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Economy-budget
It Is No Longer Safe To Invest In US
By : Der Spiegel - Wednesday August 17, 2011
The head of state-owned Chinese rating agency Dagong, Guan Jianzhong, 57, speaks to SPIEGEL about China’s economic model, why he believes the rating system used by the Big Three is a threat to the world and the twilight of Western dominance. SPIEGEL: You recently said that it would be a “catastrophe” if an American rating agency downgraded the United States’ credit rating. Now that Standard and Poor’s has taken that step, is the situation as bad as you (...)
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Economic Hubris - Fixing the economy: We got it wrong
By : Prof. James K. Galbrai - Wednesday August 17, 2011
In early January 2009 two White House-bound economists — Christina Romer and Jared Bernstein — predicted that if the stimulus bill were passed, unemployment would peak at 8% by midyear and then start coming down. If there were no stimulus, they said, joblessness might hit 9% and not peak until 2010. Romer and Bernstein had the risky job of hyping policy, but they weren’t alone in their optimistic views. Forecasters at the Congressional Budget Office, the Federal Reserve (...)
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INEQUALITY: Of the 1%, by the 1%, for the 1%
By : Joseph E. Stiglitz - Monday August 15, 2011
INEQUALITY: Of the 1%, by the 1%, for the 1% By Joseph E. Stiglitz Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret. It’s no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in (...)
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The Evils of Unregulated Capitalism: Remedy for the US economy: end the wars
By : Joseph E. Stiglitz - Monday August 15, 2011
The Evils of Unregulated Capitalism Remedy for the US economy: end the wars, rein in military and drug costs, and raise taxes – at least on the very rich ef. In June 2009, the then President of the UN General Assembly Miguel d’Escoto Brockmann, and former chief World Bank economist and Nobel laureate Joseph E. Stiglitz had called together a “conference at the highest level” on the issue of the world financial and economic crisis and its impact. This was the urgent (...)
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Our Long National Nightmare Isn’t Over, It’s Just Beginning
By : David Michael Green - Sunday August 7, 2011
In the 1930s, the only thing we had to fear was fear, itself. Today, the main thing we have to fear is us, ourselves. Looking out over the horizon, I’m starting to wonder just how many shades of dark there are on the pallette. Lately, I get the feeling that we’re about to find out. I wish I could say that this society did our best to fight our demons, but that the odds were simply insurmountable. You know. Like we were just sitting there by ourselves on our remote little (...)
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America’s Fiscal Collapse
By : Michel Chossudovsky - Thursday August 4, 2011
America’s Fiscal Collapse by Michel Chossudovsky Global Research, March 2, 2009 “We will rebuild, we will recover, and the United States of America will emerge stronger" ( President Barack Obama, State of the Union Address 24 Feb 2009) "Those of us who manage the public’s dollars will be held to account—to spend wisely, reform bad habits, and do our business in the light of day—because only then can we restore the vital trust between a people and their (...)
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Putin says US acting as ’parasite’ on world economy
Monday August 1, 2011
1 comment
Putin says US acting as ’parasite’ on world economy SELIGER, Russia — Russian Prime Minister Vladimir Putin on Monday accused the United States of acting as a "parasite" on the world economy by accumulating massive debts that threatened to shake global finance. "The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries, and in a way acting as a parasite," Putin told a group of pro-Kremlin youth in central (...)
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The American Empire Is Bankrupt
By : Chris Hedges - Thursday July 28, 2011
2 comments
This week marks the end of the dollar’s reign as the world’s reserve currency. It marks the start of a terrible period of economic and political decline in the United States. And it signals the last gasp of the American imperium. That’s over. It is not coming back. And what is to come will be very, very painful. Barack Obama, and the criminal class on Wall Street, aided by a corporate media that continues to peddle fatuous gossip and trash talk as news while we endure the (...)
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Balance the Budget on the Backs of Billionaires
By : David Swanson - Thursday July 21, 2011
The wealthiest nation on earth is not actually obliged to starve our senior citizens. We don’t need a military 670% more expensive than the next largest one on earth. We don’t need to fund health insurance corporations instead of healthcare. And we don’t need tax breaks for billionaires. In fact, we don’t need billionaires. That’s the message RootsAction is taking to Congress. Forbes magazine has been listing the 400 wealthiest Americans every year since (...)
