Global economy -

Trump ignored by other leaders at G7 Summit

Despite a string of top-level summits, still no end to multiple crises

Walter Chambers S.A. Russia 7 July, 2026

While signing the agreement with Iran, Trump claimed to have prevented a global depression by avoiding a long-drawn out war. Undoubtedly, if the war which Trump and Netanyahu initiated had escalated, the higher prices for oil, gas, fertilisers and other crucial products that transit the Strait of Hormuz would have done serious damage to the economy. But even now, Trump has succeeded in pushing the world to the edge of a new crisis.

SpaceX IPO, and the AI boom – will the bubble burst?

Michael O Brien Solidarity, Ireland 7 July, 2026

The hype, coupled with the anaemic performance of other parts of the economy, has made SpaceX and AI in general a magnet for speculative investment. Without SpaceX and the AI sector, US stock markets would already be in decline. This also partly explains the support for SpaceX from the Trump regime, which is relying on these stock market increases to maintain an illusion of prosperity – at a time when hundreds of millions of ordinary people in the US are feeling an acute cost-of-living crisis.

Elon Musk – a trillion and one reasons to be a socialist

Manus Lenihan Solidarity Ireland 26 June, 2026

This is a double obscenity: first, that one person can amass so much wealth, and second, that this one person is Elon Musk. The truth about capitalism is now more stark and obvious than ever. One myth after another falls apart in the light of the rise of this raving fascist grifter to the position of richest human in all of history.