Alt-Media Is in Shock After the BRICS Bank Confirmed That It Complies with Western Sanctions
Yves here. Please welcome Andrew Korybko to Naked Capitalism. He regularly posts on his own Substack and has graciously agreed to let us reproduce his work from time to time. Please note that the tone of this post is a bit out of character for Korybko, in that he is clearly chuffed and is taking […]
Deflation is curbing China’s economic rise
China has a new central-bank boss. Pan Gongsheng, who became governor of the People’s Bank of China on July 25th, is a technocrat. His career, which includes a phd in economics, research at Cambridge University and Harvard, and a stint as deputy governor, resembles those of central bankers elsewhere. But he inherits a different problem: […]
Soaring temperatures and food prices threaten violent unrest
Protests have a funny way of kicking off when the mercury soars. The summer of 1967 is best known as “the summer of love”. It was a time when hippies flocked to America’s west coast to protest war, take drugs and peace out. But it was also a time when more than 150 race riots […]
Here Come The AI Regulators – The United Nations
Most people are unaware that the agency that was created to regulate the international telegraph has seized authority over the technology of AI when they lack any understanding of the subject. This is the International Telecommunication Union (ITU), and its global regulations are trying to now tackle AI. This is part of the United Nations […]
America’s battle with inflation is about to get trickier
It was never in doubt. In the run-up to the Federal Reserve’s meeting this week, investors assigned a probability of nearly 99% to a decision by the central bank to raise interest rates once again. On July 26th policymakers duly fulfilled those expectations, with their 11th increase in 12 meetings, together making for America’s sharpest […]
FOMC Raises Rates in July
As expected, the Federal Open Market Committee raised its target for the federal funds rate. The new range is 5.25-5.50 percent. The Federal Reserve’s continued efforts to bring down inflation are commendable. But there are real risks that it’s gone too far, too fast. The most recent inflation figures help us understand how precarious the […]
Can UBS make the most of finance’s deal of the century?
“Limited but intensive”. That is how a regulatory filing described, with something approaching wry understatement, the few days of due diligence before ubs announced its deal to rescue Credit Suisse on March 19th. The dramatic acquisition was the first ever tie-up between two “global systemically important banks”, a designation introduced after the financial crisis of […]
