Tag: crisis of capitalism

The Andes

Venezuela drops petro-dollar: how meaningful?

Venezuela, under growing pressure from US sanctions, has told oil traders that it is dropping petro-dollars for petro-euros and petro-yuans. Despite the instinct to cheer the decline of US world domination, will this make any real difference—either to Venezuela, still dependent on oil exports in a world of depressed prices, or to Planet Earth, facing biosphere collapse as a result of burning hydrocarbons?

The Andes

Venezuela: is the problem really ‘socialism’?

There is an unseemly tone of gloating to conservative commentary on the crisis in Venezuela, with pundits pointing to the current chaos as evidence that "socialism" doesn't work. But a case can be made that, contrary to conservative and mainstream assumptions, the problem is precisely that the Bolivarian Revolution has been insufficiently revolutionary and socialist.

Mexico

Trump risking war with Mexico for useless wall?

Trump's threat to make Mexico pay for the wall with a 20% tariff on all goods coming in from across the border portends—at least—a trade war with the third biggest US trading partner.

Iran

Iran bank drops dollar amid new sanctions

The Central Bank of Iran formally dropped its use of the US dollar as Trump slapped new sanctions on the Islamic Republic in response to its latest missile test.

Mexico

‘Gasolinazo’ protests rock Mexico

Several states across Mexico have been shaken by days of angry protests in response to a jump in the price of gasoline sparked by a new deregulation policy.

Greater Middle East

Emir of Kuwait dissolves parliament

The Emir of Kuwait issued a decree to dissolve the country's parliament after weeks of deadlock over austerity measures imposed due to depressed global oil prices.

The Andes

Bolivia: police clash with striking workers

At least nine were injured and some 30 detained when security forces clashed with unionists of the Bolivian Workers Central blocking a highway to protest lay-offs.

Europe

Break-up of United Kingdom impending?

The Brexit may signal the beginning of the dissolution of the UK, renewing calls for Scottish independence, a united Ireland, and even for London to secede as a free city-state.

The Andes

Bolivia: labor unrest rocks La Paz

Riot police clashed with protesting laid-off workers in Bolivia's capital during a march against the government's decision to close the country's largest state-run textile company.

Planet Watch

A ‘New Oil Order’?

Experts declare a "new oil order" in which hydrocarbons will lose market share to renewables. But is it market conditions or geopolitics that explain the current price slump?