Posted by smeddum on February 5, 2009
DUBLIN — At 2 a.m., with time for compromise running out, the Irish prime minister finally presented his emergency plan for the floundering economy to the country’s trade union leaders. Read the rest of this entry »
Posted in Financial crisis | Tagged: Battle for Europe | 1 Comment »
Posted by seumasach on February 5, 2009
Cailean Bochanan
Glasgow, Scotland
5th February, 2009
“Our revels now are ended. These our actors,
As I foretold you, were all spirits, and
Are melted into air, into thin air:
And like the baseless fabric of this vision,
The cloud-capp’d tow’rs, the gorgeous palaces,
The solemn temples, the great globe itself,
Yea, all which it inherit, shall dissolve,
And, like this insubstantial pageant faded,
Leave not a rack behind. We are such stuff
As dreams are made on; and our little life
Is rounded with a sleep.”
The Tempest- William Shakespeare
A flurry of protest has broken out as the depth of the crisis becomes clear for all to see. And it can only get worse as the temple of neo-liberalism, the whole structure of the empire of fraud, begins to crumble returning to the shifting sands on which it was constructed. This is no transient economic crisis, rather it is the collapse of an illusory world of prosperity, a delusional bubble whose expansion is inversely proportional to real wealth creation. The UK , amongst the European powers, is the one which most typifies this parasitic nirvana, a nation which only a short while ago seriously thought it could count its wealth on the basis of the price of its real estate, the exploits of its city financiers and, incredibly, the strength of Sterling. But it is more widely, a ”Western” phenomena, a malaise of the peoples of Europe who have not yet, for all their culture, been able to cast off that assumption of privilege and primacy, consistent with our status as the world’s great imperialists, and have been lured by the promise of eternal well-being, of living life as a dream, as of by right.
Posted in Revolution in Iceland | Tagged: Battle for Europe, Multipolar world, Revolution in Iceland | 1 Comment »
Posted by smeddum on February 5, 2009
Consumer groups and trade bodies expressed anger at the latest 0.5 per cent reduction, arguing that it penalised savers, while doing little to help the majority of borrowers. Read the rest of this entry »
Posted in Financial crisis | Tagged: assault on savers | Leave a Comment »
Posted by smeddum on February 5, 2009
February 5, 2009
By Paul Anderson
For some the idea that China can “decouple” from the US is blasphemous. Indeed, China has no immediate intention of depegging from the dollar. Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: China, End of empire | Leave a Comment »
Posted by seumasach on February 5, 2009
4th February, 2009
Our third in a series of interviews featues Icelandic singer/songwriter and activist Hördur Torfason. He is the man behind Raddir fólksins [Voices of the People], a grassroots organization that has planned Saturday demonstrations in downtown Reykjavík since last October. It is largely due to his tireless work and perseverence over the past few weeks that the Icelandic people were able to force, through protests, the recent change in government.
IWR: How are you feeling, now that the protests have produced the desired results?
HT: I feel many things … on the one hand I’m elated that some of our demands have been met, and happy about this major victory that intensive planning and perseverence have brought about. On the other hand I am absolutely exhausted. It’s been a massive comedown in the last few days. I normally sleep six hours a night; I’ve been sleeping 12 a night and I’m still tired.
IWR: When you started, did you imagine that things would turn out this way?
HT: I had nothing specific in mind. The first Saturday of the demonstrations I just stood out on Austurvöllur with an open microphone and invited people to speak. I talked to people, listened to people, wrote things down. I was indignant … I felt that my human rights were being violated, in that a few people could bankrupt my country in this way and put me and my fellow citizens into such massive debt.
The following Saturday we had our first organized demonstration. However, I was uncomfortable with it because it focused on only one individual, making one person responsible for the entire debacle.* To me it was important for the demonstrations to reflect as many opinions and viewpoints as possible, that they truly be the Voices of the People, and not a platform for political or religious organizations. It’s been a constant effort to keep away groups that have wanted to infiltrate the movement. It has become a major draw for them when they see how successful the demonstrations are.
At the beginning of the demonstrations there was a lot of unfocused anger around, as people tried to come to grips with what had happened. Our demands really took shape on the third Saturday, as we began to gain a better focus. They were: RÍKISSTJÓRNINA BURT! [away with the government!], STJÓRN SEÐLABANKANS BURT! [away with the Central Bank’s board!], STJÓRN FJÁRMÁLAEFTIRLITSINS BURT! [away with the board of the Financial Supervisory Authority!], and KOSNINGAR EINS FLJÓTT OG AUÐIÐ ER! [elections asap!]. That is also when Raddir fólksins was formally established.
