First Republic Bank: The second largest crash in US history, another example of bailout
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
Economy is the key issue ahead of US mid-terms
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
Why America’s economic war on China is failing
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
Finally, myth of stock market as barometer for real economy busted
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
The exodus of finance from the third world
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
- Brazil approves end to 6×1 work schedule and reduction of the work week to 40 hours
- Israel kills 31 people in Lebanon on the eve of Eid al-Adha
- Israel carries out sixth consecutive Eid massacre in Gaza
- Far-right Janez Janša to return for fourth government term in Slovenia
- With peace deal nearly final, US launches fresh attacks on Iran
