Economy

McKinsey & Company is one of the largest global corporate consulting firms, notoriously advising many of the world’s most powerful governments and corporations. Garrison Lovely, a freelance writer and former McKinsey consultant, discusses his article at The Nation Magazine, “Confessions of a McKinsey Whistleblower: Inside the soul-crushing, morally bankrupt, top-secret...

150,000 UAW auto workers are going on strike because the hugely profitable “big three” US-based car makers continue to refuse to meet the union’s demands for fair pay and better working conditions. Denny Butler, the Vice President of UAW Local 685, joined the show a few hours prior to the...

The BRICS alliance of emerging major economies – Brazil, Russia, India, China, South Africa –  concluded its 15th Summit in Johannesburg with a major announcement. Six new countries have been invited into BRICS membership: Argentina, Ethiopia, Iran, United Arab Emirates (UAE), and Saudi Arabia.  With three major oil-exporting nations set...

The top 25 profitable corporations, including Google, Facebook, UPS, Norfolk Southern, Amazon and others, have used a specific tax loophole to avoid $67 billion in taxes since Trump’s 2018 tax cuts. Matthew Gardner, a Senior Fellow at the Institute on Taxation and Economic Policy and co-author of the report, “Corporations...

The power of the dollar sustains U.S. imperialism. But rising multipolarity, an overuse of U.S. sanctions, the rise of alternative trading arrangements that sidestep the dollar, and a very obvious crisis of western capitalism have led to panic about a decline in dollar hegemony. What gives the dollar so much...

Ahead of the “debt ceiling” deadline, President Joe Biden held talks with Speaker of the House Kevin McCarthy and other leaders in both parties. According to Walter Smolarek, Editor of Liberation News, by hosting negotiations, Biden is paving the way for significant cuts to social programs and legitimizing the right...

Instead of helping promote development, the International Monetary Fund (IMF) traps countries in cycles of debt and instability. Grieve Chelwa, Director of Research, Institute on Race, Power & Political Economy at The New School, explains how countries of the Global South are forced to go to the IMF for aid...

First Republic Bank became the second largest bank to fail in the US on Monday, and the third bank to do so since March. The Federal Reserve’s increase in interest rates led to the bank’s collapse, and it was subsequently seized by the government and sold to JPMorgan Chase. Chris...

Bitcoin, Stablecoin, Tether, Blockchain, Coinbase, Binance, Etherium, Luna, Celsius, Circle, FTX,  NFTs: What’s all this crypto jargon really about? What stage of capitalism does it mean we’re in? How has digital currency been impacted by the pandemic and the war in Ukraine? What are the geopolitical implications for the US...

Crypto billionaire Sam Bankman-Fried has been indicted on fraud and conspiracy charges following the collapse of FTX, the cryptocurrency exchange he founded. FTX was one of the largest such exchanges in the world and its collapse cost over $1 billion, destroying many working people’s savings. Chris Caruso, an economic researcher...