Black Tuesday and a Return to Big Government Rhetoric and Reality Empire of Illusion Stories of Mexico's Displaced Iceland can't afford a Big Mac: Iceland to be McDonald's-free: operator: Iceland's two McDonald's restaurants will close on November 1 due to rising costs brought on by the country's economic collapse, the Icelandic operator of the US fast-food chain said on Monday. UK financial system 'not able to support recovery': Britain's financial sector is not equipped to support recovery when it comes and could trigger a double-dip recession if not fixed, the newest recruit to the Bank of England's Monetary Policy Committee (MPC) warned yesterday. Wall Street's Naked Swindle: A scheme to flood the market with counterfeit stocks helped kill Bear Stearns and Lehman Brothers — and the feds have yet to bust the culprits Marc Faber, Dollar Will Eventually Go to Value of Zero: 4 Minute Video Roubini Says Carry Trades Fueling ‘Huge’ Asset Bubble: Investors worldwide are borrowing dollars to buy assets including equities and commodities, fueling “huge” bubbles that may spark another financial crisis, said New York University professor Nouriel Roubini. U.S. bank chargeoff rate exceeds Depression: Moody's: The rate of loan charge-offs by major U.S. banks has exceeded those seen in the early years of the Great Depression as the credit crisis continues to take a toll, Moody's Investors Service said on Monday. Worsening job picture fuels slide in confidence: Consumer confidence slides in October as more Americans worry about jobs and salaries
By Mike Whitney
October 29, marks the 80th anniversary of the Stock Market Crash of 1929, the event which most historians point to as the beginning of the Great Depression. On Black Tuesday, traders dumped 16 million shares in one day sending the markets into freefall. In the months that followed, stocks rallied--sometimes for long periods at a time--but the underlying economy continued to deteriorate as consumers curtailed spending and cut back sharply on credit.Continue
By Ralph Nader
I just received a letter from President Obama. Right there on the outside envelope are the words “I need you.” After not answering several letters which I have mailed and faxed to him, I was, for the briefest of moments, curious about this personal plea for help. Continue
The Cult of Self
This is a must watch - By Chris Hedges
Click to view
A Talk by Paola Gutierrez Galindo
Why do millions make the unlikely decision to leave their communities to live in a country with increasing anti-immigrant hostility? Why did the number of Mexicans who made this decision more than double after the implementation of NAFTA? Paola will untangle the complex factors that have pushed so many to abandon her community and come live among ours. Continu
Wednesday, 28 October 2009
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