The banking crisis that hit Silicon Valley Bank (SVB) last week has spread. We recall with a shudder two recent financial contagions: the 1997 Asian Financial Crisis, which led to a deep Asian recession, and the 2008 Great Recession, which led to a global downturn. The new banking crisis hits a world economy already disrupted Continue reading »
Economy
By The Center for Economic and Policy Research The New York Times seems to think it is a newspaper’s job to promote bank panics wherever possible. It would be difficult to explain its reporting on the Silicon Valley Bank’s (SVB) collapse any other way. Last week it ran a piece implying that Silicon Valley’s tech sector was […]
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At this stage there is little interest in how to dispose of the high level uranium waste from AUKUS SSNs, let alone put First Nations voices to the fore. This is unlikely to change while the nation’s most prominent journalists see it as their job to promote the dominant military doctrine and boost the demonisation Continue reading »
Starmer/Reeves less trusted on the economy than the appalling Sunak/Hunt The latest poll by Opinium shows the Keir Starmer/Rachel Reeves combination is more toxic to voters than the Tory pair of Rishi Sunak and Jeremy Hunt – whose recent budget has compounded hardship and misery for millions struggling under the effects of Tory budgets and […]
Humanity has reached a tipping point. It is time for governments, international institutions and people everywhere to take stock and act with renewed urgency. RESTORE HOPE: AN APPEAL to all who care about Humanity’s and the Planet‘s future Much depends on how well we support this appeal. Professor Richard Falk, Dr Chandra Muzaffar and I Continue reading »
The warmongers in the Anglophone countries of Britain, the USA and Australia today cause great concern with their AUKUS treaty and the not very subtle stirring of frenzy against China. It was similar in 2003 except that Iraq was the country being demonised. In 2003 rallies against the invasion of Iraq were held around Australia. Continue reading »
Speaking at a summit in San Diego on Monday, Prime Minister Anthony Albanese has announced a decades-long strategy to deliver the most costly defence project in Australia’s history. New details of the AUKUS defence and security pact have revealed Australia will buy three second-hand US Virginia-class submarines early next decade (and potentially two more), subject to Continue reading »
Anthony Albanese’s photo opportunity with president Biden and prime minister Sunak in San Diego must rank as one of the more grotesque and expensive the world has seen. The submarine deal, glowingly described as his ‘moon shot’ with its $368 billion price-tag is an act of pillage of public money. It might allow him to Continue reading »
Briahna Joy Gray and Matt Stoller discuss the collapse of SVB, and anti-trust in relation to East Palestine and the prospective merger between Jet Blue and Spirit Airlines.
The post The Roots of the Silicon Valley Bank Collapse (w/ Matt Stoller) appeared first on scheerpost.com.
What are the budgetary implications of the AUKUS nuclear-powered submarine deal? Here are some numbers provided by a Defence spokesman to select journalists. It is expressed in today’s dollars so does not include future inflation. Since it was a background briefing not an official communique it’s not clear who takes responsibility should these costings prove Continue reading »