By Nick Beams, 28 June 2018
The move appears to have been motivated to a considerable extent by Wall Street’s reaction to a more hardline proposal that prompted the Dow to fall at one point by 500 points on Monday.
By Nick Beams, 26 June 2018
The Trump administration reportedly plans to invoke powers allowing the president to impose sanctions on the grounds of a “national emergency.”
After tariff measures against China
By Nick Beams, 23 June 2018
Central bankers at a meeting in Sintra, Portugal, voiced their concerns about the developing global trade war.
By Nick Beams, 21 June 2018
China’s “economic aggression” is denounced as threatening the US and the global economy.
By Nick Beams, 20 June 2018
The latest moves by the US administration brought a fall in stock markets amid growing concerns that trade war will have a significant impact on investment and global supply chains.
By Ben McGrath, 16 June 2018
The decision by the Trump Administration to initiate a trade war between the world’s two largest economies will contribute to the already growing tensions and danger of military conflict in the Asia-Pacific region.
By Barry Grey, 13 June 2018
Coming just one day after the termination of net neutrality, the federal court ruling sets the stage for the further consolidation of monopoly control and suppression of oppositional points of view.
By Nick Beams, 4 June 2018
The statement from the G7, agreed to by Canada, the UK, Germany, France, Italy and Japan, pointed to the “negative impact of the unilateral trade actions of the United States.”
By Nick Beams, 2 June 2018
The European Union is pushing ahead with counter-measures against the US. It is expected to announce its final list of products to be targeted later this month.
US imposes steel and aluminium tariffs
By Nick Beams, 1 June 2018
The European Union said it would take immediate steps to retaliate, warning of a 1930s-style depression.
By Patrick Martin, 1 June 2018
The move is the latest step in a systematic campaign to lift even the mild restrictions on bank activities imposed after the 2008 Wall Street crash.
By Marcus Day, 1 June 2018
Fueling outrage is the company’s brazen display of corporate greed, showering investors with hundreds of millions of dollars in dividends and stock buybacks.
By Nick Beams, 31 May 2018
The White House measures are aimed at China’s efforts to develop high-tech industries.
By Nick Beams, 28 May 2018
Moves are underway in the US Congress, supported by leading Republicans and Democrats, to extend bans on Chinese telecos regarded as a threat to “national security.”
By Nick Beams, 25 May 2018
The investigation was directly linked to statements about economic preparations for war.
By Isaac Finn, 25 May 2018
The iconic company announced that profits had experienced a massive 53 percent increase to $142 million in the first three months of this year, with sales exceeding $1 billion.
By Nick Beams, 24 May 2018
The delay in imposing tariffs on China has been condemned by both sides of the US Congress as giving in to Beijing.
As US banks report record profits
By Barry Grey, 23 May 2018
As the tenth anniversary of the September 2008 Wall Street crash approaches, the token restrictions on the banks that were passed during the Obama administration are being dismantled.
By Nick Beams, 21 May 2018
The vagueness of the final, brief communiqué, left the way open for both sides to offer their own interpretations on what had been agreed.
By Nick Beams, 17 May 2018
A letter signed by 32 Democrats stated that “America’s national security must not be signed away as bargaining chip in trade negotiations.”
By Nancy Hanover, 15 May 2018
The meager pay raises and funding increases in West Virginia, Oklahoma and Arizona, hailed as “victories” by the unions and their supporters, will be funded through new attacks on workers.
On eve of teachers’ protests in North Carolina and South Carolina
By Niles Niemuth, 14 May 2018
The 500 largest corporations in the US will funnel more money into the pockets of wealthy investors than they will allocate for capital expenditures and research and development.
By Helen Hayes, 9 May 2018
The federal courts and the state government are relinquishing direct control over city operations, entrusting further budget cuts and austerity measures to the administration of Democratic Mayor Mike Duggan.
Part of Trump tax bill bonanza for the wealthy
By Patrick Martin, 3 May 2018
The iPhone and laptop maker is monetizing the Trump tax cut as a gigantic windfall for its executives and owners.
By Nick Beams, 3 May 2018
The conflict is over more than the trade deficit numbers, with the overriding concern of the US being China’s moves to develop its high-tech capacities.
