SANTA CRUZ, Bolivia—As part of a humanitarian relief effort for Cuba’s long struggling population the organizations Code Pink, People’s Forum, and Puentes de Amor (Bridges of Love), coordinated a shipment of almost seven tons of powdered milk on Jan. 15 amid ongoing critical food and medical supply shortages. The grassroots mobilization is the second delivery…
This Day in Market History: The Panic of 1825
On Dec. 14, 1825, a stock market crash attributed to what many economists call the first modern economic crisis took place in England. Across the pond in the U.S., the S&P 500 index and the Dow Jones Industrial Average did not yet exist, and the New York Stock & Exchange Board, which would become the…
Taliban Expand Economic Team as Afghan Crisis Deepens
Afghanistan’s ruling Taliban terrorist group bolstered its economic team on Tuesday, naming a commerce minister and two deputies as the group tries to revive a financial system in shock from the abrupt end to billions of dollars in foreign aid. Nooruddin Azizi, a businessman from Panjshir province north of Kabul, was named as acting minister…
As Beijing Cracks Down on Bitcoin, Devastated Nations Embrace It
Commentary In China, bitcoin is all but dead; in countries decimated by war and poverty, however, the king of crypto is well and truly alive. Bitcoin has “no actual value support,” according to Yin Youping, deputy director of the financial consumer rights protection bureau of the People’s Bank of China. Cryptocurrencies, he argues, are little…
This Time Is Not Different: More Debt, Less Growth
Commentary I remember that in 2009, three phrases were constantly repeated: “In this crisis measures are different, because governments are investing in the recovery by increasing public spending,” “the funds from the stimulus will strengthen the recovery,” and “central banks help a stronger recovery by lowering rates and increasing liquidity.” Then, 2010 arrived and the…
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