The US has long been the undisputed worst country in the world in terms of brazen partisanship to the Israeli hard-right. But now, having also been a long-time offender, Australia is looking to decisively cross the finish line in second place.
Another embassy in Jerusalem?
On 16 October, Australian prime minister Scott Morrison announced that he is considering moving the country’s embassy in Israel from Tel Aviv to Jerusalem. Morrison, who replacedMalcolm Turnbull in August, said that no decision has yet been made but that he will be consulting on the matter with his cabinet and other governments around the world.
The US stock market has had a bad week. And it might be the beginnings of something bigger. Because according to some experts, another financial crash may well be on its way soon.
Steepest drop in eight months
On 10 October, US stocks experienced “their steepest drop in eight months”. The Standard & Poor 500-stock index registered its longest string of consecutive losses since November 2016.
US Senator Bernie Sanders has been in the news lately for his role in getting a ‘pay increase‘ for Amazon workers. But his new proposal takes aim at Wall Street bootlicking in Washington, and it would have far-reaching effects on both the US and global economy.
Ending Wall Street’s “free insurance policy” to prevent “catastrophic risk to millions”
On 4 October, Sanders introduced legislation to the US Congress that would break up the country’s largest financial institutions. The proposed law would prohibit them from “holding assets, derivatives and other forms of borrowing worth more than 3 percent of the entire U.S. economy”. Today, that would mean a cap of around $584bn.
A far-right populist candidate won the most votes in the first round of Brazil’s presidential election on 7 October. Jair Bolsonaro of the ‘Social Liberal Party’ (PSL) received 46% of ballots cast.
No first-round winner
According to Brazil’s electoral system, a candidate must win over 50% of the vote to become president in the first round. Therefore, Bolsonaro must face his nearest rival, Fernando Haddad, in a second round of voting. This will take place on 28 October.
On 3 October, The Canary reported on a New York Times article that exposed some embarrassing secrets about President Trump’s financial history. The investigation revealed that Trump’s claim of being a ‘self-made man’ is very questionable, given that he allegedly received hundreds of millions of dollars from his family.
It also provided evidence that a huge inheritance was made possible through shady tax-dodging manoeuvres, some of which may have been illegal. And it discussed how the Trump family fortune was made possible in large part through federal government spending.
US President Donald Trump has worked obsessively to cultivate an image of himself as a ‘self-made man’. But one of the country’s most prestigious newspapers has now brought this narrative into serious doubt.
Reaping riches since the age of three
On 2 October, the New York Times published a ‘Special Investigation’ article titled Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father. The article details how, far from having amassed his (allegedly) huge fortune entirely from his own hard work, Trump actually inherited hundreds of millions of dollars from his father, beginning at age 3.