Category Archives: Banking & Lending Issues

Amid Soaring Poverty and Hunger, Amnesty Demands ‘Universal Social Protection’ Worldwide

“We cannot continue to look away as inequality soars, and those struggling are left to suffer,” said Amnesty International’s secretary-general.

By Jake Johnson. Published 5-10-2023 by Common Dreams

An urban slum in Hanoi, Viet Nam. Photo: United Nations/flickr/CC

With global poverty and hunger rising amid the intertwining crises of war, public health emergencies, and climate change, Amnesty International on Wednesday issued an urgent call for governments worldwide to implement universal social protections to ensure that healthcare, childcare, pensions, disability payments, and other benefits are available to all who need them.

Noting that many popular uprisings and mass protests across the globe in recent years have been fueled by economic and social concerns, Amnesty lamented that governments have turned to “repression and unnecessary and excessive use of force” against struggling demonstrators instead of addressing their core concerns, such as high food prices and paltry wages.

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Seniors to Bolster Youth-Led Climate Strikes With Day of Action Against Dirty Banks

“We have to show young people we have their back,” said veteran climate advocate Bill McKibben.

By Julia Conley.  Published 3-20-2023 by Common Dreams

Day of Action artbuild in North Carolina. Photo: Third Act/Twitter

Determined not to leave all the responsibility for climate action with young campaigners like Greta Thunberg and the Sunrise Movement, older Americans are organizing a nationwide Day of Action planned for Tuesday, with the aim of wielding the relative political and economic power of people aged 60 and up to pressure big banks to stop funding fossil fuel projects.

Following actor and activist Jane Fonda’s “Fire Drill Friday” protests that began in Washington, D.C. in 2019, longtime climate advocate Bill McKibben founded Third Act last year to mobilize older Americans who wanted to show solidarity with the Generation Z activists leading worldwide climate protests in recent years. Continue reading

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Ukraine war: Does Putin have his eye on the 2024 US presidential election?

A pro-Russian president in the White House would shift the outcome of a prolonged war in Putin’s favour

By Paul Rogers  Published 3-4-2023 by openDemocracy

Putin’s choice for US president: Donald Trump or someone like him. Photo: Trump White House Archived/flickr/CC

n the past few weeks, Russian forces in Ukraine have been attempting to take territory in intensive combat, but their progress has been minimal. This is adding to the sense that Russia is in difficulty and Ukraine is making progress in winning the war, with considerable support from the United States.

In its determination to consolidate this apparent advantage, Washington is warning forcefully of the actions it will take to counter countries willing to aid Russia. The G7 has also recently announced specific actions against some 200 companies and individuals across Europe, Asia and the Middle East, with part of the aim being to discourage those that have not yet been involved in sanctions-busting but are in a position to do so. Continue reading

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Syrian Relief Leader Urges US to Lift Sanctions Hindering Post-Earthquake Rescue Effort

“We need heavy equipment, ambulances, and firefighting vehicles to continue to rescue and remove the rubble, and this entails lifting sanctions on Syria as soon as possible,” said the head of a leading humanitarian group.

By Kenny Stancil  Published 2-8-2023 by Common Dreams

Photo: Khaled Karkout/Twitter

A disaster response expert has implored the United States to lift its economic sanctions against Syria, warning that the restrictions are hampering rescue and relief operations in the earthquake-ravaged country.

“We need heavy equipment, ambulances, and firefighting vehicles to continue to rescue and remove the rubble, and this entails lifting sanctions on Syria as soon as possible,” Khaled Hboubati, president of the Syrian Arab Red Crescent, said Tuesday at a press conference. Continue reading

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Nobody loved you, 2022

From devastating floods in Pakistan to Italy’s far-right PM to overturning Roe v Wade, this was a year of extremes

By Adam Ramsay  Published 12-30-2022 by openDemocracy

A flooded village in Matiari, in the Sindh province of Pakistan. Photo: Asad Zaidi/UNICEF

How do you turn 365 days experienced by eight billion people – and billions more other beings – into some kind of story?

Maybe you start with some events?

In which case, 2022 was the year that Covid vaccines kicked in. Daily global deaths hit 77,000 on 7 February, and have declined fairly steadily ever since. It was the year Russia invaded Ukraine, the first war between major European powers since 1945. Continue reading

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Outlook ‘Grim’ Halfway Through Global Biodiversity Summit, Climate Groups Warn

“If Global North countries don’t compromise, the consequences will be dire,” said Greenpeace. “One million species are at risk of extinction, threatening the web of life that holds our planet together.”

