Fearless commentary on finance, economics, politics and power

It turns out that many of today’s billionaires are selfish, lonely men fantasizing about how they will survive the end times they have played a part in creating.

$50 billion, backstopped by IMF.

~ Today’s Water Cooler ~

By Conor Gallagher Yves wrote yesterday about what the Russian response might be to the Nord Stream attacks. I wanted to touch on a few other potential consequences I’ve come across, and as there are no doubt more, hope to see them in comments. Economic Catastophre in Europe Now Certain  There were questions in Washington […]

Conor: Germany’s swift demise reminds me of the German intelligence agent Bachmann in “A Most Wanted Man.” He’s led to believe he’s operating on an equal level with CIA and British intelligence only to realize too late he was being played the whole time. Hudson gets to the bottom of what Germany’s downfall will mean […]

The European Systemic Risk Board is essentially an offshoot of the European Central Bank. And central banks are normally the last to admit that a crisis is around the corner, if not already here. 

Conor: This is a good reminder that a) this war could be brought to an end if that wasn’t the last thing the US and the UK wanted, and b) when western media refer to the “international community” they’re typically referring only to US allies and omitting voices like the following. By Medea Benjamin and Nicolas […]

Russia is almost required, if nothing else for domestic political reasons, to Do Something about the Nord Stream attacks. But what exactly?

~ Today’s Water Cooler ~

As Victoria prepares for the coming state election, Labor is likely to win despite its public corruption and lack of accountability to working people. In the absence of any decent opposition, “teal” independents opposing the Labor party without the baggage of the conservative Liberal Party will help to protect traditionally anti-Labor seats.

Electing more union members at the local level will help to combat right-wing attacks on workers and hold local government accountable to the ordinary people it’s intended to serve.

The Modi government has demonstrated that it wants to take its fight against the Khalistan movement to the international sphere and has punished the Canadian higher education sector for the Canadian government’s stance on the issue.

In the light of the recent cancellation of bus lines and an announced tube fare increase, this piece analyzes the historic benefits to the labor market of a functioning public transport system.