The Economy

“Governments Don’t Rule the World; Goldman Sachs Rules the World”

In an interview which shocked the BBC News anchor, “independent trader” Alessio Rastani gave a very frank appraisal of his perspectives for the world economy. “This economic crisis is like a cancer; if you just wait and wait hoping it is going to go away, just like a cancer it is going to grow and it will be too late,” he said, adding that governments would not be able to fix the economy.

Can the Gold Standard Save Capitalism?

Gold BarsRepublican presidential candidate Ron Paul, among others, has advocated a return to the gold standard for U.S. currency. He is worried about inflation and the continued devaluation of the U.S. dollar. Capitalist politicians like Paul claim if only the dollar were fixed to the price of gold, all would be well in the economy. This actually brings up several questions. Such as, what is money in the first place? Is American money, since it is “not backed by gold,” worthless?

What Does the Bi-Partisan Debt-Ceiling "Compromise" Mean for Workers?

Debt Ceiling DebateA deal to raise the debt ceiling has now been reached, after weeks of incredible fear-mongering on the part of both bosses’ parties and Wall Street, and will reach the President’s desk by the deadline on August 2nd.  The contents of the final agreement remain rather vague, but the broad outline is enough to make clear what it means for workers in the U.S.  Did it have to be this way? Why didn’t the Democrats put up a fight?

Should We Pay for the Crisis?

 

 

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The World Bank, IMF, and EU are subjecting Greece to the most shameless blackmail. They say: either accept draconian cuts in your living standards, or else we will refuse to hand over the next tranche of 12 billion euros.