By Julia Conley.  Published 12-15-2022 by Common Dreams

Primary Forest Alliance at COP15 on December 7, 2022. Photo: UN Biodiversity/flickr/CC

Disagreements over financing biodiversity protection, the piracy of natural resources, and commitments to protect at least 30% of the Earth’s land and water by 2030 are some of the top sticking points at the United Nations’ global biodiversity summit in Montreal, which is set to wrap up in just four days.

Following a walkout early Wednesday by developing nations outraged over the Global North’s opposition to creating a biodiversity fund, one anonymous negotiator at the 15th Conference of the Parties (COP15) of the Convention on Biological Diversity (CBD) wrote in The Guardian that the summit is at risk of amounting to more of what climate campaigner Greta Thunberg has called “blah blah blah.” Continue reading

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Lame-Duck Dems Must Lift Debt Limit, Advocates Say as GOP Doubles Down on Social Security Threats

“Democrats must do whatever it takes to defeat Republican attacks on our earned Social Security benefits,” said one advocate. “That means raising the debt ceiling this year, before Republicans take control of the House.”

By Julia Conley.  Published 11-30-2022 by Common Dreams

#StoptheShutdown Press Conference with Speaker Pelosi and Senator Schumer in 2019. Photo: AFGE/flickr/CC

Progressives on Wednesday warned that time is running out for Democratic leaders to take Republicans at their word regarding slashes to social safety net programs, as U.S. Sen. John Thune indicated the GOP will use a potential fight over the debt ceiling next year as leverage to push cuts—unless the Democrats act now to raise the debt limit while they still control the Senate and House.

Thune (R-S.D.), who is the number-two Republican in the Senate as the chamber’s minority whip, told Bloomberg Tuesday that the party has a “long list” of policy priorities for the next Congress, which will commence on January 3. The party plans to put forward budget reforms including to federal programs which they have long claimed, erroneously, are unsustainable. Continue reading

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How the global energy crisis is pressuring countries at the UN climate summit – while some race to renewables, others plan more natural gas production

Europe’s natural gas prices have risen dramatically in 2022.
Privetik/iStock/Getty Images Plus

 

Robert Brecha, University of Dayton

Russia’s war on Ukraine has cast a shadow over this year’s United Nations climate summit in Sharm el-Sheikh, Egypt, where officials from around the world are discussing the costs of climate change and how to cut emissions that remain near record highs.

The war has dramatically disrupted energy markets the world over, leaving many countries vulnerable to price spikes amid supply shortages. Continue reading

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Elon Musk’s Twitter is more dangerous than you think

Beyond Musk’s oft-repeated rants about free speech, may lie shadier plans to recoup the $44bn he paid for the site

By Adam Ramsay  Published 11-11-2022 by openDemocracy

The world is burning and Ukraine is trudging into a winter of war. Prices are spiralling and the NHS is limping. The US and Brazil have held the line against fascism, just, while Italy has fallen to the far right. Watching the disastrous takeover of Twitter by the world’s richest bam can feel a little frivolous. So what if it becomes a rich boy’s toy? It often felt like that anyway.

But the thing is, we can’t solve the world’s problems without talking, and social media has become the way we do that. At its best, a space beyond the increasingly oligarch-owned press where citizens of the world can chatter, gossip, joke and revolt; can organise into new collectives and explore new identities and senses of self. At its worst, well, I don’t need to tell you. Continue reading

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US Unemployment System ‘Wholly Unprepared’ as Fed Risks Throwing Millions Out of Work

“If another wave of job losses does indeed hit, the unemployment safety net isn’t ready to cushion the blow without significant improvements,” warns the co-author of a new study.

By Jake Johnson  Published 11-1-2022 by Common Dreams

People’s Unemployment Line protest in Philadelphia, 2020. Photo: Joe Piette/flickr/CC

With the Federal Reserve poised to induce mass layoffs in its ongoing campaign to curb inflation, a study published Tuesday warns the notoriously fragmented U.S. unemployment system is nowhere near ready to handle another surge in jobless claims, potentially spelling disaster for the millions of people who could be thrown out of work next year.

Authored by Andrew Stettner and Laura Valle Gutierrez of The Century Foundation (TCF), the new analysis notes that “the share of jobless workers actually receiving UI benefits has shrunk dramatically” since federal benefit increases expired last year. According to TCF, just 26.8% of jobless workers were receiving state unemployment benefits in the 12 months that ended in August 2022, a sharp decline from the 76% rate through early 2021. Continue reading

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