By Madge Waggy
MadgeWaggy.blogspot.com 

July 8, 2026

Editor's Note

The twenty-first century has introduced a form of confrontation that rarely appears on television screens, is seldom announced through diplomatic declarations, and almost never begins with the spectacle traditionally associated with war. Its progression is quieter, considerably more sophisticated, and arguably more consequential than many conventional conflicts because its primary objective is not the occupation of territory but the gradual acquisition of economic leverage capable of influencing political decisions, technological innovation, industrial production, and ultimately the everyday lives of billions of people.

By Martin Armstrong
Armstrong Economics  

July 8, 2026

The United States has crossed a milestone that Washington has spent decades pretending would never arrive. Federal debt held by the public has now exceeded 100% of GDP for the first time since the aftermath of the Second World War. According to the latest government data, debt held by the public reached approximately $31.27 trillion while the nation's annual economic output totaled roughly $31.22 trillion, pushing the debt-to-GDP ratio to 100.2%.

Geopolitical Economy Hour 76, July 1, 2026, "He Ran the Fed For 18 Years And Left An Economic Time Bomb."

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Radhika Desai:

Hello and welcome to the 76th Geopolitical Economy Hour, the conversation that illuminates the fast-changing political economy and geopolitical economy of our times from a socialist and anti-imperialist point of view, the point of view, that is, of the world majority.

La source s'est tarie. Les recettes fiscales liées aux carburants ont baissé de plus de 80 millions d'euros sur les six premiers mois de 2026 comparées à la même période en 2025, a fait savoir lundi le ministre français des Comptes publics, David Amiel, sur RTL.

Et ce alors qu'avec la guerre en Asie de l'Ouest, les prix de l'or noir s'étaient envolés à partir du 28 février, ce qui rapportait plus à l'État par litre vendu.

US slave interests stifled US monetary and banking policy until 1913

The role of slave states in shaping the U.S. Constitution goes far beyond slavery itself. I want to discuss the distinctively American effect of this states-rights policy for banking and financial policy.

The main aim of the slave states was to block federal power - via the rule of the democratic majority - to take measures to limit or end slavery, and to prevent its westward expansion.

publié le 04/07/2026 Par Olivier Berruyer

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Analyste financier formé sur les marchés à terme parisiens au milieu des années 80, devenu chroniqueur macroéconomique, Philippe Béchade s'est fait une spécialité de débusquer ce que le consensus refuse de voir. Rédacteur en chef de la Chronique Agora et de La Bourse au Quotidien, il livre à Olivier Berruyer pour Élucid un décryptage sans concession d'un système financier qui ne tient plus que par la parole : celle de Donald Trump, celle des banques centrales, celle des grands gérants d'actifs.

Schiff Sovereign  

July 3, 2026

In December 1916, with German and Austro-Hungarian armies closing in on Bucharest, the Romanian government made a decision that must have felt entirely sensible at the time.

Romania had gambled its way into the Great War a few months earlier, sending its army across the Carpathian Mountains to grab Austro-Hungarian Transylvania, believing that Germany and Austria-Hungary were too exhausted to stop them.

And Most People Are Still Living Inside Only One Of Them

By Milan Adams
Preppgroup 

July 2, 2026

EDITOR'S NOTE:This report is based on a growing body of economic indicators, labor market behavior patterns, and on-the-ground observations across multiple U.S. states. While the official economy continues to show stability on paper, independent data sources and field accounts suggest a rapidly expanding informal labor structure operating outside traditional reporting systems.

publié le 02/07/2026 , série initiée le 01/10/2021 Par Olivier Berruyer

En 2025, la France a produit près de 3 000 milliards d'euros de richesses. Pourtant, sa croissance n'a atteint que +0,8 %, sa quatrième année consécutive de ralentissement, obtenue au prix d'un déficit public supérieur à 5 % du PIB. Et si cette croissance était déjà nulle ? Mesurée par habitant et corrigée des biais de mesure de l'inflation, elle pourrait avoir disparu.