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Tag Archives: United States

US GDP report puts nail in the coffin for the recession story

The latest US GDP report was just released showing the US economy expanded at a 2.1% annualized rate in the second quarter of 2019. This was marginally better than expectations for a 1.8% increase, and significantly above the Atlanta Fed’s GDPNow indicator that was showing 1.3%. The numbers are good While these numbers may be revised down somewhat in future releases, they are still much higher than one would expect in an economy where the yield curve is partially inverted and the...

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American global hegemony is breaking down — here’s what could come next

By Marshall Auerback This post was originally published on AlterNet The breakdown in the Sino-U.S. trade talks has led a number of commentators to suggest that America’s “unipolar moment” of post-Cold War preeminence is over, as Washington lashes out against a rising China, whose economic rise threatens America’s historic dominance. Direct military violence is highly unlikely, given the inherent fragility of high-tech civilization. We therefore may see Cold War–style conflict...

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