Finance


Ellen Brown  ICH Argentina was the richest country in Latin America before decades of neoliberal and IMF-imposed economic policies drowned it in debt. A severe crisis in 2001 plunged it into the largest sovereign debt default in history. In 2005, it renegotiated its debt with most of its creditors at a 70% “haircut.” But the opportunist “vulture funds,” which had bought Argentine debt at distressed prices, held out for 100 cents on the dollar. (more…)

Business Insider

Qatar is purchasing $11 billion in Patriot missile batteries and Apache attack helicopters from the United States, according to AFP. It’s the largest single sale of U.S. weaponry in 2014, and it’s to a country with only 278,000 citizens (and about 1.5 million expatriates). (more…)

Four years ago, the US government passed this absurd law requiring every bank in the world to enter into an information-sharing agreement with the IRS. (more…)

Truthout

A tiered system has evolved where the top 20 percent of the population is able to afford a university education. The bottom 80 percent is increasingly burdened with debt if they pursue post-secondary education (more…)

Johnston stress that inequality is primarily a result of political and economic arrangements, including anti-trust policy and how much investment society and parents make in their children’s health and education. (more…)

BEIJING, June 3 (RIA Novosti) – Russia and China have agreed to set up a joint ratings agency to assess common projects, Russian Finance Minister Anton Siluanov said during his China trip Tuesday. (more…)

Key members of Bill Clinton’s team who championed policies that led to economic disaster still driving agenda in Obama White House (more…)

David Cay Johnston

If you’re wondering why ordinary Americans aren’t even close to achieving economic prosperity nearly five years after the official end of the Great Recession, you should pay close attention to the proposed $45 billion takeover of Time Warner Cable by Comcast. (more…)

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