Truthout is an indispensable resource for activists, movement leaders and workers everywhere. Please make this work possible with a quick donation. The financial system of the United States has always been prone to instability and crises. Now, however, under the new Trump administration, which is pushing for major cuts in regulation, including in the cryptocurrency...
Daniel Thomas Business reporter Getty Images Russia has significantly ramped up its military production to support the war in Ukraine Since its illegal invasion of Ukraine in 2022, Russia has become the most sanctioned nation on Earth, and yet its economy has been remarkably resilient. In 2024, if Russian official figures are to believed, its...
Getty Images US President Donald Trump may have called tariffs his favourite word in the dictionary. But when it comes to obsessions, business investment has got to be close. As of last month, he said more than $12 trillion (£8.8tn) had been “practically committed” on his watch. “Nobody’s ever seen numbers like we have,” he...
We are reminded rather starkly today of the backdrop – the all too hard to shift backdrop – that shapes our national life and conversation and the trade-offs the government confronts. The latest GDP figures underline the baked in sluggishness, the flatlining, even the shrivelling of the economy. All this after the prime minister and...
The UK economy shrunk by more than expected in April as taxes rose for firms, household bills increased and exports to the US plunged. The economy contracted by 0.3%, more than the 0.1% fall predicted by economists. In April, employers’ National Insurance and water, energy and council tax bills both rose, while the introduction of...
The answer is too easy. It is, of course, Florida. There is a reason why I was an avid supporter of Governor DeSantis in the primaries, and why I resented the MAGA attacks aimed at him when he was running against President Trump. Ron DeSantis is awesome, and even if you think Donald Trump is...
The trade war with China has sent US stocks on a rollercoaster ride and led to disputes about whether or not China is already discussing a trade deal. But the impact is also being felt in China. Last week there a report showed Chinese factories were slowing down in response to tariffs. Estimates of China’s...
Christal Hayes BBC News, Los Angeles Watch: Donald Trump on the US economy: ‘Give us a little bit of time’ President Donald Trump has asked for more time on the US economy as it contracted for the first time in three years, stoking recession fears. He said the figure was misleading because companies had stockpiled...
California’s economy has overtaken that of the country of Japan, making the US state the fourth largest global economic force. Governor Gavin Newsom touted new data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis showing California’s growth. The data shows California’s gross domestic product (GDP) hit $4.10 trillion (£3.08 trillion)...
Is there anything that man can’t do? The forecasts are out for the moribund German economy – which suddenly and conveniently no one can remember was already in the toilet and has been circling for the past two years – and darned if they aren’t downright gloomy. This is alarming for the EU’s economic engine....
The influential financial agency is projecting slower economic growth in the US due to uncertainty around President Trump’s tariffs. Read full article at source...
China is encouraging it’s retirees to spend their savings on fun initiatives to help boost its economy – including “silver trains”. They take older travellers to underdeveloped areas they might not normally visit, including those that need a financial shot in the arm. It’s hoped the increase in domestic spending would help offset the impact...
The UK economy grew by more than expected in February, according to the latest official figures. The economy expanded by 0.5%, with the services sector having a strong month, the Office for National Statistics (ONS) said. Economists had predicted growth of just 0.1%, but the ONS said several factors contributed to the surprise rise which...
Getty Images A full-scale trade war with China and the US is in prospect after President Donald Trump threatened to impose tariffs of more than 100% on Chinese goods imports from Wednesday 9 April. China has said it will “fight to the end” rather than capitulate to what it sees as US coercion, and has...
Shares in the US stemmed their losses on Monday, as investors clung to hopes that US President Donald Trump would turn from tariffs to trade deals. The S&P 500, which tracks 500 of the biggest companies in the US, ended the day down about 0.2%, after a wild day of trading that saw shares gyrating...