Category: Markets

Edward Morris: Why Bernie’s Right About Glass-Steagall

Most observers think Sanders is on a quixotic quest and, with Wall Street’s political power, the chances of any revival of Glass-Steagall are, like his election to the presidency, slim. Yet Sanders has a strong argument, one that can be effectively made using Citigroup

Pete Dolack: Let Them Eat iPhones

What if instead banks became a public utility with an end to speculation? Proposals are being floated in the U.S. to create state banks, perhaps on the model of the successful Bank of North Dakota

Larry Cohen: Bernie Sanders and the Big Short

The Big Short provides the narrative for how Wall Street keeps that growth going, with little increase in real value, but lots of high salaries and high living that all count towards GDP.

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Andrew Gavin Marshall: Mafiocracy

On November 13, 2015, the United Kingdom’s Serious Fraud Office (SFO) announced it was charging ten individual bankers, working for two separate banks, Deutsche Bank and Barclays, with fraud over their rigging of the Euribor rates.

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Jack Rasmus: Systemic Fragility in the Global Economy, Part 2

At the most fundamental level, the shift from investing in real assets to financial asset investing occurs because the structure of the global economy today incentivizes financial asset investment more than real asset investment.

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Glenn Greenwald: Stock Prices of Weapons Manufacturers Soaring Since Paris Attack

Note how immediate the increases are: The markets could barely wait to start buying

Pete Dolack: Speculators Circling Puerto Rico

Puerto Rico’s governor may have said the commonwealth’s debt is not payable, but that doesn’t mean Puerto Ricans aren’t going to pay for it. Vulture capitalists are circling the island, ready to extract still more wealth. You may already know the drill: capital is sucked out by corporate interests that pay little in taxes, and speculators swoop in

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Lawrence Wittner: The Sad Case of Start-Up NY

For several decades, state and local governments have been showering private businesses with tax breaks and direct subsidies based on the theory that this practice fosters economic development and, therefore, job growth. But does it?

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Justin Podur: Taylor Swift’s Millions Aren’t Worth a Single Prison Term

When artists say file-sharing is reducing their “value” as artists, they are helping make the persecution of file-sharing politically acceptable

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Jack Rasmus: Global Economic Instability, Part 1

Taylan Tosun interviews Rasmus about his forthcoming book, Transitions to Global Depression.

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