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Chile: 50 years after the disgrace Neoliberalism at gun point

7 September 2023 - by Eric Toussaint, Roberto González Amador

The coup against the government of Chile’s constitutionally elected president Salvador Allende, which marks its fiftieth anniversary this year, brought to a brutal and violent stop the course of several Latin American countries towards welfare (...)
Éric Toussaint: “There are not enough leaders ready to stand up to debt creditors.”

1 September 2023 - by Eric Toussaint, Jorge Muracciole

The spokesperson for the Committee for the Abolition of Illegitimate Debt warns that in 2023-2024, “all records of fiscal adjustment in the Global South will be broken”. He also affirms that “the IMF is much stronger than it was two decades ago.” (...)
China: consumption or investment?

3 August 2023 - by Michael Roberts

In Q2 2023 the Chinese economy expanded by 6.3% year-on-year, up from 4.5% yoy recorded in Q1. Sounds strong, but quarterly growth was only 0.8%, slowing sharply from 2.2% qoq in the first quarter of 2023. And a reliable measure of economic (...)
The cost of living and profits

14 July 2023 - by Michael Roberts

The [latest employment report->https://www.oecd.org/employment-outlook/2023 from the OECD is a real eye-opener on the cost of living crisis and whether wage rises or profit rises have been the biggest contributor to the rise in inflation. On (...)
Solidarity with our comrade Jawad Mustaqbal

25 June 2023 - by ATTAC/CADTM Morocco

ATTAC CADTM Maroc Rabat 24 june 2023 Jawad Mustaqbal’s phone has been hacked, and he received threatening calls from unknown individuals who intend to tarnish his reputation, threaten his family, and attempt to extort him financially. They (...)
Ajay Banga, the World Bank and the India story...

22 June 2023 - by Sushovan Dhar

Ajay Banga, who brought KFC and Pizza Hut to India and made around INR 5.2 billion a day, took charge of the World Bank early this month. He has been greeted from all quarters. “The Board looks forward to working with Banga on the World Bank (...)
Deeper than ever, the crisis leaves capitalism out of breath

20 June 2023 - by Eric Toussaint

CADTM : Are we witnessing a crisis This is a major crisis of the globalized capitalist system, the worst crisis since those of the years 1914-1945 Éric Toussaint : Yes. All the warning lights are flashing: there is a very significant economic (...)
The two Bs on inflation

29 May 2023 - by Michael Roberts

A recent paper by mainstream heavyweights, Ben Bernanke (former Federal Reserve chief) and Olivier Blanchard (former chief economist at the IMF) has raised some eyebrows. Bernanke and Blanchard seek to argue that the inflationary spike in the (...)
Greece: another chapter

22 May 2023 - by Michael Roberts

The Greek election results validate Michael Roberts’ analysis and projections. Unfortunately, the right has triumphed because Syriza is not a real alternative [ed.]. Greece has a general election today. The conservative New Democracy party (...)
Debt : Eric Toussaint at Université Paris Cité on January 31, 2023

20 May 2023 - by Eric Toussaint

Eric Toussaint, spokesperson for CADTM International, spoke on the debt crisis and the global capitalist system at the Economic Policies for Global Transition (EPOG) seminars. The seminar was held at the Université Paris Cité on January 31, (...)
We still need a debt jubilee: 25 years on from the Birmingham human chain

19 May 2023 - by Tim Jones

Twenty years ago today, as a wide-eyed 16 year old, I went on my first ever protest. Travelling to Birmingham with a group from my church, we joined 70,000 others to surround the G8 summit, demanding debt cancellation for 52 impoverished (...)
The Fitch rating agency downgraded France’s rating.

France Shown Yellow Card

13 May 2023 - by Yvette Krolikowski

On Friday 28 April 2023, the Fitch financial rating agency downgraded France’s rating from AA to AA- with ’stable outlook’. The agency said, “Political deadlock and (sometimes violent) social movements pose a risk to Macron’s reform agenda and could (...)
A multipolar world and the dollar

24 April 2023 - by Michael Roberts

Christine Lagarde, the head of the European Central bank (ECB), made an important ‘keynote’ speech last week to the US Council of Foreign Relations in New York. It was important because she analysed recent developments in global trade and (...)
Banks on the Brink? The Origins, Nature, and Trajectory of the Crisis

19 April 2023 - by Ashley Smith, Michael Roberts

The banking industry has been beset by a series of failures, government bailouts, and takeovers. The crisis in these banks has sent stock markets around the world into gyrations. What caused all of this? Is this a passing crisis? What impact (...)
Well founded pessimism

17 April 2023 - by Michael Roberts

Only last February, I posted that there would be a ‘mild recession’ in US economic activity this year. And according to economists at the Bank of America, there are plenty of signals that suggest a recession in the US has not been avoided and (...)
May 1968 - March 2023!

27 March 2023 - by Yorgos Mitralias

At a time when those who declare, even among the French elites (!), that we are witnessing the emergence of a “new May 68” are multiplying, while noting that in the country now reigns .... “an insurrectional atmosphere”, one can now reasonably ask: (...)
ABC of Debt System

6 March 2023 - by Eric Toussaint

Abstract: This article argues that the indebted weaker countries are not the cause of sovereign debt crises and the outcomes of debt crises are directed by big banks and the governments that support them. It begins with a historical overview of (...)
The World Bank: a Critical Primer by Eric Toussaint - Part 2

15 February 2023 - by Samantha K.S

The second part of the discussion on the World Bank based on Eric Toussaint’s book, The World Bank: a Critical Primer
The World Bank: a Critical Primer by Eric Toussaint - Part 1

5 February 2023 - by Samantha K.S

An interesting discussion on the World Bank based on Eric Toussaint’s book, The World Bank: a Critical Primer
The Dakar Declaration – Pan-African cooperation & global solidarity

1 February 2023 - by Collective

Scholars and activists from Africa, Asia, Europe, and North America, came together to draft the Dakar Declaration last year. The declaration condemns the constraints to Africa’s economic and monetary sovereignty. Against the multifaceted crises (...)
Davos 23: going pear-shaped

23 January 2023 - by Michael Roberts

This week, the jamboree of the rich global elite of the World Economic Forum (WEF) has started again after the COVID interregnum. Top political and business leaders have flown in on their private jets to discuss climate change and global (...)
World Economic Forum plutocrats suffer vertigo on contemporary capitalism’s roller-coaster

17 January 2023 - by Patrick Bond

Part 1: The context of extreme financial devaluations The World Economic Forum is meeting in Davos this week. The gathering of many of the wealthiest corporate elites and state leaders compels consideration of directions global capitalist (...)
Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years

17 January 2023 - by Oxfam

The super-rich outstrip their extraordinary grab of half of all new wealth in past decade. Billionaire fortunes are increasing by $2.7 billion a day even as at least 1.7 billion workers now live in countries where inflation is outpacing wages. (...)
Forecast 2023: the impending slump

10 January 2023 - by Michael Roberts

At the end of every year, I attempt to make a forecast on what will happen in the world economy in the next year. Of course, forecasts are wrapped in error, given the many variables involved that drive economies. Weather forecasts are still (...)
The US rate of profit in 2021

20 December 2022 - by Michael Roberts

Every year, I analyse the US rate of profit on capital. This is because the US data is the best and most comprehensive to use and because the US is the most important capitalist economy, often setting the scene for trends in global capitalism. (...)