The 2008 Wall Street crash resulted from a combination of unrestrained greed and political contempt for government regulators who might have prevented the devastation. In The Big Short, the tale is told from the perspective of a few players who saw the inevitable and made money on the crash, writes James DiEugenio. If you read Michael Lewis’s book The Big Short or see the movie by the same na [...]

The goal? A total revamp of the economic system that sidelines the interests of the majority. The time? Now. And the stakes couldn't be higher. At issue is the global inequality crisis that is "spiraling out of control," an alliance of nine groups including Amnesty International, Association for Women's Rights in Development, Greenpeace, International Trade Union Confederation, and Oxfam says, [...]

The US economy is generating breathtaking wealth for an elite minority of the population at the expense of millions of people now tumbling through the gaping cracks of the system. So why do we continue to watch the painful spectacle year after year? America’s once-glorified middle-class is on its way to being relegated to the history books; an artifact of a bygone era when good-paying jobs, c [...]

Sure, last year was the first pre-election year stock market loss since the Great Depression. And admittedly, last week was the worst opening week of any year … EVER. But that’s not the big news. The bigger news is that the Baltic Dry Index has crashed. [...]

America presents itself to the world as “the land of the free” but – for the vast majority – it is a place of enslaving indebtedness, a reality for much of “the 99%” that has deep historical roots hidden or “lost” from our history, as Jada Thacker explains. Since its center-stage debut during the Occupy Wall Street movement, “the 99%” – a term emblematic of extreme economi [...]

US stocks tumbled after China's stock market crashed seven percent overnight on Thursday and crude fell to the lowest level in more than 12 years. In the recent four days, the Dow Jones index has plummeted 911 points, or more than five percent so far in 2016, making it the worst four-day percentage loss to start a year on record since 1897. [...]

Social movements calling for raising the minimum wage to $15/ hour with yearly adjustments for increases in the cost of living deserve support. However, earning $15/ hour will not guarantee a decent standard of living. An individual working forty hours a week at $15/ hour for an entire year earns $31,200, an income that is more than two and a half times the 2014 official poverty threshold of $1 [...]

A few months ago, entrepreneur Charles Devenish contacted me to tell me about his plans to develop various mining enterprises across India. He spoke about the massive amounts of untapped mineral resources lying beneath India that is just lying there and has been for a long time. [...]

Activists who think that Ukraine’s 2016 budget screams death to the agricultural sector have brought a dead pig in a coffin to the Verkhovna Rada building in Kiev and held a mock funeral ceremony. The angry protesting farmers and their supporters demand to keep a simplified tax system and special VAT rules for the agricultural sector in 2016, something the announced budget lacks as Ukraine ha [...]

Patrick Schmidt was unemployed and living in California when he bought an old school bus for $4,500 in March. He drove it to Vegas where he and his father renovated it into a home on wheels. They spent $9,000 to turn the bus into a house, before Patrick took it for a spin all the way to Florida, traveling through 30 states. [...]

As a way to improve living standards and boosts its economy, the nation of Finland is moving closer towards offering all of its adult citizens a basic permanent income of approximately 800 euros per month. The monthly allotment would replace other existing social benefits, but is an idea long advocated for by progressive-minded social scientists and economists as a solution—counter-intuitive [...]

About 565,000 people were homeless in the United States, according to a one-night federal survey. While this is a two percent drop from 2014, major cities like New York, Seattle and Los Angeles continue to battle rising homelessness. The US Department of Housing and Urban Development's 2015 Annual Homeless Assessment Report to Congress found that of the 565,000 homeless counted during a point [...]

Overwhelmed by the city’s growing homeless population, which has increased by 12 percent in just two years, and facing an increase in complaints from neighborhoods about encampments, the Los Angeles City Council has declared a “shelter crisis.” The measure was adopted by the Los Angeles City Council on Tuesday in a 14-0 vote. [...]

Another deep cry, followed by a shrug. The world is at war, at war, at war. But it only hurts them, the helpless ones, the anonymous poor, who absorb the bombs and bullets, who bury their children, who flee their broken countries. Sixty million people have been displaced by the current wars, the highest number of uprooted since World War II. But who cares? [...]

Plagued by wars and terrorism, the world is facing another scourge – one that concerns everyone. The wealth inequality in society has reached staggering heights, with scholars predicting that by next year, half of the world’s riches will be in the possession of just one percent! Is there a chance to turn this trend back? Why has this issue become so pressing? And finally, what is there for [...]

A wing of Greece's anti-austerity Syriza party is eyeing a plan to default on government debt and replace the euro with its own national currency in case negotiations on a bailout with its creditors fail, media have reported. The plan envisions a default similar to the one implemented by Iceland during the 2008 financial crisis, along with the nationalization of the Greek banking system. [...]

Some 17 million elderly Americans are in need of government-funded meal services, but 90 percent of them don't receive it, according to a new report by the Government Accountability Office. About 83 percent of those adults in need are food insecure. “An estimated 90 percent of low-income older adults do not receive meals services like those funded by Title III programs, according to our analy [...]

Britain has been labeled the "European capital of inequality" after a report found it is the most unequal country in the EU. As part of a progressive study, the European Foundation for the Improvement of Living and Working Conditions (Eurofound) analyzed wages across the EU. [...]

A blogger gave a homeless guy $100 – and filmed an unexpected twist, as the man decided to help others with the money. The video went viral, and a crowdfunding campaign to get the homeless man back on his feet has raised over $94k and counting. The experiment began with Los Angeles-based video blogger Josh Paler Lin giving a homeless man named Thomas $100 with no strings attached. [...]

Hope is a strange beast. Without it life becomes devoid of meaning. Without meaning, existence becomes a chore. Europe's youth lack hope, as an entire generation become victims of political ineptitude and older leaders who simply don't seem to care. Generational struggles have always existed, and angry kids decorated them. From James Dean’s red-jacketed firebrand in ‘Rebel Without a Cause� [...]

Six years after the Lehman disaster, the industrialized world is suffering from Japan Syndrome. Growth is minimal, another crash may be brewing and the gulf between rich and poor continues to widen. Can the global economy reinvent itself? A new buzzword is circulating in the world's convention centers and auditoriums. It can be heard at the World Economic Forum in Davos, Switzerland, and at the [...]

The widening gap between America's richest and the middle and working classes is unsustainable and is unlikely to improve a survey released on Monday by the Harvard Business School has found. The study which is called “an economy doing half its job” said that while large American companies were showing signs of recovery and were maintaining their competitive edge on the world stage, many mi [...]