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Monday, 16 May 2016

Globalization Pushing Humanity to Brink


 

The Destabilizing Consequences of Globalization

It is not possible to coherently discuss the "New Normal" economy without discussing financialization--the substitution of credit expansion and speculation for productive investments in the real economy--and its sibling: globalization.

Globalization is the result of the neoliberal push to lower regulatory barriers to trade and credit in overseas markets. The basic idea is that global trade lowers costs and offers more opportunities for capital to earn profits. This expansion of credit in developing markets creates more employment opportunities for people previously bypassed by the global economy.




China April economic activity data disappoints, hiking recovery doubts

A woman stands on an overhead bridge near the construction site of ”Kaisa Plaza”, then named ”Changan No. 8” (L), on a hazy day in Beijing’s central business district in this July 28, 2012 file picture. China’s investment, factory output and retail sales all grew more slowly than expected in April, adding to doubts about whether the world’s second-largest economy is stabilizing. Growth in factory output cooled to 6 percent in April, the National Bureau of Statistics (NBS) said on Saturday, disappointing analysts who expected it to rise 6.5 percent on an annual basis after an increase of 6.8 percent the prior month. China’s fixed-asset investment growth eased to 10.5 percent year-on-year in the January-April period, missing market expectations of 10.9 percent, and down from the first quarter’s 10.7 percent. Fixed investment by private firms continued to slow, indicating private businesses remain skeptical of economic prospects. Investment by private […]


Hungry Venezuelans Hunt Dogs, Cats, Pigeons as Food Runs Out

Ramón Muchacho, Mayor of Chacao in Caracas, said the streets of the capital of Venezuela are filled with people killing animals for food. Through Twitter, Muchacho reported that in Venezuela, it is a “painful reality” that people “hunt cats, dogs and pigeons” to ease their hunger.  People are also reportedly gathering vegetables from the ground and trash to eat as well. The crisis in Venezuela is worsening everyday due in part to shortages reaching 70 percent. This to go along with the world’s highest level of inflation. The population’s desperation has begun to show, with looting and robberies for food increasing all the time. This Sunday, May 1, six Venezuelan military officials were arrested for stealing goats […]




Saudi Arabia and Bahrain See Low Oil Price Prompt Ratings Cut

Middle Eastern oil producers including Saudi Arabia and Oman had their ratings downgraded by Moody’s Investors Service because of a collapse in oil prices, according to a statement from the credit-ratings agency on Saturday. The long-term issuer rating on Saudi Arabia, the world’s biggest oil exporter, was downgraded to A1 from Aa3 as lower oil prices may lead to a “material deterioration” in the nation’s credit profile. Bahrain’s rating was reduced to Ba2 from Ba1 and Oman was cut to Baa1 from A3, while the outlook for crude exporters including Abu Dhabi, Qatar and Kuwait were negative. Brent crude, the global benchmark, is almost 40 percent lower than in November 2014, when Saudi Arabia led a decision by the Organization of Petroleum Exporting Countries to keep pumping to defend market share in the face of swelling global inventories. While demand from emerging nations such as India was spotted in […]
 bloomberg.com






The Numbers That Could Keep You Up at Night


After the 2008 stock market crash, Washington DC became even more insufferable than it already was. Its smug liberals kept congratulating themselves on saving America from an economic collapse, but new data shows they only postponed Judgment Day.

On Friday, several economic indicators sent a warning sign that the economic collapse is almost here. To put it mildly, the numbers don’t look good. They tell a story of an economy plagued by weakness and indecision.
Here are a few of the worst indicators:


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