing, Not Cheerleading

President Obama will open deficit reduction talks on Friday with a call for a $1.6 trillion tax hike on corporations and the wealthiest Americans over the next 10 years. Obama and House Speaker John Boehner are sitting down to avert the so-called “fiscal cliff” of expiring tax cuts and automatic… »

11.11.2012

Creditors’ Stalemate Brings Greece to Knife Edge

Creditors’ Stalemate Brings Greece to Knife Edge

By Apostolis Fotiadis Ignoring the thousands of protestors gathered outside the Greek parliament on Wednesday, the government voted in public spending cuts amounting to 17 billion dollars in an economy already on its knees from a lacerated budget. The government was promised 40 billion dollars… »

10.11.2012

China Expected to Replace U.S. as World’s Largest Economy by 2016

The balance of economic power is expected to shift dramatically over the next half century, with fast-growing emerging-market economies accounting for an ever-increasing share of global output, according to a new OECD report. [/media-credit] Source: OECD calculationsDivergent long-term growth patterns lead to radical shifts in the relative… »

08.11.2012

Kenya – No Trees in The Forest

Kenya – No Trees in The Forest

A landmark study of Kenya’s high-elevation forests shows that the economic cost of deforestation in the East African country exceeds national gains from forestry and logging by more than four-to-one, the United Nations Environment Programme (UNEP) reported. “Deforestation deprived Kenya’s economy of 5.8 billion shillings ($68 million) in 2010… »

03.11.2012

Imagine a Hedge Fund Manager as U.S. President

Imagine a Hedge Fund Manager as U.S. President

In the late summer of 1998, in the wake of the Asian financial crisis, a group of German and French professors of economics organised at the University of Bremen in Germany a seminar to discuss ways to re-regulate the international financial markets. The theme could not have been timelier: The… »

02.11.2012

Without Power and Aid, Low-Income Residents of NYC’s Lower East Side Struggle in Storm’s Aftermath

Without Power and Aid, Low-Income Residents of NYC’s Lower East Side Struggle in Storm’s Aftermath

We speak with residents of the low-income and largely minority community of Manhattan’s Lower East Side who live in the shadow of a Consolidated Edison substation that flooded during Superstorm Sandy and has left thousands in the dark. With no sign of help from the city or the Federal Emergency… »

30.10.2012

The London New Putney Debates launch a new stage in the Occupy process

The London New Putney Debates launch a new stage in the Occupy process

With presentations about the most pressing problems in the areas of Economy and (lack of) Real Democracy the New Putney Debates pick up the thread of revolutionary thinking that commenced in 1647, 365 years ago. The two weeks of sessions will culminate in a new “Agreement of the People”… »

29.10.2012

Unoccupy Wal-Mart says Occupy Tampa

Unoccupy Wal-Mart says Occupy Tampa

At Wednesdays’ General Assembly members of Occupy Tampa, concerned citizens and Local Wal-Mart Associates met with Representatives from OUR Wal-Mart. We heard heartbreaking stories of people from all across the nation and even the world about the daily struggles that workers face under the ever tightening squeeze of Wal-Mart’s labor… »

28.10.2012

US Vultures flying over Argentinean naval ship stranded at Ghanaian port

US Vultures flying over Argentinean naval ship stranded at Ghanaian port

The sailing Frigate Libertad is being held at a Ghanaian port by a US-based investment (vulture) fund in dispute over Argentinean debts. The Ghanaian high court has ruled on the case to determine whether the Libertad is allowed to sail on, that Argentina had waived sovereign immunity when it contracted… »

25.10.2012

Iceland’s Rock Bottom Approach to Debt Crisis: Let the Banks Fail

Iceland’s Rock Bottom Approach to Debt Crisis: Let the Banks Fail

Let the banks fail 2008 was a year of financial disaster and near government collapse. The crisis has been deemed by economists as the worst financial crisis since the Great Depression of 1930s. But in the worldwide turmoil, the country that got hit the hardest is undoubtably Iceland. With… »

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