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SHOCK AND AWE OVER GAZA — Jonathan Cook reports from the West Bank on How the Media and Human Rights Groups Cover for Israel’s War Crimes; Jeffrey St. Clair on Why Israel is Losing; Nick Alexandrov on Honduras Five Years After the Coup; Joshua Frank on California’s Water Crisis; Ismael Hossein-Zadeh on Finance Capital and Inequality; Kathy Deacon on The Center for the Whole Person; Kim Nicolini on the Aesthetics of Jim Jarmusch. PLUS: Mike Whitney on the Faltering Economic Recovery; Chris Floyd on Being Trapped in a Mad World; and Kristin Kolb on Cancer Without Melodrama.
Archives by Tag 'Banks'
The Finance Bomb
ROB URIE
A sort of joke making the rounds a few years back had (billionaire) Bill Gates walking into a working class bar. The joke was that the moment he did everyone in the bar on average became a billionaire. Understand—he didn’t give away any money or, other than possibly o...
Why Cheaters Prosper
MIKE WHITNEY
Now there’s something you don’t see every day. If I told you that the Wall Street Journal ran no less than 3 articles in the last week promoting more regulations, you’d think I was crazy. But it’s true. And, for once, the WSJ...
Fast-Tracking Evictions in Spain
TOM GILL
The Spanish government has come up with draft legislation that it claims will jumpstart the country’s t...
The Housing Double-Whammy
MIKE WHITNEY
The nation’s biggest lenders are doing everything they can to reverse the slide in housing prices and put the market back on solid footing. And they’ve had some success, too. In Maricopa County, for example, where prices on some homes dropped more than 60 perc...
Ransoming Children and Other Hip Debt Collection Strategies
CHRISTOPHER BRAUCHLI
[I]dealism in our time has been shoved aside, and we are paying the penalty for it. Alfred North Whitehead, Dialogues of Alfred North Whitehead, Prologue It’s time for an update on activities occurring in the world of high...
Give Bernanke a Pink Slip
MIKE WHITNEY
  You don’t need to comb the pages of the Wall Street Journal or the Financial Times to know what’s going on with the economy. Just take a look at Bloomberg Bonds and skip-down to the price/yield section on 10-year US Treasuries. ...
How to Save the Postal Service
ELLEN BROWN
On July 27, 2012, the National Association of Letter Carriers adopted a resolution at their National Convention in Minneapolis to investigate establishing a postal banking system.  The resolution noted that expanding postal services and developing new sources of revenue ...
Along the Border of the Surreal
PAUL IMISON
San Diego. If the Mexico-US border is the most surreal international boundary in the western hemisphere – often described as the only place where the so-called “First World” meets the Third, with all the envy, prejudice and distrust that implies – ...
The UN and the Financial Crisis
ROBERT H. WADE
Among those who care about the fate of the United Nations it is widely assumed — and regretted — that the UN stood on the sidelines at the start of the global financial crisis, and let the G20, the International Monetary Fund and the World Bank take the lead in an int...
The Dark Heart of the Libor Scandal
MARK VORPAHL
Though, for most, the London Inter-Bank Offer Rate (Libor) interest rate fixing scandal appears to be distant and far too complex to understand, its potential consequences may be as economically devastating as a world war. The Libor is used to set payments on $800 ...
The New Transnational Elite
ROBERT HUNZIKER
The world’s epicenter of capitalism is the United States, and its reach/power/influence circumnavigates the globe. The elites of the capitalist class are no longer tied to territoriality or driven by national competition. “U.S. capitalism has expanded its reach by mor...
The Mystery of Rising Housing Prices
MIKE WHITNEY
“What we are seeing is a bottoming out of home prices. This is a good thing overall for everyone. It means we no longer have that vicious cycle between declining home prices and buyers and sellers remaining on the sidelines.” –Gregory ...
The Trouble With Bubbles
DEAN BAKER
The United States has more than 20 million people unemployed, underemployed or out of the workforce altogether because of a burst housing bubble. We also have more than 10 million homeowners who are underwater in their mortgages. And, we have tens of millions of people ap...
Shrinking Wall Street
MOSHE ADLER
If you want to make Adam Smith, the founder of economics, and George Stigler, the Nobel Prize winning economist, spin in their graves, say the words “LIBOR scandal.”  LIBOR – London Interbank Offered Rate — is, as everyone learned this past week...
The Meaning of Libor-gate
PAUL CRAIG ROBERTS
The price of Treasury bonds is supported by the Federal Reserve’s large purchases. The Federal Reserve’s purchases are often misread as demand arising from a “flight to quality” due to concern about the EU sovereign debt problem and possible failure of the euro....
How Banks Cheat
CHRISTOPHER BRAUCHLI
I think a lie with a purpose is wan iv the’ worst kind an’ the mos’ profitable. – Finley Peter Dunne On Lying There was something refreshing about Bernie Madoff.  He robbed Peters to pay Pauls and it worked well...
Titanic Banks Hit Libor Iceberg
ELLEN BROWN
At one time, calling the large multinational banks a “cartel” branded you as a conspiracy theorist.   Today the banking giants are being called that and worse, not just in the major media but in court documents intended to prove the allegations as facts.  ...
What’s Really Driving Income Inequality?
DAVID ROSNICK
Over the last several decades, inequalities in both incomes and wealth have grown substantially within the United States and in other high-income nations. In the United States, for example, the income share of just the top one half of the top 1 percent grew from 5.39 perc...
A Market in Ruins
MIKE WHITNEY
According to a recent report by Clear Capital, “The nation’s home prices rebounded with quarterly and yearly gains of 1.7%.” The Home Data Index (HDI) report, which was released on July 10, shows that “Regional performance improved across the boardR...
News Digested
LINH DINH
7/1/12—Citing Iran’s nuclear ambition, America and her hushed puppies impose oil embargo on Islamic republic. Going on four years now, the global economic depression has kept oil price in check, so this embargo is meant to stop it from dropping furthe...
Banksters Take Us to the Brink
BILL MOYERS and MICHAEL WINSHIP
Every day brings more reminders of the terrible unfairness that besets our country, the tragic reversal of fortune experienced by millions who once had good lives and steady jobs, now gone. An article in the current issue of Rolling Stone chronicles “The...
System Failure
ROB URIE
Bankers are losing their jobs and the financial press is up in arms over the manipulation of a key interest rate, LIBOR (London Inter Bank Offer Rate). The manipulation is a big deal because of how large of an effect LIBOR has– $750 trillion of Swaps (notional) is o...
Banking on Zeros
LINH DINH
I was just on Press TV with Gabriel Talmain, professor of economics, and Shabbir Razvi, economist. Both men are based in London, a fact that explains a linguistic mishap I had that was baffling, infuriating, then finally amusing. We’ll get to it. Asked about the ...
Gaming the System
MIKE WHITNEY
“If there is any message of the last few years, it’s that banks and bankers simply cannot be trusted.” – Tim Price, Asset Manager at PFP Group LLP More than a dozen of the world’s top banks are currently being inves...
Housing Market Smackdown
MIKE WHITNEY
There’s no question that Canada’s gigantic housing bubble is going to burst. It’s just a matter of when. Housing prices in Canada have more than doubled in the last 10 years, and in cities like Toronto and Vancouver, prices are up more than 140 pe...