World-News

Zach Carter, AlterNet: "New York University economist Nouriel Roubini is the author of, most recently, 'Crisis Economics: A Crash Course In The Future Of Finance.' He is considered one of the most prominent and respected economists in the world. When both Wall Street bankers and Bush administration policymakers were insisting that everything was just fine, Roubini was warning about the most dire financial crisis since the Great Depression. In 2007, the financial elite laughed him off, but Roubini was vindicated by the crash of 2008."

http://www.truthout.org/nouriel-roubini-how-break-up-banks-stop-massive-bonuses-and-rein-wall-street-greed59617



Rage Against the Machine

Randall Amster J.D., Ph.D., Truthout: "It's morning in America, and the nativists are getting restless. Often cited amidst the moderate chagrin over rightwing rampaging in recent weeks is the dubious proposition that these factions are openly rebelling against 'business as usual' in US politics. While social movement activities in general are worthwhile, we ought to distinguish between those that actually challenge power and those that are supported by it. In the case of the Tea Party and their ilk, we are witnessing a unique posture whereby people are raging against the system even as they epitomize it."

http://www.truthout.org/rage-agin-machine59581



White Wealth and Black Debt Shot Up in "Growth" Years

Kai Wright, ColorLines: "The wealth gap between Blacks and Whites has grown by fourfold over the course of Generation X's lifetime, exploding to $95,000, a study released today found. And the debt burden among African American families has nearly doubled."

http://www.truthout.org/white-wealth-and-black-debt-shot-up-growth-years59601



Ordinary Workers Would Be Fired in a Second If They Screwed Up Anywhere Nearly as Bad as the Bankers Have

Dean Baker, Alternet: "The world is suffering from the worst downturn since the Great Depression. The crisis has left tens of millions unemployed in the U.S., Europe, and elsewhere. The huge baby boomer generation in the United States, now on the edge of retirement, has seen much of its wealth destroyed with the collapse of the housing bubble."

http://www.truthout.org/ordinary-workers-would-be-fired-a-second-if-they-screwed-up-anywhere-nearly-bad-bankers-have59992

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Govt employee tells the truth
http://www.brasschecktv.com/page/848.html

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Credit Storm in Europe; Politics on Capital Hill

By Mike Whitney

Wall Street has won this round. The window for real reform has closed, and now it's "business as usual" until the next catastrophe.

http://www.informationclearinghouse.info/article25553.htm



The Cult of Subprime Central Bankers

By Dean Baker

People don't need economists to tell them that times are bad. However, what the public may not recognize is that the same people who caused this disaster are still calling the shots.

http://www.informationclearinghouse.info/article25554.htm



Cooking The Books?

Banks Trim Debt, Obscuring Risks

By MICHAEL RAPOPORT And TOM MCGINTY

The practice, known as end-of-quarter "window dressing" on Wall Street, suggests that the banks are carrying more risk most of the time than their investors or customers can easily see.

http://www.informationclearinghouse.info/article25555.htm



US money supply plunges at 1930s pace as Obama eyes fresh stimulus

The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

http://tinyurl.com/36ttfj3



The War is Making You Poor

Next year's budget allocates $159,000,000,000 to "contingency operations," to perpetuate the occupations of Afghanistan and Iraq. That's enough money to eliminate federal income taxes for the first $35,000 of every American's income each year, and beyond that, leave over $15 billion that would cut the deficit.

http://salsa.mydccc.org/o/30019/p/dia/action/public/?action_KEY=34



Both parties packing pork into war-funding bill

The bill has grown into a nearly $200 billion grab bag of unfinished business that includes $1 billion for summer-jobs programs, $1.5 billion in aid to farmers who had crops damaged and $4.6 billion to settle two long-running lawsuits against the government, one by black farmers claiming discrimination and one by American Indians over the government's management of their land.

http://seattletimes.nwsource.com/html/nationworld/2011952818_warcost26.html


From Information Clearing House



http://freepage.twoday.net/search?q=Obama
http://freepage.twoday.net/search?q=bipartisan
http://freepage.twoday.net/search?q=war+funding
http://freepage.twoday.net/search?q=deficit
http://freepage.twoday.net/search?q=stimulus
http://freepage.twoday.net/search?q=financial+crisis
http://freepage.twoday.net/search?q=Great+Depression
http://freepage.twoday.net/search?q=financial+reform
http://freepage.twoday.net/search?q=financial+elite
http://freepage.twoday.net/search?q=Wall+Street
http://freepage.twoday.net/search?q=Big+Banks
http://freepage.twoday.net/search?q=bonus
http://freepage.twoday.net/search?q=greed
http://freepage.twoday.net/search?q=money+supply
http://freepage.twoday.net/search?q=contingency+operation
http://freepage.twoday.net/topics/Iraq+War+-+Irak+Krieg/
http://freepage.twoday.net/topics/Afghanistan/
http://freepage.twoday.net/search?q=taxpayer
http://freepage.twoday.net/search?q=Nouriel+Roubini
http://freepage.twoday.net/search?q=Tea+Party
http://freepage.twoday.net/search?q=African+American
http://freepage.twoday.net/search?q=housing
http://freepage.twoday.net/search?q=bubble
http://freepage.twoday.net/search?q=unemploy
http://freepage.twoday.net/search?q=retirement
http://freepage.twoday.net/search?q=Zach+Carter
http://freepage.twoday.net/search?q=Randall+Amster
http://freepage.twoday.net/search?q=Kai+Wright
http://freepage.twoday.net/search?q=Mike+Whitney
http://freepage.twoday.net/search?q=Dean+Baker
http://freepage.twoday.net/search?q=MICHAEL+RAPOPORT
http://freepage.twoday.net/search?q=TOM+MCGINTY