Search Results for: austerity

Spinning bad financial news into good – Paul Craig Roberts

unemployment numbers

Friday’s payroll jobs report says that 96,000 new jobs were created in August and that the unemployment rate (U.3) fell from 8.3% to 8.1%. As 96,000 new jobs are not enough to keep up with population growth, the decline in the U.3 unemployment rate was caused by 368,000 discouraged job …

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Leaked: Troika requires 6-day working week in Greece

A leaked email sent to the Greek Ministries of Finance and Labor from the Troika says Greek private sector workers should work six days a week and longer hours. The letter, which was published on August 31, shows that the Troika expects the Labor Ministry to implement a number of …

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Fiji ditches Queen’s birthday holiday

Queen

Former British colony Fiji has removed the British Queen’s birthday from its list of public holidays saying the occasion is unimportant and no more relevant. “The Queen’s birthday’s importance disappeared from Fiji when we became a republic and now our status is an independent nation,” Fiji Labour ministry spokesman Jone …

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Are we evolving beyond capitalism?

Evolving beyond capitalism

The red flags and marching songs of Syriza during the Greek crisis, plus the expectation that the banks would be nationalised, revived briefly a 20th-century dream: the forced destruction of the market from above. For much of the 20th century this was how the left conceived the first stage of …

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Ukrainian capital Kiev burning to the ground

Ukraine Kiev

[youtube height=”400″ width=”550″]http://www.youtube.com/watch?v=85WBb9xA9AI[/youtube]   At least 18 people have been killed in Kiev as the Ukrainian capital plunges back into chaos. Rioters have attacked police, seized buildings, torched vehicles, and burned tires. Seven policemen are among the dead, all of whom died from gunshot wounds. Follow RT’s LIVE UPDATES View …

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Iceland jails 26 bankers for a combined 74 years in prison

Iceland arrest the bankers jail

In a move that would make many capitalists’ head explode if it ever happened here, Iceland just sentenced their 26th banker to prison for their part in the 2008 financial collapse. In two separate Icelandic Supreme Court and Reykjavik District Court rulings, five top bankers from Landsbankinn and Kaupping — the two largest banks …

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A new run on the banks? Spaniards pulling cash out at record rates

bull bank run spain

Spanish consumers are pulling their cash out of banks at record levels, according to figures released on Tuesday. Private sector deposits fell by nearly 5 percent in July to €1.509, the Telegraph reported, citing European Central Bank data, as public confidence in the banking system reached all-time lows amid a worsening economic …

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Gambia sticks it to the Queen and quits the Commonwealth

Gambian President Yahya Jammeh

Gambian President Yahya Jammeh Gambia announced it is immediately leaving the Commonwealth of Nations, saying it will not be part of an “institution that represents an extension of colonialism.” “The general public is hereby informed that the government of the Gambia has left the Commonwealth of Nations with immediate effect,” the …

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Globalists maintain power in France with former Rothschild banker Macron

Macron globalists Rothschild banker France

Everything about France’s new president Emmanuel Macron suggests a theatrical production of hype and illusion. He is being “sold” to the masses as an “outsider” and “centrist”, a benign liberal. In reality, enter the economic hitman who will blow French society apart in the service of the oligarchy. At age …

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Australia’s looming private debt crisis

Money Australia

As household debt has boomed exponentially over the last two decades, the savings of the household sector has plunged. Australia’s private debt dynamics have been thoroughly explored elsewhere, but less well understood is the country’s position relative to the OECD and BRIC nations. Thankfully, the Bank for International Settlements (BIS) …

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ECB to launch €1.1 trillion of quantitative easing

ECB Mario Draghi

Mario Draghi, president of the European Central Bank, has announced that he will pump €1.1tn at a rate of €60bn a month into financial markets until September 2016, in an attempt to prevent the fragile eurozone economy from grinding to a halt. In a keenly anticipated announcement at the ECB’s headquarters in …

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Eurozone unemployment hits all-time high: 19 million out of work

Europe unemployment

People queue outside a government employment office in Burgos. Eurozone unemployment levels have hit 12 percent – the highest in the history of eurozone record-keeping, since the currency was launched in 1999. The average unemployment rate across the eurozone’s 17 constituent European Union countries rose from January’s initial 11.9 percent …

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Cyprus banks to remain shut until Tuesday amid bailout crisis

Protesters raise their open palms showing the word "No" during an anti-bailout rally in Nicosia

Banks in Cyprus will remain closed until Tuesday as the country tries to avert financial meltdown after rejecting the terms of a controversial bailout, turning instead to Russia for help. An official said banks, which been shut for days amid fears of a run on savings, will stay closed on Thursday …

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Eurozone unemployment hits record-high 11.9%

Europe starving

Unemployed workers wait outside a government job centre in Madrid. Unemployment has hit unprecedented levels across Europe, with youth joblessness particularly high, according to a new EU report. Spain was hardest-hit: Overall unemployment was measured at over 20 percent, and youth joblessness was over 55 percent. The number of those …

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Google, Starbucks, Amazon grilled over tax avoidance

Top US corporations faced tough questioning by British MPs who accused Google, Starbucks and Amazon of leaking tax revenues from the UK to tax havens abroad, labeling their actions as “immoral.” On Monday, lawmakers questioned the three business goliaths’ key executives on how exactly they managed to pay so little …

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Switzerland prepares for mass civil unrest in Europe

Fears over race wars, economic fallout prompt new military battalions. Despite being one of the most stable and economically vibrant countries in the world, primarily as a result of its refusal to join the Euro, Switzerland is preparing for mass civil unrest in central Europe that could spill over its …

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