Economy

Economy

By Daniel Tencer (source: The Raw Story )   Washington Post political correspondent David Broder has kind words for President Barack Obama in in his opinion...

The whole point is to inflict as much pain as possible, so Putin has no choice but to hand over Syria.

China is one of the world’s largest oil buyers. Nearly 60 percent of its oil consumption comes from imports.

When even the staunchest stooges of empire seek alliances in the East, the writing is on the wall, that the economic winds are shifting, that a tectonic sea-change is in the offing and that the Iran nuclear deal, one way or another, doesn’t really matter in the foreseeable future.

The public subsidies provided to miners, loggers, and ranchers are as extravagant and as harmful to the public interest as the subsidies that the Federal Reserve and Treasury provide to the "banks too big to fail."

To corral China and Russia (and Iran) is a massive undertaking for a country that is financially busted. With wars and bankster bailouts, Bush and Obama have doubled the US national debt while failing to address the disintegration of the US economy and rising hardships of US citizens.

“We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,” said a senior official.

An internationalized yuan established as a global reserve currency implies a "market-determined" exchange rate policy.

The reality of London's delusional calling is like getting hit by high-speed train.

Germany, sooner or later, must answer a categorical imperative - how to keep running massive trade surpluses while dumping their euro trade partners. The only possible answer is more trade with Russia, China and East Asia.

So why is this happening?

Plastic ham, anybody?

On August 11, China started to devalue the national currency and sell US Treasuries to support the devaluation.