By Gabriel Black, 2 May 2018
The companies have presented the merger as a critical geopolitical move in the fight against China’s development of 5G.
By Nick Beams, 2 May 2018
The European Commission said there was no basis for tariffs on “national security” grounds and it would not negotiate under threat.
By Nick Beams, 26 April 2018
Trump said there was a “very good chance of making a deal,” but if not, the US would impose “very substantial tariffs” on Chinese imports.
By Trévon Austin, 25 April 2018
A rise in working-class militancy would send the inflated share values into a precipitous decline.
By Nick Beams, 23 April 2018
Adopting the tone of an overlord, US Treasury Secretary Steven Mnuchin demanded that the IMF back Washington in its drive against what it claims are “unfair global trade practices.”
By Nick Beams, 21 April 2018
Under a 1977 law, president Trump could declare a national emergency in response to an “unusual and extraordinary threat” which would allow him to block transactions and even to seize assets.
By Nick Beams, 19 April 2018
The IMF chief economist said it seemed “paradoxical” that major economies were “flirting with trade war” at a time of economic expansion.
No money for teacher pay or textbooks, but…
By Barry Grey, 18 April 2018
A series of reports released over the past week reveal that corporate America and the financial oligarchy are wallowing in record levels of wealth.
By Nick Beams, 14 April 2018
The apparent turnaround is motivated by two immediate considerations: the need to be seen as taking action to alleviate pressure on US farmers threatened by the China tariffs, and the search for international allies against China.
By Nick Beams, 13 April 2018
IMF chief Christine Lagarde said that as a result of easy financial conditions, global debt—public and private—has reached an all-time high of $164 trillion.
By Eric London, 10 April 2018
The report found that if inequality grows at its present rate, the world’s billionaires will eventually “own 100 percent of the world’s wealth.”
By Barry Grey, 7 April 2018
JPMorgan CEO Jamie Dimon warned of rising wages and raised the possibility of a sharp rise in interest rates to put a brake on economic growth and drive up unemployment.
By Nick Beams, 6 April 2018
The White House said the new directive was in response to the Chinese decision to impose tariffs on $50 billion worth of American exports.
By Nick Beams, 3 April 2018
The Chinese moves appear to have had an impact on Wall Street, where the Dow was down by more than 450 points at end of yesterday.
By Nick Beams, 29 March 2018
The volatility reflects the speculative character of the share market’s rise and the fears that a global trade war could puncture this bubble.
By Nick Beams, 23 March 2018
The Trump administration has drawn up a list of more than 1,000 products, and proposed investment bans, targeting 10 key Chinese industries.
By Anthony Bertolt, 19 March 2018
The retail chain is in the process of shutting down its global operations, with the jobs of some 31,000 workers in the US alone set to be eliminated.
By Tom Hall, 16 March 2018
The Democrats' support for the bill demonstrates that they are a party of the American financial aristocracy.
By Nick Beams, 15 March 2018
Trump’s intervention demonstrates that “America First” nationalism and “national security” invocations are coming to dominate his administration’s economic decisions.
By Nick Beams, 10 March 2018
The European Union is “counting” on being exempted from the Trump tariff measures but may get short shrift.
By Mike Head, 10 March 2018
The government argued that retaining steel production in Australia was vital for its $200 billion military spending program.
By Nick Beams, 9 March 2018
Trump’s tariff announcement expresses the turn by the United States to the types of protectionist measures that characterised the 1930s Great Depression.
By Niles Niemuth, 7 March 2018
Among those reportedly opposed to Trump’s trade war policy are Treasury Secretary Steven Mnuchin, Secretary of State Rex Tillerson and retired Gen. James Mattis, the secretary of defense.
By Roger Jordan, 7 March 2018
Signaling the Canadian ruling elite’s readiness to support Washington in a trade war against China and other rivals, Ottawa is pleading for an exemption from Trump’s tariffs.
By Gabriel Black, 6 March 2018
Catalyst Capital predicts that 2018 will be the biggest stock buyback year on record, with corporations spending $1.2 trillion to push up their share values.
