Economic analysis and commentary
Monopoly capital is a feature of later stage capitalism, which drives imperialism. This was proven by the great drive for imperialism, first theorized by Vladimir Lenin. But can we say that monopoly capital is the same today as it was in Lenin’s time of the First World War? Capitalism, like many things, evolves over time.…
– 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…
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…
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…
The Trump administration has once again been called upon to carry out some kind of compensation for the American victims of Trump foreign policy. The U.S. Department of Agriculture has announced that a $12 billion package is being put together by the Trump administration as a “bailout” to farmers who have been affected by the…
It seems that the US instigation of a trade war has begun to stir some serious retaliation. As the US under President Trump continues to chart a course of economic and military confrontation with the entire planet, some countries have begun trying to deal with US tariffs. China seems to be leading the way in…
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…
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…
The US continues to push the false claim that Iran is in violation of the Joint Comprehensive Plan of Action (JCPOA) despite the fact that European countries and UN agencies have certified that Iran is in full compliance. It seems that the US is insistent upon withdrawing from the agreement and restoring previous extraterritorial sanctions…
The top five credit card companies have banned the use of their credit to purchase cryptocurrencies. This is very telling. The banks are concerned that the use of such credit is going to an unsafe investment. Credit cards are meant for consumer purchases, not investments. Much of the Bitcoin phenomenon has been made up of…
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