It's The Oil, Stupid!
By Noam Chomsky
The deal just taking shape between Iraq's Oil Ministry and four Western oil companies raises critical questions about the nature of the US invasion and occupation of Iraq — questions that should certainly be addressed by presidential candidates and seriously discussed in the United States, and of course in occupied Iraq, where it appears that the population has little if any role in determining the future of their country. Continue
A Work Force Betrayed
Watching Greed Murder the Economy
Paul Craig Roberts
The collapse of world socialism, the rise of the high speed Internet, a bought-and-paid-for US government, and a million dollar cap on executive pay that is not performance related are permitting greedy and disloyal corporate executives, Wall Street, and large retailers to dismantle the ladders of upward mobility that made America an “opportunity society.” Continue
Dollar continues to weaken after Iran missile test: Wall Street's performance was muted after oil prices rebounded sharply following news overnight of Iran's missile tests, triggering a sell-off in the dollar as investors no longer needed as much of it to buy U.S. assets.
Small Banks' Reckoning Day Is Coming: According to the Federal Deposit Insurance Corp., $45.4 billion of the $631.8 billion in construction loans outstanding at the end of the first quarter were delinquent.
Pending home sales fall 4.7 percent: "The overall decline in contract signings suggests we are not out of the woods by any means," NAR Chief Economist Lawrence Yun said in a statement.
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