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Credit Suisse: Afterthoughts to the end of the party
If you want to win back the trust of people, you have to protect them from the excesses of the financial world.
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U.S. bank bailout benefited billionaires, exposing corruption: ‘I understand why Americans are angry’
Before it collapsed and its billionaire depositors were bailed out by the U.S. government, Silicon Valley Bank successfully lobbied Congress to remove regulations on it. A senator admitted, “I understand why Americans are angry, even disgusted”.
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The ‘Chinese interference’ story is rooted in xenophobia, economic decline
Ottawa’s anxieties about a power to the East are neuralgic, irrational, and grimly familiar.
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Banking crisis: is it all over?
Bank stock prices have stabilized at the start of this week. And all the key officials at the Federal Reserve, the U.S. Treasury and the European Central Bank are reassuring investors that the crisis is over.
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A beginners guide to bank failures
According to a February 2023 Federal Deposit and Insurance Corporation (FDIC) audit, 563 U.S. banks have failed and/or come under regulatory authority since 2021.
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Getting ready for the global financial crisis 2.0
We see again that banks have access to the protection of an unlimited nanny state, while others are left to fend for themselves.
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Consequences and Lessons of the New U.S. Bank Collapses
The collapse in rapid succession of Silicon Valley Bank and Signature Bank confirms the extremely damaging character of U.S. stimulus policies.
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Why the U.S. banking system is breaking up
Economist Michael Hudson responds to the collapse of Silicon Valley Bank and Silvergate, and explains the similarities with the 2008 financial crash and the savings and loan crisis of the 1980s.
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Silicon Valley Bank collapses, the bailout has begun
Silicon Valley Bank, the 16th largest in the U.S., was shut down on March 10 and put under the control of the California Department of Financial Protection and Innovation.
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The Washington Post is coming for your retirement benefits
When Jeff Bezos bought the Washington Post for $250 million in 2013, he didn’t transform it into a paper that elevated the perspectives of the wealthy elite—it had already been that for decades.
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How not to deal with a debt crisis
Jayati Ghosh warns against historically disastrous approaches to the sovereign-debt crisis hitting low- and middle-income countries.
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Cuba assumes the head of the G-77 at a critical time
On January 12, Cuba took the presidency of the G77+China for the first time in history after being elected in September 2022 during the 77th Session of the United Nations General Assembly (UNGA).
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Peru and capitalist extraction–the imperial mining powers behind the throne
As a rainbow of social movements in Peru prepare for a general strike starting on 4 January the country is polarised between party politicians’ intrigues and action of the masses on the streets.
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Mainland media fail to ask why Puerto Rico requires ‘resilience’
The people of Puerto Rico woke up on the morning of September 19 only to relive a nightmare. Two days before Hurricane Maria’s five-year anniversary, on September 18, Hurricane Fiona made landfall on the island’s southwest coast. The storm caused widespread flooding, landslides and power outages. At least 16 people have died as a result.
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Marxism and the climate crisis (John Bellamy Foster on the ‘Historical Materialism podcast’)
Foster begins by referencing the fact that the 19th century, Newtonian view of nature, and the mechanistic, positivist approach to science originally penetrated socialist thought.
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Many reasons why price cap on Russian oil exports cannot work
The United States and its allies are trying to impose new restrictions on the Russian economy, but like attempts so far, this one too looks fated to fail.
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The most important election in the Americas is in Brazil
Former president Lula is in the lead in the polls ahead of the first round of elections in Brazil to be held on October 2. These elections will be transformative for Brazil and will have ramifications across the globe.
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Economics for the Anthropocene
Ubiquitous, and worsening, environmental instability means we will have to throw out the anthropocentrism of economics.
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Be moderate…we only want THE EARTH!
We have to recognize that there is a pathway forward for humanity, but that the capitalist world system, and today’s governments that are largely subservient to corporations and the wealthy, are blocking that pathway, simply because it requires revolutionary-scale socioecological change.
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Ending pandemic aid created a disaster
New data show the end of pandemic relief coincided with a 49 percent increase in the number of families struggling to survive.