We are not being told the whole story about the crisis hitting the U.S. banking system. It is far deeper and more extensive than what is being reported in the big media. The following article a shortened adaptation adapted from that written by Ambrose Evan Pritchard (the Telegraph 2 May 2023). This adaption was published… Read More Over 2,000 US Banks Are Insolvent
By Joe Montero The British are in trouble. A new government under Liz Truss and Chancellor of the Exchequer (in other words the treasurer), Kwasi Kwarteng, has just handed down a mini budget. And it has caused a storm. It is a disaster such as that it is even dividing the ranks of the government and ruling… Read More Truss government budget to deliver the British hard times and trash the economy
By Joe Montero People have been saying that the economy is in strife for a long time, and along with the climate crisis, the rising cost of living that is making the headlines. Everyone feels it. No wonder this has shaped up at the centre of politics in Australia. We are told that this is… Read More Australia’s economy faces problems rooted in its structure
Richard D Wolf, professor of economics emeritus at the University of Massachusetts, wrote the following. It was first published by the Pressenza International Press Agency (6 June 2022). Inflation is on the rise and hurting many. Although Wolf’s alternatives to fighting this threat are within the context of the United Sates, they have universal application,… Read More There are better ways to stop inflation than by hiking interest rates
By Joe Montero Australia’s inflation rate is rising and set to rise further still. In the first three months of this year, it rose 5.1 percent, according to Jim Chalmers, the Treasurer of the newly elected Labor government. He has suggested that further interest rate rises are on the horizon. The Reserve Bank has not… Read More Australia’s inflation rate is rising and why this is happening?
Contributed A few days into the election campaign and two big issues are already being ignored, the falling share of wages and the even worse opposition faced by those trying to live on social security payments. If campaigning had been about people, surely, what determines the standard of living of every adult and child in… Read More Wages and social security justice should be at centre stage of election campaign
By Joe Montero A great deal has been written about where we might head to in the post pandemic world. Is it a return to the past or forward towards something new? The political elite wants to return to the past. This is nonsense. It won’t happen. The landscape has changed. How much, we don’t… Read More Grass roots politics