Nathan Schneider investigates how transforming the financial system could shift the way debts are formed and dealt with; from a system where the chief reason to lend is for profit, to one where the wellbeing of both parties takes priority
“Neither national nor European worker protection laws apply to the ECB, because it is not part of any nation. Nor is it a European state,” said an ECB staffer. “So basically, the Governing Council of the ECB has complete freedom to define any rules or laws for its employees that it wishes, with no democratic oversight and no worker representation.”
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After months of intense pressure led by unions and other social movements—including a general strike on the issue—the Uruguayan President listened to public opinion and left the US-led trade agreement.
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Leak shows White House working with tech corps to break encryption; World misleaders converge on NYC for UN General Assembly; Good News Next Week with the 'Library of Things'.
Jeremy Corbyn will have to face this monster, not only in the House of Commons but also in the mass media and the Internet. He will have to face the decades of Anglo-American political and economic incest, not that only manifested in the past century’s wedding of US plutocracy with British aristocracy.
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Challenges to these debts cannot be based on appeals to the letter of the law alone when the laws are biased in favor of creditors. There is, however, a legal principle for challenging otherwise legal debts: the principle of “odious debt.” Originally signifying debt incurred on behalf of a nation by its leaders that does not actually benefit the nation, the concept can be extended into a powerful tool for systemic change.
Whole Foods is in a world of hurt after the New York City Department of Consumer Affairs revealed in late June that the company was overcharging customers for some of its pre-weighed packages in New York City. [1]
The company’s stock fell more than 30% this year and trading is around $34.50 – the lowest level in nearly four years. Whole Foods’ stock fell another 5% after executives apologized for the pricing snag and promised that it would never happen again.
Not only are the Saudis unhappy with the US shale oil intrusion on their oily Kingdom. They are more than upset with the recent deal the Obama Administration made with Iran that will likely lead in several months to lifting Iran economic sanctions. In fact the Saudis are beside themselves with rage against Washington, so much so that they have openly admitted an alliance with arch foe, Israel, to combat what they see as the Iran growing dominance in the region—in Syria, in Lebanon, in Iraq.
[audio mp3="http://www.corbettreport.com/mp3/2015-08-10%20Jem%20Bendell.mp3"][/audio]What is the nature of money? Did it really evolve out of barter, and, if not, why is that myth so prevalent? What theories of money have been proposed in the past and how do they hold up? What monetary alternatives are on the table and how can they be improved?
