Democracy At Work: Economic Update: Class Struggles Worldwide

Dec 16, 2024

Trump Is Threatening Europe With Tariffs. Is It Ready?

THE NEW YORK TIMES: The incoming president promised “tariffs all the way” unless Europe bought more U.S. oil and gas. European officials have no clear strategy for avoiding a trade war.

President-elect Donald J. Trump’s threats of tariffs on allies and adversaries alike have unsettled companies and governments across Europe, setting off a scramble for what they fear could be a trans-Atlantic trade war.

Their nascent plans, including a closely guarded effort at the top levels of the European Commission, appear to be more proactive than what they were the first time Mr. Trump took office. But any attempt to form a united front on trade could be hampered by the sclerotic politics across much of Europe.

The French and German governments both collapsed this month. Austria and Belgium are struggling to form governing coalitions long after their most recent elections.

And no clear consensus has emerged on how to respond to whatever Mr. Trump might have in store. Divisions are already emerging between officials who favor a strategy of retaliation if he tries to impose new taxes on European exports and those who favor negotiation. » | Jim Tankersley, Jenny Gross, Liz Alderman and Melissa Eddy | Reporting from Washington, Brussels, Paris and Berlin | Friday, December 20, 2024

Bank of England Holds Interest Rate at 4.75% but Warns of UK Stagnation Risk

THE GUARDIAN: Central bank downgrades growth forecast amid threat from budget fallout, rising inflation and Trump trade tariffs

The Bank of England has kept UK interest rates unchanged but warned Britain’s economy is on the brink of stagnation after Rachel Reeves’s budget as the world faces stubbornly high inflation and the risk of Donald Trump reigniting trade wars.

Holding interest rates at 4.75% in a widely expected decision, the central bank’s monetary policy committee (MPC) said on Thursday it had slashed its UK forecasts for the final three months of the year with a prediction of zero economic growth. The Bank had predicted growth of 0.3% as recently as November.

Highlighting the chancellor’s £40bn tax-raising budget, alongside rising geopolitical tensions and trade policy uncertainty after Trump’s November election victory, the MPC said growth was faltering while inflation risks remained. » | Richard Partington, Economics correspondent | Thursday, December 19, 2024

Robert Reich: Trump's Billionaire Cabinet Vs. Democracy

Dec 18, 2024 | Trump's second administration will be a government of, by, and for the billionaires. As Justice Louis Brandeis said, we can have great wealth in the hands of a few, or we can have democracy, but we can't have both.

The Truth Behind “Self-Made” Billionaires | Robert Reich

Sep 20, 2022 | Elon Musk’s father owned shares in an emerald mine in Africa.

Bill Gates’ mom helped Microsoft get a deal with IBM.

Jeff Bezos’ garage-based start was funded by a quarter-million dollar investment from his parents.

“Self-made billionaires” are a myth.


Tax these bastards! “Until the pips squeak!” – © Mark Alexander

Richard Wolff`s Warning:"It's Going To Get Worse and Worse..."

Dec 14, 2024

The Downfall of the West - La chute de l'Occident – Der Untergang des Westens

MARK ALEXANDER: America is nothing more than a plutocracy. Some call it an oligarchy. I prefer to call it a plutocracy. A plutocracy is a country ruled by the rich. And that is PRECISELY what America is. It pretends to be a democracy — a republic if you can keep it and all that crap — well, they haven’t kept it have they. Now, they will have one of the worst of all forms of government: rule by the superrich. The plutocrats are about to rule supreme. The little people there are about to become littler and even less important. The fabulously wealthy are about to become wealthier still. But hey! People with hundreds of billions deserve a few hundred billion more, don’t they? Otherwise, how the hell can we expect them to get by?

Trump is a cancer on the American body politic. Unfortunately, the cancer is metastasising throughout the western world. Trump’s plutocratic administration is going to be an object lesson to the rest of the world in how to enrich yourself and your buddies — and get away with it! And the Americans are stupid enough to put up with this CRAP! What they should be doing is taxing these people to bring down that horrendous national debt.

The West is broken — “BIGLY” — and it deserves the downfall that os coming to it. Who in his right mind would ever want to fight to preserve this ridiculous DISORDER? The West is RIPE for the TAKEOVER. It has LOST THE PLOT.

I am so glad that I am old enough to have experienced the West in the good times. I feel so sorry for the young people of today. They will never have a chance to witness how wonderful it was to be brought up in a sane world.

© Mark Alexander
All Rights Reserved

Rob Groves: Could This Be the End of Brexit as We Know It?

