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…
The value of the US dollar has dropped to its lowest point in three years (since 2015). As reported by RT America: “The ICE US Dollar Index, which measures the American currency against a basket of six rival currencies, dropped 1 percent to 89.245 on his speech, falling below 90 for the first time since…
As the US continues to desperately look for a way to punish the Democratic People’s Republic of Korea (DPRK) for working towards a means to defend itself from US imperialist aggression, they’ve decided that they’ll place pressure on other countries. Right now they’ve gone to the UN Security Council and demand new sanctions against the…
Venezuela has announced that they intend to drop the US dollar as the main trading currency for the country. Instead, they’ve advocated the use of a basket of alternative currencies. On the table right now are the Russian ruble, the Chinese Yuan, Japanese Yen, the Indian Rupee, and possibly the Euro. This will be the…
It is often held as conventional wisdom that expanding the money supply means causing inflation. Those claiming this say that “printing” more money will automatically increase the prices of goods and services in an economy. In the view of many, the expansion of the money supply somehow bypasses the forces of supply and demand and…
Donald Trump has been quite strange when it has come to economics. It is clear from anyone who has heard him speak that he has little to no knowledge on the subject. often he contradicts himself or makes promises that simply cannot be fulfilled. He’s entirely reliant on others for information. When they advise him,…
The issue of softwood lumber has been a long-standing problem of trade between the US and Canada since 1982. There have been numerous legal battles over the trade which have caused some degree of tension between the two countries. But as I will show, the U.S. outrage at softwood lumber prices is nothing short of…
In less than four months there have been as many retail closures this year than there was in all of the last year. Sports Authority and Payless have filed for bankruptcy, while Lululemon, Urban Outfitters, American Eagle, and Ralph Lauren have hit multi-year lows. A terrible crisis is sweeping through the retail industry causing mass…
I’ve been reading up on the current stage in the automation of labour. The automation of industry seems to be more complex than Marx had originally anticipated. The main drive of automation has been the reduction in the cost of production. However, the question arises: is there a threshold, a point at which the cost…
This video is based on the writings of Robert C. Allen who wrote Farm to Factory: A Reinterpretation of the Soviet Industrial Revolution. The video’s purpose is to make understanding Soviet economics and the industrialisation simple to the lay person. Allen carried out extensive research into the Soviet economy. I highly recommend his book to…
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