Portside

A new report by Standard & Poor's, one of the country's Big Three credit-rating agencies, points to increasing income inequality and the danger it poses to continued U.S. economic growth. In its report,. "How Increasing Income Inequality is Dampening U.S. Economic Growth, And Possible Ways to Change the Tide," S&P cites "all sorts of nasty" economic and political problems that flow from this growing inequality, but few solutions.

In moves likened to the privatization of East Germany’s state-owned enterprises following unification, international finance has placed the privatization of Greece's public sector, one of the most developed in Europe, in the hands of the Hellenic Republic Asset Development Fund (TAIPED). This "extra-legal organization" has close ties to the banks and no accountability for the impact of so-called austerity measures on Greece's increasingly impoverished population.