By Nick Beams, 21 May 2013
The very measures put in place to avert a crisis are creating the conditions for a new financial meltdown.
By Andre Damon, 17 May 2013
Negative economic figures released this week point to continuing stagnation in the US amidst a worsening slump internationally.
By Andre Damon, 16 May 2013
The euro area economy contracted by 0.2 percent in the first quarter of this year, which was followed by further calls for austerity.
By Andre Damon, 13 May 2013
Perhaps more than any other section of society, young people have been made to bear the brunt of the crisis that erupted in 2008.
By Nick Beams, 13 May 2013
Differences within the G-7 over economic policy are fuelled by the fact that almost five years since the global financial crisis erupted, the world economy is marked by deepening recessionary trends.
By Barry Grey, 9 May 2013
In the midst of the worst economic crisis since the Great Depression, the Dow has gained over 8,500 points, surging nearly 130 percent since it bottomed out in March of 2009.
By Nick Beams, 3 May 2013
The collapse of the European economy points to the bankruptcy of the capitalist economic order.
By Andre Damon and Stefan Steinberg, 2 May 2013
Unemployment in the euro zone hit another record in March, with no end in sight to the economic and social catastrophe gripping Europe.
By Alex Lantier, 30 April 2013
With 26 million workers unemployed in Europe, Hollande is signaling that he will keep supporting social cuts that are devastating the French and European economies.
By Nick Beams, 22 April 2013
The discussions were dominated by the realisation that there is no economic recovery in sight.
By Andre Damon, 18 April 2013
The International Monetary Fund downgraded its 2013 outlook for the world economy Tuesday amid mounting signs that the global slump is intensifying.
By Nick Beams, 17 April 2013
The downturn in the gold price decline flies in the face of market expectations that it would rise or at least remain firm.
By Bill Van Auken, 11 April 2013
The inflation spike has been driven by a sharp rise in the price of food and other consumer items, with the impact felt acutely by Brazil’s working class and poor.
By Robert Stevens, 9 April 2013
The terms dictated to Cyprus by the European Union in exchange for a bailout are predicated on the destruction of the pay and conditions of the working class.
By Julie Hyland, 4 April 2013
The punitive measures imposed on Cyprus mark a qualitative deepening of the European bourgeoisie’s class war offensive.
By Stefan Steinberg, 4 April 2013
The latest figures from the Eurostat statistics office confirm that the continent’s economic recession is taking a rising toll on jobs and living standards.
By Robert Stevens, 30 March 2013
Fresh from its financial looting of Cyprus, the European bourgeoisie is threatening to withhold funds from Greece unless it complies with mass sackings in the public sector.
By Andre Damon, 30 March 2013
Bernard Madoff, who admitted in 2009 to running a multibillion-dollar Ponzi scheme, has charged that the government-appointed trustee for his firm’s investors is ignoring evidence of major banks’ complicity in his activities.
By Jordan Shilton and Chris Marsden, 19 March 2013
Terms attached to the European Union bailout for Cypriot banks triggered heavy losses on financial markets.
By Peter Symonds, 18 March 2013
While dressed up as “free trade”, the Trans-Pacific Partnership is in reality a trade war measure.
By Stefan Steinberg, 8 March 2013
On the same day that figures were released underlining that Europe is in deepening recession, European stock markets soared to their highest levels since August 2008.
By Stefan Steinberg, 6 March 2013
Those responsible for a redivision of social wealth for the benefit of the banks are seeking to portray themselves as advocates of ordinary Europeans.
By Barry Grey, 2 March 2013
The grim economic statistics coincide with new moves by the European Union and the Obama administration in the US to slash social spending and public-sector jobs and wages.
By Barry Grey, 28 February 2013
The real beneficiaries of the policy Bernanke reaffirmed was reflected in the surge of share values on global stock markets.
By Nick Beams, 25 February 2013
The share sell-off in reaction to concerns over the Fed’s quantitative easing program shows that markets are floating on a sea of liquidity created by central banks.
