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Política Editorial | Webeditorial
Newswire Archivo                   Ocultado

Economy

Ever since the beginning of the current global economic crisis, the focus of both critical analysis and public odium has been speculative capital. In the populist narrative, it was the breathtaking shenanigans of the banks in an atmosphere of deregulation that led to the economic collapse. The “financial economy,” characterized as parasitic and bad, was contrasted to the “real economy,” which was said to produce real goods and real value. Resources flowed into speculative activities in finance, resulting in a loss of dynamism in the real economy and eventually leading to credit cutoff at the height of the crisis, causing bankruptcies and massive layoffs.

Vampire Squid versus Corporate Galahad?

Wow! Awesome speech by the President! After so many "populist" appeals by the Tea Party (Genuine populism takes the side of regular folks against billionaires, the Tea Party was largely founded by billionaires), the President makes a genuinely populist appeal to the American people! Naturally, a fellow on Fox News has a problem with it. Very interestingly, he tips his hand as to how weak his case against the President's speech is.

Eurozone Doomsayer Got it Right - by Stephen Lendman
 
Eurozone economies are cratering. Every fix tried so far failed. Combining 17 dissimilar countries under one monetary/fiscal system assured disaster waiting to happen.
 

Deepening Debt Contagion - by Stephen Lendman
 
With pressure building on Europe and America, something's got to give. Progressive Radio News Hour regular Bob Chapman says Germany's Angela Merkel and France's Nicolas Sarkozy search for solutions that don't exist.
 

Financial Tyranny Rules Eurozone - by Stephen Lendman
 
From inception, Eurozone planning was flawed. Uniting 17 dissimilar countries under rigid rules failed.
 
Membership required surrendering monetary and fiscal authority to a central power.
 

Kicking the Cannes Down the Road - by Stephen Lendman
 
They met. They talked. They agreed to talk more and solved nothing. A November 4 Guardian editorial headlined, "G20 summit: slumping to the occasion," saying:
 

Global Economic Crisis Deepens - by Stephen Lendman

Global Depression grips world economies. Destructive polices fueled today's crisis. Conditions are fast coming to a head.

Throwing good money after bad delays decision day at the price of far greater trouble on arrival. D-Day will shake world economies. It may, in fact, be months away, perhaps in 2012.

No one knows for sure, but things that can't go on forever won't, and when they end, watch out. Ordinary people will be hurt most, much more than already.

Perhaps Greece is the canary in the coal mine. The country's bankrupt. Only its obituary isn't written. Its citizens are being impoverished. Anger rages in Athens. Revolutionary sentiment may explode any time, sending shock waves across Europe.

Economic Tremors - by Stephen Lendman

Sovereign default threatens Greece. Progressive Radio News Hour contributor Bob Chapman warns when it goes, all troubled Eurozone countries will follow.

Is it imminent? Likely not. More likely is winter or next spring. But given its troubled state, it's just a matter of time.

Most disturbing, says Chapman, is that central banks, "governments and financial communities have no idea how to end the ongoing" crisis. "All they can come up with is to throw more money at" it.

Troubled Eurozone Finance Capital - by Stephen Lendman

For years, Progressive Radio News Hour contributor Bob Chapman warned about troubled Eurozone financial institutions and possible sovereign defaults.

Greece died months ago. Default is certain. Only its obituary hasn't appeared. Germany prepared contingency plans to reissue the Deutschemark if Eurozone stability crumbles.

Six possible sovereign defaults loom if contagion spreads out of control. "Considering the condition of other European banks, and the possibility that three major French banks may be purchased by China, we could see disruption in the global banking system," warns Chapman.

"The very fact that Germany is building a reserve of Deutschemarks has to spell the possible end of the euro."

Obama's Depression - by Stephen Lendman
 
Chosen to serve power, not popular interests, Obama wrecked America's economy to save giant Wall Street banks. He's still doing it, despite claiming he's been out in front doing all he can.
 
By bailing out too-big-to-fail banks and waging multiple imperial wars, he intensified social misery.