Finance News

As the 1% reap 93 percent of the income gains from the recovery, we’re rapidly returning to pre-New Deal levels of inequality. March 11, 2012 "New Deal 2.0" — There was a brief debate focused on the following question: would the gains of the economy continue to accrue to the top 1% once the recovery started, or would they have a weak …

 Narrated by Matt Damon, Inside Job is the first film to expose the shocking truth behind the economic crisis of 2008. The global financial meltdown, at a cost of over $20 trillion, resulted in millions of people losing their homes and jobs. Through extensive research and interviews with major financial insiders, politicians and journalists, Inside Job traces the rise of …

Most oil sales throughout the world are denominated in United States dollars (USD). According to proponents of the petrodollar warfare hypothesis, because most countries rely on oil imports, they are forced to maintain large stockpiles of dollars in order to continue imports. This creates a consistent demand for USDs and upwards pressure on the USD's value, regardless of economic conditions …

 A little over a year ago on 1st November 2010 I wrote what I called “…a little bit of scurrilous speculation.”  In it I speculated that an unintended consequence of QE had been to spur several countries to think very seriously of how they could replace the dollar as their settlement currency for international deals. The Settlement Currency just means the currency …

The US has the world's biggest economy, the most influential culture, and the most potent military machine, with a budget that equals that of all other nations combined. It is the only power with a global project defended and supported by more aircraft carriers, Fortune 500 companies, and more successful media-tainment conglomerates than any other. But the last decade has …