contributions

Worse than LTCM: Not Just a Liquidity Crisis; Rather a Credit Crisis and Crunch
Nouriel Roubini | Aug 09, 2007
The global market turmoil got ugly today forcing the ECB and the Fed to inject liquidity in the financial system as the concerns about subprime, credit and debt turned into a full blown liquidity run and crisis. As in 1998 at the time of the LTCM crisis, the Fed and global central banks decided to ease monetary policy in between meetings and injected a large amount of liquidity (…)

The Bush administration is close to sealing a major, multiyear aid deal to combat drug cartels in Mexico that would be the biggest U.S. anti-narcotics effort abroad since a seven-year, $5 billion program in Colombia, according to U.S. lawmakers, congressional aides and Mexican authorities.
U.S. Anti-Drug Aid Would Target Mexican Cartels Deal to Include Training, Gear
By Manuel Roig-Franzia and Juan Forero Washington Post Foreign Service Wednesday, August 8, 2007; A01 MEXICO CITY, (…)

WE ARE THE ENEMY
It has scarce escaped the notice of the wise, that this, our precious land of liberty, is sinking swiftly into tyranny. The executors of the American coup d’etat have been hacking at the Head of State – the Constitution – since the inauguration of the Republic: bruising it here and there, breaking the skin on occasion, or, if failing to cause lasting damage, then at least drizzling bits of venom and acid spittle. Yet since the new millennium these efforts have been (…)

The Federal Reserve Meltdown
Doug McIntosh 8 August 200
I realize some of you think I am a bit on the loony side; however, after watching a short video clip of Mr. Cramer and his performance the other day, I’m an amateur. Shakespeare got it wrong: the world is not a stage, it is a lunatic asylum. You can tell things are imploding in the economic sphere when the shills start shrieking. I would say an Oscar caliber performance at the least. The network anchor in the movie "Network" comes (…)

Good Ol’ Bill, The Liberal Hero
In his latest column for the New Statesman, John Pilger looks forward to the arrival of Bill Clinton in London where an "audience" with him will cost up to £799 a head. In examining Clinton’s liberal credentials and comparing them to George W. Bush’s record, Pilger illuminates what Hillary Clinton might offer America and the world as the first female president.
By John Pilger
08/09/07 "ICH" — —On 14 August, you are invited to "an audience" with Bill (…)

No interview was planned after the concert, at least for the mass-media, but indymedia is different. Manu Chao knew that we were not supposed to ask him about his favorite film or whether blondes are more attractive than brunettes.
So we spoke about the big issues like globalization, nature, the hope stolen from the new generation, about 1968 and about tomorrow. About playing with fire. Manu Chao talked about the world and his role in it.
Interview conducted in French by Gábor Kardos, (…)

By Rich Noyes
Many Americans do not believe the news media are fair, accurate or even moral, according to a new survey by the Pew Research Center. The poll of 1500 Americans conducted late last month found that most of the public thinks news organizations are politically biased (55%) and often publish inaccurate stories (53%), and that roughly a third of the audience say the media are too critical of America (31%), hurt democracy (36%) and are immoral (32%).
Half of Americans (52%) label (…)

Warren P. Strobel, John Walcott and Nancy A. Youssef McClatchy Newspapers
President Bush charged Thursday that Iran continues to arm and train insurgents who are killing U.S. soldiers in Iraq, and he threatened action if that continues.
At a news conference Thursday, Bush said Iran had been warned of unspecified consequences if it continued its alleged support for anti-American forces in Iraq. U.S. Ambassador to Iraq Ryan Crocker had conveyed the warning in meetings with his Iranian (…)

62 years ago, on August 9th, 1945, the second of the only two atomic bombs (a plutonium bomb) ever used as instruments of aggressive war (against essentially defenseless civilian populations) was dropped on Nagasaki, Japan, by an all-Christian bomb crew. The well-trained American soldiers were only "doing their job," and they did it efficiently.
It had been only 3 days since the first bomb, a uranium bomb, had decimated Hiroshima on August 6, with chaos and confusion in Tokyo, where the (…)

It’s incredibly hard to wake the working class, not because they are heavy sleepers or because they are lazy. But because they go to sleep tired and worried, about their kids and their jobs and their future. They are too preoccupied with the day to day struggle for life to hold intellectual arguments on class warfare. Much like our Iraqi brethren trying to live through Bushes shock and awe Saddam’s politics don’t mean a damn thing when you’re just trying to keep your family alive.
I had to (…)