Tag Archives: financial crisis

The NYE Fiscal Cliff is a Buffalo Jump. Is your herd going to fall for it?

DENVER, COLORADO- The DC Kabuki Divas are amping up their New Years cliffhanger, the so-called Fiscal Cliff, to inaugurate domestic austerity measures meant to cement the widening income gap between the rich and everybody else. If it’s a cliff, it’s … Continue reading

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So-called Fiscal Cliff is a Buffalo Jump

Remember the “Financial Crisis” from out of nowhere when Obama first came to office? Now it’s Bank Heist, the Sequel, branded most assuredly with the assistance of Madison Avenue as a “Fiscal Cliff”, shall we call it FC2? This time … Continue reading

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Doug Henwood about Labor’s losing strategy of being sucked dry by the Democratic Party in Wisconsin

‘And as much as it hurts to admit this, labor unions just aren’t very popular. In Gallup’s annual poll on confidence in institutions, unions score close to the bottom of the list, barely above big business and HMOs but behind … Continue reading

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Street vandalism, economic vandalism

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Marx professor David Harvey offers take on Crises of Capitalism, illustrated

CUNY Distinguished Professor David Harvey offers a 13-part online reading of Das Capital, Volume 1. But catch this mesmerizing dry- erase presentation of Harvey’s talk THE CRISES OF CAPITALISM.

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The Caracas Commitment Si Se Puede

You might imagine the multinational corporate media would blackout the talk of a 5th Socialist International. They are most determined to censor the issues which the world’s leftist parties are resolved to address. Where Obama 2008 and Copenhagen 2009 project … Continue reading

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Did you elect Obama to finish the job?

  President Obama wants to “finish the job?” What job would that be? Are we talking about a job which Bush started? Because I am pretty sure Mr. Obama was elected NOT to do that. “Finish” Afghanistan? Where was Obama … Continue reading

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USS NY apt reincarnation of WTC steel

Finally the USS New York, famously built from the steel of the fallen twin towers, sails into NY for a photo-op near the site of the WTC, looking every bit to me like a fortified extension of the official 9/11 … Continue reading

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The economic quicksand that sinks us

Funny how it is that when both the Republican Party and the Democratic Party both have the same economic program, that so many of the same actors are pointing fingers at each other? But then again what could we really … Continue reading

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Gandhi possessions safe from defilement

The iconic personal possessions of Mahatma Gandhi were auctioned this week, and will remain in India. Gandhi’s poverty may have been largely symbolic, but his bowl and sandals remain unimpeachable representations of his ideals. If there’s an upside to the … Continue reading

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Economic pie in the sky

Eric and I had fun in Costa Rica playing with a rainbow in the hills outside Santa Elena. We traveled down a narrow bumpy road until the bright double rainbow appeared to end in the backyard of the only house … Continue reading

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Apres nous, le Depression

If it matters what to call this financial crisis, what is it? Is America in a recession? When does a deep recession approach a depression? When is an economic crash revealed to be a collapse? Before we can rename the … Continue reading

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Barack’s 1/2 measures, 1/4 measures, 1/8 measures and… his new health care ‘reform’

Obama signs bill for kids health care program. But look again! Like Obama’s ‘withdrawal’ from Iraq, his ‘renouncement of torture,’ now his new health care measure is a fraud too! Everything about Barack Obama is a fraud! Here is the … Continue reading

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Rush Limbaugh hopes Obama will fail

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The shipping news

The whining and hang-wringing about the “credit crunch” is getting on my nerves. It was this supposed crisis that led to the $700 billion bailout and we’re told every day that it must be solved quickly, no matter the cost, … Continue reading

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Who is the economy calling stupid?

Okay, I’ve had enough of our readiness to believe, about the economy, that nobody knows what’s going on. Nobody will tell you what’s going on, is what’s going on. Even my deepest thinking friend tells me, “Eric, they really don’t … Continue reading

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Did Bush cause the financial crisis?

Did Bush cause the financial crisis? is the question that the BBC’s North America Business Correspondent in New York, Greg Wood briefly explores and his conclusion is not surprising. Here is a summation of his argument. ‘Deregulation started long before … Continue reading

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The gilded age and the police nightstick

A legacy institution of the Gilded Age is the Waldorf=Astoria Hotel. Most of us only know it from the nutty salad, the mysterious Red Velvet Cake recipe, Thousand Island Dressing and Veal Oscar named for the famous maitre d’ hotel. … Continue reading

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Money As Debt video

There is a short 45 minute video called Money As Debt that gives a great explanation of the current Financial Crisis. It is thoughtful, easy to understand, and a well done video with illustrations and quotes from insiders used as … Continue reading

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Fox, CNN, CNBC report nasty downturn

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Time to use the word DEPRESSION again

One of the most ridiculous of the utterly false and phony positive thinking talking points used by the US’s Right Wing corporate daily press and the talking heads of their TV stations is their constant babble about whether we have … Continue reading

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How a ‘credit crunch’ can help kick an economic depression into place

In a system…where the entire continuity of the…process rests upon credit, a crisis must obviously occur — a tremendous rush for means of payment — when credit suddenly ceases and only cash payments have validity. At first glance, therefore, the … Continue reading

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Senators give Paulson keys to treasury

The Senate has signed Paulson’s blank check for the Wall Street ransom payment. Band of Thieves, Murder of Crows, Goddamn Jerk of Senators!   Overheard on the radio about Obama/McCain: “It’s amazing such similar solutions for the economic crisis can … Continue reading

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Credit crunch is a symptom of US economic malaise, not the cause of it

Taxpayers gifting the rich with $7,000,000,000 will not stop the coming capitalist depression at all, because it simply does not address the root causes of anything. We have been told that this crisis is merely the fault of toxic debts … Continue reading

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Stop the Senate of would-be thieves!

Call your Band of Thieving Senators now to tell them you don’t want to give $700 Billion –more honestly likely to be $5 Trillion– to the robber bankers of Wall Street! Telephone Colorado Senators Ken Salazar at 202.224.5852 and Wayne … Continue reading

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