Sunday’s move appeared to be the largest single-day action ever taken by the Fed on record.
Government
Mexico to Raise Minimum Wage 20%
This is the second major increase in the minimum wage, which was raised by 16% in 2019.
Pentagon Adjusts $35 Trillion in Accounting Errors for 2019
Poor record keeping caused trillions to be counted multiple times.
Meta-study: U.S. Single-payer Healthcare System Would Reduce Costs
A meta-study of 22 studies examining the potential affects of a single-payer healthcare system on the U.S. economy has shown healthcare spending would fall under the system. Nineteen of the studies found that spending would fall in the first year,… Read More ›
Economists argue anti-tax sentiment in the U.S. stems from history of slavery
They point out exemptions and tax avoidance have created levels of inequality in the U.S. not seen since before the Great Depression.
Nobel prize winning economist calls for end of using GDP as metric of economic performance
He argues it does not capture information needed to fight crises we currently face, including the climate crisis and inequality crisis.
Corbyn exposes Conservative party talks to put NHS “up for sale” post Brexit
The documents reveal the Conservative party has been in talks with the US regarding methods to raise prices paid by the National Health Service to US firms.
Japan overtakes China as largest holder of US treasuries as China sells off
US Treasury Department data show Japan is now the largest holder of US treasury securities with $1.15 trillion.
China was the previous largest holder but has sold off $49 billion in the last year.
Report: States with higher taxes have higher growth and employment
The report by the Institute on Taxation and Economic Policy shows states with higher tax rates fare better on multiple key economic indicators.
Bestselling French economist Thomas Piketty releases plan to phase out billionaires
Piketty argues billionaires are harmful to economic growth and calls for a 90% wealth tax on those worth more than 2 billion euros.
Economic Left 