Richard Wolff: We Need a More Humane Economic System—Not One That Only Benefits the Rich

The partial shutdown of the U.S. federal government is entering its fifth day after a political impasse over President Donald Trump’s contentious demand for border wall funding. Funding for about a quarter of all federal programs expired at midnight on Friday, including the departments of Justice, Agriculture and Homeland Security. On Christmas Day, Trump said the shutdown will last until Democrats agree to fund his $5 billion U.S.-Mexico border wall, despite previously repeatedly claiming Mexico would pay for the wall. The shutdown is occurring as concern grows over the U.S. economy. U.S. stock markets are on pace to suffer their worst December since 1931 during the Great Depression. In response, Treasury Secretary Steven Mnuchin held an emergency meeting with top financial regulators and also convened a separate call with top executives of six major banks. We speak to economist and professor Richard Wolff.

Markets Stage One of Worst Christmas Eves Ever, Closing Down More Than 600 Points as Trump Blames Fed for Stock Losses in a Tweet

THE WASHINGTON POST: The Dow Jones industrial average followed its worst week in a decade with a 653-point drop Monday, and President Trump once again took to Twitter to interject himself into financial markets.

As blue chips sank even deeper into the red after weeks of chaos, Trump tried to assign sole blame for the sell-off to the Federal Reserve, likening the central bank to a golfer who “can’t putt.”

“The only problem our economy has is the Fed,” the president said in a tweet. “They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch — he can’t putt! » | Thomas Heath & Philip Rucker | Monday, December 24, 2018

My comment:

This must surely be what a 'stable genius' can do for the economy! We are all already so tired of winning! He warned us that we would be! »

German Amazon Workers Demand a Collective Contract

Every Christmas the German workers of Amazon attempt to strike and disrupt the company’s profits during the busiest time of the year. The management uses bonuses to tempt workers to break the strike.

Banker Says Another Recession Would Be Good for Business

"I don't look at a recession as a bad thing." - Jamie Dimon, the CEO of JP Morgan Chase (one of the big banks that crashed the economy 10 years ago).

Adresse à la Nation | Emmanuel Macron

La colère qui s'exprime aujourd'hui est juste à bien des égards. Elle peut être notre chance.

London Prime Property Hit by Steep Price Falls

Homebuyers in London’s most exclusive central postcodes are securing typical discounts of more than £350,000 off the asking price of properties as reductions reach their highest level in almost a decade.

The US Senate Has Left Us Vulnerable to the Big Bank Criminals

The Senate passed legislation that's gonna repeal protections that had been put in place with the Dodd Frank Act. Ring of Fire’s Mike Papantonio and Peter Mougey discuss this issue.