By Nick Beams, 18 February 2013
The G20 declaration will have virtually no impact on the development of a currency war.
By Andre Damon, 15 February 2013
The economy of the 17-member euro zone contracted 0.6 percent in the last three months of the year, underscoring the depth of the economic slump gripping the world economy.
By Nick Beams, 15 February 2013
The meeting of G20 finance ministers and central bankers in Moscow over the next two days is being held amid a deep contradiction in the global capitalist economy.
9 February 2013
By Clara Weiss, 7 February 2013
The budget for 2013-2015 provides for massive cuts in the spheres of culture, education and health, while the share going to military spending will rise to 6.1 percent of GDP.
By Andre Damon, 7 February 2013
US financial regulators increasingly rely on “independent investigators” who, in the guise of helping regulators find wrongdoing, help financial firms cover up their fraudulent activities.
By Joe Mount, 5 February 2013
Youth unemployment continues to rise in the UK, with a new study forecasting that 86,000 more workers under the age of 25 will be without jobs this year.
US stocks near record highs
By Barry Grey, 2 February 2013
The enthusiastic response of the financial markets to the jobs report underscores the stark divergence between the fortunes of the financial elite and the broad mass of working people.
By Barry Grey, 31 January 2013
The Commerce Department report highlights the disconnect between the bleak economic conditions facing working people and the staggering rise in corporate profits and stock and bond prices.
By Andre Damon, 28 January 2013
Newly released data shows that the economies of Germany, Britain and Spain contracted in the fourth quarter of 2012.
By Peter Symonds, 26 January 2013
The new Abe government is pursuing an aggressive nationalist program on two fronts: remilitarisation and a unilateralist monetary policy.
By Kate Randall, 23 January 2013
Five years after the outbreak of the global financial crisis, world economic growth has decelerated and the jobless rate is projected to continue to rise until at least 2017.
By Barry Grey, 17 January 2013
More than four years after the September 2008 financial meltdown on Wall Street, there is no end in sight to the economic crisis.
By Barry Grey, 5 January 2013
Fewer than one in five unemployed workers found a job last month, and the total number of jobs remained 4 million below the peak at the start of 2008.
By Nick Beams, 3 January 2013
Almost six years after the first signs of financial crisis and more that four years after the crash of 2008, “recovery” in the global economy is more remote than ever.
By Nick Beams, 28 December 2012
The monetary policies of the world’s major central banks threaten to repeat, in another form, the conflicts of the Great Depression.
By Andre Damon, 22 December 2012
Not only has the Libor swindle exposed the criminality of the banks, it has laid bare the nexus of corruption and complicity involving governments and financial regulators the world over.
By Andre Damon, 20 December 2012
The Libor scandal has laid bare the rampant criminality in the operations of the world's major banks.
By Barry Grey, 13 December 2012
The financial mafia that bestrides the American economy and controls the political system is, in practice, above the law.
By Deepal Jayasekera, 13 December 2012
Last week’s debate and vote on opening India to Walmart and other giant retailers has underscored the support of all sections of India’s political establishment for big business’ economic agenda.
By Ernst Wolff, 11 December 2012
A New York court ordered Argentina to settle debts totalling $1.33 billion with hedge fund NML Capital by December 15.
By Stefan Steinberg, 10 December 2012
Discussions between European Union finance ministers on the formation of a banking union for the euro zone broke down last Tuesday.
By James Brewer, 6 December 2012
Citigroup’s announcement of global layoffs, the first step in the restructuring plan of its new CEO, was met with enthusiasm by investors.
By Bryan Dyne, 29 November 2012
In its most recent report, the Organization for Economic Cooperation and Development revised its forecast for the world economy, sharply cutting projections and warning of the possibility of a “deep recession and deflation.”
By Keith Jones, 29 November 2012
An Ontario Superior Court judge has ordered Toronto Mayor Rob Ford to vacate the office on December 10 after finding him guilty on conflict of interest charges.