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The truth about US debt, budget cuts and fiat currency
By : Timbre Wolf - Thursday July 7, 2011
1 comment
Republican Bogus Budget BS, er, I mean "Concerns" Disclaimer: I am not an economist and I nearly failed business math in college.  Claimer: I’m a musician but I’m above average at spotting bullshit. I’m registered as a Democrat - a fact of which I am no longer proud. And I’ve canvased four times for presidential candidates outside the two party system. If I lived in Ohio, however, I would vote for Kucinich. That said, I would probably vote for Ron Paul if I had to (...)
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Minnesota: Broken deals, bitter words and a state shuts down
Monday July 4, 2011
Broken deals, bitter words and a state shuts down Dayton renewed his call to tax the rich; GOP pointed to harm of long-term debt. The governor and legislative leaders worked into the evening in a last-ditch bid for resolution. Dayton and Republican legislators have been stalemated since January over how to balance the budget and close out the projected deficit. Dayton largely won election on a promise to preserve cherished state services by increasing taxes on the richest 2 percent of (...)
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July 4, 2011: The Cycle of Dependency and the Atrophy of Self-Reliance
By : Charles Hugh Smith - Monday July 4, 2011
July 4, 2011: The Cycle of Dependency and the Atrophy of Self-Reliance Charles Hugh Smith, July 2, 2011 The 4th of July marks the birth of the nation, and as such is a good time to distinguish between the nation and its Central government, the Savior State. The 4th of July is a fitting day to ponder the reality that we are at Peak Government, and the Savior State is unsustainable. This is a matter of accounting: no nation can spend more than it generates in surplus real output forever. (...)
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’War on terror’ set to surpass cost of Second World War
By : Rupert Cornwell - Monday July 4, 2011
1 comment
’War on terror’ set to surpass cost of Second World War By Rupert Cornwell in Washington Thursday, 30 June 2011 The total cost to America of its wars in Iraq and Afghanistan, plus the related military operations in Pakistan, is set to exceed $4 trillion – more than three times the sum so far authorised by Congress in the decade since the 9/11 attacks. Click HERE to view graphic (101 kb) This staggering sum emerges from a new study by academics at the Ivy-league Brown (...)
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T-Minus Two Months Until The $500 Billion Rolling Debt Ticking Timebomb Goes Off
By : Tyler Durden - Saturday July 2, 2011
T-Minus Two Months Until The $500 Billion Rolling Debt Ticking Timebomb Goes Off Submitted by Tyler Durden on 07/01/2011 14:07 -0400 Debt Ceiling Fitch New Debt Issuance ratings Ratings Agencies Reality Ever since the famous Stanley Druckenmiller Op Ed published in early May, which called for an outright default of the US, saying it would not be the end of the world, and in fact the US would emerge stronger as a result of finally taking the first steps to getting its fiscal house in (...)
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It’s Official: China Is The "Mystery" Daily Buyer Of Billions Of Euros
By : Tyler Durden, ZeroHedge - Thursday June 30, 2011
by Tyler Durden 06/29/2011 Over the past two weeks, we have been suggesting, tongue in cheekily, that despite the relentless desires of everyone to sell the EUR, it has continued to drift higher, due to some inexplicable force with bottomless pockets, which, after some deductive logic, we assumed was China. It turns out we were correct. Naturally, figuring out what China does with its $3 trillion in foreign reserves is sometimes more complex than brain surgery (except what it does every (...)
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The Greek debt crisis and the end of Social Europe
By : PhT - Tuesday June 28, 2011
1 comment
Following the “Greek” crisis in the news can be puzzling for the average observer, who watches befuddled as “lazy Greeks” and their “profligate welfare state”, threaten her country’s fragile economic recovery. The situation becomes even more incomprehensible as the public discourse progresses from reports on the impending doom to reports about “rioting Greeks”, who quite ungratefully seem to be rebelling against their country’s own (...)
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The Federal Reserve Is Selling Paper Gold and Buying Physical Gold
By : ROB KIRBY - Monday June 27, 2011
The Federal Reserve Is Selling Paper Gold and Buying Physical Gold The good ole "American way"—through proxies BY ROB KIRBY 10/04/2010 A couple of weeks ago, I pitched an idea to some associates of mine who are involved in SERIOUS [tonnage] PRECIOUS METALS procurement—physical metal only—let’s just say HUGE money. I asked them if they would be interested in purchasing an “option”—cash up front—for the exclusive rights [first right of (...)
