In early December the ratio of public debt of the United States to GDP has reached 99.5%, which is the highest number since World War II. After placing another portion of the bonds at $160 billion, the U.S. will exceed this significant number. Rating agencies are willing to revise the U.S. credit scores. There is […]
The European debt crisis is gathering pace. The debt of the Eurozone countries totals 89 percent of the GDP vs. the required 60 percent. The crisis has hit both secondary and primary economies. The public debt of Greece makes up 166 percent of the GDP, Portugal – 106 percent. The largest economies of the region […]
AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters’ worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy. The study’s assumptions have attracted some criticism, but complex systems analysts […]
Some people have started realizing that there are large financial groups that dominate the world. Forget the political intrigues, conflicts, revolutions and wars. It is not pure chance. Everything has been planned for a long time. Some call it “conspiracy theories” or New World Order. Anyway, the key to understanding the current political and economic […]
Capitalism Is The Crisis: Radical Politics in the Age of Austerity examines the ideological roots of the austerity agenda and proposes revolutionary paths out of the current crisis. The film features original interviews with Chris Hedges, Derrick Jensen, Michael Hardt, Peter Gelderloos, Leo Panitch, David McNally, Richard J.F. Day, Imre Szeman, Wayne Price, and many […]
Life and Debt explores the effect of the International Monetary Fund’s (IMF) policies on developing countries through Jamaica’s experience with the organization. Jamaica, having gained its independence from Britain in 1962, found itself struggling as a result of the oil embargo the following year. In order to receive loans from the IMF, the country entered […]
Due to the money crisis in Greece many people have resorted to bartering. The Time Bank is the name of the service swapping that has been growing. Will more Greeks adopt this practice? Sara Firth tells us more.
Thomas Jefferson and Andrew Jackson understood “The Monster”. But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound […]