The Riots in Britain Could Foreshadow What Happens in the U.S.
Written by Administrator
Monday, 15 August 2011 10:50
By Timothy Gatto (about the author)
The British government has charged that the riots are being caused by an increase in "criminality". This is patently ridiculous. What is the difference in London or Manchester now than last year? If these riots are presumed to be the act of "criminals", then what triggered these "criminals" to riot? If "criminality" is the reason why people are on the streets destroying neighborhoods and looting shops, why is it happening all over the...
This article appears in the February 18, 2011 issue of Executive Intelligence Review. The Angelides Report: The Moral Test
[PDF version of this article]
In our last issue (EIR, Feb. 11, 2011), we presented the major findings of the Financial Crisis Inquiry Commission (FCIC; also known as the Angelides Report), with emphasis on how its truthful analysis cohered with both the record of leading economic forecaster Lyndon LaRouche, and the trails of disaster which the adoption of British...
Economic Crisis: Public Sector Unions and Canada's Austerity Measures
Written by Jordy Cummings and Patrick D. LeGay
Tuesday, 28 December 2010 17:01
Global Research, December 27, 2010 Socialist Project
Nearly six months have gone since the G20 Summit in Toronto when we supposedly entered what some have referred to as “permanent austerity” – the “new normal” of capitalist social relations. Whilst using the significant resources of the state to inject liquidity into markets and ensure corporate and banking profits, ruling classes simultaneously are cutting public services across the board, imposing user fees and letting...
Wall Street's Pentagon Papers: Biggest Financial Scam In World History: $12.3 TRILLION in taxpayers' money.
Written by David DeGraw
Wednesday, 08 December 2010 17:09
Global Research, December 6, 2010 AmpedStatus
What if the greatest scam ever perpetrated was blatantly exposed, and the US media didn’t cover it? Does that mean the scam could keep going? That’s what we are about to find out.
I understand the importance of the new WikiLeaks documents. However, we must not let them distract us from the new information the Federal Reserve was forced to release. Even if WikiLeaks reveals documents from inside a large American bank, as huge as that...
Geithner Rushes To Sabotage German Derivatives Ban - Schäuble Prepares New Moves Against Speculators
Written by Webster G. Tarpley
Sunday, 30 May 2010 19:56
The German government is now fully committed to escalating its ongoing counterattack against international financial speculation. These moves represent an historical watershed as Germany becomes the first major economic power to roll back the tide of financial globalization, under which crackdowns on hedge funds, derivatives, and the world gambling casino were branded as taboo for national governments. German Finance Minister Wolfgang Schäuble has...
Secret Clause Reveals Europe Bailout Designed To Destroy Global Economy
Written by Steve Watson
Saturday, 29 May 2010 09:03
Infowars.net Wednesday, May 26th, 2010
A secret exit clause written into the trillion dollar European bailout agreement will ensure the creation of more debt in Europe, worsening the global economy, decimating nation states and allowing power to be consolidated into fewer super-elite hands.
As the Financial Times reports today, the major German newspaper Bild says it has obtained a copy of the bailout agreement and has set about “exposing” a series of secret clauses.
Grotesque Global Financial System: Greece. Economic Theft on an Unprecedented Scale Greece is a microcosm of a modern class war rarely reported as such.
Written by John Pilger
Thursday, 20 May 2010 17:53
As Britain's political class pretends that its arranged marriage of Tweedledee to Tweedledum is democracy, the inspiration for the rest of us is Greece. It is hardly surprising that Greece is presented not as a beacon, but as a "junk country" getting its comeuppance for its "bloated public sector" and "culture of cutting corners" (Observer). The heresy of Greece is that the uprising of its ordinary people provides an authentic hope unlike that lavished upon the warlord in the White...
CHRISTINE HAUSER and MATTHEW SALTMARSH The New York Times May 20, 2010
Stocks on Wall Street fell sharply on Thursday as uncertainty over Europe and financial regulation continued to weigh on the market.
At the close, the Dow Jones industrial average was down 376.36 points, or 3.6 percent, at 10,068.01. The Standard & Poor’s 500-stock index was down 43.46 points, or 3.9 percent, at 1,071.59 and the Nasdaq composite was down 94.36 points, or 4.1 percent, at 2,204.01.
The correction is comin and it will be a bloodbath
Written by Administrator
Thursday, 20 May 2010 16:55
Zero Hedge May 20, 2010
The correction, soon to be crash, is here: the market had a bigger relative open to close move today than it did on May 6. We closed at the day’s lows on massive volume, despite definitive central bank intervention, regardless whether it was the SNB, the ECB, or the Fed. The central planners have lost control of the market, and all thanks to the inevitable collapse of hyper capitalist Keynesianism coming out of the formerly most communist country in the world. A...
