Category: Capitalism

Portugal’s bid to attract foreign money backfires as rental market goes ‘crazy’

Portugal’s bid to attract foreign money backfires as rental market goes ‘crazy’

This isn’t just happening in Portugal. The financialization of housing is an issue in many countries and cities. However, the benefits need to be considered and how anf whethet locals are sharing in on the benefits. https://www.theguardian.com/world/2023/jul/29/portugals-bid-to-attract-foreign-money-backfires-as-rental-market-goes-crazy?CMP=Share_AndroidApp_Other

In charts: how privatisation drained Thames Water’s coffers

In charts: how privatisation drained Thames Water’s coffers

On the dangers of privatising a critical service. And the UK has done it about as bad as you can imagine. Poor regulation combined with highly indebted water provider owned by private equity sowed the seeds for an epic disaster. https://www.theguardian.com/business/2023/jun/30/in-charts-how-privatisation-drained-thames-waters-coffers?CMP=Share_AndroidApp_Other

America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns – CNN

America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns – CNN

A stark warning from Fitch. Though there is no risk of something replacing the dollar as the world’s reserve currency, that is a necessary but not sufficient condition to avoid fallout from the US debt ceiling debate. https://www.cnn.com/2023/03/06/economy/us-credit-rating-fitch/index.html