IWR: With the recent changes, what will happen to the protests? Will the Saturday demonstrations continue?
HT: I think protests will continue because I feel that we need far more radical changes than we have seen thus far. The changes have to be made so we do not fall back into the same old pattern. The forces of corruption must be eliminated. Our entire system is decayed and needs to be completely rebuilt. Besides, one of our demands has not been met – we have seen no significant changes at the Central Bank. But we have this new government now and we need to give them a chance, to see what they will do.
As for the Saturday demonstrations, I’m not sure. We’ve reached a major milestone and that always calls for reflection. At the moment I’m taking a breather, considering my next move.
IWR: We have elections coming up in April … will you or Raddir fólksins stand for election?
HT: No. I am not a political person. I have no political or religious affiliations. I am an artist and it is my job to criticize and to fight for human rights. As far as I know, none of the people who have taken part in this work with me intend to run for office. Raddir fólksins is a group of independent, thinking people who want to facilitate change. But it is not a political movement.
The only thing I dream about now is going back to my daily routine, attending to my home, my songwriting, and to be able to travel and explore the world.
* The first organized demonstration focused solely on the removal of Central Bank Director Davíð Oddsson and was widely criticized. Subsequently the organizers split into two factions; however, the other did not operate for long.
[The image of Hördur Torfason was nicked from Lára Hanna and is used by permission.]
Posted in Revolution in Iceland | Tagged: bankrupt iceland, financial collapse, Iceland, Revolution in Iceland | Leave a Comment »
Posted by smeddum on February 5, 2009
Can Countries Really Go Bankrupt?
By SPIEGEL Staff
30/1/09
The bailout packages aimed at shoring up financial markets in Europe are getting increasingly expensive. A creeping depreciation of currency is inevitable and state bankruptcies can no longer be ruled out. Could the euro zone also fall victim to the global financial crisis? Read the rest of this entry »
Posted in Financial crisis | Leave a Comment »
Posted by smeddum on February 5, 2009
As recession ravages their assets, the rich retrench
1/2/09
By John Waggoner, USA TODAY
The rich may not be quite so different than you and me these days: They, too, have less money.
Their fortunes have fallen along with the prices of stocks, oil and real estate. Read the rest of this entry »
Posted in Financial crisis | Tagged: luxury goods in decline | Leave a Comment »
Posted by smeddum on February 5, 2009
By Norma Cohen
February 3 2009
Pension liabilities at 13 companies in the FTSE 100 index are now larger than their market capitalisations, according to new analysis from Pension Capital Strategies, a pensions consultancy, and Numis Securities. Read the rest of this entry »
Posted in Financial crisis | Tagged: pension shortfall | Leave a Comment »
Posted by smeddum on February 5, 2009
UK judges accuse Obama Administration of suppressing torture claim
February 5, 2009
Richard Ford and Francis Elliott
The US has threatened to withhold intelligence from the UK if evidence of the alleged torture of a British resident held at Guantánamo Bay is made public. Read the rest of this entry »
Posted in Uncategorized | Tagged: "War on Terror", Obama agenda, obama torture | Leave a Comment »
Posted by seumasach on February 4, 2009
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Eric Walberg 4th February, 2009 “The WEF is not a government of the world,” said organiser Andre Schneider wistfully in the crisp Davos air. The world’s economic elite gathered in a subdued atmosphere at this year’s World Economic Forum to assess the now global economic crisis. New York University professor Niso Abuaf compared it to a funeral, though not for the sake of the dead “ancien regime”, but “for the ones staying behind.” Attendees at the wake included 40 heads of state, 1400 business leaders and the usual assortment of “social entrepreneurs”. |
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Posted by seumasach on February 4, 2009
MAKE BALTIMORE CITY A FORECLOSURE AND EVICTION FREE ZONE
Sign the ONLINE PETITION and Call on Baltimore City Council and Sheriff John W. Anderson to Stop Foreclosures!
Help Make Baltimore City a Foreclosure & Eviction Free Zone
Community activists in Baltimore are now at a critical juncture in the struggle to stop foreclosures. With your help we can win an important victory. Please help by urging city council to do the right thing.
Posted in Financial crisis | Tagged: Foreclosure & Eviction Free Zones, stop forclosures | 2 Comments »
In These New Times 