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Those Who Know Will Understand
By : JR NYQUIST - Monday June 27, 2011
1 comment
Those Who Know Will Understand BY JR NYQUIST09/17/2010 According to some experts the U.S. economy is one “event” away from a catastrophic sequence. My own variation on this sequence goes something like this: first, the dollar collapses; second, the government’s response prevents any chance for recovery; third, political unrest and destabilization begins; last, the defensive function of the state fails as external and internal enemies take advantage of the country’s (...)
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Why We Are Totally Finished
By : DAVOS SHERMAN - Monday June 27, 2011
Why We Are Totally Finished BY DAVOS SHERMAN OKST06/27/2010 In A Nutshell: Corporatocracy Has Replaced Capitalism Capitalism Fixes Problems & Preserves Democracy: Capitalism is what we should be relying on to fix our problems. Capitalism has it’s own ecosystem, just like biology’s ecosystem. An economic ecosystem that weeds out the weak, has parasites that eat the failures and new bacteria that evolves and grows replacements for that which failed. A system that keeps (...)
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China Pledges Continued Support for European Debt
Monday June 27, 2011
China Pledges Continued Support for European Debt 26/06/2011 Chinese Premier Wen Jiabao on Saturday said China will continue to buy euro-denominated bonds to support Europe, in China’s latest public endorsement of the efforts to contain a potential debt crisis in the common currency area. The remarks by Mr. Wen, who was in Budapest on a five-day European tour that will also take him to London and Berlin, came as European leaders wrangle over mechanisms to provide fresh financing to (...)
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DAZIBAO
I, European citizen, won’t let refugees be rejected in my name
Thursday 10 March
©Olivier Jobard/Myop I, European citizen, won’t let refugees be rejected in my name THE RIGHT TO ASYLUM IS A RIGHT In the phrase « right to asylum », every word matters. Under the law, every person who is persecuted because of his or her political opinions or because of his or her identity, every person that is endangered by violence, war or misery has a RIGHT to seek asylum in another country The aim of this petition is to collect (...)
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Neo-Nazis and far-right protesters in Ukraine 3 live-stream
Friday 24 January
2 comments
The far-right in Ukraine are acting as the vanguard of a protest movement that is being reported as pro-democracy. The situation on the ground is not as simple as pro-EU and trade versus pro-Putin and Russian hegemony in the region. When US Senator John McCain dined with Ukraine’s opposition leaders in December, he shared a table and later a stage with the leader of the extreme far-right Svoboda party Oleh Tyahnybok. This is Oleh Tyahnybok, he has claimed a "Moscow-Jewish mafia" (...)
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Hugo Chavez is dead (video live)
Wednesday 6 March
by : Collective BELLACIAO
1 comment
President Hugo Chavez companeros venezueliano died after a long battle with cancer.
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International initiative to stop the war in Syria Yes to democracy, no to foreign intervention!
Thursday 13 December
Your support here: http://www.peaceinsyria.org/support.php We, the undersigned, who are part of an international civil society increasingly worried about the awful bloodshed of the Syrian people, are supporting a political initiative based on the results of a fact-finding mission which some of our colleagues undertook to Beirut and Damascus in September 2012. This initiative consists in calling for a delegation of highranking personalities and public figures to go to Syria in order to (...)
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THE KU KLUX KLAN ONCE AGAIN CONTROLS INDIANA
Monday 12 November
by : David R. Hoffman, Legal Editor of Pravda.Ru
7 comments
At first glance, the results of America’s 2012 election appear to be a triumph for social, racial, and economic justice and progress in the United States: California voters passed a proposition requiring the rich to shoulder their fair share of the tax burden; Two states, Colorado and Washington, legalized the recreational use of marijuana, while Massachusetts approved the use of marijuana for medical purposes; Washington and two other states, Maine and Maryland, legalized same-sex (...)