The latest Greek tragedy And Sovereign Defaults Pose A Great Threat
Written by Administrator
Monday, 10 May 2010 17:56
Bob Chapman The International Forecaster May 10, 2010
It was 7 years ago we said Fannie Mae and Freddie Mac were bankrupt. Most everyone within the beltway knew it, but no one would say anything about it. This as it now turns out they were the poster companies, which led to sovereign debt problems, but also showed that they were involved in massive fraud over several years and many in Washington knew it. Earnings were fabricated in order to create conditions, so that the officers could...
Ron Paul: Euro Bailout Will Lead To Currency Collapse
Written by Paul Joseph Watson
Monday, 10 May 2010 17:52
Prison Planet.com Monday, May 10, 2010
As Europe is bailed out to the tune of nearly $1 trillion dollars, Congressman Ron Paul warns that the constant monetization of debt, allied with taxpayer-funded bailouts, will inevitably lead to runaway inflation and the collapse of paper currencies.
Under the terms of the Federal Reserve’s credit swap deal with the EU – in addition to an additional IMF bailout of which U.S. taxpayers will be picking up 20 per cent ($57 billion dollars) of the...
Monument Securities Chief Economist Stephen Lewis says the chaos in Greece could lead to collapse of the European Union, bringing down with it the dangerous assumption that structures of global governance provide stability in times of financial peril, but the World Bank and IMF vultures will be waiting as ever to feed on the remains of a dying country.
Striking Greek workers and civil servants have violently protested their government’s...
Greece is just the ‘tip of the iceberg’, Nouriel Roubini warns
Written by Administrator
Friday, 30 April 2010 16:36
Daily Telegraph April 29, 2010
Professor Roubini, the New York-based academic who was one of the few to anticipate the scale of the financial crisis, told a panel in California that the buildup of debt is likely to lead to countries defaulting or resorting to inflation to ease the burden on their populations.
“While today markets are worried about Greece, Greece is just the tip of the iceberg,” Roubini told the Milken Institute Global Conference in Beverly Hills, California. “The...
Rising Poverty in Canada: Who Pays for the Crisis?
Written by John Clarke
Sunday, 25 April 2010 08:37
Global Research, April 24, 2010
The Liberal Government of Ontario's decision in the spring Budget to eliminate the ‘Special Diet’ will remove the one means by which a major section of people on social assistance had been able to compensate partly for the huge loss of real income that has taken place over the last decade and a half. It is important to understand how this attack is linked to the overall drive to solve the current financial crisis of capitalism at the expense of the...
Hundreds of thousands of public school teachers across the United States are facing possible layoffs this coming academic year.
Confronting massive budget deficits, school districts throughout the country have been sending out notices (“pink slips”) to employees this spring, warning them that they are unlikely to have a job in the fall. The bloodletting is worst in California, Illinois, New York, Michigan, and New Jersey, but nearly every region in the...
If The U.S. Economy Falls Will It Result In A Complete And Total Collapse Of Society?
Written by Administrator
Wednesday, 21 April 2010 07:35
The Economic Collapse April 21, 2010 Riots broke out after Greece announced bankster austerity measures.
If the United States experiences a horrifying economic collapse (and it most definitely will), will that cause a complete and total collapse of society? Will we experience crime, violence, riots and social unrest on a scale that is unprecedented in U.S. history? Before you dismiss such notions as utter foolishness dreamed up by a few bloggers...
Goldman Sachs, which emerged relatively unscathed from the financial crisis, was accused of securities fraud in a civil suit filed Friday by the Securities and Exchange Commission, which claims the bank created and sold a mortgage investment that was secretly devised to fail.
The move marks the first time that regulators have taken action against a Wall Street deal that helped investors capitalize on the collapse of the housing market. Goldman itself...
Goldman Sachs was charged with fraud last week by the Securities and Exchange Commission. The investment bank says the charges are “unfounded in law and fact.” Regulators allege “Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party,”...
Emergency Bailout Plan for Greece: A New Stage in the World Economic Crisis
Written by Stefan Steinberg
Saturday, 17 April 2010 09:32
Global Research, April 13, 2010 World Socialist Web Site - 2010-04-12
The economic crisis precipitated by the crash of Lehman Brothers in 2008 is entering a new stage, as European states hastily organise their first-ever bailout of a member of the European Union. The frantic efforts at the weekend to cobble together a European rescue package for Greece in collaboration with the International Monetary Fund came after intense pressure from rating agencies and intensified...
And all the pundits thought that the IMF would be on the hook for just €10 billion… The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion. The current lending participant group of 26 entities will be increased by 13 new members all of whom will contribute token amount of capital to the NAB. The one country most on the...
By Hibah Yousuf, staff reporterApril 9, 2010: 2:26 PM ET NEW YORK (CNNMoney.com) -- With unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans.
A total of 33 states and the Virgin Islands have depleted their funds and borrowed more than $38.7 billion to provide a safety net, according to a report released Thursday by the National Employment Law Project. Four...