As the anniversary of 1987 "Black Monday" approaches on October 19, Wall Street remembers one of the most catastrophic events that shook the global financial system. The Dow Jones Industrial Average plunged by almost 23%（508 points）, and the S&P 500 also plummeted more than 20% in a daylong selling frenzy that spread worldwide. It severely tested the limits of the financial system on that day.
As the ominous d...

US Federal Reserve chairman Jerome Powell said his goal is “to get wages down,” complaining workers have too much power in the labor market. Economist Michael Hudson says this is “junk economics,” and corporate monopolies are driving inflation, not wages.
“Wages are running high, the highest they’ve run in quite some time,” the Fed chairman lamented.
Workers need to be disciplined by the labor market, he insisted.
Powell argued, “There’s a path by which we woul...