Wednesday, October 29, 2008

more economic troubles.

DOW WOW: Average Climbs 889 Points...

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

Our Choice

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.

Bailouts Continue - China Takes Aggressive Action

Credit Losses Far Exceed Bailout Injections

WH To Banks - Quit Hoarding, Start Lending

Putin Suggests Russia, China Ditch Dollar

Stocks Surge 889 Pts On Investor Bargain Hunting

Iceland Raises Interest Rates To 18%!

The Final Act

IMF May 'Print Money' As Crisis Spreads

BP Profits Skyrocket - Up 148%

London And Asian Markets Rebound

World Has 'Six Days To Save Pakistan'

BoE - Cost Of Crash $2.8T So Far

Pound In Free Fall - No Way To Stop It

UK Repos Jump 71% As Arrears Grow

UK Economy Now Smaller Than France

UK - 1.2 Million Face Negative Eq As Property Dives

Russia/China To Strengthen Financial Ties

US Pulls Plug On The World

Wall St Renews Once In Lifetime Sucker Buying

Madness Rules! - Insurers/Pensions Pile Into Derivs

Oz Dollar Drops 40% For No Reason

Deflation Accelerating

Dow Drops Another 203 Points

Crude Oil Falls To $61 Barrel

Europe On Brink Of Currency Meltdown

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