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+27 +1
Welcome to the new dark ages, where only the wealthy can retire
It’s almost too easy to imagine the scenario. After spending most of our adult life in paid employment, the golden day arrives. A well-earned retirement. Suddenly we’re released from the grip of office email and that long commute. Finally we can enjoy our remaining time on Earth pursuing those interests we’d never had time for, perhaps reconnecting with family and finishing those repairs on the house. Above all, time to relax.
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+5 +1
World’s Biggest Banks Fined $321 Billion Since Financial Crisis
Banks globally have paid $321 billion in fines since 2008 for an abundance of regulatory failings from money laundering to market manipulation and terrorist financing, according to data from Boston Consulting Group. That tally is set to increase in the coming years as European and Asian regulators catch up with their more aggressive U.S. peers, who have levied the majority of charges to date, BCG said in its seventh annual study of the industry published Thursday. Banks paid $42 billion in fines in 2016 alone, a 68 percent rise on the previous year, the data showed.
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+24 +1
Somerdale to Skarbimierz
How to explain Poland’s swing against the European Union? How to explain the election of the Catholic fundamentalist, authoritarian, populist, Eurosceptic Law and Justice Party to rule a booming country... By James Meek.
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+6 +1
When Globalization Brings Brain-Invading Worms
The parasite that causes rat lungworm disease is now endemic in the southeastern United States, and it’s expected to spread northward. By drienne LaFrance.
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+13 +1
Tokyo signals U-turn on TPP, moves to activate trade pact sans U.S.
In an apparent shift, Tokyo plans to push forward talks for activating the Trans-Pacific Partnership agreement without the United States, which withdrew from the multination trade pact in January after President Donald Trump said he would instead pursue bilateral trade deals, a government source said. With the China-excluding pact, inked last year as part of an effort toward high-level trade liberalization, currently adrift after America’s exit, Japan has stepped up to take the lead...
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+25 +1
Chained To The Rhythm
Katy Perry featuring Skip Marley
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+2 +1
The Changing of the Global Economic Guard
China has profited immensely from the open global trading system. But whether it remains open depends on the actions of the West’s increasingly reactive democracies. By Edward Luce.
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+12 +1
Barack Obama’s $400,000 speaking fees reveal what few want to admit
His mission was never racial or economic justice. It’s time we stop pretending it was. By Steven W Thrasher.
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+15 +1
The Globalization of Misery
The closest I ever got to Mosul, Iraq’s second largest city, was 1,720.7 miles away — or so the Internet assures me... By Tom Engelhardt.
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+24 +1
The French fracture
A social thinker illuminates his country’s populist divides. By Christopher Caldwell.
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+21 +1
After Laying off Thousands, Boeing CEO Says Offshoring Work to China Won’t “Directly Harm” US Jobs
“We know as we’re investing there, we’re also creating a competitor.” By Wolf Richter.
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+24 +1
In Detroit, Artists Explore the Riches of the 99-Cent Store
For a summer exhibition titled “99 Cents or Less,” the Museum of Contemporary Art Detroit has begun to resemble a dollar shop. By Chris Hampton.
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+16 +1
Alibaba founder Jack Ma has a brutal theory of how America went wrong over the past 30 years
DAVOS, Switzerland — Alibaba founder Jack Ma thinks America went wrong over the past 30 years by focusing too much on war and Wall Street. Speaking at the World Economic Forum on Wednesday, Ma was asked about globalisation and the reaction to it represented by the election of Donald Trump as US president.
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+17 +1
Globalisation: the rise and fall of an idea that swept the world
The long read: It’s not just a populist backlash – many economists who once swore by free trade have changed their minds, too. How had they got it so wrong? By Nikil Saval.
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+6 +1
Citizens of anywhere
Globalisation has turned citizenship into a commodity. Matthew Valencia went shopping for a new passport and found bargains to be had.
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+12 +1
The Spheres of Insurrection: Suggestions for Combating the Pimping of Life
The world is in convulsion, and so are we. We are taken by a malaise, comprised of a mix of sensations. A dread in face of the sinister landscape brought by the rise of reactive forces everywhere, whose level of violence and brutality reminds us of the worst moments in history. Along with the fear, we are also taken by a perplexity in face of another phenomenon, simultaneous to the first: the takeover of worldwide power by the capitalist system in its new version—financialized and neoliberal—which extends its colonial project to its ultimate limits, its globalitarian realization.
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+12 +1
The Hot Mess Of The Free Market’s Side Effects
How every little thing affects every other thing… By Rob Larson.
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+1 +1
The Rise of China and the Fall of the ‘Free Trade’ Myth
‘America first does not mean America alone,” President Trump declared last month at the World Economic Forum in Davos, Switzerland. This sudden burst of pragmatism from an avowed nationalist showed what a difference a year can make. Denouncing the “false song of globalism” during his presidential campaign, Trump, on his third full day in office, canceled the Trans-Pacific Partnership, a regional trade deal with Japan and 10 other countries.
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+13 +1
The mini crash and class warfare
The mini stock market crash earlier this month was a minor symptom of a much larger problem: class war. By Larry Beinhart.
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+2 +1
Will Robots Set Us Free?
The philosopher Herbert Marcuse saw machines as our greatest hope for real liberty. But in Trump’s America, automation feels more totalitarian than ever. By David Moscrop.
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