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.
By Nick Beams, 10 January 2015
The announcement that Europe has gone into deflation underscores the deepening breakdown of the global capitalist economy.
By Stefan Steinberg, 9 January 2015
More than six years since the 2008 financial crash, Europe is beset by economic stagnation.
By Nick Beams, 7 January 2015
Markets fell again on Tuesday, reflecting the impact of falling oil prices and political turmoil.
By Nick Beams, 6 January 2015
The main factor in the fall in US markets appears to have been the further sharp decline in oil prices.
By David North and Joseph Kishore, 5 January 2015
The twenty-first century is no longer a novelty. As we begin the New Year, the past fifteen years provide sufficient data to allow us to identify the principal economic, geopolitical and social processes and tendencies that will determine the nature and direction of events in 2015 and the years ahead.
Figure hits $4.1 trillion
By Andre Damon, 3 January 2015
The wealth of the global financial elite soared last year amid surging stock markets fueled by cash infusions from central banks.
By Johannes Stern, 3 January 2015
International finance capital looks to the Egyptian military with enthusiasm not only for what it is doing in Egypt, but for the model the financial markets favor for every country.
By Nick Beams, 3 January 2015
ECB President Mario Draghi has taken another step to full quantitative easing amid increasing deflationary pressures.
By Dylan Lubao, 3 January 2015
Plummeting oil prices are causing Alberta and several other provinces to initiate new austerity drives and Canadian oil producers to slash investments and jobs.
By Nick Beams, 31 December 2014
Divergent central bank policies are a potential source of financial turmoil in 2015.
By Nick Beams, 27 December 2014
The ever-widening gap between financial markets and the real economy is creating the conditions for economic turmoil and the eruption of social and political struggles.
By Nick Beams, 22 December 2014
The gyrations on Wall Street last week underscore how dependent financial markets are on the supply of ultra-cheap money from the US Federal Reserve.
By Nick Beams, 16 December 2014
The worsening global slump is sending shock waves through financial markets.
By Nick Beams, 15 December 2014
Share prices fell last week amid fears that the rapid drop in oil prices is having an impact on debt markets and signals a world downturn.
By Mike Head, 13 December 2014
There are now about five times as many unemployed workers as the number of job advertisements.
By Dietmar Henning, 12 December 2014
Thirty years ago, the richest 10 percent in OECD countries earned seven times more than the poorest 10 percent. Today, the ratio is 9.5 to 1.
By Nick Beams, 11 December 2014
The state of the euro zone economy continues to go from bad to worse.
By Nick Beams, 8 December 2014
The BIS warns of the growing volatility of international financial markets despite their apparent buoyancy.
By Patrick Martin, 6 December 2014
The latest Global Wage Report by the International Labor Organization documents the international working class’s declining share of world income.
By Nick Beams, 5 December 2014
The forecasts of euro zone growth rates and inflation point to an accelerating downturn in the region’s economy.
By Nick Beams, 4 December 2014
Output grew by only 0.3 percent in the third quarter, well below expectations, accompanied by a fall in national income.
By Terry Cook, 4 December 2014
Thousands more jobs across Australia’s mining and resources sector will be eliminated as major companies restructure their operations and shelve investment plans in response to the ongoing plunge in commodity prices and slowing global demand.
By Nick Beams, 2 December 2014
Energy companies, financial markets and whole economies are being severely impacted by the oil price slide following the decision by OPEC not to cut production.
By Patrick Martin, 2 December 2014
The fall in sales reflects the fact that the disposable incomes of working-class households continue to stagnate and decline.
By Nick Beams, 27 November 2014
The growing risk of stagnation in the euro zone is accompanied by the danger of renewed financial turbulence.
By Nick Beams, 25 November 2014
The Chinese central bank’s decision to cut interest rates and a speech by the European Central Bank president point to deteriorating conditions in the world economy.
By Nick Beams, 20 November 2014
Economic stagnation in Europe and the fourth Japanese recession in six years show that the world economy is in a downward spiral.
By Peter Symonds, 19 November 2014
Prime Minister Abe called the poll just a day after economic data showed that the country was in recession.
By Nick Beams, 18 November 2014
The shock announcement that Japan’s economy shrank for the second quarter in a row dealt a major blow to “Abenomics.”
By Nick Beams, 17 November 2014
The G20 summit pledge on economic growth is belied both by the actions of the major powers and the text of the final communiqué itself.
By Peter Symonds, 15 November 2014
Even before the summit began, Australian and British leaders targeted Russia—a sign of the bitter rivalry and wrangling that will dominate the talks.
By Douglas Lyons, 15 November 2014
China’s shadow banking sector now ranks as the third largest in the world, according to a report by the Financial Stability Board.