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Beiträge, die mit Finance getaggt sind
Bernie Sanders: “It should come as no great surprise that a Democratic Party which has abandoned working class people would find that the working class has abandoned them"
Read more: https://t.co/X0WSzeDPSG
#news #finance #economics #stocks #options
Read more: https://t.co/X0WSzeDPSG
#news #finance #economics #stocks #options
Bernie Sanders: “It should come as no great surprise that a Democratic Party which has abandoned working class people would find that the working class has abandoned them"
Sen. Bernie Sanders (I-Vt.) on Wednesday accused the Democratic Party of neglecting the priorities of the working class, calling it the primary reason for their loss of the White House and Senate.Unusual Whales
Germany’s Merz urges Scholz to drastically move up timeline for snap election https://www.politico.eu/article/germany-friedrich-merz-olaf-scholz-move-up-timeline-snap-election-collapse-coalition/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication #U.S.elections #Parliament #Education #Elections #Transport #Industry #Military #Politics #Defense #Finance #Markets #Tariffs #Crisis #Policy #Media
Germany’s Merz urges Scholz to drastically move up timeline for snap election
Friedrich Merz, the leader of the center-right Christian Democrats and the probable next chancellor, demands a vote of confidence within days.Nette Nöstlinger (POLITICO)
Jörg Kukies to become German finance minister – reports https://www.politico.eu/article/jorg-kukies-to-become-german-finance-minister-reports/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication #FinancialServices #Germanpolitics #CentralBanker #Investment #Finance #Markets #Policy #Banks #Media
Jörg Kukies to become German finance minister – reports
Chancellor Olaf Scholz is now leading a minority government until a confidence motion on January 15, with an election expected by March.Johanna Treeck (POLITICO)
World’s top 1% own more wealth than 95% of humanity, as “the shadow of global oligarchy hangs over UN General Assembly,” says Oxfam.
https://www.oxfamamerica.org/press/press-releases/worlds-top-1-own-more-wealth-than-95-of-humanity-as-the-shadow-of-global-oligarchy-hangs-over-un-general-assembly-says-oxfam/World’s top 1% own more wealth than 95% of humanity, as “the shadow of global oligarchy hangs over UN General Assembly,” says Oxfam
Over a third of world’s biggest 50 corporations —worth $13.3 trillion— now run by a billionaire or has a billionaire as awww.oxfamamerica.org
Yogthos (@yogthos@social.marxist.network)
84 Posts, 1.3K Following, 217 Followers · A sentience trapped in a prison of meat. Made in USSR. Capitalismus delendum est! ☭Yuggoth
Climate risk assessment report warns of threats to healthcare, finance and infrastructure https://www.abc.net.au/news/2024-03-12/federal-climate-risk-assessment-report-released/103575542 via @ABCaustralia #climate #health #finance #infrastructure #auspol #auslaw
Climate risk assessment report warns of threats to healthcare, finance and infrastructure
Rising temperatures and extreme weather events will heap even more stress on sectors already under severe strain unless effective mitigation strategies are developed, according to the government's climate risk assessment report.Nick Grimm (ABC News)
On the monumental failure of the U.S. military
In 2022, the Pentagon only managed to account for 39 percent of its $3.5 trillion in assets. With this failure, the Pentagon has kept its spot as the only US government agency to have never passed a comprehensive audit. It also highlights the US war department's persistent lack of internal financial control, its poor budget estimations and rampant overspending.For sixth year, Pentagon fails to account for over $3T
A clear example of this is the F-35 program, which has gone over its original budget by $165 billion to build a plane tasked to perform many different tasks, none of which it does well.The Pentagon is slated to buy more than 2,400 F-35s for the Air Force, Marines, and Navy. The estimated lifetime cost for procuring and operating these planes – $1.7 trillion – would make it the Pentagon’s most expensive weapons project ever.
A 2021 Pentagon assessment of the F-35 found 800 unresolved defects in the plane.
Let's remember Zumwalt, it's a total failure there too.
+ U.S. Air Force Secretary Warns Development of Urgently Needed ICBM ‘Struggling’: Program Collapse Possible
With such weapons, the US military is very lucky that the "evil" Russians haven't destroyed them yet.
#us #USA #american #military #warmongers #deepstate #pentagon #fail #weapons #nato #western #economy #money #finance
For sixth year, Pentagon fails to account for over $3T
As the White House requests over $100 billion for wars in Israel and Ukraine, the Defense Department continues to operate with little to no oversight of its spending practicesThe Cradle
On the inevitable end of capitalism
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As Karl Marx (1818–1883) wrote, ‘the apologists content themselves with denying the catastrophe itself and insisting, in the face of their regular and periodic recurrence, that if production were carried on according to the textbooks, crises would never occur’.
There is an interesting anecdote that sheds light on this divorce between theory and reality in mainstream bourgeois economics. After the 2008 global financial crisis, Queen Elizabeth II of the United Kingdom visited the illustrious London School of Economics and Political Science (LSE). Like a naïve child asking the most untoward question in polite company, she asked the eminent economists gathered for the occasion – among them professors at the most prestigious universities, government advisers, and pundits for highly regarded organs of the financial press such as The Economist and Financial Times – the following question: ‘Why did no one see it coming?’. There was no satisfactory reply. The duty of these eminent economists, up until the 15 September 2008 collapse of Lehman Brothers, had been to defend the impeccably rational functioning of markets in the face of criticism from their hapless less orthodox colleagues, choosing not to reply to Marxist criticism so as not to lend it legitimacy.
