By Barry Grey, 12 August 2017
Large sections of the working population lack the wherewithal to buy more than the bare necessities, which is why the retail slump is primarily hitting stores that cater to the working class.
By Nick Beams, 4 August 2017
The Dow’s record-breaking close coincided with Depression-like scenes of thousands of workers in the US lining up for job applications with Amazon, a firm which epitomizes poverty wages and super-exploitation.
By Evan Blake, 28 July 2017
Bezos’s ascension to the heights of society rests on the exploitation of Amazon’s hundreds of thousands of workers worldwide.
By Nick Beams, 25 July 2017
A decade after the global financial crisis, growth rates remain well below the levels of 2008, with no sign of a return to the previous levels in the future.
By Roger Jordan, 21 July 2017
Washington intends to use the talks to extract concessions from corporate America’s Canadian and Mexican rivals and to forge a US-led trade bloc to confront its global rivals.
By Isaac Finn, 21 July 2017
Global risk management firm Willis Towers Watson revealed the impact of the corporate-government assault on workers’ retirement and medical benefits.
By Daniel de Vries, 20 July 2017
The plan introduced Tuesday would dismantle Medicare and Medicaid while cutting corporate taxes.
By Nick Beams, 18 July 2017
According to the authors of a recent study, the reason for the high cost of drugs in the US is the prevalence of a “social disease” called “maximising shareholder value.”
By Alexander Fangmann, 10 July 2017
The new budget will become law, enshrining massive across-the-board cuts of 5 percent to most state government agencies, and 10 percent to higher education.
By Nick Beams, 8 July 2017
As a result of the US Federal Reserve decision, the market value of American banks is estimated to have risen by $40 billion.
By Matthew MacEgan, 8 July 2017
Missouri’s Republican-controlled legislature passed a law that reverses the city of St. Louis’s 2015 hourly minimum wage increase, lowering it from $10 back to the state’s standard of $7.70.
By Anthony del Olmo, 8 July 2017
Sears Holdings’ announcement last week of the closing of 43 locations, including Sears and Kmart stores, is the latest in a wave of retail closures and layoffs.
By Nick Beams, 4 July 2017
The economic model the Fed has broken down under conditions in which parasitism has become the dominant form of profit accumulation.
By Nick Beams, 30 June 2017
The IMF has not only revised down its projections of US growth but said the country’s “economic model” was failing to deliver “broadly shared” income growth.
By Gabriel Black, 19 June 2017
Stripping away parts of Dodd-Frank will remove its minimal restrictions on Wall Street’s speculative activities.
By Evan Blake, 17 June 2017
Amazon CEO Jeff Bezos made $1.88 billion in a single day as the corporation’s octopus-like control expanded into a new segment of the world economy.
By Nick Beams, 15 June 2017
The overriding message was that low economic growth, falling consumption spending and the spread of part-time and casual work represent the new normal.
By Josh Varlin, 7 June 2017
A recent Federal Reserve study found that almost a third of adults have a variable income from month to month, which makes financial planning nearly impossible.
By Nick Beams, 6 June 2017
Far-reaching structural changes in the economy, above all the rise of low-paid part-time labour, have undermined the assumptions on which the Fed’s policies have been based.
By Gabriel Black, 5 June 2017
A new report by economist Gabriel Zucman argues that global inequality is significantly worse than shown in official estimates because of rampant tax evasion by the financial elite.
By Shannon Jones, 3 June 2017
General Motors announced 300 job cuts at its Warren, Michigan transmission plant amid continuing signs of a slowdown in US auto sales after a seven-year boom.
By Jerry White, 23 May 2017
The management reshuffling at the number two US automaker, described in industry circles as a “coup,” underscores the complete domination of the banks and financial speculators.
By Roger Jordan, 22 May 2017
The Trump administration is aggressively pursuing its “America first” agenda, renegotiating the agreement as economic protectionism grows around the world.
By Nick Beams, 19 May 2017
US productivity growth is running at around one third its level before the global financial crisis of 2008.
By Shelley Connor, 17 May 2017
The wealthiest 25 managers earned $11 billion last year while hedge funds yielded meager returns for investors.