Dec 14, 2024 | Donald Trump’s re-election is already having a massive impact all over the world, and post-Brexit Britain faces a moment of reckoning when Napoleon Bona-spur’s America First philosophy is implemented by way of trade tariffs and foreign policy. And within the UK, the Brexit tide had already turned, just weeks after that fateful advisory referendum in 2016. But now, the public mood has shifted even FURTHER, with a clear majority now wanting European freedom of movement back, now they’ve seen Brexit do the exact OPPOSITE of what it said on the tin, by INCREASING immigration into the UK.

The Labour government is struggling to put forward a coherent policy on Brexit, and questions about rejoining the EU loom, even coming from previously pro-Brexit voices. Can it be that the UK is ready to attempt to end its self-imposed cultural exile and to try to undo the trade sanctions 52% of its electorate voted to impose on themselves?

Senator Bernie Sanders: I Will Be Voting NO on This Military Budget.

Dec 13, 2024 | I will be voting NO on this military budget. Tune in now to hear why:

UK’s Economy Shrinks Unexpectedly by 0.1% in October

THE GUARDIAN: GDP figures underline scale of challenge for Labour to get the economy growing

Britain’s economy shrank by 0.1% in October, underlining the scale of Labour’s challenge to get the economy growing.

Figures from the Office for National Statistics showed the unexpected fall in GDP was driven by declines in construction and production, while the dominant services sector stagnated. » | Guardian staff and agencies | Friday, December 13, 2024

THE TELEGRAPH:

Britain ‘on recession watch’ as economy shrinks: Britain has been placed “on recession watch” after official figures showed the economy shrank for the second month in a row in October. »

Ontario Leader Threatens to Halt Energy Exports to US If Trump Imposes Tariffs

THE GUARDIAN: Premier of Canada’s largest province says ‘we need to be ready to fight’ back against possible 25% tariffs on goods

The leader of Canada’s largest province says he’s prepared to halt energy exports to the United States, warning that other premiers “need to be ready to fight” as threats escalate ahead of possible American tariffs.

The Ontario premier, Doug Ford, says he’s weighing options to fight back against a 25% levy on all Canadian goods that the US president-elect Donald Trump has pledged to implement when he assumes office.

Following a meeting with the nation’s premiers and the prime minister, Justin Trudeau, Ford said other leaders were also drawing up lists of exports that could be halted. » | Guardian international staff | Thursday, December 12, 2024

Die Vermögensschere – Der Graben zwischen Arm und Reich in der Schweiz | Doku | SRF Dok

Feb 4, 2021 | Die Vermögensschere in der Schweiz geht immer weiter auf. Auch in der reichen Schweiz vergrössert sich die Kluft zwischen Arm und Reich immer grösser. Die Corona-Pandemie hat diesen Effekt noch verstärkt.

The Lincoln Project: Message

Dec 12, 2024 | A message for Republican Senators: Trump's agenda will fleece your constituents, while lining the pockets of his billionaire buddies. If you vote for Trump's policies, the fallout will follow you to your graves. We'll make sure of it.

Under Trump Mk2, we will witness the USA being turned into a full-on plutocracy. Trump is the mega-billionaires’ fool. And they’ll play him like one, too. We will soon witness the superrich getting richer and richer, and the impoverishment of ordinary Americans. How the American electorate could have fallen for this undemocratic cr** is beyond my comprehension. Moreover, if I am not greatly mistaken, after Trump, America will never be the same again.

By the way, when it comes to economics, Trump is clueless. Trump thinks that Wall Street rising and rising is indicative of the economy burgeoning and booming This is nonsense. Wall Street is like a casino. It is perfectly possible for the superrich to be making gazillions for themselves on the stock market even when the economy is faltering, even when the workers and middle class are struggling to survive.

We can look forward to a rough ride. – © Mark Alexander

Meet the Press | Full Broadcast — December 8, 2024

Dec 8, 2024 | President-elect Donald Trump sits down with Kristen Welker for his first broadcast interview since winning the election.

What the Rise in Inflation Means for Markets in 2025

Dec 11, 2024 | The November Consumer Price Index (CPI) revealed a broad-based rise in inflation, with month-over-month inflation increasing 0.3% and year-over-year inflation climbing 2.7%. Despite aligning with economists' expectations, the data raises questions about potential market implications and economic risks for 2025 under the new administration. Yahoo Finance Markets Reporter Josh Schafer breaks down the details, exploring which market sectors face the greatest potential vulnerability in light of these inflationary trends. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.