By Nick Beams, 2 March 2018
In imposing a global tariff hike, rather than selective measures, Trump took the toughest option presented to him by Commerce Secretary Wilbur Ross.
By Nick Beams, 1 March 2018
One of the key aspects of Fed chief Powell’s question-time comments was his views on the “continuing strength in the labour market.”
By Nick Beams, 24 February 2018
Two major initiatives by the Trump administration over the past month have ratcheted up global tensions, bringing the threat of retaliatory actions from the European Union and China.
By Nick Beams, 19 February 2018
“If we ever have a conflict, we don’t want to be buying steel [from] a country we are fighting,” Trump declared, referring particularly to China.
By Rafael Azul, 19 February 2018
Oblivious to the humanitarian crisis, participants discussed how to profit from the hurricane destruction and protect their speculative assets from US taxes.
By Christopher Davion, 13 February 2018
The announcement of the plan to close two plants in northeastern Wisconsin is part of an international restructuring which involves laying off as many as 5,500.
By Andre Damon, 12 February 2018
The Times has made little effort to hide the fact that its record-breaking profits have been driven in large measure by state censorship and media scandalmongering.
By Eric London, 10 February 2018
The Democratic Party provided the necessary votes to allocate $1.4 trillion for the military.
By Nick Beams, 10 February 2018
The business channel CNBC calculated that the Dow gyrated a total of 22,000 points up and down during the week.
By Tom Hall, 10 February 2018
The move by the credit ratings agency reflects fears that Ford’s “Fitness Redesign” initiative could meet with uncontrollable opposition from autoworkers.
By Nick Beams, 9 February 2018
A major feature of the turmoil has been the speed of events, with stock prices plunging and oscillating dramatically.
By Josh Varlin, 8 February 2018
The bipartisan budget plan demonstrates that both big business parties agree on military escalation and further attacks on immigrants' rights.
By Nick Beams, 6 February 2018
One of the most significant features of yesterday’s decline was its speed with the Dow plunging 900 points in just 11 minutes in an avalanche of selling.
By Barry Grey, 3 February 2018
The increasing market volatility takes place amidst signs of mounting working class resistance.
By Nick Beams, 2 February 2018
The major concern in financial markets is that a rise in bond yields could see an end to the rise in stock prices and even set off a major downturn.
By Barry Grey, 31 January 2018
The initiative heralds a further monopolization of health care by a handful of billionaire-run corporations and a further subordination of social needs to Wall Street.
By Nick Beams, 31 January 2018
Remarks by US Treasury Secretary Steven Mnuchin on the advantages of a lower dollar brought a sharp response from European Central Bank President Mario Draghi.
By Katy Kinner, 25 January 2018
Fink, whose firm manages $6 trillion in investments, has penned a worried and hypocritical letter to the world’s CEOs urging them to exercise a “positive influence on society.”
By E.P. Milligan, 22 January 2018
The latest bill represents yet another brazen attempt to cut regulations set in place in the wake of the now decade-old financial meltdown.
By Patrick Martin, 19 January 2018
There appears to be little prospect of the Senate approving the House bill, which has no provisions dealing with the fate of young immigrants who are losing protection from deportation.
By Barry Grey, 18 January 2018
The latest version of the bipartisan plan proposes even more billions to militarize the US-Mexico border, including funds earmarked for Trump’s border wall with Mexico.
By Patrick Martin, 16 January 2018
Only four days remain before congressional authorization to fund the government expires, threatening a partial shutdown of government agencies and a halt to federal paychecks.
By Nick Beams, 16 January 2018
A series of “anti-dumping” measures initiated by the United States could set in motion retaliatory action and lead to widening trade conflicts.
By Trévon Austin, 13 January 2018
The closures and mass layoffs expose the media hype surrounding Walmart’s announced raising of wages.
By Nick Beams, 13 January 2018
While the bond market has calmed since Wednesday’s sell-off, reports in the financial press indicate considerable nervousness over what the dip could signify.
By Trévon Austin, 6 January 2018
The modest improvement in the unemployment rate and number of jobs added over the last year are not reflective of the real situation confronting millions of workers.