By Nick Beams, 23 November 2012
China and India will not be able to provide the basis for a new period of global growth
By Alex Lantier, 23 November 2012
On November 19, the credit rating agency Moody’s downgraded France’s sovereign debt by one notch from Aaa, the top rating, to Aa1.
By John Chan, 23 November 2012
International and local business elites are pressing for a new round of economic restructuring in China, especially targeting state enterprises.
By Peter Symonds, 22 November 2012
Obama’s pivot to Asia is part of a comprehensive campaign to maintain US dominance in Asia on every front—diplomatic, economic and strategic.
By Andre Damon, 21 November 2012
JPMorgan Chase and Credit Suisse will pay $416.9 million to settle charges by the Securities Exchange Commission that they lied to investors about the quality of mortgage-backed bonds.
By Mike Head, 17 November 2012
Standard & Poor’s drew parallels between Australia and Spain, and warned that Australia could risk losing its AAA credit rating.
By Robert Stevens and Jordan Shilton, 13 November 2012
A meeting of euro zone finance ministers on Monday delayed a further 31.5 billion euros in aid to Greece.
By Nick Beams, 10 November 2012
The series of measures put in place by governments and financial authorities to prevent a financial meltdown and depression are reaching the end of their limited effectiveness.
By Andre Damon, 9 November 2012
The European Commission slashed economic forecasts for the continent, including for Germany, as governments throughout the continent enforce brutal austerity.
By Alejandro López, 30 October 2012
The European recession has increased suffering among the Spanish people.
By Nick Beams, 24 October 2012
More than four years after the collapse of Lehman Brothers, the economic outlook is steadily worsening around the world.
By Kate Randall, 24 October 2012
DuPont announced 1,500 job cuts on Tuesday, as the chemical company slashed its annual forecast and reported a lower-than-expected quarterly profit. The news signaled that demand for the company’s paint and solar products is slipping around the world.
By Patrick O’Connor, 23 October 2012
The abrupt end of the mining boom has had an immediate impact on the government’s budget, demonstrating the acute sensitivity of Australian capitalism to global economic shifts.
By Nick Beams, 17 October 2012
The world economy is moving deeper into recession while the central banks are creating the conditions for a new financial crisis.
By Nick Beams, 15 October 2012
The tensions were evident when Germany objected to IMF head Christine Lagarde’s call for Greece to be given more time to pay, and Brazil branded US monetary policy “selfish”.
By Nick Beams, 12 October 2012
According to the latest Global Financial Stability Report, “confidence in the global financial system has become very fragile.”
By Nick Beams, 9 October 2012
The annual meeting of the International Monetary Fund and World Bank which starts in Tokyo today comes amid growing signs of a major economic downturn.
By John Chan, 8 October 2012
The conflict between the governments in the world’s second and third largest economies over disputed islands in the East China Sea could compound global economic turmoil.
By Patrick O’Connor, 5 October 2012
Garnaut’s statements are part of a wider campaign by economic commentators and media outlets for brutal austerity measures against the working class.
By Nick Beams, 3 October 2012
Despite Libor reforms, the corruption at the heart of the international financial system will remain intact.
By Andre Damon, 2 October 2012
A string of negative reports has revealed a significant deterioration in the global economy, with world trade slowing, manufacturing contracting, and the number of unemployed workers in the euro zone hitting a record high.
By Andre Damon, 29 September 2012
Despite a string of disastrous economic figures, stock markets throughout the world are surging.
By Will Morrow, 26 September 2012
The Labor government and the unions are determined to satisfy the requirements of the mining companies.
By Nick Beams, 24 September 2012
One of the consequences of the Fed’s actions is to push down the value of the US dollar, thus worsening the competitive position of other major countries.
By Mark Church, 14 September 2012
Hundreds of residents evacuated after a fatal fire in a Sydney apartment block have been left without homes or government support.
By Nick Beams, 14 September 2012
Yesterday’s announcement is the most open-ended commitment given by the Fed to bolster financial markets since the crisis began four years ago.
