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Economy

Global recession within less than a year if Trump escalates trade war – Morgan Stanley

The worsening trade conflict between the world’s two largest economies, the United States and China, could send the global economy into recession within three fiscal quarters, research by investment bank Morgan Stanley has found.

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US trade deficit soars to decade high of $621 billion despite Trump pledge to bridge the gap

Despite the trade war against China and numerous import tariffs imposed on a number of countries, the US trade deficit hit a 10-year high of $621 billion last year, the US Commerce Department reported.

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‘Stupid economics’: Attack on Huawei tells world to avoid doing business with US – Prof. Wolff

The US has underestimated the consequences of the attack on Chinese telecom giant Huawei as it sends a strong signal for the rest of the world to avoid dealing with such an unstable partner, professor Richard Wolff believes.

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Washington and Wall Street wake up to the reality that Beijing is happy to walk away

As Wall Street reels from the shock of a trade war exploding to new heights in the form of tariffs and counter tariffs, there’s another reality that is setting in — that China seems happy to walk away from trade talks.

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Trump changes on poverty in US are like re-defining ‘drowning person as NOT drowning’ – Lee Camp

The Trump administration wants to redefine the poverty level, which would kick hundreds of thousands with marginal incomes off welfare, while simultaneously reducing poverty rates in America.

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‘A Society in Trouble’: US Jobs Report Reveals Economy in ‘Extreme Difficulty’

All things considered, politically and economically, the US economy isn’t doing as well as mainstream media would like Americans to think, and it couldn’t be clearer when reviewing the US Labor Department’s latest report on unemployment, Dr. Richard Wolff, economist and professor at the New School University, tells Sputnik.

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Seattle Is Dying: Drugs And Homelessness In Seattle

KOMO’s Eric Johnson explores the impact the drug and homelessness problem is having on the city and possible solutions in this documentary titled, “Seattle is Dying.” “Let me ask you something. What if Seattle is dying and we don’t even know it?” Johnson asks in the introduction. “This story is about a wave of seething […]

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EU Reveals List of $20 Bln of US Goods Under Threat of Tariffs Amid Boeing Row

Last week, US trade authorities published a preliminary list of EU products which could face additional duties in retaliation to EU subsidies to Airbus. The EU, in turn, stated on Tuesday that it will release on Wednesday a list of products that might face new duties over US state subsidies to aircraft manufacturing giant Boeing.

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Economic recovery talk is smoke & mirrors as corporate debt bubble ready to bust – Richard Wolff

Low interest rates allowed companies to borrow money at no cost. But instead of increasing productivity, the financing was used to drive up the cost of shares, setting the stage for imminent collapse, Prof. Richard Wolff told RT.

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‘Largely Political’: US Bureau of Labor Statistics Data ‘Not Hard Science’

With the US economy having only created 20,000 new jobs in February, compared to the expected 180,000 jobs, US and global economic growth are continuing to slow down due to tensions in international trade between major economies, financial policy analyst Daniel Sankey told Sputnik Tuesday.

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Pompeo seeks to recruit top world oil execs to promote US foreign policy

US Secretary of State Mike Pompeo has sought to recruit some of the top oil industry guns to serve as Washington’s foreign policy tools to crack down on “bad actors” like Venezuela, Russia and Iran.

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Handouts for the rich? ‘Hypocrite’ Trump called out for socialism double standard (VIDEO)

Donald Trump has repeatedly vowed to safeguard the United States from the purported evils of socialism – but critics note that the US president is fine with giving government subsidies to the rich and well-connected.

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Century behind Europe: World Bank says Ukraine needs up to 100 yrs to reach German growth

It will take Ukraine between 50 and 100 years to get to the same level of economic development as its European partners, the World Bank has revealed, as it called on Kiev to boost reforms further.

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Inequality at record levels as new billionaire emerges every 2 days – Oxfam

The gap between the super-rich and the rest of the world has never been wider, with 26 people now owning the same amount of wealth as 3.8 billion of the less privileged, global charity Oxfam said in a new report.

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Economic boom for whom? Keiser Report examines America’s disappearing middle class (VIDEO)

The US economy is booming – but fewer and fewer are reaping the benefits. The Keiser Report crunched the numbers behind America’s dwindling middle class, and warned that the country’s young are in for a rough, debt-ridden future.

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