By Nick Beams, 12 May 2017
Apple’s market valuation and cash holdings illustrate a major shift in the mode of profit accumulation and how share values increasingly result from financial manipulation.
By Nick Beams, 5 May 2017
There is conjecture about what Apple intends to do with its cash pile, but one thing is certain: it will be used for forms of speculation and financial manipulation.
May Day 2017
By Nick Beams, 2 May 2017
The historic crisis of the global capitalist system is now producing the very conditions that led to the economic conflicts of the 1930s and the eruption of war in 1939.
By Nick Beams, 28 April 2017
The Trump administration has signalled that it will take an aggressive economic nationalist stance in negotiations on NAFTA after making moves to withdraw altogether.
By Gustav Kemper, 25 April 2017
Since the beginning of 2017, the two rail companies have been engaged in secret merger negotiations behind the backs of their employees.
By Nick Beams, 24 April 2017
Pledges to “resist protectionism,” long included in statements issued by the world’s major global economic institutions, are now regarded as too controversial.
By Nick Beams, 22 April 2017
The stock market has lifted but consumer spending is falling and industrial production is flat.
By Nick Beams, 20 April 2017
The IMF reports make clear that none of the underlying problems that have beset the world economy since the eruption of the global financial crisis in 2008 has been resolved.
By Nick Beams, 18 April 2017
While forecasting a “cyclical recovery”, IMF managing director, Christine Lagarde has said a “sword of protectionism” hangs over the world economy.
By Nick Beams, 15 April 2017
There is no meaningful distinction between industrial and finance capital because, in the end, all capital is finance capital, an important study has found.
By Jean Shaoul, 13 April 2017
The Libor scandal revealed not only the criminality of the global financial system centred in London, but the massive web of corruption and complicity involving governments and financial regulators the world over.
By Nick Beams, 12 April 2017
The IMF analysis of labour’s share of income is consistent with the essential logic of capital as revealed by Marx.
By Nick Beams, 11 April 2017
Trump officials struck a conciliatory tone following discussions on trade with Chinese president Xi Jinping, but Commerce Secretary Wilbur Ross said he expected “tangible results.”
By Nick Beams, 1 April 2017
US President Donald Trump signed two protectionist executive orders Friday, signalling a return to the kind of measures that proved so disastrous in the 1930s.
By Nick Beams, 30 March 2017
Two major international economic organisations, the IMF and the OECD, have voiced concerns about the impact of the US protectionist trade agenda on the stability of the world economy.
By Nick Beams, 24 March 2017
The post-World War II economic and trading order, constructed in the main by the US, was the product of a push to prevent the kind of protectionist and trade war measures that led to the Second World War.
By Barry Grey, 23 March 2017
Whatever the short-term trend on the financial markets, Tuesday’s downturn reflected the underlying unsustainability of the massively inflated stock valuations.
By Nick Beams, 20 March 2017
While attempts were made by G20 finance ministers to downplay the significance of the breach with the US, the decision to drop resistance to protectionism is a significant step towards a global trade war.
By James Cogan, 18 March 2017
Despite concerns expressed about protectionism, the most obvious feature of the Chile summit was the manner in which various states pursued their own national trade agendas.
By Nick Beams, 10 March 2017
The ECB retained its negative base interest rate, placing it on a divergent path from the US Federal Reserve.
By Nick Beams, 7 March 2017
The Trump administration has issued a document making clear that it is taking aim at the World Trade Organisation and agreements that have governed international trade in the post-World War II period.
By Nick Beams, 6 March 2017
The Chinese government has cut its target in an attempt to address growing problems in the country’s financial system.
By Nick Beams, 3 March 2017
The massive rise in Snap Inc. stock took place amidst a surge in US markets, which has seen $3 trillion added to share values since the election of Trump.
By Nick Beams, 28 February 2017
The objective logic of Trump’s agenda of economic war, based on “America First” leads inexorably to military conflict.
By Nick Beams, 23 February 2017
A World Bank report found that growing political uncertainty was a significant factor in the further decline in world trade growth in 2016.
By Saman Gunadasa, 22 February 2017
The country has been severely hit by the continuing global downturn and a prolonged drought that has destroyed key crops and driven up the prices of staple foods.
By Nick Beams, 21 February 2017
Speaking on behalf of European capital, the London-based Financial Times has described the trade policies of the Trump administration as a “clear and present danger” to the global trading and monetary system.
By Mike Head, 23 January 2017
Ending the Trans-Pacific Partnership is not a retreat into US isolationism but a ramping up of the offensive, commenced under Obama, to reassert American hegemony in Asia.
By Nick Beams, 21 January 2017
The atmosphere at the World Economic Forum was a mixture of bewilderment over the disintegration of the present global order, coupled with fears as to where it might be leading.
By Kranti Kumara, 18 January 2017
Demonitisation has forced farmers to sell to wholesalers at fire-sale prices, depressed consumer demand, and led cash-short employers to lay off workers en masse.
Oxfam issues report on eve of Davos conference
By Nick Beams, 17 January 2017
The report, released as the world’s billionaires converge on Davos, Switzerland, reveals that global inequality is even more pronounced than previously recognized.
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.