The wealth of the top 1% has soared during lockdown, but the booming fortunes of tech billionaires like Facebook boss Mark Zuckerberg and Amazon’s Jeff Bezos reveal deep faultlines in society. The coronavirus pandemic has directly cost some 500,000 lives. But the damage it has wreaked on the world economy will cost many more. In America, the unemployment rate in April was 14.7%, up from just... 

Farmers across Poland have declared a general strike, appealing to the public for understanding and awareness that their industry is defending itself against being driven into bankruptcy. Farmer protests are raging in many European countries, primarily due to the European Commission’s ideologically driven Green Deal policies and the flooding of European markets with agricultural products from international... 

The financial state of Black Lives Matter’s national organization, as revealed in recent reports, underscores significant challenges facing the group. The Black Lives Matter Global Network Foundation (BLM GNF) reported a substantial deficit of $8.5 million in the most recent tax year, raising concerns about its financial sustainability. Despite the financial turmoil, BLM GNF has faced criticism... 

Crisis-hit Sri Lanka has announced that it will halt payments on its foreign debt as its dwindling reserves of dollars are needed to purchase food and fuel. “We have come to a situation where the ability to service our debt is very low. That’s why we decided to go for a preemptive default,” the newly appointed central bank governor, Nandalal Weerasinghe, announced during a briefing on Tuesday. The... 

The United Nations is running out of cash. With a deficit of $230 million, the organization may run out of money by the end of October, Secretary-General and former Portuguese Socialist prime-minister António Guterres warns. Once again Socialists prove they are not very good managing other people’s money. There have been already some warnings by the UN secretary-general and former prime minister... 

A new report suggests that the real US debt level may be $400 trillion, or 20 times higher than the country’s gross domestic product. The calculation includes government, state, local, financial and so-called entitlement debt. AB Bernstein, a global asset management firm based on Wall Street, came up with these figures by including in its analysis not only traditional levels of public debt, such... 

The Commonwealth of Puerto Rico is seeking the largest municipal bankruptcy filing in US history, after failed negotiations with creditors over its $70 billion debt crisis. That’s more than four times the debt Detroit collapsed under. On Wednesday, the Financial Oversight and Management Board for Puerto Rico announced they had moved to place the US territory into federal bankruptcy court, making... 

Gawker’s outgoing CEO Nick Denton announced on Thursday after fourteen years Gawker.com will shut down next week. Gawker reported: After nearly fourteen years of operation, Gawker.com will be shutting down next week. The decision to close Gawker comes days after Univision successfully bid $135 million for Gawker Media’s six other websites, and four months after the Silicon Valley billionaire Peter... 

Bernie Sanders was recently interviewed on Univision and the host asked him to comment on the collapse of the economy in the socialist paradise of Venezuela. Naturally, Bernie didn’t care to discuss it. NewsBusters reported: Bernie Hits Bump on Univision: Speechless on Socialism’s Failures The Democrats’ socialist candidate for President of the United States, Bernie Sanders, was seriously tripped... 

An intriguing report circulating in the Kremlin today prepared by the Foreign Intelligence Service (SVR) for the Security Council (SC) regarding the United States presidential election is stating that Republican Party candidate Donald Trump is preparing to unleash a “shock announcement” of historic proportions against his Democratic opponent Hillary Clinton that should it be successful would destroy... 

Feel The Bern! One of the reasons communist Bernie Sanders is doing well with Millennials is because he’s promising free college for everyone. In an ultimate twist of irony, his wife Jane Sanders was president of Burlington College in Vermont and racked up such large debts for the small school that she led it to ruin. Burlington College announced today it will close after it was unable to recover... 

The White House said it is prepared to commit to the “largest single pledge of military assistance to any country in US history” in its defense assistance talks with Israel. A White House official made the statement to the Jewish Telegraphic Agency in response to a letter by 83 US senators to President Barack Obama urging him to substantially increase defense assistance to Israel. “We have been... 

On Thursday, Donald Trump told CNBC that his solution to dealing with the $19 trillion-plus national debt involves a form of default such as repurchasing existing bonds at a discount. The media jumped all over him calling his idea “insane” and warning that it would tank the economy or set off an “unprecedented financial crisis.” They are right that it would set off an unprecedented financial... 

Ukrainian Prime Minister Arseny Yatsenyuk declared a moratorium on the payment of three-billion-dollar debt to Russia. The Cabinet of Ministers of Ukraine supported his decision. In addition, the official Kiev is not going to pay the debt of $507 million to Russian banks (the debt was amassed by two Ukrainian companies that collaborated with Russian banks). “From today, all payments shall be... 

An ill-thought scheme intended to retain the last of McDonald’s’ customers has blown up in franchise owners’ faces, showing how little can be done to save the fast food giant from imminent collapse. After seven straight quarters of declining sales, McDonald’s decided to implement an all day breakfast menu earlier this month in hopes to revive their bottom line. The president of the company’s...