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Archives by Tag 'economics'
Sucker Punched By Speculation
ALAN FARAGO
This terrible idea will not die: that the only way to revive the US economy is to reduce mortgages on homes and property purchased at speculative values. The fact that so many homeowners (like me) did not buy more house than they could afford, did not buy into the specula...
De-Fault Is Ours
STEVE FRASER
In 1729, when Ireland had fallen into a state of utter destitution at the hands of its British landlords, Jonathan Swift published a ...
Just Another Goldman Sachs Take Over
PAUL CRAIG ROBERTS
On November 25, two days after a failed German government bond auction in which Germany was unable to sell 35 per cent of its offerings of 10-year bonds, the German finance minister, Wolfgang Schaeuble said that Germany might retreat from its demands that the private bank...
Two Cheers for “The Story of Stuff”
KEVIN CARSON
If you haven’t watched Annie Leonard’s “The Story of Stuff,” I suggest you do. These videos include detailed examinations of the waste economy, subsidized inefficiency and planned obsolescence. A recent installment, “The Story of Broke,” itemizes wastef...
The Roads To War And Economic Collapse
PAUL CRAIG ROBERTS
November 23, 2011: The day before the Thanksgiving holiday brought three extraordinary news items.  One was the report on the Republican presidential campaign debate. One was the Russian President’s statement about his country’s response to Washington’s mi...
Let Them In
RALPH NADER
From New York City to Oakland, and several cities in between, the police, on orders from city officials, have smashed the Occupy encampments and evicted the protestors from public parks and spaces. More politicians from Congress to the state and local level want the Occu...
Meet the Global Ruling Class
STEVEN COLATRELLA
Padua, Italy. Making economics and politics appear separate is one of the chief characteristics of capitalism as a system of class rule, as Ellen Mieksins Wood has pointed out in many of her writings. But it is how politics is manifested AS economics and e...
Past the Point of No Return
MIKE WHITNEY
“Eurozone banks’ demand for European Central Bank funding surged to a two-year high on Tuesday, as fast spreading sovereign debt worries left lending markets virtually frozen and  the ECB the only available funding option for many institutions....
The Puzzling Persistance of APEC
WALDEN BELLO
The Asia Pacific Economic Cooperation has just concluded its annual summit in Honolulu, once President Obama’s home turf. It will probably be most remembered for the traffic jams it created in the Waikiki Beach area, to the consternation of residents and tourists alike....
A Global Revolt
ROGER BURBACH
Editor’s Note: Occupy Oakland is part of a global movement that is questioning the basic structures of the political and economic system to an extent not seen since 1968. Whether it will succeed in changing these structures is unclear. But it has already...
Don’t Stop Now
REBECCA SOLNIT
Last Tuesday, I awoke in lower Manhattan to the whirring of helicopters overhead, a war-zone sound that persisted all day and then started up again that Thursday morning, the two-month anniversary of Occupy Wall Street and a big day of demonstrations in New York City. It ...
Who Benefits From Austerity Politics?
ROB URIE
With so called “technocrats” being installed in Italy and Greece to lead governments through austerity programs, the discussion of who benefits from these programs and who pays remains largely in the background. When benefits are discussed they are usually couched in ...
Menu for Today’s Tricky Planet: Use Your Head
GABRIEL KOLKO
We live in an enigmatic age, far more complex as the years go by and certainly since the disappearance of the Soviet Union in 1991.  With the failure of so many reformers avoidance of  cynicism about all causes is now an overwhelming challenge.  In a sense, it is the r...
Vulture Funds Gorge on Stricken Economies
OLAFUR ARNARSON, MICHAEL HUDSON and GUNNAR TOMASSON
The problem of bank loans gone bad, especially those with government-guarantees such as U.S. student loans and Fannie Mae mortgages, has thrown into question just what should be a “fair value” for these debt obligations. Should “fair value” reflect what debtors ca...
Europe’s Crash Landing
MIKE WHITNEY
“Italy is now mathematically beyond the point of no return.” –Barclays Capital  The situation in Europe gets more depressing by the day. Policymakers have waited too long and now events are beyond their co...
Street Messiahs
FARZANA VERSEY
“America I’ve given you all and now I’m nothing…I can’t stand my own mind.” – Allen Ginsberg Space is being occupied. What does that space stand for? What does its occupation convey? There are q...
Keynesian Myths and Illusions
ISMAEL HOSSEIN-ZADEH
The Keynesian view that the government can fine tune the economy through “appropriate” fiscal and monetary policies to maintain continuous growth at or near full employment is based on the idea that capitalism can be controlled by the state and managed by professional...
Fury Mounts Among Greek People
PATRICK COCKBURN
Athens Greece last week  was paralysed by a 48-hour general strike that began Wednesday and cast doubt on the unpopular government’s ability to implement reforms demanded by the European Union in return for further bailout money. Black-maske...
Totally Corrupt America
PAUL CRAIG ROBERTS
Last March I reviewed Matt Taibbi’s important book Griftopia, an entertaining account of...
Destroying Estonia
JEFFREY SOMMERS and MARKKU SIPPOLA
The elite financial press continues to promote  their Baltic austerity model.  Last month in CounterPunch,  Michael Hudson and I showed how Anders Aslund, from the bank-funded Petersen Institute, kicked the snowball down the hill to roll and grow regarding the...
Is Capitalism Preparing to Bury Itself?
MURRAY DOBBIN
Where is Henry Ford when you need him? You may remember Henry — the ruthless industrialist who nonetheless refused to be hobbled by suicidal ideology when it came to doing business. He realized as his workers cranked thousands of new cars off the assembly lin...
The Decline and Fall of Just About Everyone
PEPE ESCOBAR
More than 10 years ago, before 9/11, Goldman Sachs was predicting that the BRIC countries (Brazil, Russia, India, China) would make the world economy’s top ten — but not until 2040.  Skip a decade and the Chinese economy already has the number two spot all to its...
How the Cricket Caucus Made a Killing
P. SAINATH
Mumbai Air India might not be doing as well we’d like it to. But the braveheart who flew it fearlessly into dense clouds of debt is doing okay. Praful Patel (who no longer holds the aviation portfolio) added, on average, over half a million rupees (j...
The Sotheby’s Economy
ARI PAUL
While most of America suffers through recession and unemployment, luxury retailers and service providers are doing quite well. With corporate profits remaining high, the moneyed elites continue to enjoy 5-star hotels, private jets, fancy jewelry, and splendid works of art...
Disaster in the Eurozone
MIKE WHITNEY
Martin Tomley previously worked at a major US bank. Now he writes on financial matters and the economy at ...