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I’VE DECIDED TO "WASTE" MY VOTE
Sunday 28 October
by : David R. Hoffman, Legal Editor of Pravda.Ru
In a 2004 episode of Comedy Central’s animated series South Park, an election was held to determine whether the new mascot for the town’s elementary school would be a “giant douche” or a “turd sandwich.” Confronted with these two equally unpalatable choices, one child, Stan Marsh, refused to vote at all, which resulted in his ostracization and subsequent banishment from the town. Although this satirical vulgarity was intended as a commentary on the two (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART IV
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART II PART III If there is one major inconsistency in life, it is that young people who know little more than family, friends and school are suddenly, at the age of eighteen, supposed to decide what they want to do for the rest of their lives. Unfortunately, because of their limited life experiences, the illusions they have about certain occupations do not always comport to the realities. I discovered this the first time I went to college. About a year into my studies, I (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART III
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART II PART IV Disillusioned with the machinations of so-called “traditional” colleges, I became an adjunct instructor at several “for-profit” colleges. Thanks largely to the power and pervasiveness of the Internet, “for-profit” colleges (hereinafter for-profits) have become a growing phenomenon in America. They have also been the subject of much political debate and the focus of a Frontline special entitled College Inc. Unlike traditional (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART II
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART III PART IV Several years ago, a young lady came into the college where I was teaching to inquire about a full-time instructor’s position in the sociology department. She was advised that only adjunct positions were available. Her response was, “No thanks. Once an adjunct, always an adjunct.” Her words still echo in my mind. Even as colleges and universities raise their tuition costs, they are relying more and more on adjunct instructors. Adjuncts are (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART I
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART II PART III PART IV When The Bill of Rights was added to the United States Constitution over two hundred years ago, Americans were blessed with many rights considered to be “fundamental.” One conspicuously missing, however, was the right to an education. This was not surprising given the tenor of the times. America was primarily an agrarian culture, and education, especially higher education, was viewed as a privilege reserved for the children of the rich and (...)
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ONE SOLITARY LIFE, PART TWO
Monday 30 July
by : David R. Hoffman, Legal Editor of Pravda.Ru
3 comments
If there is one universal question that haunts all human beings at some point in their lives, it is, “Why do we die?” Death, after all, is the great illogic. It ultimately claims all, the rich and the poor, the mighty and the small, the good and the evil. Death also has the capability to make most human pursuits—such as the quest for wealth, fame and power—vacuous and fleeting. Given this reality, I have often wondered why so many people are still willing to (...)
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HOW MUCH CORRUPTION CAN DEMOCRACY ENDURE?
Thursday 28 June
by : David R. Hoffman, Legal Editor of Pravda.Ru
6 comments
How much corruption can a “democracy” endure before it ceases to be a democracy? If five venal, mendacious, duplicitous, amoral, biased and (dare I say it) satanic Supreme Court “justices”—John Roberts, Samuel Alito, Antonin Scalia, Clarence Thomas and Anthony Kennedy—have their way, America will soon find out. In several previous articles for Pravda.Ru, I have consistently warned how the Supreme Court’s 2010 Citizens United decision is one of the (...)
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DEMOCRACY IN THE HANDS OF IDIOTS, PART TWO
Tuesday 12 June
by : David R. Hoffman, Legal Editor of Pravda.Ru
1 comment
Imagine, if you will, that the United States government passes a law banning advertisers from sponsoring commercials on Rush Limbaugh’s radio show or Rupert Murdoch’s Fox (Faux) “News” Network. On one hand, there would be two decided advantages to this ban: The National IQ would undoubtedly increase several percentage points, and manipulative pseudo-journalists would no longer be able to appeal to the basest instincts in human nature for ratings and profit while (...)
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DEMOCRACY IN THE HANDS OF IDIOTS
Thursday 7 June
by : David R. Hoffman, Pravda.Ru Legal Editor
4 comments
LIVE, from the State that brought you Senator Joseph McCarthy, Wisconsin voters now proudly present, fresh from his recall election victory, Governor Scott Walker! At first glance, it is almost unfathomable that anyone with a modicum of intelligence would have voted to retain Scott Walker as Wisconsin’s governor. This, after all, is a man who openly declared he is trying to destroy the rights of workers through a “divide and conquer” strategy; who received 61% of the (...)
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PEOPLE WITHOUT SOULS
Tuesday 13 March
by : David R. Hoffman, Legal Editor of Pravda.Ru
2 comments
A question I’ve frequently been asked since I began writing for Pravda.Ru in 2003 is, “Why did you become disillusioned with the practice of law?” This question is understandable, particularly since, in most people’s minds, being an attorney is synonymous with wealth and political power. I’ve always been reluctant to answer this question for fear it will discourage conscientious and ethical people from pursuing careers in the legal profession—a (...)
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