SE News

SWIFT’s Iran Ban Will ‘Expedite Global De-Dollarization’

It's Our Economy - 2 hours 44 min ago
The blacklisting of Iran from international financial messaging system SWIFT serves as a warning to Washington’s enemies, but will hasten the demise of the dollar, stockbroker-turned broadcaster Max Keiser told RT. SWIFT, a system that facilitates cross-border payments between 11,000 financial institutions in more than 200 countries worldwide cut several Iranian banks, including the country’s central bank, off from its services on Monday. The move came as a result of US pressure and was described by US Treasury Secretary Steven Mnuchin as “the right decision to protect the integrity of the international financial system.”
Categories: Friends of GEO, SE News

Canada Is Richer Than The US, According To A New Wealth Ranking — In Fact, The US Doesn’t Even Make The Top 10

It's Our Economy - 3 hours 44 min ago
The United States is home to more millionaires than any other country in the world. But whether the country is truly the wealthiest in the world depends on how you measure. A report released by Credit Suisse in October says the US is “in the lead” when it comes to global wealth. But a closer look at the numbers in that report reveals a different story. While it’s true that wealth in the US is growing faster than anywhere else in the world, it’s not the richest when you compare the average amount of wealth per adult. That prize goes to Switzerland, as you can see in the map below.
Categories: Friends of GEO, SE News

Labour Has A Plan

It's Our Economy - November 9, 2018 - 3:00pm
When Mio Tastas Viktorsson and I argued that the Left should revisit the Meidner Plan last year, we could have hardly expected that a strikingly similar policy would be adopted by British shadow chancellor John McDonnell and the Labour Party at this year’s conference. The Inclusive Ownership Funds (IOF) proposal — drawing its name and much of its inspiration from a recent report by researchers Matthew Lawrence, Andrew Pendleton, and Sara Mahmoud of the New Economics Foundation — calls for transferring 10 percent of the equity in all British firms with over 250 employees into worker-owned and -controlled funds over the next ten years. The funds would pay out annual dividends up to £500…
Categories: Friends of GEO, SE News

The Evidence Pours In: Poverty Getting Much Worse In America

It's Our Economy - November 7, 2018 - 9:00am
According to the Credit Suisse 2018 Global Wealth Databook, 34 million American adults are among the WORLD’S POOREST 10%. How is that possible? In a word, debt. In more excruciating words: stifling, misery-inducing, deadly amounts of debt for the poorest Americans. And it goes beyond dollars to the “deaths of despair” caused by the stresses of inferior health care coverage, stagnating incomes, and out-of-control inequality. Numerous sources report on the rising debt for the poor half of America, especially for the lowest income group, and largely because of health care and education costs. Since 2008 consumer debt has risen almost 50 percent. The percentage of families with more debt than savings is higher now than at any time since 1962.
Categories: Friends of GEO, SE News
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