Despite the Trump administration’s frantic last-minute efforts to hammer the NAFTA agreement, the attempt failed within the US timeline, so the talks continue. Why is the revised deal so important to the White House?
Neoliberal economics is an essential part of The Matrix, the false reality in which Americans and Europeans live. Neoliberal economics permits an endless number of economic lies. Michael Hudson’s books provide an antidote.
Jeremy R. Hammond explains how the Federal Reserve System harms the economy by effecting a transfer of wealth upward, serving the interests of the political and financial elite at the expense of the rest of society.
Chinese investment in the US is slowing primarily because Chinese outbound investment (ODI) is slowing in general, due to a slowing economy, not because Trump has blocked some trade deals on the grounds of “national security”.
For almost a decade the economic policy of the US, Europe, UK, Canada, Japan has been directed to the support of the financial speculation that caused the 2008 worldwide economic crisis. Nothing has been done for the populations of the countries who experienced the crisis.
Today the labor force participation rate is the lowest since February 1978, reversing all of the gains of the Reagan years, and the Federal Reserve has used an increase in consumer debt to fill in for the missing growth in consumer income for so long that consumers have no more room to take on more debt.