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Economy

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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Richard Wolff Tells the Truth About the Chinese Economy

Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. Earlier he taught economics at Yale University (1967-1969) and at the City College of […]

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Chinese investment in US plunges 83% amid simmering trade war

Chinese investments in North America and Europe fell by 73 percent last year as a result of tightened US scrutiny of foreign takeover deals and Beijing’s restrictions on outbound investments. Data from law firm Baker & McKenzie showed that Chinese foreign direct investment (FDI) flows into the United States have also turned negative, falling to […]

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Russia’s trade with China surges to more than $107 billion

Trade turnover between Russia and China soared by nearly 30 percent in 2018, reaching a record number of $107.06 billion, according to the latest report released by China’s General Administration of Customs (GAC). The agency noted that last year Russian imports of Chinese goods increased by 12 percent to $47.98 billion.

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Chris Hedges: Americans Are Living a Fantasy – The Illusion of Love, Wisdom, Happiness

A postliterate society is a hypothetical society in which multimedia technology has advanced to the point where literacy, the ability to read or write, is no longer necessary or common. The term appears as early as 1962 in Marshall McLuhan’s The Gutenberg Galaxy. Many science-fiction societies are postliterate, as in Ray Bradbury’s Fahrenheit 451, Dan […]

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‘An Economy In Extreme Difficulty’: US Jobs Report Hides Economic Truths

Although the latest US jobs report did indicate that 312,000 new non-farm jobs were added to the economy in December of 2018, it should by no means suggest that the US economy is functioning in a perfect manner, Richard Wolff, professor of economics emeritus at the University of Massachusetts, Amherst, told Sputnik.

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Gold hits 6-month high as Apple wreaks havoc in global markets

Gold has reached a more than six-month peak rising above $1,300 as investors rushed to seek refuge in the metals after iPhone maker downgraded its revenue forecast and amid fears of a global economic slowdown. The precious metal futures climbed in a second straight session on Thursday after US stocks saw the worst start of […]

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US debt soars nearly $1.4 trillion from last Christmas, rising $44,000 per second

The year-on-year surge in US sovereign debt has totaled $1.37 trillion, the latest data released by the US Treasury Department shows. The national debt reportedly rose to $21,863,635,176,724.12 as of December 20 of the current year compared to $20,492,874,492,282.58 on December 25, 2017.

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