The Financial Reform Bill, including The Consumer Financial Protection Bureau; the National Commission on Fiscal Responsibility and Reform, more popularly known as the White House Deficit Commission, the Austerity Commission, or the Peterson Commission; the G20 meeting in Toronto; the effort to export the depression.
It’s an old trick to couch a painful reality inside of a flowery platitude. We hear it all the time in our daily lives, and for the most part we know how to read between the lines when someone tries to do it to us.
When your doctor tells you that “This will only hurt a bit,” you know enough to brace yourself for a painful procedure. When your boss tells you he has an exciting new project for you to work on, you know you’re about to get saddled with the job that no one else wants to do. When a salesman tells you a used car is a fixer-upper, you know you’re looking at a lemon.
“When you vote for war, don’t be surprised when you get it.” — Cindy Sheehan
“I will send at least two additional combat brigades to Afghanistan.” — Presidential Candidate Barack Obama
“This war (Iraq) prevents us from tackling every serious threat that we face, from a resurgent al-Qaeda in Afghanistan to a hostile Iranian regime intent on possessing nuclear weapons.” — Candidate Barack Obama
“And if we have actionable intelligence about high-level al-Qaeda targets (in Pakistan), we must act if Pakistan will or cannot.” — Candidate Barack Obama
by Prof. Michael Hudson
Global Research, July 8, 2010
As Europe’s banking crisis deepens, Greece’s and Spain’s fiscal crisis spreads throughout Europe and the US economy stalls, most discussions of how to stabilize national finances assume that only two options are available: “internal devaluation” – shrinking the economy by cutting public spending; or outright devaluation of the currency (for countries that have not yet joined the euro, such as Eastern Europe).
The Baltics and other countries have rejected currency depreciation on the ground that it would delay EU membership. But as most debts are denominated in euros – and owed mainly to foreign banks or their local branches – devaluation would cause a sharp jump in debt service, causing even more defaults and negative equity in real estate. Devaluation also would raise the price of energy and other essential imports, aggravating the economic squeeze.
Update: July 10, 2010 Here’s a Poll to vote in: http://world-news.newsvine.com/_question/2010/05/12/4274124-do-you-support-arizonas-tough-new-law-on-illegal-immigration
Arizona police officers can’t arrest you for not carrying your papers, but if you don’t have them, you can be detained. (06:33)
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Interview by Agnès Rousseaux and Alexandro Rosinha
Jean Ziegler , one of the leading proponents in the world today for justice and the right to food and human dignity for all people, reaches out in particular to the poverty-stricken people in the South. He has been leading a passionate fight over the past few decades against the appalling callousness and blindness of the West, the greed of multinational corporations that run the global financial system of the world. Their only interest is squeezing out maximum profit at the expense of the millions of starving people in the world (Excerpt from the interview: “923 million people, almost one in six people on the planet, is permanently and seriously undernourished, mutilated, rendered invalid by hunger and undernourishment”).
stimulator | July 08, 2010
As environmentalism becomes mainstream, corporations and well funded environmental organizations work hand in hand to divert the public’s efforts into market driven solutions.
With runaway climate change looming in the horizon, we must ask ourselves what are the tactics we are going to use to stop the destruction and take us beyond symbolic gestures.