Tag Archives: Economy and Finance

Europe Eyes Chinese Yuan as Future Reserve Currency

Europe Eyes Chinese Yuan as Future Reserve Currency
The ECB Governing Council will discuss the possibility during its meeting on October 15th. The decision will come amidst decelerating inflation in both Europe and Asia that has increased the risk of deflation in developed nations. A stronger dollar and falling commodity prices have placed the eurozone in a tricky situation in which their options for reserves are shrinking. Analysts believe the move will help offer greater liquidity between ... Read more

Coming Recession Being Caused Again By Big Finance

Coming Recession Being Caused Again By Big Finance
The essential point of both the China and USA Federal Reserve policy reversals of 2013-14—policy reversals that are now driving Latin America into recession—is that both policy shifts have their fundamental origins in the financial destabilization behavior of the global finance capital elite. The folks that gave us the 2008-09 financial crash and are in the process of creating yet another.  The shift by the US Fed is clearly a response to ... Read more

How Wall Street Really Is Failing The Planet

How Wall Street Really Is Failing The Planet
Investors are putting short-term rewards ahead of the long-term health of the planet. The International Energy Agency estimates that another $10.5 trillion will need to be invested in clean energy by 2030 to avoid raising the planet’s temperature by more than 2 degrees Celsius. If warming exceeds that level — or even if it falls short – it could have catastrophic, irreversible effects. Financing for fossil fuels snapped ... Read more

Unseen Toll: Wages of Millions Seized to Pay Past Debts

Unseen Toll: Wages of Millions Seized to Pay Past Debts
Above: Kevin Evans in his small one bedroom apartment in Springfield, Mo. Evans, who lost income and his home in the recession, is now having his wages garnished by Capital One after falling behind on his credit card payments. (Colin E. Braley/AP Images for ProPublica) A new study provides the first-ever tally of how many employees lose up to a quarter of their paychecks over debts like unpaid credit card or medical bills and student loans. ... Read more