The US economy and its financial structures have never recovered from the great financial meltdown of 2008 despite the passage of ten years. Little discussion has been given to the fact that the Republican Congress last year abandoned the process of mandatory budget cuts or automatic sequestration that had been voted in a feeble attempt…
Calling Donald Trump a bull in a china shop would be a kindness. His approach to foreign affairs has been at times a refreshing stick in the eye to the global post-WWII institutional order. But, in recent months it has morphed into something more dangerous. And his desire to solve the Gordian Knots of certain…
Do you have the nagging sense that our empire is in decline? If so, don’t be embarrassed by it. Historically speaking, we’re in very good company. Far larger and longer-lived empires than ours have come and gone over the millennia. This was hit home for me on a recent trip. I scored a major “dad win”…
What looked possible some years ago have with recent economic policy decisions turned into a realistic scenario: the United States face a technical default. The figures and forecasts published by the Congressional Budget Office (CBO) leave little doubt. Currently, net interest burden accounts for 1.6 percent of Gross Domestic Product (GDP) equal to 9.4 percent…
As Russia steadily slashes its military spending and announces cuts will continue for the next five years through 2022, the US is going in the other direction and shoveling ever more fantastic sums of money into the military and parasite defense corporations. (Around half of Pentagon budget now goes to contractors.) US Congress passed a $1.3 trillion…
Among Bloomberg’s many profitable activities there is a convenient Bloomberg Billionaires Index, which has just published its findings for 2017. It covers only the 500 richest people, and it proudly announces that they have increased their wealth by 1 trillion dollars in just one year. Their fortunes went up by 23 per cent to top comfortable…