By Anthony del Olmo, 15 May 2017
The rise in rates is an outcome of the stock market boom following Trump’s election, and comes at a time when the plight of students continues to worsen.
By Nick Beams, 12 May 2017
Apple’s market valuation and cash holdings illustrate a major shift in the mode of profit accumulation and how share values increasingly result from financial manipulation.
By Shannon Jones, 11 May 2017
Higher auto profits are being accompanied by job cuts as management intensifies its assault on autoworkers.
By Barry Grey, 9 May 2017
At the heart of the corporate profit bonanza is an ongoing drive to cut costs by holding down wages, cutting jobs and slashing spending on new plants and equipment.
By Kathleen Martin, 5 May 2017
Higher education, seen as a key to social mobility in the US, is becoming increasingly unattainable to a growing section of the American working class.
By Nick Beams, 5 May 2017
There is conjecture about what Apple intends to do with its cash pile, but one thing is certain: it will be used for forms of speculation and financial manipulation.
May Day 2017
By Nick Beams, 2 May 2017
The historic crisis of the global capitalist system is now producing the very conditions that led to the economic conflicts of the 1930s and the eruption of war in 1939.
By Barry Grey, 2 May 2017
Republicans hailed the agreement as a down payment on Trump’s demands for a $54 billion increase in the Pentagon budget to be paid for with cuts in social programs.
By Debra Watson, 1 May 2017
Michigan had an official poverty rate of 22.2 percent in 2015, more than at the end of the first full year of the 2008 recession.
By Barry Grey, 29 April 2017
Friday’s report underscores the disconnect between the rising fortunes of the corporate oligarchy and the continuing fall in living standards for broad sections of the population.
By Nick Beams, 28 April 2017
The Trump administration has signalled that it will take an aggressive economic nationalist stance in negotiations on NAFTA after making moves to withdraw altogether.
By Patrick Martin, 27 April 2017
The proposal unveiled Wednesday would channel trillions of dollars into the pockets of the financial elite at the expense of social programs and working class living standards.
By Nick Beams, 22 April 2017
The stock market has lifted but consumer spending is falling and industrial production is flat.
By Roger Jordan, 22 April 2017
Trump’s sharp criticism of Canada over its trading practices in a number of economic sectors prompted a conciliatory response from Ottawa.
By Kathleen Martin, 22 April 2017
Research released by the Psychiatric Services journal indicates disturbing growth of psychological distress in the United States, correlating directly to the continuing economic crisis.
By Gabriel Black, 17 April 2017
Unbridled speculation and a shift towards high-tech products, like automated cars, explains the electric car manufacturer’s seemingly absurd valuation.
By Niles Niemuth, 12 April 2017
Along with mounting store closures, retailers eliminated nearly 60,000 jobs in February and March, making it the worst two-month period for the retail sector since 2008.
By Kate Randall, 11 April 2017
Income-based disparities in US life expectancy are worsened by the for-profit US health care system.
By J. Cooper, 11 April 2017
Wall Street is concerned at the surge in auto loan defaults, a further indication that the sales boom of recent years is winding down.
By Shannon Jones, 8 April 2017
The worst job numbers since May 2016 underscore the disconnect between surging stock prices and the underlying economy, and the fraud of Trump’s “jobs” agenda.
By Barry Grey, 23 March 2017
Whatever the short-term trend on the financial markets, Tuesday’s downturn reflected the underlying unsustainability of the massively inflated stock valuations.
By Shannon Jones, 22 March 2017
In 2016 the combined wealth of the world’s richest individuals rose 18 percent to a staggering $7.67 trillion.
By Patrick Martin, 17 March 2017
The budget proposes to increase spending on the military and homeland security by nearly $60 billion, while slashing spending on the environment and social programs.
By Nick Beams, 16 March 2017
The US stock markets rose after the Federal Reserve increased interest rates by 0.25 percent but concerns were voiced over the divergence between the world’s three major central banks.
By James Brewer, 11 March 2017
This announcement follows on the heels of thousands of job losses, giving the lie to the optimistic jobs report by the Labor Department.
By Nick Beams, 28 February 2017
The objective logic of Trump’s agenda of economic war, based on “America First” leads inexorably to military conflict.
