China Paper Urges New Currency Order After "Financial Tsunami" America and China Joined at the Hip In Case You Missed It Socialism or Barbarism No Bull You've Been “Shafted” (Again) The MSM Jumps on the Economic Bandwagon In Case You Missed It Senate Passes $612 bln Defense Spending Bill
By Reuters
Threatened by a "financial tsunami," the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.Continue
By DAVE LINDORFF
With the government now having spent over $800 billion in less than a year shoring up tottering financial companies that had become little more than casinos (and rigged ones at that), America is looking increasingly like China, a country where the state has been gradually getting out of the business of directly owning companies. Continue
The Meaning of the Collapse of Lehman Brothers
By Sam Marcy
The following article, written by Workers World Party chairperson Sam Marcy in the April 26, 1984, issue, holds tremendous lessons today as a growing number of Wall Street firms are collapsing with no end in sight. The root cause of the Lehman Brothers’ crisis 24 years ago was attributed to its merger with Shearson/American Express. Continue
By Frank Scott
While the dreadful Bush regime nears its end, the policies in place since long before it took power will continue destroying the American empire no matter which new gang attempts to control the crumbling operation. But so long as major media serve as stenographers for establishment power, the public will continue to be treated as preschool children and given naps between sweet treats and nursery rhymes. In fact, if we let under paid child care workers take over our government and media, we’d all be much better served. Continue
On Ethics, Deregulation and Financial Chaos
By William A. Cohn
US government policy has encouraged recklessness – most recently by taking extraordinary measures to privatize gains while socializing losses. As part of the agenda of its so-called ownership society (excepting ownership of responsibility by powerful bankers and insurers who fail) the govt. even sought to privatize public obligations – recall the Bush proposal to privatize social security. So why not play fast and loose if the rules are heads I win tails you lose?Continue
By Larry Dorshkind
The ultimate tax obligation of your family figure is humongous? Just to give you a little sense of the scale, though, the present $9.5 trillion National Debt works out to be $38,000 per person (based on 250,000 Americans who can be expected to pay taxes). Therefore, for your 6-member family unit, your obligation for the current National Debt is $228,000. Continue
By Kathy Sanborn
So the US economy is on the brink? Yawn. Tell me something I didn’t know at least two years ago. Now the mainstream media have been given the green light to announce, bold as you please, that we are in for some pretty tough times, but Internet news and blog readers have known about our faltering financial system for a long, long time. Now, in the mainstream press, it has become popular to state the obvious: the country is broke. Continue
Corporations Not Paying Income Tax
By LYNNLEY BROWNING
Two out of every three United States corporations paid no federal income taxes from 1998 through 2005, according to a report released Tuesday by the Government Accountability Office, the investigative arm of Congress. Continue
By Jim Wolf
The U.S. Senate on Wednesday overwhelmingly approved a $612.5 billion defense spending bill for fiscal 2009, including $70 billion for operations in Iraq and Afghanistan. As passed on an 88-8 vote, the measure would authorize $103.9 billion for Pentagon procurement, $1.2 billion more than President George W. Bush's request. Overall, Bush had asked for $611.1 billion for national defense. Continue
Thursday, 18 September 2008
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