Portside

America’s current credit rating masks a fatal contradiction, and a downgrade is the only honest assessment of an empire in decline. The expanding war in Iran and the subsequent crisis in the Strait of Hormuz have fractured global energy supply chain

Federal Reserve chairman Jerome Powell plans to address sky-high inflation by hiking interest rates — acknowledging that doing so will suppress wages and worker power. It's a response that will force workers to bear the brunt of the inflation crisis.