By Nick Beams, 21 February 2017
Speaking on behalf of European capital, the London-based Financial Times has described the trade policies of the Trump administration as a “clear and present danger” to the global trading and monetary system.
By Barry Grey, 15 February 2017
While Yellen defended the Dodd-Frank banking law, she repeatedly stated her support for “mitigating” the regulatory “burden” on financial firms.
By Patrick Martin, 14 February 2017
The vote came as the stock market roared ahead, hailing Trump’s promises of a bonanza for US corporations and banks through the cutting of taxes and regulations.
By Jerry White, 8 February 2017
GM is doling out $14 billion in stock buybacks even as it lays off 3,300 workers in Michigan and Ohio.
By Barry Grey, 4 February 2017
Nothing could more clearly expose the farce of Trump's pretensions to be a champion of the American worker than his drive to lift all restraints on the financial oligarchy.
By Barry Grey, 2 February 2017
The central bank's deliberations were dominated by uncertainty over the course of both the US and world economy as a result of Trump's "America First" trade and monetary policies.
By Nick Beams, 30 January 2017
The lowest US growth rate in five years and the record 20,000 high for the Dow highlight the ever-widening disconnect between the financial system and the underlying economy.
By Barry Grey, 26 January 2017
The surge was buoyed by Trump’s promises of massive tax cuts for corporations and the rich, the wholesale lifting of business regulations, a massive expansion of military spending, and the prospect of a full-scale attack on social programs.
By Mike Head, 23 January 2017
Ending the Trans-Pacific Partnership is not a retreat into US isolationism but a ramping up of the offensive, commenced under Obama, to reassert American hegemony in Asia.
By Roger Jordan and Keith Jones, 21 January 2017
The Trudeau Liberal government intends to deepen Canada’s military-strategic cooperation with Washington so as to ensure privileged market access for Canada in a Trump-led America.
By Nick Beams, 19 January 2017
Trump’s remarks to the Wall Street Journal were in line with the anti-China rhetoric that marked his election campaign.
By Shelley Connor, 16 January 2017
While the media glowingly reviews Obama’s legacy over the last eight years, sobering reports point to significant declines in living standards among young people.
In wake of Trump election victory
By Gabriel Black, 16 January 2017
Bank share prices and profits have surged in anticipation of the installation of Trump, who has packed his cabinet with Wall Street insiders and pledged to remove regulations.
By Jerry White, 9 January 2017
The Ohio-based retailer The Limited’s decision to close 250 stores and eliminate 4,000 jobs follows store-closing announcements by Macy’s and Sears.
By Tom Hall, 7 January 2017
The December jobs report for the Bureau of Labor Statistics (BLS) showed that the American economy added 156,000 jobs last month, less than the 175,000 expected by economists.
By Niles Niemuth, 6 January 2017
The closings and layoffs are an indication of the actual state of the economy, more than seven years after the beginning of the supposed economic “recovery.”
By Nick Beams, 6 January 2017
The Federal Reserve open market committee forecast a gradual rise in interest rates, and made clear it would take action to prevent wages from rising substantially.
By Nick Beams, 29 December 2016
US billionaires alone have increased their wealth by $77 billion due to the rise in the stock market since the election of Trump less than two months ago.
By Nick Barrickman, 22 December 2016
Recent reports reveal that homeownership levels for young people have dropped to record lows in the years following the 2008 financial crisis.
By Jerry White, 21 December 2016
In its latest layoff announcement, the largest US automaker said it would eliminate the second shift at its Detroit-Hamtramck assembly plant, wiping out 1,200 jobs.
By Barry Grey, 21 December 2016
The American corporate elite anticipates that Trump will remove all constraints on its ability to plunder American society for personal gain.
By Barry Grey, 15 December 2016
Despite the Fed’s pledge to keep interest rates below previous norms, there were indications that, in the face of Trump’s inflationary policies, it could move quickly in the opposite direction.
By Niles Niemuth, 12 December 2016
It is the social catastrophe, rooted in the decline of American capitalism, that underlies the political crisis of both big-business parties and will lead to immense social convulsions.
