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Turkey Seeks to Join BRICS to Strengthen Global Influence

[Sep 3 10:30 PM] Turkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s administration views the…

Why Socialism Fails: A Misesian Perspective

[Sep 2 4:30 AM] Socialism, despite its promises of equality and social welfare, inherently fails due to its inability to perform economic calculation and its reliance on coercive control over the means of production. Ludwig von Mises, in his seminal work…

Payments in National Currencies Surge to 92% Among SCO Members

[Sep 1 2:30 AM] Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which…

UBS Predicts Further Weakening of US Dollar

[Aug 31 8:33 PM] UBS predicts further depreciation of the U.S. dollar due to narrowing interest rate differentials, ongoing U.S. fiscal deficit concerns, and a shift in global central bank strategies. Despite a brief rally, UBS has downgraded the U.S. dollar to its…

Nigerian Firms Forecast Further Naira Depreciation

[Aug 24 12:30 AM] A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The…