Friday, 15 July 2011


By Mike Whitney

Barack Obama stormed out of a meeting with Republican leaders on Wednesday when negotiations broke down over raising the $14.3 trillion debt ceiling.



By John W. Whitehead

It’s not the sick, the elderly or the poor who are stealing us blind and pushing America towards bankruptcy.



Prisoners Near Death As 1,700 California Inmates Continue Hunger Strike To Protest Appalling Conditions: A hunger strike started by prisoners at Pelican Bay to protest appalling conditions has spread across California as inmates at 13 prisons joined in solidarity

Man Jailed For Banking While Black: He lost his job, his car was towed and sold and Chase has yet to provide an apology and compensation.

Italian austerity budget passes Senate: The deficit-reduction package is a mix of revenue-raising measures, such as higher hospital fees and a tax on holdings of state bonds, and cuts in spending by the central and local governments that come mainly into force in 2013 and 2014. A freeze on public sector wages and hiring will be extended by a year.

Italy to allow rape of citizens investments: Italy eyes privatization as market tension eases: The Italian government bolstered an austerity package on Wednesday with plans to sell stakes in state-owned companies, and political consensus on debt-cutting measures helped calm nervous markets.

Euro plunges deeper into crisis as Greece's credit rating slashed to 'junk': Credit rating agency Fitch yesterday indicated it expected the Greek government to default on its loans, cutting the country’s rating from B+ to CCC.

Nikkei down after Moody's US debt warning, support holds: Moody's said it may cut the United States' triple-A credit rating, sending the dollar near four-month lows and pressuring exporters.