Economy

Last week’s repo meltdown points to 2008 financial crisis & may lead to new bank crashes – Keiser Report

Forecasting the imminent demise of European banks, an expert talks RT’s Keiser Report through last week’s repo market meltdown and what it may indicate. “The treasuries that settled last week didn’t go well on the funding market – the Fed had to step in and do a $75 billion repo facility on an overnight basis […]

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Suicides cost Japan’s economy $4bn annually

Japanese national broadcaster NHK has calculated the potential economic loss to the country from suicides at more than $4 billion a year. The calculation is based on 23,000 suicide victims in 2015, aged from 15 to 69 years, and had they lived and worked until their 70s.

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Major American Bank Forecasts Dollar’s Looming Demise Amid Power Shift to Asia

Several major world economies, including Russia and China, have recently been discussing ways to abandon the dollar in bilateral transactions. Notably, Russian President Vladimir Putin has accused the US of using the status of its currency as a tool of pressure against other states and said that it undermines global trust in the dollar.

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Huawei dominates global race to 5G, inking over 50 contracts despite US crackdown

Chinese telecom giant Huawei has secured more than 50 commercial contracts for 5G across the world, according to the company’s board member and Senior Vice President Catherine Chen, who was cited by news agency Xinhua.

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Special EU channel to allow trade with Iran, circumvent US sanctions is now operational – statement

A special trade channel that will allow European firms to bypass American sanctions on Iran is operational – that was the outcome of the meeting between the countries who signed the nuclear deal ditched by US.

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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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