Licensed Kleptocracy for Years to Come What Went Wrong in the Capitalist Casino? A Philosophical Dead-end The Idiots Who Rule America Why Wont The Bail Out Work? Crisis Allows Us to Reconsider Left-wing Ideas Islamic banking escapes fallout: ISLAMIC banking has largely escaped the fallout from the global financial crisis, thanks to rules that forbid the sort of risky business that is felling mainstream institutions. Layoffs spreading across corporate America: Shock waves from the global financial crisis are now being felt in almost every corner of working America as companies press the eject button on increasing numbers of employees. Homeless numbers 'alarming': More families with children are becoming homeless as they face mounting economic pressures, including mortgage foreclosures, according to a USA TODAY survey of a dozen of the largest cities in the nation.
The ABCs of Paulson's Bailout
By Michael Hudson
Wall Street is in control, but its policies are so shortsighted that they are eroding the underlying economy – which is passing from democracy to oligarchy, and indeed it seems to a bipartisan financial kleptocracy. Continue
By Tony Benn
What we are watching is nothing less than the steady transfer of real political power from the polling station to the market and from the ballot to the wallet - reversing the democratic gains we have made over the last century when we were able, increasingly, to use our votes to shape our economic future. Continue
By Conor Clarke
In 2000 George Bush ran for president as something called a compassionate conservative, which Bush described obscurely as "first and foremost springing from the heart". But the heart, Bush was quick to insist, must be set free. The word "regulations" or its variants crops up 28 times in the 2000 platform, and Bush wasn't asking for more of them. Instead, he was fond of mocking Al Gore for presiding over a regulatory bureaucracy. Continue
By Chris Hedges
Our oligarchic class is incompetent at governing, managing the economy, coping with natural disasters, educating our young, handling foreign affairs, providing basic services like health care and safeguarding individual rights. That it is still in power, and will remain in power after this election, is a testament to our inability to separate illusion from reality. Continue
This is a MUST SEE 7 Minute Video
Voters are rightly furious at the proposal to spend $700,000,000,000 that the government doesn't have to bail out Wall Street bankers who created the current economic crisis in the first place. But why then aren't we concerned about the trillions of dollars the Federal Reserve is pumping into the system? Or the trillions missing from the Pentagon? Or the quadrillion dollar derivatives bubble. Continue
By P Gillespie
The argument is about re-regulation rather than redistribution, the public rather than the private interest, transnational against national sovereignty. Continue
Wednesday, 22 October 2008
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