US Senate hearing uses child sexual exploitation as pretext for state control of social media content
By Kevin Reed. The hearing by the Senate Judiciary Committee on Wednesday set a new bar for right-wing hypocrisy and grandstanding as Democrats and Republicans came together to push for censorship and government control of social media content under the guise of fighting online child sexual exploitation. The Senate Judiciary Committee hosted
ATB driven by class hate, will be used against working class fighting austerity: Submissions to Court against ATB – Part 03
Our Reporter. This is the Part 03 of the article we commenced posting on Tuesday (30), detailing the submissions made to Supreme Court of Sri Lanka against the Anti-Terrorism Bill, challenged by PTA victim poet Ahnaf Jazeem. Read Part 01. Read Part 02. Testing Constitutionality Jayasekera also submitted to court that the standard
Debt repayments by low-income nations record high
By Nick Beams The genocide in Gaza, where bombs rain down every day killing thousands, destroying schools, hospitals and refugee centres and pulverising the facilities and resources necessary for life, leading to starvation and disease, is only the most egregious form of capitalist-imperialist violence against the world’s people, against life itself. Another
US financial system a “minefield of vulnerabilities”
By Nick Beams. Those pondering why the US Federal Reserve made a sudden and dramatic turn away from its previous insistence that monetary policy would need to remain restrictive, will find some of the answers in the latest annual report of the Financial Stability Oversight Council (FSOC). In its report, issued the
Question mark raised over the world’s most important financial market
By Nick Beams. The current edition of the Economist, one of the world’s leading financial magazines, carries an extraordinary headline. It poses the question: “Is the world’s most important asset market broken?” The article deals with significant problems in the $25 trillion US Treasury market where government debt is bought and sold, and which
Sri Lanka’s debt trap and the vultures
By Michael Roberts Last week a US district court granted Sri Lanka’s request for a six-month pause on a creditor lawsuit against the country. Hamilton Reserve Bank holds a big chunk of one of Sri Lanka’s now-defaulted bonds and had been suing it for immediate repayment. The court decided that
The bond market turmoil: The social implications
By Nick Beams The headline financial news this week, announced on Wednesday afternoon, was the US Federal Reserve decision to maintain interest rates on hold for the second meeting in a row. But a more significant decision came that morning with the move by the US Treasury to slow the pace
Sri Lanka Appeal Court affirms its non-interference with the government’s economic and restructuring policies, particularly during financial crisis
Sathosa Employees' compulsory retirement case By Staff Writer The Court of Appeal of Sri Lanka dismissed and refused to issue notice in a case brought by several employees of the "Sathosa" against government compulsory retirement scheme (CRS). The order (in C. A. Writ No. 548/2023) was made on October 03 by
UK anti-strike Minimum Services law to be used against teachers
By Tania Kent The Department of Education (DfE) met with trade unions last Friday following an “invitation” by Education Secretary Gillian Keegan to discuss a “voluntary” agreement to limit industrial action in schools and colleges. If no agreement is reached, Keegan told Parliament the same day, she will use powers granted through
Argentine elections expose political rot and the growing threat of fascism
By Andrea Lobo As Argentina faces mass poverty, its worst economic crisis in two decades and triple-digit inflation, one of the main officials responsible, Economy Minister Sergio Massa, placed first in Sunday’s presidential elections with 36.7 percent of the vote. In a runoff next month, he will face the fascistic libertarian