Labor
Tennessee GM Workers Vote Down UAW-GM Proposed Deal Payday Report
Why I’m Voting No on UAW’s Deal With GM: A “Third-Tier” Worker Speaks In These Times
Thousands of Volvo workers face layoffs as Mack Truck sees first strike in 35 years CNBC
JFK Airport Workers Answer Union-Busting Bosses With 24-Hour Strike LaborPress
Chicago teachers strike continues FightBack! News
Chile
General Strike Called in Chile in Support of Protests teleSUR
Hundreds of Thousands Hold the Central Square in Chile, Despite a State of Emergency Left Voice
Bolivia
Bolivia Wants More Evo Resumen
Syria
Trump’s Syria strategy: Get out, but “keep the oil” Axios
New York Times Fakes The Record About Arming The Syrian Rebels Moon of Alabama
Everyone Is a Russian Asset Matt Taibbi
America laughed at Hillary Clinton’s remarks about Tulsi Gabbard, but her ideas fit perfectly in the intellectual mainstream
Corporate debt, fiscal stimulus and the next recession Michael Roberts
The debt owed by corporations in the major economies has risen since the end of the Great Recession in 2009. With global growth slowing and the prospect rising of an outright global recession recurring ten years after the last one, the debt held by corporations may soon become so burdensome to a sufficiently large number of companies that it triggers a round of corporate bankruptcies. The banks will then see a sharp rise in non-performing loans. That could lead to a new credit crunch as banks refuse to lend to each other.
Such a credit squeeze briefly erupted last month, when the US Federal Reserve was forced to inject over $50bn into the banking system in order to reverse a very sharp rise in inter-bank interest rates as cash-flush banks refused to help out weaker ones. The cause of that squeeze was a rise in the supply of government bonds as the Trump administration issued more to cover its rising budget deficit. Some banks were not able to fund the purchases they were committed to without borrowing.
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