Author Archives: Devin Smith

Defiant Trump Ignites Trade War with Canada and G-7 Allies

Citing national security issues to get around WTO rules, Trump ordered tariffs of 25 percent on steel and 10 percent on aluminum imports from Canada and EU countries. NEP’s William Black and Gerald Epstein discusses the implications of these tariffs on the different economies. You can view transcript here.

US Penny, US Nickel and Sterling Silver Penny: Similarities and Differences

By Eric Tymoigne

The history of medieval coinage is full of dramas. Debasements, changes in official value, chronic lack of coins, use of foreign coins in domestic transactions, free minting, coins with a floating denomination, clipping, metalism vs. nominalism, among others, make for a colorful and fascinating monetary history. Recent developments in metal markets have recreated one of the conditions that led to a disappearance of the coinage in the Middle Ages. The post explains the monetary relevance of the recent developments in metal markets, and compares and contrasts their consequences with what happened in the Middle Age.

Continue reading

A Comfortable Betrayal

By J.D. ALT

This essay was first posted at https://www.realprogressivesusa.com/

It would be a shocking scandal if it came to light that the professions of medical science had, for decades, known about an easy to treat, underlying cause of cancer—but conspired to obfuscate and suppress the information to protect their participation in a medical industry raking in hundreds of billions a year to treat the disease. Professional standings, tenures, licenses would be in tatters. Lawsuits would abound. Outrage would march on every city hospital and medical college in the nation—would it not?

Continue reading

Once a Poster Child for Austerity, Latvia Becomes a Hotbed of Corruption

Austerity didn’t produce recovery in Latvia, it produced the semblance of recovery, says NEP’s Bill Black on The Real News. It also led to rampant criminal activity in the banking sector, such as money laundering, taking bribes, and violating sanctions against North Korea. You can view here with a transcript.

A Booming Stock Market Does Not Mean a Strong US Economy

During his State of the Union speech, Trump touted the recent stock market boom as proof of how well the U.S. is doing. However, as NEP’s Bill Black explains, the boom has nothing to do with new investment. You can view with a transcript here.

IRS Private Debt-Collection Program is ‘Indefensible’

Using private debt-collection firms to collect debt from low-income Americans is not only morally reprehensible, but it’s also terrible business, says NEP’s Bill Black in his latest appearance on The Real News Network. You can view here with transcript.

Warren Buffett Wins $1 Million Bet That Hedge Funds Are a Rip-Off

Billionaire investor Warren Buffett bet that hedge funds were a bad investment. Ten years later, Buffett’s wager proved that hedge funds earn only one third of what a stock index investment does. NEP’s Bill Black explains the numbers on The Real News Network. You can view here with a transcript.

Corporations Hoard Their Trump Tax Windfall

After President Trump signed the GOP tax plan into law, some of the bill’s corporate beneficiaries have offered workers minor bonuses. But NEP’s Bill Black says they’re keeping most of the money for themselves — and starting a new global race to the bottom for corporate taxes. You can view here with a transcript.

Trump, GOP Pull Off Their Tax Heist

NEP’s Bill Black appears on The Real News discussing Congressional Republicans have approved their tax bill, a massive upward transfer of wealth that fulfills a decades-long right-wing goal of permanent tax cuts for corporations. You can view here with a transcript.

Children’s Health Insurance Program to Expire Under GOP Tax Bill

Nine million children will go without health insurance under the new GOP tax bill, says NEP’s Bill Black in his latest appearance on The Real News Network. You can view here with a transcript.