Economics

A lot of people were expecting some really big things to happen in 2015, and most of them did not happen. But what did happen?  It is my contention that a global financial crisis began during the second half of 2015, and it threatens to greatly accelerate as …

While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US.  Poverty also kills.  At …

Nikolay Pakhomov The current outbreak of animosity between Russia and Turkey has had many consequences. One consequence, in the economic sphere, has repercussions far exceeding bilateral ties: a project to deliver Russian natural gas—first to Turkey and then to Europe—has been put on hold. This project, known as …

Merve Sebnem Oruc On 2 August, 1990, Iraqi forces blew into Kuwait. The main reason for the Iraqi invasion of Kuwait was economic; Iraq couldn’t pay its huge debts after eight years of war with Iran. Saddam Hussein accused Kuwait of overproduction of oil from the two countries’ …

Low oil prices are eating into defense spending in the Gulf region, one of the world’s largest arms markets, with budgets trimmed for the first time in a decade this year and deeper cuts expected in 2016, according to a report published on Thursday. Overall spending fell to …

Mahdi Darius Nazemroaya Because of the Turkish government’s role in the multi-spectrum US-led war against the Syrian Arab Republic, a war of words has ignited between Ankara and Moscow. Russia, however, is not alone in accusing Turkey of being involved in the theft of Syrian and Iraqi oil. …

Scarcely heard amid the guns of Ukraine, the South Stream pipeline, which the Russians want to build through southern Europe to circumvent Ukraine, is still gurgling along in the background. The FT tries hard to hide its glee behind a facade of philosophical twaddle centered around the notion …

Recent meeting between Turkey’s President Recep Tayyip Erdogan and Qatari Emir Sheikh Tamim bin Hamad Al Thani gave rise to a new rhetoric in Turkey: Turkey will be able to meet any shortfall in Russian gas supplies with new imports of Qatari liquefied natural gas (LNG). Any new LNG contracts signed with Qatar, …