• Going for broke

    Ideology and dogma ensure policy disaster

    Central banks (CBs) around the world–led by the U.S. Fed, European Central Bank and Bank of England–are raising interest rates, ostensibly to check inflation. The ensuing race to the bottom is hastening world economic recession.

  • Declining productivity growth, 1990-2021

    Inflation targeting farce: High costs, moot benefits

    Sep 20, 2022 (IPS). Policymakers have become obsessed with achieving low inflation. Many central banks adopt inflation targeting (IT) monetary policy (MP) frameworks in various ways. Some have mandates to keep inflation at 2% over the medium term. Many believe this ensures sustained long-term prosperity. 

  • Elizabeth II dancing with Nkrumah, 1961

    Africa struggles with neo-colonialism

    After a quarter century of economic stagnation, African economic recovery early in the 21st century was under great pressure even before the pandemic, due to new trade arrangements, falling commodity prices and severe environmental stress.

  • America's real 'debt dilemma' - Philosophers for Change

    1980s’ redux? New context, old threats

    As rich countries raise interest rates in double-edged efforts to address inflation, developing countries are struggling to cope with slowdowns, inflation, higher interest rates and other costs, plus growing debt distress.

  • Stealing Resources - en.PermaCultureScience.org

    How NOT to win friends and influence people

    After four years of Trump’s ‘America first’ isolationism, U.S. President Joe Biden announced “America is back”. His White House has since tried to find allies against China and Russia.

  • Stagflation Fears Are Excessive If Break-Even Curve is Right

    Stagflation: From tragedy to farce

    SYDNEY and KUALA LUMPUR. Half a century after the 1970s’ stagflation, economies are slowing, even contracting, as prices rise again. Thus, the World Bank warns, “Surging energy and food prices heighten the risk of a prolonged period of global stagflation reminiscent of the 1970s.” 

  • A hunter offering a French gentleman three 'hottentot' (steatopygous) women

    Neo-colonial currency enables French exploitation

    SYDNEY and KUALA LUMPUR. Colonial-style currency board arrangements have enabled continuing imperialist exploitation decades after the end of formal colonial rule. Such neo-colonial monetary systems persist despite modest reforms.

  • Neocolonialism in Africa - Youth Voices

    Africa taken for ‘neo-colonial’ ride

    SYDNEY and KUALA LUMPUR. Like so many others, Africans have long been misled. Alleged progress under imperialism has long been used to legitimize exploitation. Meanwhile, Western colonial powers have been replaced by neo-colonial governments and international institutions serving their interests.

  • FTA = Death (Photo: citizennews.org)

    Weaponizing Free Trade Agreements

    Long seen as means to seek advantage on the pretext of providing mutual benefit, free trade agreements may increasingly become economic weapons in the new Cold War, disrupting earlier globalization.

  • SWIFT strengthened dollar

    SWIFT dollar decline

    SYDNEY and KUALA LUMPUR: U.S.-led sanctions are inadvertently undermining the dollar’s post-Second World War dominance. The growing number of countries threatened by U.S. and allied actions is forcing victims and potential targets to respond pro-actively.

  • Not War but Class War graffiti in Turin.

    Fighting inflation excuse for class warfare

    SYDNEY and KUALA LUMPUR. A class war is being waged in the name of fighting inflation. All too many central bankers are raising interest rates at the expense of working people’s families, supposedly to check price increases.

  • USA Federal Reserve System

    When saviours are the problem

    SYDNEY and KUALA LUMPUR: Central bank policies have often worsened economic crises instead of resolving them. By raising interest rates in response to inflation, they often exacerbate, rather than mitigate business cycles and inflation.

  • Galle Face Evening Flag Lowering Ceremony

    Sri Lankan economic crisis inflicted by self-serving elite

    SYDNEY and KUALA LUMPUR: Once deemed a basic human needs success story, Sri Lanka (SL) is now in its worst economic crisis since independence in 1948. Nonetheless, SL’s ‘moment of truth’ now offers lessons for other developing countries.

  • Page for individual images • Quoteinspector.com

    Financialization at heart of economic malaise

    COVID-19 has exposed major long-term economic vulnerabilities. This malaise–including declining productivity growth–can be traced to the greater influence of finance in the real economy.

  • Island state nations like the Marshall Islands are often among the most vulnerable to climate change and need financial support from wealthier countries.

    Climate change: Adapt for the future, not the past

    Funding for developing countries to address global warming is grossly inadequate. Very little finance is for adaptation to climate change, the urgent need of countries most adversely affected. Also, adaptation needs to be forward-looking rather than only addressing accumulated problems.

  • WWF Global Warming Ad_1

    Profiting from the carbon offset distraction

    Carbon offset markets allow the rich to emit as financial intermediaries profit. By fostering the fiction that others can be paid to cut greenhouse gases (GHGs) instead, it undermines efforts to do so.

  • Climate injustice at Glasgow COP-out

    Climate injustice at Glasgow COP-out

    Former Irish President Mary Robinson observed, “People will see this as a historically shameful dereliction of duty,… nowhere near enough to avoid climate disaster.”

  • COVID-19 vaccines: wealthier nations, including the UK, must drop their opposition to the proposed TRIPS waiver at the WTO

    WTO finished without TRIPS waiver

    The World Trade Organization (WTO) will soon decide on a conditional temporary waiver of Trade-Related Intellectual Property Rights (TRIPS).

  • coal fired power plant on the Ohio River

    Carbon tax over-rated

    Addressing global warming requires cutting carbon emissions by almost half by 2030! For the Intergovernmental Panel on Climate Change, emissions must fall by 45% below 2010 levels by 2030 to limit warming to 1.5°C, instead of the 2.7°C now expected.

  • Emissions from coal-fired power plants contribute to the air pollution in Ulaanbaatar, Mongolia

    Will Glasgow fix broken climate finance promises?

    SYDNEY and KUALA LUMPUR: Current climate mitigation plans will result in a catastrophic 2.7°C world temperature rise. US$1.6–3.8 trillion is needed annually to avoid global warming exceeding 1.5°C.