Let Us Speculate
By William Bowles
There’s an awful lot of speculation going on right now, from both the left and right about where the latest crisis of capital is headed, chief amongst them is the notion that this signals the end of the US Empire, that the so-called uni-polar world is over, that a new multi-polar world, headed by China, Russia, India and Brazil is emerging. Continue
U.S. Should Enact $400 Billion Stimulus, Roubini Says
By John Brinsley
Roubini, who predicted the current financial crisis in 2006, said the economy risks falling into “a self-fulfilling animal spirit recession that is more severe than otherwise” because of the collapse of credit markets and weak consumer and corporate spending. Continue
By Nouriel Roubini
If the private sector does not spend and/or cannot spend, old-fashioned traditional Keynesian spending by the government is necessary. It is true that we already have large and growing budget deficits; but $300 billion of public works is more effective and productive than spending $700 billion to buy toxic assets. Continue
What Will YOU Do About The Worst Capitalist Crisis Since The 1930s?
Uniting & fighting back is no longer a choice; it’s a matter of survival
By Larry Holmes
Working and poor people, devastated by the depression, entered the 1930s destitute, broken and hopeless. Yet by the time the decade was over, the working class had won great battles, first by organizing itself into Unemployment Councils and tenants unions and later into giant labor unions. Continue
Latin American’s ‘New Left’ In Crises
As the ‘Free Market’ Collapses
By James Petras
The uniformity of the collapse of Latin American economies raises important questions about the changes and claims of independence, decoupling and post-liberal models, which many regime leaders, ideologues and progressive US-European Latin American writers made over the past several years. Continue
PM Putin Suggests Russia, China Ditch Dollar in Trade Deals
By RIA Novosti
"We should consider improving the payment system for bilateral trade, including by gradually adopting a broader use of national currencies," Putin told a bilateral economic forum. He admitted the task would be tough, but said it was necessary amid the current problems with the dollar-based global economy. Continue
The Financial Woes Signal The Death Of The Dollar?
By Rev. Richard Skaff
Once the middle class is slowly and fully assassinated in the US, then, the globalization process becomes easier to implement and the Security and Prosperity Partnership (North America Union) will rush toward us like a knight in shining armor riding on a beautiful white horse to rescue us from our financial disasters that were deliberately created by our treasonous leaders. Continue
PM Putin suggests Russia, China ditch dollar in trade deals: Russian Prime Minister Vladimir Putin proposed on Tuesday that Russia and China gradually switch over to national currency payments in bilateral trade, expected to total $50 billion in 2008.
Mass protests in Italy to stop cuts: Cries of “Berlusconi, now you know what people think of you!” rang through the streets of Rome last Friday as half a million people demonstrated against the right wing government. Milan and Turin each saw marches of 50,000 too.
Warnings of deep recession as US layoffs spread coast-to-coast: Unemployment is set to rapidly increase. "My view is that it will be near 8 or 8.5 percent by the end of next year," Nigel Gault, chief domestic economist at Global Insight, told the New York Times.