First Republic Bank, holding USD 233 billion in assets, collapsed and was sold to banking giant JP Morgan Chase. First Republic is the third bank to fail in the US since March, surpassing the spectacular failure of Silicon Valley Bank (SVB) on March 10
Eugene Puryear of BreakThrough News talks about the state of the US economy ahead of the midterm polls and how the two parties have used the issue electorally
Trump faces negative legal judgments about his “trade war,” and the US economy slips into negative territory. Meanwhile, China has emerged as the major driver of the global economy
US stock markets boom while its economy collapses. People there are already on streets demanding equality; it is only a matter of time before working people take to streets in India as well
This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt