Posted by seumasach on November 7, 2008
Rather a weak demand by the SWP: why don’t they want nationalisation of the banks? Still, it’s a good article and confirms points we made at the time.
by Simon Basketter
4th november, 2008
Bailed out banks dish out bonuses, while Gordon Brown hands over control to City sharks
Posted in Financial crisis | Tagged: bailout, financial collapse | Leave a Comment »
Posted by seumasach on November 7, 2008
Georgian oppositionists have staged the first rally in a series of demonstrations calling on President Mikheil Saakashvili to step down.
Posted in Uncategorized | Tagged: georgia | Leave a Comment »
Posted by seumasach on November 7, 2008
Nov. 6, 2008 (LPAC)–At a noon press conference today, Eric Schweitzer, president of the Berlin Chamber of Industry and Commerce (IHK Berlin), said that he has been forced by the dramatic Economic developments of the past few weeks to change a report he had previously delivered in September, since events have superseded its conclusions:
“The effects of the crisis on the real economy are immense, in the automobile sector and the export industries, and the downturn in construction which existed before the most recent developments, has been exacerbated. There is urgent need for state intervention, and especially for tighter regulation of the financial sphere; and that, regulation of speculative activity would not be enough, but that a total ban of these kinds of dealings, which are destructive from the standpoint of industrial firms, is necessary.” Schweitzer also called for completely banning short-selling, adding that controls over the banking sector need a real overhaul, apparently, because the existing supervisory and control instruments have not functioned.
Posted in Financial crisis | Tagged: financial collapse | Leave a Comment »
Posted by seumasach on November 7, 2008
November 6, 2008 (LPAC)–The continuing attempt to impose a monetary solution to the bankruptcy of the financial system is not just corrupt and incompetent, but it is also killing what remains of the global economy. Trillions of dollars have been pumped into the banks in the U.S. and Europe, but these banks are nevertheless restricting the issuance of credit to crucial areas of the economy. Of particular importance is the banks’ shutting off of letters of credit and credit lines to the shippers who move raw materials and more finished goods around the world. The banks are thus shutting down world trade in a foolish–and suicidal–effort to save themselves.
Posted in Financial crisis | Tagged: bailout, financial collapse | Leave a Comment »
Posted by seumasach on November 7, 2008
Justin Raimundo
7th November, 2008
When I hear talk of a “honeymoon” for the President-elect – to last as long assix months, by some accounts – I think: “Fine. You lay off, and I’ll do the same.” But oh no, it doesn’t work that way. Obama has already started in on us, and he hasn’t even taken the oath of office yet. I’m talking about his appointments, starting withRahm Emanuel as his chief of staff.
Posted in Drive to Global War | Tagged: Obama's foreign policy | Leave a Comment »
Posted by seumasach on November 7, 2008
7th November, 2008
Argentina sharply criticised on Thursday Britain’s approval of a new constitution for the disputed Falkland Islands, saying it had lodged a formal complaint with London for which is had summoned UK’s Chargé d’Affairs in Buenos Aires.
Posted in Drive to Global War | Tagged: malvinas | Leave a Comment »
Posted by smeddum on November 7, 2008
The unkindest cut
Cutting interest rates was a mistake. Easy money got us into this mess and it cannot possibly be what will rescue us
Edward Harrison
guardian.co.uk,
Friday November 7 2008
Yesterday, Will Hutton penned a commentary, “A rational cut for irrational times,” in which he praised the Bank of England’s 1.5% interest rate cut as “a necessary move.” But, was it? I would argue that, while monetary easing can provide stimulus on the margin, this cut was neither necessary nor prudent. Quite simply, it is the quantity of credit and not the price of credit which has created hardship. Read the rest of this entry »
Posted in Financial crisis | Tagged: UK interest cut | Leave a Comment »
Posted by smeddum on November 7, 2008
Western Media Bias in Coverage of Contested Elections
By Stephen Gowans
While elections that bring populists and reformers to power are often contested as fraudulent by Western-backed opposition coalitions which receive favourable and substantial coverage in the Western media, when pro-foreign investment parties come to power in disputed elections, the event barely merits a footnote in the back pages of Western newspapers. Read the rest of this entry »
Posted in Uncategorized | Tagged: Zambia | Leave a Comment »
Posted by smeddum on November 6, 2008
Is Imperialism the Highest Stage of Capitalism?
by Paul Anderson
Let me go straight into the fray,
Lenin summarizes his definition of imperialism as follows:
“1) The concentration of production and capital developed to such a high stage that it created monopolies which play a decisive role in economic life.
2) The merging of bank capital with industrial capital, and the creation, on the basis of this “finance capital,” of a “financial oligarchy.”
3) The export of capital, which has become extremely important, as distinguished from the export of commodities.
4) The formation of international capitalist monopolies which share the world among themselves.
5) The territorial division of the whole world among the greatest capitalist powers is completed.”
Read the rest of this entry »
Posted in Uncategorized | Tagged: Multipolar world | 4 Comments »
Posted by seumasach on November 6, 2008
(RTTNews) – Venezuela’s left-leaning government has decided to nationalize Las Cristinas, the country’s largest gold mine, to boost the South American country’s foreign exchange reserves amid the global financial crisis, media reports said.
Posted in Uncategorized | Tagged: Bolivarian Revolution | 1 Comment »
Posted by seumasach on November 6, 2008
The wedding bombers are back! Here’s an early dilemma for Obama: to bomb or not to bomb weddings?
6th November, 2008
See also:
Tensions between American forces and the Afghan government over civilian casualties from coalition airstrikes spiked again on Wednesday with a report by Afghan officials that a missile from a United States aircraft killed 40 civilians and wounded 28 others at a wedding party in the southern province of Kandahar.
Posted in Drive to Global War | Tagged: bombing afghan weddings | Leave a Comment »
In These New Times 