The movement of history can be understood as the result of a continual intertwining of…
Notes on the Coming Crisis and the End of U.S. Hegemony
Today the global economy is in turmoil for two main and intertwined reasons. First, the financial crisis of 2008 was resolved in a way that merely postponed the day of reckoning. To resolve the debt-credit relation crisis of 2008 and not merely…
Robots, computers, the internet, in a word: rapid technological development. This is the material basis of economic crisis we have already experienced in the 21st century and of the…
A bearish mood has washed over the investment world. Everyone knows that the developed economies are…
When people talk about interest rates they are referring to the rates that central…
The US and European countries are poised to do battle over who gets to tax international giants Google and Apple. The general agreement in place since 1928 is that taxes should be levied where value is produced rather than where it is realized. The claim of Apple, for example, is…
We previously wrote about the BoJ (Bank of Japan) joining Europe in implementing negative interest rates as a last ditch…
Japan lowered their interest rates into negative territory…thus charging lenders for not lending money and forcing them to invest in a zero-growth economy. The hope is that it will magically raise the profit rate. Of course it won’t. Japan is the example par excellence of the tendency of the rate of…
