The latest measure of U.S. consumer price inflation for July actually showed an uptick in the year-on-year rate to 3.2% from 3% in June. That is mainly a result of comparison (‘base effects’, they are […]
As Marxist economist Sam Williams discusses on his “Critique of Crisis Theory” blog, in early March, Silicon Valley Bank (SVB) in California — the “favorite bank of the area’s tech companies and associated venture capitalists” — […]
Worldwide there is a “cost-of-living” crisis. Inflation is raging. Food prices are out of reach. Access to housing is collapsing, with unsheltered homelessness up more than 30% in U.S. cities. New apartment sizes have […]
The IMF managing director Kristalina Georgieva has now openly admitted that the year 2023 will witness the slowing down of the world economy to a point where as much as one-third of it will see […]
Based on remarks at the Socialist Unity Party national plenum on Aug. 13. The global working class is being hit hard by inflation. But what is inflation, and how can we understand both its causes […]
Today the federal minimum wage is $7.25! Let that sad fact sink in. Right now you can barely buy a gallon of gas in some parts of the country with that little cash. July 24 […]
President Joe Biden used the phrase “Putin’s price hike” again in a reaction to the June 10 Consumer Price Index report revealing continued high inflation. Biden isn’t a comedian, like that guy Zelensky in […]
Will Washington’s seizure of $300 billion Russian assets end domination of dollar as global currency? On Feb. 26, the U.S. blocked Russia’s access to over $300 billion in foreign reserves held in banks in the […]
In February, President Joe Biden made it clear that the U.S./NATO military escalation in Europe was not about Ukraine. Since taking office in 2021, President Biden has been more focused on Germany and Russia, in […]
On Feb. 22, President Joe Biden announced new sanctions on Russia and on the company that built Nord Stream 2 and its German CEO. These sanctions will mean higher gas prices in the U.S. as […]
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