Credit Where Credit is Due

By Mike Whitney

Do people realize that the reason their home equity is vanishing, their 401ks have been slashed in half and their jobs are at risk is because Wall Street was gaming the system with leverage and financial innovation? The current downturn is not really a recession at all; it's more like a self-inflicted wound perpetrated by avaricious speculators who put a gun to the economy's head and blew its brains out.

//www.informationclearinghouse.info/article22667.htm



The Toll Booth Economy

By Michael Hudson

China's central bank is now the largest holder of U.S. government and other dollar securities, it has become the main subsidizer of the U.S. payments deficit - and also the domestic U.S. federal budget deficit. Half of the federal budget's discretionary spending is military in character. This places China in the uncomfortable position of being the largest financier of U.S. military adventurism.

//www.informationclearinghouse.info/article22668.htm



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