By Nick Beams, 12 December 2016
The chief component in the rise in the Dow over the past month has been a 33 percent surge in shares of Goldman Sachs, accounting for 29 percent of the stock index’s ascent.
By Bill Van Auken, 5 December 2016
The legislation, which won overwhelming bipartisan approval, also bars the shutdown of the American prison camp at Guantanamo Bay, Cuba.
By Joe McGee, 5 December 2016
The state’s most vulnerable residents will be hit with an $11 million cut in public schools and a supposed one-time reduction of $25 million to Medicaid.
By Niles Niemuth, 3 December 2016
Even as the official unemployment rate continues to fall, wage growth remains limited and the labor force participation rate for working-age adults is far below what it was before 2009.
By Nick Beams, 24 November 2016
Trump’s agenda for the US economy bears a striking resemblance to his own business operations: a mixture of tax evasion, swindling and profit-gouging.
By Gabriel Black, 22 November 2016
The Pension Benefit Guaranty Corporation’s annual report points to the growing danger of a general collapse in the US pension system.
By Nick Beams, 19 November 2016
The rise in interest rates and US bond yields could have major international implications, particularly for emerging markets.
By Nick Beams, 11 November 2016
The sharp rise in stock prices is being driven both by Trump’s pro-corporate policies and the support he has received from the Democratic Party establishment.
By Nick Beams, 10 November 2016
After initial fears of a market plunge, Wall Street reached near-record highs as investors decided that Trump’s policies could provide a road to increased wealth.
By Barry Grey, 5 November 2016
The decline in the official unemployment rate to 4.9 percent was not the result of workers joining the labor force and finding jobs, but the departure of 425,000 more working-age Americans.
By Nick Beams, 3 November 2016
The US Federal Reserve kept interest rates on hold amid continuing uncertainty about the direction of policies in Europe and Japan.
By Barry Grey, 29 October 2016
The extraordinary level of mergers and the scale of the combinations are expressions of economic stagnation and the growth of financial parasitism.
By Genevieve Leigh, 29 October 2016
Up to 162 million individuals in the US and the EU work as contractors.
By Barry Grey, 24 October 2016
If the merger goes through, this quasi-state entity will be in a position to directly control the content of much of the news and entertainment accessed by the public.
By Nick Beams, 17 October 2016
A conference convened by the Boston Federal Reserve revealed that neither the Fed nor bourgeois economics in general has an answer to the stagnation of the US and global economy.
By Nick Beams, 5 October 2016
The International Monetary Fund has warned of a “deflationary trap” where further cuts in interest rates cannot provide a stimulus to the world economy.
By Nick Beams, 29 September 2016
Both the World Trade Organisation and the International Monetary Fund warned of an increase in protectionist measures alongside a fall in the rate of world trade growth.
By Jessica Goldstein, 29 September 2016
The announcement of mass layoffs at the largest employer in the US comes amid a wave of cuts in the retail industry.
By Nick Beams, 27 September 2016
The turmoil surrounding Deutsche Bank is only the sharpest expression of a crisis gripping the whole of the European banking system.
By Douglas Lyons, 26 September 2016
A recent report underscores the economic decline workers have experienced over the past half century while the super-rich carried out a “radical redistribution” of wealth.
By Nick Beams, 22 September 2016
Global stocks rallied as the Organisation for Economic Co-operation and Development revised down its global growth estimate, citing weak trade growth and lower productivity.
By Nick Beams, 20 September 2016
Amid signs of increased volatility, the Bank for International Settlements issued another warning that financial markets rely too much on central banks.
By Gabriel Black, 17 September 2016
Carrie Tolstedt has made tens of millions overseeing massive consumer fraud as Wells Fargo’s Vice President for community banking.
By Patrick Martin, 15 September 2016
The Obama administration and the Democratic Party have seized on the latest Census Bureau report as support for their bogus claims of a genuine economic recovery.
By Nick Beams, 15 September 2016
The ensuing eight years have shown that the financial crisis of 2008 was not a conjunctural downturn but a breakdown in the very foundations of the global capitalist economy.
By Nick Beams, 13 September 2016
There are warnings that the rise in bond prices could turn into a rout with significant losses for investors.