Global slump: the trade and technology trigger by michael roberts

26 May 2019 — Michael Roberts

Despite all the optimistic talk by President Trump about the state of the US economy, the latest data on economic activity and industrial production suggest that America is joining Europe and Japan in a sharp slowdown as we enter the second half of 2019.  And this is at a time when the trade and technology war between the US and China has moved up another gear and so threatens to trigger an outright global recession before the year is out.

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Dossier 16: Resource sovereignty—the Agenda for Africa’s exit from the state of plunder

10 May 2019 —  Tricontinental: Institute for Social Research – MROnline

In May 2011, the International Monetary Fund (IMF) published a Working Paper by Burcu Aydin called ‘Ghana: Will It Be Gifted Or Will It Be Cursed?’ (WP/11/104). Oil had just been discovered off the shore of Ghana. This anticipated a bounty of revenue for the country. Aydin asks whether Ghana will face the ‘resource curse’. The resource curse – also known as the Dutch Disease – occurs where revenue from sale of this resource rushes into a country, appreciates the currency and causes a major crisis in other parts of the economy. Looking at 150 middle- and low-income countries, Aydin came up with a strong finding: ‘Results show that there is a poverty trap for poor resource-rich countries due to their low institutional quality’. Bad governance and poor macroeconomic management, Aydin suggests, diminish the possibility for the onrush of revenues from natural resources to enhance a country’s development. There is no mention, in the IMF’s Working Paper, of the other actors in the process – namely, the multinational companies that dominate the natural resource extraction business. The pro-corporate literature explains problems in the resource economy in two ways: 1) poor macroeconomic management that allows revenues to flood the economy and appreciate the currency, 2) bad governance because of corruption and theft by government officials.

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Why Venezuela’s People Are Suffering By Eric Zuesse

10 February 2019 — Strategic Culture Foundation

INTRODUCTION

The case that will be documented here is that Venezuela’s people are suffering from a tragic national situation which actually cannot be reversed by anything that’s within the power of Venezuela’s Government to do or to block. In order to understand this very unfortunate reality (if one wants to understand it), one must first understand the relevant parts of the broader situation in the world that affects Venezuela. What’s dooming the country isn’t merely a local situation, but instead is global and environmental. It also is economic, pertaining to the role that Venezuela is playing in the global economy. But the economic factor is definitely not of the kind that it’s commonly assumed and alleged to be. It is instead very different.

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Leaked Wikileaks Doc Reveals US Military Use of IMF, World Bank as “Unconventional” Weapons By Whitney Webb

8 February 2019 — Mint Press

This “U.S. coup manual,” recently highlighted by WikiLeaks, serves as a reminder that the so-called “independence” of such financial institutions as The World Bank and IMF is an illusion and that they are among the many “financial weapons” regularly used by the U.S. government to bend countries to its will.

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Report to Davos meeting points to deepening contradictions of global capitalism By Nick Beams

18 January 2019 — WSWS

The report prepared by the World Economic Forum (WEF) for its annual gathering in Davos, Switzerland, next week presents a picture of the ongoing disintegration of all the mechanisms—economic, political and ideological—that have served to sustain the global capitalist order in the post-war period.

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South Africa Searches for a “Financial Parachute”, A $170 Billion Foreign Debt Cliff Looms. IMF “Economic Medicine” By Prof. Patrick Bond

19 December 2018 — Global Research
Johannesburg – This week’s hush-hush visit by International Monetary Fund Managing Director Christine Lagarde to Pretoria (between stops in Ghana and Angola) is mysterious. In contrast to last week’s IMF press briefing claim – “Madame Lagarde will hold meetings with the authorities, as well as fairly extensive meetings with the private sector, civil society, academia, women leaders, and of course the media” – there’s a complete information void here, with no public events scheduled.

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Video: The Trail of the Troika

6 July 2015 — Youtube

What is happening in Europe in the name of the troika? A must-see for anyone who wants to understand the situation in Greece. The European Union and International Monetary Fund have lent more than 400 billion Euros to Greece, Portugal, Ireland and Cyprus to keep these countries solvent. The lenders granted enormous power to the three institutions of the so called troika: the IMF, the European Central Bank and the European Commission. Without any public accountability, the troika is forcing the crisis states to implement policies that are tearing the social fabric of their countries apart.

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The Real News Live-Streaming From Athens, Greece

17 July 2015 — The Real News Network

The Real News Live-Streaming From Athens, Greece

Dear Real News Viewers,

Tune in to our site right now to watch an exclusive Greece livestream of a panel featuring TRNN regulars Leo Panitch and Syrian MP Costas Lapavitsas.
This panel is part of three day conference in Athens, Greece called Democracy Uprising.
Click here to watch our stream

Syriza Betrays Greece’s No Vote: Why the Left Should Form a Popular Front Against the EU By Stavros Mavroudeas

17 July 2015 — Greanville Post 

Tsipras and his party have completed betrayed the Greek people and unleashed an unpredictable hurricane.

Tsipras and his party have completely betrayed the Greek people and unleashed an unpredictable hurricane

Thessaloniki.
On the 5th of July 2015 the huge majority of the Greek people (61%) rejected the insolent demands of the EU for the extension and deepening of the austerity and pro-capital restructuring policies in Greece. These demands were codified in the so-called Juncker Plan for Greece that set barbaric terms for the extension of the previous austerity program (the 2nd Economic Adjustment Program for Greece) in exchange for releasing much delayed tranches of the troika loans to Greece.

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