Will Iraq Be a Global Gas Pump? Can The Economy Recover? How Bad Will the Economy Get? California: the human toll of the economic crisis: At a time when more and more workers, hit hard by job losses and reduced work hours, are in need of assistance, state resources are decreasing. Big broadcaster Sinclair in dire straits: Baltimore-based Sinclair Broadcast Group Inc., which is controlled by David Smith and his family and operates 58 television stations, said if it can't restructure its heavy debt load it will have to file for bankruptcy. The company, which has about $1.3 billion in debt, is trying to negotiate terms on notes of $500 million that are coming due in the next 18 months.
The (Re)Making of a Petro-State
By Michael T. Klare
Has it all come to this? The wars and invasions, the death and destruction, the exile and torture, the resistance and collapse? In a world of shrinking energy reserves, is Iraq finally fated to become what it was going to be anyway, even before the chaos and catastrophe set in: a giant gas pump for an energy-starved planet? Will it all end not with a bang, but with a gusher? The latest oil news out of that country offers at least a hint of Iraq's fate. Continue
By Paul Craig Roberts
There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.” Continue
Really, Really Bad
By Thomas Greco, Jr.
Historically, every financial and economic crisis has been used to further centralize power and concentrate wealth. This one is no different, and in fact the moves being promoted by the Obama administration and the central banks of the Western powers will take the whole world to the pinnacle of financial despotism -- unless enough people wake up and claim their own "money power.” Continue
Thursday, 16 July 2009
Posts
