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Economy

Financial Crisis: Bending and Breaking

Robert Kurz | The governments still strike the pose of successful crisis management. The core meltdown of the global financial system is said to be cushioned by "unorthodox" state guarantees. Instead of raising mass income, the state finances capital investments to liven up the economy. more...  0 Comments

In this week's Socialist WebZine....

SP-USA | Plus...Vote in this week's poll...
Which Progressive Figure in U.S. History Deserves a
National Holiday? more...  9 Comments

Seattle WTO Shutdown 9 Year Anniversary: 5 Lessons for Today

David Solnit | This was the question a group of organizers from different parts of the last decades of global justice organizing responded to last week at a forum in New York City put together by Deep Dish TV, an independent video/media pioneer. Here are my thoughts. more...  0 Comments

Colossal Financial Collapse: Truth behind the Citigroup Bank "Nationalization"

F. William Engdahl with assistance from Joe | "The health of Citigroup is not the only gripping crisis that must be dealt with. At this point, political and ideological bickering in the US Congress has so far prevented a simple emergency $25 billion loan extension to General Motors and other of the US Big Three automakers—Ford and Chrysler. The absurd spectacle of US Congressmen attacking the chairmen of the Big Three for flying to the emergency Congressional hearings on a rescue loan in their private company jets while largely ignoring the issue of consequences to the economy of a GM failure underscores the utter lack of touch with reality that has overwhelmed Washington in recent years."

"The scale of the hidden losses of perhaps the twenty largest US banks is so enormous that if not before, the first Presidential decree of President Barack Obama will likely have to be declaration of a US ‘Bank Holiday’ and the full nationalization of the major banks, taking on the toxic assets and losses until the economy can again function with credit flowing to industry once more." more...  0 Comments

Bed-Stuy Community and Religious Leaders Protest at Rent-A-Center as NYPD Arrests Two

Aron Guy | Community leaders in Bed-Stuy protested in front of two different Rent-a-Centers on Friday. Rent-a-Center's rent-to-own business model results in customers paying two or three times the retail price for an item. more...  5 Comments

Wal-Mart's Recklessness Leads to Tragic Trampling Death on Black Friday

Brandworkers International | Wal-Mart's failure to properly prepare for the busiest shopping day of the year has cost a worker his life. more...  1 Comments

SP-USA Says NO to Post-election Racist Attacks

SP-USA | White supremacy is a primary enemy of working class solidarity. The recent racist attacks are purposeful attempts to divide working people against each other. The socialist left has learned the hard lessons of the 20th century and will oppose any racist attacks be they cultural or physical. more...  19 Comments

JUSTICE FOR 81 BOWERY TENANTS!

forwarded by Skinny John | We need people to come out for an hour once a week to work with us to build community support and give pressure to the landlord to get the residents back into their homes asap. more...  0 Comments

International Workshop to discuss global financial crisis will happen December t

Emilio de Lima (Ed.) | The organization of the workshop has already confirmed the participation of Gromyko Yury (member of the Russian Academy of Sciences and director of the Institute of Advanced Studies of the Academy), Andrei Kobyakov (economist and expert in finance from the State University of Moscow, editor-in-chief of newspaper "Russian Entrepreneur" and of the site rpmonitor.ru and author of a book about the decline of the dollar), Mario LETTIERI (economist and former undersecretary of Economics and Finance at the Romano Prodi government (2006-08), responsible for the production of a motion for a "new Bretton Woods")
more...  0 Comments

GM, The NY Times, and Marxism 101

Workers Action | As Socialists, we are consistently asked to present our ideas in a clearer, easier to understand manner. To achieve this goal, I’ll enlist the help of former Governor of Massachusetts and candidate for the Republican Presidential nomination, Mitt Romney, who appeared in the New York Times Op-Ed section on Nov. 19th.

Romney’s piece, entitled “Let Detroit Go Broke,” laid bare the intent behind the angry rhetoric used by politicians against the proposed bailout for the “Big Three” automakers. Whereas the giant Wall Street banks received over
1 trillion dollars — so far— without barely having to ask, an industry that actually produces something has to beg for a handout. Why the difference? more...  14 Comments

The Financial Crisis in Biblical and Theological Perspective

Ulrich Duchrow | The owners of capital started to create a bubble in the financial markets through various kinds of speculation in order to drive up the returns by derivatives, options etc, creating Casino-Capitalism, de-linked from the real economy (which real economic process can yield returns of 25% plus?). This system must collapse. more...  0 Comments

Breathing Life Back into the Anti-Globalization Movement: Film Screening/Panel

Jacob Scheier | What have we learned and where to go next were the key questions last Friday at a film screening and panel discussion on the anti-(corporate)globalization movement(s). The event, hosted by Professor Mark Read of the Gallatin School hosted was entitled "Many Yeses, one No," and is part of a screening and DVD Series coming from Deep Dish TV entitled: DIY Media: Movement Perspectives on Critical Moments. more...  6 Comments

Crash Course

Achim | Why the collapsing of the financial bubble is not the fault of "greedy bankers" and why there can be no going back to a social welfare capitalism more...  1 Comments

Victory in El Barrio

Jennifer Janisch | The global economic crisis that has shaken the real-estate industry has one tenant organization in East Harlem celebrating victory over a British landlord. more...  4 Comments

Building Bridges Radio: Green Economy Stimulus; Immigrant Murdered in Suffolk

Ken Nash and Mimi Rosenberg | WBAI Radio's Building Bridges: Your Community and Labor Report
presents this 28 minute radio program.
TO LISTEN CLICK ON WEB LINK BELOW more...  0 Comments

Protest to End the Federal Reserve tomorrow, in 39 cities

me | Endless war? Inflation tax? Bailouts for Wall Street? The Fed did it. END THE FED!
Join us in confronting this unconstitutional, privately owned banking cartel that our leaders refuse to talk about.
THE BEGINNING OF THE END
Saturday, November 22nd, 2008, MEET AT 1pm at the CORNER OF Liberty St and Church St on 11.22. Then march to the FED and back to park. more...  0 Comments

The Fight for “Real Rent Reform” Begins: Democrats Win Majority in State Senate - Will it Clear the Way for Pro-Tenant Bills?

Kenny Schaeffer | After nearly 50 years of Republican control of the New York State Senate, Democrats and the Working Families Party unseated two long-term incumbents to gain a 32-30 majority on Nov. 4. This should pave the way for long-overdue legislation to address New York City’s housing crisis that tenants’ groups have been working on for years. more...  0 Comments

In the Madhouse

Reiner Metzger | The crisis will force up unemployment by 2%. The proposed measures are outrageous. Consumption must urgently be started up again. This is an unfathomable tunnel vision among the elites of the world. In a crisis, a new approach must be adopted. more...  0 Comments

VIDEO: Joseph Stiglitz on NOW, 11/20/2008

demandside | Insight on the economic meltdown from a Nobel Prize winning economist. Joseph Stiglitz talks about misplaced priorities in handling the economic meltdown and what we should do next. Our focus must be on Main Street and the foreclosure problem. more...  0 Comments

Spanish bank squatters evicted

Hildy Johnson | Following their successful occupation of the offices of BBVA bank over 200 members of SAT (Andalucian workers union) spent the night there, resisting police and council efforts to force them to leave. more...  0 Comments

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