Greece sinks in deeper crisis amid rescue deal doubts: Greece could be forced to leave the eurozone if it fails to abide by EU and IMF loan commitments, a government economic advisor warned Wednesday as Athens raised prospects of renegotiating a bailout deal. A Lesson from Iceland: In Iceland, the people has made the government resign, the primary banks have been nationalized, it was decided to not pay the debt that these created with Great Britain and Holland due to their bad financial politics and a public assembly has been created to rewrite the constitution. Protests mark Bank of America meeting; 4 arrested: Four people were arrested Wednesday as they tried to force their way into the annual Bank of America shareholders' meeting in Charlotte. Police used a new ordinance to declare the gathering an extraordinary event subject to special restrictions. Germany to Greece: No austerity, no aid: On Tuesday, the leader of the Left Coalition party, which benefited from rising anger over austerity to take second place in Sunday’s poll, declared Greece’s policy pledges under its EU/IMF rescue null and void. House GOP Plans To Cut 25 Percent From Programs ‘Directly Benefiting The Poor’, To Protect Military Budget: The Republican-led House this week will takes up legislation to slice $261 billion from food stamps, Medicaid, social services and other programs for struggling Americans over the next decade to stave off more than $50 billion in military spending cuts scheduled to take effect next year. 100 Million Working Age Americans Do Not Have Jobs: The federal government considers those Americans to be “not in the labor force” so they are not included in the unemployment rate. In fact, this is one of the key ways that the government manipulates the unemployment numbers. The 86 million invisible unemploye: Chart: Young people between 16 and 24 make up another fifth. More than half don't have a college degree and more than two thirds are white. Many Fortune 500 Firms Pay Less in Income Taxes Than You: American citizens collectively pay higher income tax rates than General Electric, Boeing, DuPont, and countless other companies. Consumer Credit Soars As US Government Encourages Student, Car Loan Bubbles: The total non-revolving debt is now $1.739 trillion: an all time record. As for the source of such debt? why the US government of course, in what is the supreme ponzi scheme Britain faces worst recession since 1930s: , “The economy is weaker relative to its pre-recession peak than at the corresponding stage of the depression in the early 1930s”. The real culprit in U.S. jobs crisis: Government cuts : From the end of the recession in June 2009, state and local governments have cut more than 800,000 jobs. Private employers have created almost three million positions, including more than 200,000 in manufacturing, an industry that had been left for dead.
Thursday, 10 May 2012
By Michael Snyder
Most analysts will tell you that they think that it is inconceivable that Germany could leave the euro. But stranger things have happened.Continue
Capitalism in the Second Decade of the 21st Century
By James Petras
Capitalist rule in the West is based on a reversal of seventy years of social gains. The reality of growing immiseration replaces the idea of social progress. Continue
By Glenn Greenwald
When a band of Roman traitors was uncovered, he urged they not be killed due to the precedent it would set. Continue
By Andy Worthington
While people like Jose Rodriguez remain free to peddle their lies and distortions about torture, and to profit from it, America’s name not only continues to be tarnished, but the American public also continue to be shamefully misled. Continue
By James Bamford
What will be going on within the top-secret walls of the $2 billion Utah Data Center? The answer...surveillance - but not just surveillance - we're talking the biggest spy center this nation has ever seen. Continue
By LA Times
Warning - Video Contains Scenes Of Shocking Police Violence
The sounds of the baton and a fist hitting the homeless man can be heard on an audio recorder that one of the officers had on his belt. Several spectators in the courtroom left during the video, and the judge paused it at one point as people in the crowd groaned. Continue
On the History of the US Economy in Decline
By Noam Chomsky
For many people in the United States, there’s a pervasive sense of hopelessness, sometimes despair. I think it’s quite new in American history. And it has an objective basis. Continue
By Patrick Martin
Big business is the cause of the economic crisis confronting tens of millions of working people, not the solution. Continue
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