The bosses’ trade deals hurt working people

By BARRY WEISLEDER On Oct. 2 negotiators reached a new continental trade deal. It’s called the USMCA. Despite a familiar cadence, it’s not a cover version of the song by the Village People. It’s NAFTA 2.0. Should we be grateful that it’s not worse than it is? First, the good news. Chapter 11 between Canada…

Inside Trump’s trade bluster

By JEFF MACKLER Analyzing President Donald Trump’s excoriating traditional U.S. trading partners at the Group of Seven’s (G7) May meeting in Quebec, Marxist economist Michael Roberts commented: “What all these Trumpist antics revealed is that the period of the Great Moderation and globalization, from the 1980s to 2007, when all major capitalist states worked together…

Argentina: Macri’s neoliberal fantasies

By CLAUDIO KATZ In the middle of his term, Argentinian president [Mauricio] Macri cannot hide the monumental abyss between his promises and reality. The promise was of an influx of dollars to lower inflation, with high growth, job creation, an entrepreneurial boom and eradication of social assistance. A drastic reduction of the fiscal deficit and…

Global debt hits $164 trillion

By BARRY WEISLEDER The world’s debt load has ballooned to a record $164 trillion, a trend that could make it harder for countries to cope with the next capitalist recession and pay off debts if financing conditions tighten, the International Monetary Fund said in April. Global public and private debt swelled to 225 per cent…