By George Gallanis, 6 January 2018
Decades of deindustrialization have created unprecedented levels of social inequality, poverty and unemployment, which corporations like Foxconn can exploit.
By Barry Grey, 28 December 2017
It is impossible to seriously address a single major social issue without breaking the political and economic stranglehold of the financial oligarchy over society.
By Nick Beams, 23 December 2017
In seeking to grasp the significance of the present frenzy, it is worth recalling the analysis made by Marx of previous financial bubbles, in particular those associated with the expansion of the credit system, which began in the mid-nineteenth century.
Over token Democratic opposition
By Barry Grey, 21 December 2017
The Democrats support tax cuts for corporations and did nothing to seriously oppose this naked piece of class legislation.
By Nick Beams, 21 December 2017
The appetites of financial speculators continue to be whetted by reports of huge gains made by hedge funds that specialise in bitcoin and other cryptocurrencies.
By Gabriel Black, 20 December 2017
The merger is expected to lead to as many as 10,000 layoffs.
By Nick Beams, 14 December 2017
While she dismissed the impact of bitcoin on the financial system, Yellen was reminded by one questioner that her predecessor, Ben Bernanke, had said in 2007 that the sub-prime bubble would have no broader effects.
By Nick Beams, 13 December 2017
The rise and rise of the cryptocurrency Bitcoin is the most egregious expression of the rampant speculation that has come to dominate the global economy.
By Jerry White, 11 December 2017
The jobs report provides further evidence that the much vaunted economic “recovery” in the US has overwhelmingly benefited Wall Street at the expense of the working class.
By Barry Grey, 1 December 2017
A measure that will further restructure American society to benefit the ruling oligarchy at the expense of the mass of the population is being rushed through Congress without so much as a public hearing.
Amid mounting fears of financial turmoil
Departing Fed chairwoman seeks to reassure markets while warning of debt crisis and social inequality
By Nick Beams, 30 November 2017
Amid surging stock markets and warnings of a new financial bubble, outgoing Federal Reserve Chairwoman Janet Yellen made her final appearance before Congress.
By Barry Grey, 29 November 2017
Congress, backed by the Trump White House, is hurtling toward the implementation of the most brazen and far-reaching corporate raid on the federal Treasury in US history.
By Andre Damon, 29 November 2017
The explosive rise in the price of bitcoin, the first “cryptocurrency,” has eclipsed the run-up of any comparable asset in modern history.
By Genevieve Leigh, 28 November 2017
As the Trump administration strips media regulation and antitrust laws, media conglomerates are planning even further consolidation.
By Patrick Martin, 28 November 2017
The conflict between Trump and the Democrats over control of the Consumer Financial Protection Board is being conducted with utter cynicism on both sides.
By Patrick Martin, 27 November 2017
A meeting of leading Republicans and Democrats Tuesday begins the last-minute deals to provide $1.5 trillion for the wealthy at the expense of working people.
By Gabriel Black, 27 November 2017
The deal would result in the largest vertically integrated content and distribution company in the world.
By Eric London, 27 November 2017
The wealth of Amazon CEO Jeff Bezos, together with the trillions of dollars hoarded by his fellow billionaires, could be used to wipe out poverty, disease, and social misery.
By Patrick Martin, 20 November 2017
The tax bill passed by the House of Representatives Thursday targets college and graduate students for savage economic attack to fund a bonanza for the super-rich.
By Andre Damon, 18 November 2017
The tax bill passed by the US House of Representatives Thursday marks a new milestone in the transformation of the United States into an oligarchy.
By Barry Grey, 16 November 2017
The attack on access to health care for ordinary Americans is an example of the tax scheme’s fleecing of working people to pay for the tax windfall for the rich.
By Nick Beams, 3 November 2017
Wall Street welcomed the selection of Powell, who will be the richest man to occupy the post.
By Shannon Jones, 31 October 2017
Ford, Fiat Chrysler and General Motors all posted higher-than-expected earnings in the third quarter, boosted by savage cost-cutting facilitated by the collaboration of the unions.
By Patrick Martin, 26 October 2017
The measure will benefit companies like Wells Fargo and Equifax, as well as banks and credit card companies more generally.