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The more finance oils the machinery of a moribund economy, the more debt accumulates. In the end, financial flows reach a magnitude that is disproportionate when compared to the productive base that has given birth to all the credit and market capitalisation that have been amassed. Thus, the later the crash, the worse the outcome. This is what happened in 2008 and – based on an examination of the economic data in the years since – will, in all probability, repeat itself again in the short- or medium-term.
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However, this creates a contradiction for capital. Most of the time, the advancement in techniques involves the incorporation of new machines and more expensive materials into the production process. Thus, constant capital – i.e., the plant, machinery, other equipment, auxiliary elements such as energy, and other similar expenses – increase in relation to living labour. What Marx calls the technical composition and the organic composition of capital (the difference need not detain us here), i.e., the ratio of constant capital to living labour, increases as well. However, the basic Marxist proposition concerning value posits that the source of all value, and therefore of surplus value, is living labour. As capital strives to increase the amount of surplus value, it is thereby ejecting from the production process the very source of value, i.e., labour.
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We have thus come to the end of a rather long journey of explaining the mechanism behind crises and, by extension, the current crisis. But pressing questions remain: why are there depressions? Why have depressions become the most salient but also the most destructive form of capitalist crises over the last 150 years? To answer these questions, we will look to Marx’s grand vision of historical change, of how humanity moves from one mode of production, one socioeconomic formation, to another.
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At the beginning of the passage from Capital quoted above, Marx emphasised the fact that the entire process of capital accumulation advances through ‘the immanent laws of capitalistic production itself’. In Capital, Marx traced the historical development of capitalism and established the laws that determine how a society based on capital functions. That is why Marx constantly talks of ‘necessity’: once established, capitalism necessarily proceeds towards its own demise on the basis of its own laws. In other words, through its very laws, capitalism generates, within its bosom, the forces that will destroy it. The effects of these laws may be mitigated, temporarily arrested, or even reversed for a certain period. However, as long as capitalism exists, as long as it develops according to its own inherent laws, at a certain stage of its development, it will undermine its own existence. Capitalism, in other words, creates the historical conditions for its own demise.
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Silvio Ghesell is mentioned in the article, but he is unnecessarily overlooked.
See more: Freigeld - free money
#freigeld
The World in Economic Depression: A Marxist Analysis of Crisis https://thetricontinental.org/dossier-notebook-4-economic-crisis/
The World in Economic Depression: A Marxist Analysis of Crisis
Español PortuguêsNotebook no. 4 Notebook no. 4 was researched and written by E. Ahmet Tonak (an economist at Tricontinental: Institute for Social Research) and Sungur Savran (an instructor at Istanbul Okan University and editor of Devrimci Marksizm a…Amilcar (Tricontinental: Institute for Social Research)
Australia to re-join UN's green climate fund after Morrison government withdrawal https://www.abc.net.au/news/2023-10-05/australia-rejoins-united-nations-climate-fund/102938288 via @ABCaustralia #climate #finance #GreenClimateFund
Australia to re-join UN's green climate fund after Morrison government withdrawal
After Scott Morrison withdrew Australia from the United Nations-led Green Climate Fund in 2018, the federal government commits to rejoin the scheme, seeking a seat at the table to influence international climate projects.Tom Lowrey (ABC News)
About Capitalists' worst nightmare
In fact, what’s startling for people used to the cronyism of the West, is that if you click through each member of the Bank of Russia’s board of directors, you’ll note that all, save one, are career state bankers, economists, or some type of career state employees. Meaning they’ve worked in various positions in the Bank of Russia or other state institutions for the majority of their careers rather than in private hedgefunds, investment firms, corporations, and the like, as is so common in the U.S. Federal Reserve system.Russia's CBDC - Exploring the Truth of Russia's Central Bank
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It’s clear that the most epochal global seachange that could happen in our lifetimes would be the dissolution of the Western fiat banking system which has controlled the globe for hundreds of years, and on which the pillars of the most toxic forms of crony capitalism were built. But also specifically, the dollar as reserve currency and its attendant ‘exorbitant privilege’, which has fueled the unipolar model of the world for decades, unleashing a wave of unfettered imperialism that drowned the developing world in oceans of blood, felled countries and continents alike, turning them into broken, impoverished, lawless slave-pits—like for example Libya, and many others.
As an appetizer:
THE MERCHANT OF VENICE by William Shakespeare
#money #finance #banking #russian #economy #Russia #USA #us #fed #rothschild #western #capitalism #imperialism #globalism #wef #usury #shakespeare
Russia's CBDC - Exploring the Truth of Russia's Central Bank
Recently I’ve gotten a lot of requests to discuss Russia’s new digital Ruble, signed into law by Putin on July 24.Simplicius The Thinker (Simplicius's Garden of Knowledge)