Congress had earlier passed a law forbidding the colony to declare bankruptcy, which states and cities in the U.S. can do. So even though Puerto Rico was bankrupt, it could not declare bankruptcy.
World
Iran protests spark feminist calls for action across Arab world
The enforcement of the hijab and, by extension, guardianship over women’s bodies and minds, are not exclusive to Iran. They manifest in different forms and degrees in many countries.
Greece: A dangerous government, clinging to power by any means
Facing a rough winter, the crucial question is whether the working-class movement and the youth will find the strength for their own independent massive intervention from bellow.
Energy, cost of living and recession
The G7 has agreed to stop buying Russian oil, as part of its programme of using economics sanctions as a war weapon. But up to now, energy imports from Russia have not been stopped because it would mean a catastrophe for the EU countries, particularly Germany.
Chile rejects a new constitution: A preliminary analysis
Among the reasons for the victory of the “No”was the multimillion-dollar campaign of terror and “fake news” the No side mounted. The “No” campaign said the new constitution would establish a chaotic regime of expropriation of private property, including people’s houses…
Pakistan: Destructive floods in a murderous system
Widespread flooding driven by devastating monsoons has affected 33 million in Pakistan—some 15 percent of the population. It includes some 650,000 pregnant women who are in dire need of care in flood-hit areas.
Will global inflation subside?
The recovery from the COVID slump of 2020 has petered out. The world economy is teetering on a slump according to the latest data by JP Morgan economists.
Brazil: A “de-mediated” election
This article, originally appearing in the Uruguayan newspaper Brecha and reprinted by Correspondencia de Prensa, provides a preview of what is likely to be a nasty and hard-fought campaign.
Britain’s summer of industrial discontent
British workers have shown us that solidarity, strikes and class struggle are back on the agenda in the developed capitalist world. Even where unions are relatively weak and their parliamentary organizations hopelessly bankrupt, the working class still hold immense power.
More debt won’t solve Sri Lanka’s debt crisis
The causes of the crisis are clear. Sri Lanka’s economy is unstable and prone to global shocks, with its high dependence upon international loans, and focus on foreign currency-generating export industries.
The new progressive wave in Latin America: Between moderation and an intolerant right
The radical Uruguayan journalist and chronicler of Latin American social movements Raúl Zibechi is much less enthusiastic about new progressive governments. In the article below, Zibechi points out the real constraints, both external and self-imposed, that these governments will face.
Mass struggle in Sri Lanka forces president’s resignation
Hundreds of people streamed into the palace and quickly made themselves at home—diving into his pool, drinking his whisky, working out in his gym and cooking in his kitchen, marveling at the luxuries enjoyed by the man who oversaw the collapse of the country’s finances.
Energy: The recession trigger?
Far from forcing Russia to submit to NATO demands, any oil price cap is more likely to drive the oil price to near $200/bbl. That would trigger a global slump.
Britain: The removal of Boris Johnson – self pitying and delusional to the end
The resignation speech showed how delusional and self-pitying Johnson is. Like the spoilt, entitled rich kid he is, his removal was everyone’s fault but his own.
Japan: the ‘new capitalism’ updated
The Japanese economy contracted in Q1 2022. Record Covid-19 case numbers led the government to introduce quasi-state-of-emergency measures, which along with rising inflation caused private consumption and investment to fall. In Q2, the economy was still struggling.
