Banking

Say no to Austerity for Workers: McConnell and the GOP are about to pull the “We have no money” scam

Southwest Harbor, Maine (Special to Informed Comment) – Not surprisingly the national debt is a subject of concern. Liberal and Left economists, most of whom supported the CARES relief package, knew and predicted that once the Trump tax reduction for the rich had become law—despite the massive increases in government debt it entailed– debt would […]

Banking

Whoever wins the Election will face Severe Eviction Crisis, as 30 million brace for Homelessness

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Whoever wins Tuesday’s election is virtually certain to be confronted by a severe foreclosure and eviction crisis as state and local governments face acute budget shortfalls. These crises interact with each other and in ways that intensify the economic damage they inflict. The harm is also psychological […]

Banking

ODNI Blamed Syrian Banks, but Did the West’s Deutsche Bank Facilitate ISIL Finances in Mosul?

Middle East Monitor

By Hala Nouhad Nasreddine | – ( Middle East Monitor) The Islamic State’s infamous rule over vast areas of Iraq during 2014 and 2016 not only led to a humanitarian crisis, but also left the country’s economy depleted. Its expansion in Iraq, marked by its control over vast areas of the country, most notably capturing […]

Banking

Also, Defund the CEOs

Sam Pizzigati

(Inequality.org) – America’s dirtiest three-letter word may now be “CEO,” and our ongoing economic meltdown is only making that tag even dirtier. Chef executives the nation over have spent this past spring scheming to keep their pockets stuffed while their workers suffer wage cuts, layoffs, and even death by Covid-19. Not all CEOs, of course. […]

Banking

Once the “Paris of the Middle East,” Lebanon’s Financial and Health Crises are Tearing it Apart

Jamal Dillman-Hasso

Ann Arbor (Informed Comment) – Lebanon may have survived its bubbles and wars decades ago, but the combination of economic crisis and the coronavirus may have put it in a serious position once again. During the pandemic, Lebanon’s once-vibrant tourist industry is moribund (some two million visited the country of four million in 2019), and […]

Banking

The Great Depression, Coronavirus Style: Crashes, Then and Now

Nomi Prins

(Tomdispatch.com) – Many economists believe that a recession is already underway. So do millions of Americans struggling with bills and job losses. While the ghosts of the 2008 financial crisis that sent inequality soaring to new heights in this country are still with us, it’s become abundantly clear that the economic disaster brought on by […]

Banking

Is Mitch McConnell Blocking further Congressional Aid to States on Behalf of Vulture Funds and Corporations with Impunity?

John Buell

Has the Senate Majority Leader lost his faith in the wisdom and predictability of markets? Crude partisanship may underlie his reluctance to enact further Covid Depression relief assistance, but the reason given was extraordinary. The Senator professed a desire to wait for the effects of the first relief package to become apparent. “I think we […]

Banking

When Renters and Homeowners and Small Businesses need a Bailout, the Fed gives it to Big Corporations

Tomdispatch

By Nomi Prins | – ( Tomdispatch.com ) – To say that these are unprecedented times would be the understatement of the century. Even as the United States became the latest target of Hurricane COVID-19, in “hot spots” around the globe a continuing frenzy of health concerns represented yet another drop down the economic rabbit […]

Banking

The US Tax System is a vast Ponzi Scheme that only Benefits the Wealthy

F. Douglas Stephenson

( Gainesville Sun ) – There are no easy answers to financing U.S. health insurance, mental health care, social services, public health and other services for nearly 330 million individuals. The USA is a very large country and financing services must be tailored to this reality. Accordingly, funding government programs requires us to muster the […]