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The West’s Anti-Worker Interest Rate Hikes Are Drowning the Global South in Debt
Policymakers in the Global North have mostly responded to rising inflation by raising interest rates. That’s bad for their own workers — and it’s creating a debt crisis for many countries in the Global...
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Harvard Has Become a Tax Shelter for Billionaires as Public Education Languishes
On April 11, 2023, Harvard University announced that the billionaire hedge fund CEO Kenneth C. Griffin is donating $300 million to Harvard’s Faculty of Arts and Sciences to fund research and...
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Want to Fix the Climate? End Debt Traps
As climate activists, we are used to banging our heads against brick walls. Amid the need to rapidly move away from fossil fuels, deforestation and destructive export agriculture, we’re used to...
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Life or Debt? How the IMF Keeps Africa Down
Instead of helping promote development, the International Monetary Fund (IMF) traps countries in cycles of debt and instability. Grieve Chelwa, Director of Research, Institute on Race, Power &...
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‘Freedom From Medical Debt’ Campaign to Launch With Virtual Town Hall
The new push is led by Our Revolution along with Rep. Ro Khanna and Sen. Bernie Sanders, Medicare for All supporters who are working on legislation to tackle medical debt. “I’m 72 and now live with my...
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‘End the Absurdity’: Experts Say Biden Must Not Let GOP Force ‘Catastrophic’...
Ahead of congressional leaders’ Tuesday meeting at the White House, economists and other experts have renewed warnings about what the GOP’s threatened first-ever U.S. default—or even coming...
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Bipartisan Support of War, from Iraq to Ukraine, Is Helping Fuel U.S. Debt...
Transcript This is a rush transcript. Copy may not be in its final form. AMY GOODMAN: Negotiations are continuing in Washington, D.C., over raising the debt ceiling. The United States faces a default...
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Steering the Titanic into the Iceberg
Patty Chayefsky’s film Network, an acid-laced spoof of capitalist media, reaches its climax when Chairman Arthur Jensen, leader of the fictional mega-corporation CAA, thunders his disapproval to the...
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The Biden-McCarthy Debt Ceiling Deal: Neoliberal Fiscal Policy Continues
Over the weekend, US House of Representatives speaker McCarthy and president Biden announced a tentative agreement on raising the debt ceiling. The deal—almost certain to pass Congress later this...
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Sanders, Jayapal Re-Up Plan to Make College Tuition-Free by Taxing Wall...
U.S. Sen. Bernie Sanders and Rep. Pramila Jayapal on Wednesday reintroduced legislation that would make college tuition-free for working families and pay for it with a tax on Wall Street speculation....
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If Banks Can Be Bailed Out, Student Debt Can Be Canceled
Last month, in a hat-trick for right-wing litigants, the U.S. Supreme Court ruled in favor of structural racism, homophobia and mass indebtedness — in that order. First, the conservative majority...
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Industrial Revolution Iron Method ‘Was Taken From Jamaica by Briton’
An innovation that propelled Britain to become the world’s leading iron exporter during the Industrial Revolution was appropriated from an 18th-century Jamaican foundry, historical records suggest. The...
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Colonialism or Sovereignty? How the Global Financial System Traps Countries...
RADHIKA DESAI: Hi, everyone, and welcome to this 13th Geopolitical Economy Hour, the fortnightly show on the political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m...
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Is Student Debt a Crime Against America’s Future?
Six Republicans on the Supreme Court just killed President Biden’s student loan debt forgiveness program. Republicans, predictably, are giddy, celebrating another Supreme Court victory in which, on...
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How the US Could Solve the Federal Debt Trap
“Rather than collecting taxes from the wealthy,” wrote The New York Times Editorial Board in a July 7 opinion piece, “the government is paying the wealthy to borrow their money.” Titled “America Is...
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Resisting the Shock Doctrine
Ashley Smith chairs an event with Yuliya Yurchenko, Eric Toussaint, and Sushovan Dhar on the global movement against neoliberalism, debt, and the struggle in Ukraine. In this discussion, Yuliya...
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50 Years Older and Deeper in Debt
This year marks the 50th anniversary of San Antonio Independent School District v. Rodriguez, the landmark 5-4 Supreme Court decision that held that education is not a fundamental right protected by...
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We Don’t Owe! We Won’t Pay! Women in Sri Lanka Demand Economic Justice in the...
Women’s rights groups in Sri Lanka reject the current debt restructuring solutions that place the burden of repayment on Sri Lanka’s working classes, particularly its women. They are demanding urgent...
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Neocolonial Debt Traps Are Forcing Poorer Countries to Rely on Fossil Fuels
In the current age of climate emergency, many countries in debt are being forced by Global North elites and institutions to continue to rely on fossil fuels in order to repay loans taken from rich...
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“Capitalism Is an Insecurity Machine”: Astra Taylor on Student Debt & Our...
As the COVID-19 era pause on federal student debt payments comes to an end and some 40 million Americans will resume payments next month, we speak with Debt Collective organizer Astra Taylor about...
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The Perilous Path From Western Domination to De-Dollarization
Two interesting things happened at the BRICS summit in South Africa in August. Several new members were invited to join BRICS in 2024: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. And,...
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The New York Legislature Could Help Free the Global South From Crushing Debt
As world leaders meet in Morocco this week to discuss the growing global debt crisis, lawmakers in New York will soon consider the most globally important state legislation you’ve never heard of. The...
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Disastrous Capitalism in Morocco in Wake of Earthquake
On 8 September 2023, a devastating earthquake hit Morocco killing over 3,000 people and injuring thousands more. While grassroots solidarity initiatives mushroomed, the state’s relief response has been...
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Debt Activists Bought $10M in Student Debt for $125,000 — and Canceled It All
Debt activists have bought out the student debt balances held by nearly all of the attendees of a historically Black college for a penny on the dollar — and canceled it entirely. On Monday, a debtors’...
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Insecurity Is a Feature, Not a Bug, of Capitalism. But It Can Spark Resistance.
Capitalism is a socioeconomic system that depends upon exploitation and generates inequality. In a recently published book titled, The Age of Insecurity: Coming Together as Things Fall Apart,...
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Political Tsunami Emerging?
On the front page of the Northwest Indiana Times this morning, November 11, 2023: a headline, top of page, “Middle East: Thousands Flee Hospitals” in bold dark print, with a large color picture of...
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The West Is Suffocating the Global South With Debt
Recent aggressive interest rate hikes have not solved the persistent inflation that economies have been experiencing. Indeed, the actual causes of inflation—supply chain disruptions and spikes in...
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Why Rudy Giuliani Can Declare Bankruptcy While Homeowners Can’t
Within days of a nearly $150 million judgment against former New York Mayor Rudy Giuliani for defaming Ruby Freeman and Shaye Moss, the election workers Giuliani falsely claimed stole the 2020 election...
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Biden Canceled My Student Debt. I Still Won’t Vote For Him.
A few weeks ago, Joe Biden tweeted with the promise of another round of student debt cancellation. For good reason, this one really caught my attention. Biden’s tweet said, “Starting next month,...
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Solidarity Forever: Building Movements Amid Today’s Crises
“None of us benefit from a burning planet,” says activist and documentarian Astra Taylor on this week’s Deconstructed. Taylor and Leah Hunt-Hendrix join Ryan Grim to discuss their new book,...
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