It was a Thursday in August when all hell broke loose. The place was Logan County, West Virginia. The year was 1921. Over the next week, one million rounds of ammunition would be fired. Up to a hundred people were […]
How the History of Class Struggle is Written on the Stock Market
taken from ill will editions As Year 2 of the Age of the Pandemic begins, the final battle between humankind and unfettered capitalism is turning ugly: the noose is tightening around our necks. The privatization of everything has been the
But while some claim that there is nothing new under the sun, in an interesting turn of events over the last few day of January 2021, some hedge fund managers on Wall Street became the ‘unusual suckers’, losing billions of
GameStop Capitalism Wall Street vs. The Reddit Rally (1)
Last week there was short-term turbulence on the stock markets due to the GameStop event. Actually, apart from a few slumps, the price trends on the stock markets have only known one direction in recent years, namely upwards. If, due
Debt excess, GameStop turbulence, zombie companies and future (Corona) crises
… As I argue in an article that was recently published in Economy & Society, states can potentially exercise a considerable degree of control over financialization, thereby shaping its very form. What we can hence observe is a ‘financialization with
Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not
A CasP Model of the Stock Market
If you listen carefully, you can hear Jeff Bezos getting richer. There’s the sound again. Another billion in Bezos’ coffers. Let’s put some numbers to this sound of money. Since 2017, Bezos’ net worth has grown by about $4 million
Stocks Are Up. Wages Are Down. What Does it Mean?
Until a few months ago, the stock market narrative in the United States could have been summarized by the popular acronym BTFD – or ‘buy the fucking dip’. Analysts and strategists, emboldened by the world’s synchronized recovery, Trump’s pro-business policies
As these lines are being written (April 2018), the U.S. stock market is again in turmoil. After a two year bull run in which share prices soared by nearly 50 per cent, the market is suddenly dropping. Since the beginning
With their back to the future: will past earnings trigger the next crisis?
As the Dow plummeted in the previous week, the far Right in the US has leaned in to ‘Jewish banker’ conspiracy theories. By that view, Goldman Sachs is sabotaging Making America Great Again. Some on the Left have echoed the
Stock market falls and fascism
ABSTRACT: The presidential election of Donald Trump has rekindled hopes for a U.S. recovery. The new president promises to ‘make America great again’, partly by creating many millions of new jobs for U.S. workers, and judging by the rising stock
Can Capitalists Afford a Trumped Recovery?