RISE OF THE REST
The Challenges of the New World Order Der Spiegel
By Wolfgang Nowak
America is no longer up to shouldering the world’s crises. But who is going to take its place? Russia, Brazil, China and India are all rising, but they are also competing with Europe and the US for finite natural resources. Only a common future — a “change through rapprochement” and not a “clash of futures” can carry us forward. Read the rest of this entry »
Archive for the ‘Financial crisis’ Category
The financial system established in England after 1688, based on usurious lending to the state by private bankers, is reaching its final blowout in the form of a series of devastating bubbles and a massive bailout of the financiers with public money. But the issuance of money doesn’t have to be in the hands of a private consortium: another credit system is possible.
The Rise of the Rest
Posted by smeddum on October 3, 2008
Posted in Financial crisis, Multipolar world | Leave a Comment »
Bailout Bedlam: Robbing the Taxpayers to Save the Banks
Posted by smeddum on October 2, 2008
Bailout Bedlam: Robbing the Taxpayers to Save the Banks
by Ellen Brown
Global Research, October 2, 2008
“Doesn’t this seem like lunacy to you? The consequences of it are unbelievably bad in terms of public intrusion into the private sector. Is anybody thinking there? It’s too late, it’s not going to make any difference, and it’s aggravating as hell when there’s a better idea and you can’t even get it in play.” Former Treasury Secretary John O’Neill in an October 1 interview with Bloomberg on the bank bailout plan Read the rest of this entry »
Posted in Financial crisis | Tagged: Add new tag, bailout swindle, no bailout, stop the bailout | Leave a Comment »
Financial Tsunami: The End of the World as We Knew It
Posted by smeddum on October 1, 2008
Financial Tsunami: The End of the World as We Knew It
by F. William Engdahl
Global Research, September 30, 2008
The unexpected rejection by the US Congress of the Bush Administration financial rescue plan, TARP on September 29 has opened up the spectre for the first time of a 1931-style domino wave of worldwide bank failures. That is already underway across the US banking spectrum with the failure, nationalization or forced liquidation in the past two weeks of Fannie Mae and Freddie Mac, of the giant Washington Mutual mortgage lender, of the nation’s fourth largest deposit bank, Wachovia. That was on top of a wave of smaller bank failures that began with IndyMac in the spring. For some it is appealing and more simple to grasp the magnitude of these titanic events in the US-centered financial world by assuming it is all part of a pre-planned grand conspiracy by the Money Masters, what in the 1920s in the USA was termed the Money Trust, to control the entire financial world. Read the rest of this entry »
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What Wall Street Hoped (and hopes) to Win
Posted by smeddum on October 1, 2008
What Wall Street Hoped to Win Counterpunch
By PAM MARTENS
“I got a lot of Ph.D. types and smart people around me who come into the Oval Office and say, ‘Mr. President, here’s what’s on my mind.’ And I listen carefully to their advice. But having gathered the device (sic), I decide, you know, I say, ‘This is what we’re going to do.’ And it’s ‘Yes, sir, Mr. President.’ And then we get after it, implement policy.”
— President George W. Bush, October 3, 2007
Pity poor President Bush. He’s been pushed aside as The Decider. The Decider’s strut and press entourage, along with the coffers of the United States, were to be handed to Henry M. (Hank) Paulson, U.S. Treasury Secretary, who was to have sweeping authority to share newly augmented plunder with his cronies on Wall Street and set up a vast new bailout bureaucracy, all at taxpayer expense. Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout, bush, Poulson | Leave a Comment »
Rogue Trading: Britain mulls matching Irish bank guarantee
Posted by alfied on October 1, 2008
The Irish pledge on Tuesday to guarantee the country’s banking system triggered a flood of cash from businesses to Irish banks, a senior Irish stockbroker said.
More good news for Gordon as early evidence suggests that British businesses and savers are hotfooting it across the Irish sea to lodge their hard earned in Irish Banks. Time will tell, but by taking this huge risk Ireland may have safeguarded it’s banks short-term future and, at the same time, dealt a fatal blow to the British banking system and the pound.
This thought will bring a smile to a lot of Irish eyes. Read the rest of this entry »
Posted in Financial crisis | Tagged: Irish Bank Guarantee, Irish rogue trading | Leave a Comment »
Latin America leftists slam U.S. on financial crisis
Posted by smeddum on October 1, 2008
Latin America leftists slam U.S. on financial crisis
Tue Sep 30, 2008 5:37pm EDT Reuters
(Adds Lula, context, byline)
By Fernando Exman
MANAUS, Brazil, Sept 30 (Reuters) – Latin America’s leftist leaders on Tuesday accused the United States of “irresponsibility” in its handling of the financial crisis that has pummeled markets and threatens economies around the world. Read the rest of this entry »
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Financial crisis: IMF chases its own tail
Posted by smeddum on September 30, 2008
Financial crisis: IMF chases its own tail
NEWS|BRETTON WOODS PROJECT|29 SEPTEMBER 2008|UPDATE 62|URL
As global finance dries up, economic markets crash and banks go bust, criticisms mount of the IMF and its inability to convince its largest members to better regulate the financial sector or curb speculation. Read the rest of this entry »
Posted in Financial crisis | Tagged: IMF, IMF inactivity | 1 Comment »
HBOS HANGING BY A THREAD
Posted by alfied on September 30, 2008
By FT Reporters
Shares in HBOS, the UK’s largest mortgage lender, fell sharply on Tuesday, prompting speculation among investors that Lloyds TSB may attempt to renegotiate the terms of its £12bn agreed takeover announced last week. Read the rest of this entry »
Posted in Financial crisis | Tagged: End of HBOS | Leave a Comment »
BAIL OUT THE PEOPLE, NOT WALL STREET BANKERS!
Posted by alfied on September 29, 2008
Tell President Bush, Candidates Obama and McCain, Members of Congress,
Treasury Secretary Paulson, Federal Reserve Chairman Bernanke, and members of the media:
Bail Out Main Street NOT Wall Street! Read the rest of this entry »
Posted in Financial crisis | Tagged: stop forclosure | Leave a Comment »
Dollar Intervention Risk `Meaningful’ on Volatility
Posted by smeddum on September 29, 2008
Dollar Intervention Risk `Meaningful’ on Volatility (Update2)
By Ye Xie
Sept. 29 (Bloomberg) — A growing number of currency traders and strategists are starting to speculate that finance ministers from the world’s biggest economies will join to support the dollar. Read the rest of this entry »
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Canada’s Harper Joins G-7 Chorus, Pins Crisis on U.S.
Posted by smeddum on September 28, 2008
Canada’s Harper Joins G-7 Chorus, Pins Crisis on U.S.
By Theophilos Argitis
Sept. 28 (Bloomberg) — Canadian Prime Minister Stephen Harper said U.S. policies helped create the crisis in financial markets, adding to criticism from other Group of Seven leaders and saying there’s little his government can do to help. Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: bailout, canada, economy, G8, politics, Stephen Harper | Leave a Comment »
In These New Times 