DPRK 200-Day Battles and Paying off the Country’s External Debt amidst the collapse of the Socialist Eastern Bloc

– North Korea’s 200-Day Battles and Paying off the Country’s External Debt amidst the collapse of the Socialist Eastern Bloc – The approach the DPRK employed to overcome its economic choke holds during its 40th Anniversary in 1988 was strikingly familiar to previous efforts for economic development: whip up mass enthusiasm and urge workers to…

Cockshott on Excess Deaths in Ukraine under Capitalism

The following post was made by Paul Cockshott on his Facebook page which I’ve reprinted here: “Left is the plot from Trump’s presidents report on the iniquities of socialism. Shows that there was a famine in the the Ukraine in the 1930s which for one year raised the death rate there. Right is a plot…

Turkey Finds Economic Crisis Ally in Qatar

In the face of increasing US sanctions against the country, Turkey has found an unlikely ally in Qatar. Just recently president Trump placed tariffs on steel and aluminum imports from Turkey in violation of standing agreements. The tariffs are already at 20% and 50% respectively. Ankara has responded by placing their own tariffs on a…

US Dollar Banned for Trade in Iran

The Islamic Republic of Iran has delivered another sharp blow to the US dollar. The government recently announced that it will no longer be accepting the dollar for trade. Anyone attempting to use the dollar will be barred from passing through import procedures. This comes as a result of concerns the Central Bank of Iran…

State Banks Realizing the Power of Crypto-Currencies

One of the virtues of digital currencies has been the lack of regulation over them. it was pronounced by libertarians that simply removing the state from money would magically make everything work. In their eyes, allowing the market to function unhindered is the key to success. But, as we’ve seen, this is certainly not the…