Runaway Inflation or Glass-Steagall?

The second panel dealt more directly with the world food crisis and the urgent need to build infrastructure throughout the world, emphatically including the United States. It opened with an excerpt from a speech by Lyndon LaRouche in September 1994, dealing with precisely that issue. Diane Sare, who is now running as a LaRouche Party independent candidate for U.S. Senate […]

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Principles of Science for Durable Economic Progress

The speakers on Panel III presented many aspects of science from the perspective of economic progress, and the necessity for creative breakthroughs to advance both. Moderator Stephan Ossenkopp, speaking from Berlin, began with an update on the latest insanity on energy policy in Europe, counterposing that mentality to the exciting prospects offered by China’s Belt and Road Initiative. Jason Ross, […]

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Classical Culture and the Dialogue of Civilizations

The final panel of the Schiller Institute conference began with two musical examples of classical beauty — a video performance of the Kyrie from Wolfgang Mozart’s Requiem, by the Schiller Institute chorus from 2014; and a 1990s performance by the late operatic tenor George Shirley of the Spiritual Little Boy, arranged by Roland Hayes. The speakers who followed presented different […]

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How the West Can Break out of Its Isolation

The overriding issue in the world today is whether the United States and Europe can be brought into the growing dynamic in favor of a new paradigm in international relations, together with a financial system oriented to real economic development and the general welfare. That dynamic is being spurred by the so-called Western powers themselves in their desperate efforts to […]

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Central Banks Raise Rates, But They Can’t Control Inflation

The timid interest rate hikes by the Federal Reserve and the European Central Bank sent global stock markets into a free fall last Friday and again this week, but they won’t stop the hyperinflationary spiral. Not because current inflation has nothing to do with the money supply, but exactly the opposite. True, energy and energy-related prices account for 80% of […]

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Time For Glass-Steagall, Not Monetary Alchemy

A related issue is the ECB announcement of an end to the APP (Assets Purchase Program) on July 1. So far, the APP has guaranteed monthly ECB purchases of sovereign debt in the Eurozone, thus guaranteeing the stability of the euro. The announcement has immediately sent the spread between German and peripheric yields close to the unsustainability threshold. The ECB […]

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Joe Biden Is Catastrophically Wrong on Inflation

On June 3, following a meeting between Joe Biden and Federal Reserve chairman Jerome Powell, the U.S. President stated that fighting inflation is his “top economic priority.” He blamed the soaring rate of inflation on two factors : the fact that the U.S.has entered “the most robust recovery in modern history” and “Putin’s price hikes” (conveniently scapegoating Russia for his […]

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French Legislative Elections: the Real Challenges Lie Ahead

As expected, the real winner in the first round of the French legislative elections, on June 12, was the abstention party, which reached an absolute record of 52,49% (51.3% in 2017).There were also half a million invalid ballots. The real surprise was that Emmanuel Macron’s party Ensemble, and Jean Luc Mélenchon’s NUPES received, according to the government’s figures, practically the […]

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Indian Foreign Minister to Europe: “Eurocentrism Is Dead”

Dr. Subrahmanyam Jaishankar, India’s External Affairs Minister, had some very blunt words for Europe in his address to the GLOBESEC 2022 Bratislava Forum on June 3, as part of his four-day tour of NATO allies Slovakia and the Czech Republic. Defending his country’s foreign policy decisions, he refuted the idea, pushed very undiplomatically by the Europeans and the U.S., that India […]

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Summit of the Americas — an Embarrassing Flop for the U.S.

It could have been a great opportunity for the United States to step forward in a spirit of collaboration and friendship to forge comprehensive emergency and long-term agreements to address the problems in the Western Hemisphere, including deepening global economic political and social turmoil. Instead, the Biden-Harris administration presided over a dismal flop at the Summit of the Americas, held […]

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