Economy

(GunsNButter) – Audio: On the Destructive Nature of the Global Economic System – Bonnie Faulkner Interviews Michel Chossudovsky – Audio Link Here

(NYTimes) – NY Times’ Krugman: We Are Entering The Third Depression

We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense. Read More Here

(CNN) – Video: Clinton – U.S. Budget Is Broken – View Video Here

(LondonTelegraph) – RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve

As recovery starts to stall in the US and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve. Read More Here

(LewRockwell) – Suiting Up for a Post-Dollar World

The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie’s choice between social unrest and bankruptcy. But with the “Club Med” economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Read More Here

(StarAdvertiser) – Huge tent city takes root

Homeless camps cover 50 acres, from Waipio Point, around Middle Loch to Pearl City Read More Here

REPOST – (WSWS) – Senate Democrats and Obama abandon the jobless

Senate Democrats gave up efforts to extend unemployment benefits for millions of jobless workers after the third vote on overcoming a Republican filibuster failed. The final vote Thursday was 57 to 41, three votes short of the 60 necessary to cut off debate, with one Democrat, Ben Nelson of Nebraska, joining a unanimous Republican opposition. Read More Here

(Bloomberg) – Merkel Warns European Crisis is Far From Over, Wall Street Journal Reports – Read More Here

(GlobalResearch) – BOOK LAUNCH: The Global Economic Crisis: The Great Depression of the XXI Century – Michel Chossudovsky and Andrew Gavin Marshall – Read More Here

(EurasiaReview) – Europe’s Fiscal Dystopia: The “New Austerity” Road – Michael Hudson

Europe is committing fiscal suicide – and will have little trouble finding allies at this weekend’s G-20 meetings in Toronto. Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain’s David Cameron to Greece’s George Papandreou (president of the Socialist International) and Canada’s host, Conservative Premier Stephen Harper, are calling for cutbacks in public spending. Read More Here

(BBC) – Romania plans big VAT rise to secure bail-out funds – Read More Here

(RegionalTimes) – IMF stops next tranche of loan to Pakistan till imposition of VAT Read More Here

Climategate

(LATimes) – Senate Democrats poised to start energy bill

With the gulf oil spill creating political opportunity, Senate Democrats will begin crafting a sweeping energy bill this week that could include a first-ever, though more modest, cap on global-warming pollution, believing they must act now despite differences within their ranks and political jitters in an election year.

(Guardian) – Gillard bids to revive Australia’s stalled carbon trading scheme

Australia’s new prime minister, Julia Gillard, today moved to revive a stalled carbon trading scheme, pledging more consultation with industry and voters to win support for an issue that has divided the nation. Read More Here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s