By Andre Damon, 10 September 2012
The Center for Budget and Policy Priorities released a report last Friday showing that cuts in jobless pay and the layoff of public-sector workers threw over 1.5 million people into poverty last year.
By Andre Damon, 8 September 2012
Less than 12 hours after US President Barack Obama gave his speech at the Democratic National Convention, a disastrous jobs report released Friday shattered the administration’s pretenses of an “economic recovery.”
By Stefan Steinberg, 8 September 2012
The financial elite is demanding a fundamental assault in Greece on all the gains made by the working class in the twentieth century.
By Nick Beams, 7 September 2012
The ECB will increasingly act as a financial dictator over the euro zone, enforcing ever-deeper cuts in the living standards of the working class to provide funds to financial markets for their speculative activities.
By Stefan Steinberg, 6 September 2012
The letter leaked to the press before EU and IMF talks in Athens calls for a six-day work week, new minimum wage cuts, and other attacks.
By Andre Damon, 4 September 2012
Signs of deepening global slump are mounting as manufacturing activity in Europe and Asia contracts and European banks request new bailouts.
By Nick Beams, 3 September 2012
The gathering demonstrated that the central bankers do not even understand the workings of the system over which they are supposed to preside.
By Nick Beams, 28 August 2012
The latest FOMC meeting amounted to an acknowledgement that while the financial system continues to operate on a day-to-day basis, in a longer-term, historical sense it has completely broken down.
By Mike Head, 24 August 2012
BHP Billiton shelved its $20 billion Olympic Dam mine expansion plans in South Australia, triggering considerable nervousness within the Labor government.
By Kranti Kumara, 18 August 2012
High inflation and the sharp depreciation of the rupee have prevented India’s central bank from cutting interest rates to counter faltering economic growth.
By Nick Beams, 16 August 2012
Data showing a marked slowdown in the Chinese economy have a global significance for they make clear that the economic breakdown is deepening and extending to all parts of the world.
By Barry Grey, 15 August 2012
Bankers can lie, steal, cheat and defraud the public without limit, causing human suffering and social ruin on a global scale, with no fear of being held accountable.
By Naomi Spencer, 15 August 2012
Grain prices surged to new records after the US Department of Agriculture downgraded its harvest projections.
By Jean Shaoul, 15 August 2012
Scandals emerging from the financial services industry on an almost daily basis point to the ongoing criminal practices of British banks.
By Kate Randall, 14 August 2012
Google Inc. announced Monday that it is cutting 4,000 jobs in its Motorola Mobility cell phone business and will close or consolidate a third of the unit’s 90 locations.
By Naomi Spencer, 10 August 2012
Global food prices rose 6.2 percent in July, the United Nations’ Food and Agriculture Organization reported Thursday.
By John Chan, 8 August 2012
Beijing will try to stem a six-quarter slowdown in the world’s second largest economy by boosting bank credit and further stimulus measures.
By Nick Beams, 6 August 2012
The impact of the continuing crisis of the euro zone is spreading outwards through the global economy, bringing signs of a gathering world slump.
By Andre Damon, 4 August 2012
The US economy added only 163,000 jobs in July according to government figures, and the unemployment rate grew to 8.3 percent, the Labor Department said on Friday.
By Jean Shaoul, 3 August 2012
Israel’s cabinet has approved austerity measures aimed at increasing taxes by NIS13 billion ($3.25 billion) and slashing state expenditure by NIS12 billion ($3 billion).
By Robert Stevens, 3 August 2012
The UK Conservative/Liberal Democrat government this week announced the terms of a review into the deepening London Inter-Bank Offered Rate crisis.
By Peter Schwarz, 2 August 2012
Although most governments and parliaments are on their summer break, a fierce dispute over the future of the euro is raging between the European capitals.
By Patrick Martin, 28 July 2012
Long-term unemployment and job insecurity have undermined consumer and business confidence.