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HOW DID ABORTION RIGHTS COME TO THIS?  — Carol Hanisch charts how the right to an abortion began to erode shortly after the Roe v. Wade decision; Uber vs. the Cabbies: Ben Terrall reports on the threats posed by private car services; Remembering August 1914: Binoy Kampmark on the enduring legacy of World War I; Medical Marijuana: a Personal Odyssey: Doug Valentine goes in search of medicinal pot and a good vaporizer; Nostalgia for Socialism: Lee Ballinger surveys the longing in eastern Europe for the material guarantees of socialism. PLUS: Paul Krassner on his Six Dumbest Decisions; Kristin Kolb on the Cancer Ward; Jeffrey St. Clair on the Making of the First Un-War; Chris Floyd on the Children of Lies and Mike Whitney on why the war on ISIS is really a war on Syria.
Archives by Tag 'European Central Bank'
A Death Sentence for Greece
MIKE WHITNEY
“We are facing destruction. Our country, our home, has become ripe for burning. The centre of Athens is in flames.” – Costis Hatzidakis, conservative parliamentarian ...
The Troika Blackmails Greece
MIKE WHITNEY
“We are being asked to take even larger doses of a medicine that has proven to be deadly and to undertake commitments that do not solve the problem, but only temporarily postpone the foretold death of our economy.” — Hieronymos II, hea...
Draghi’s 489 Billion Euro Fakery
MIKE WHITNEY
ECB president Mario Draghi’s new lending facility–the Long-Term Refinancing Operation–has helped to pull the financial system back from the brink of another Lehman-type catastrophe, but it doesn’t address the fundamental problems that created the c...
The Eurozone’s Looming Credit Crunch
MIKE WHITNEY
While EU policymakers make arrangements for their 14th summit in the last two years, Europe’s flagging economy continues to slip deeper into recession. On Monday, the Eurozone’s Manufacturing Purchasing Managers’ Index (PMI) reported that production and ...
Failure to Reflate
MIKE WHITNEY
For the second time in three years, the banking system has collapsed, which means that the banks are no longer able to fund themselves through the normal means, the wholesale markets. This same thing happened in July 2007 when two Bear Stearns hedge funds defaulted and tr...
The $600 Billion Ripoff
MIKE WHITNEY
European Central Bank president Mario Draghi is either a liar or a fool.  Either way, he should be canned immediately before he dumps more money into an EU banking system sinkhole. What’s all the fuss about? Here’s a clip from Bloomberg that explains...
Draghi’s Real Goal in the Eurozone
MIKE WHITNEY
Imagine if your banker offered to lend you a $150,000 to make up for the money that you’d lost on your home since the housing bubble burst in 2006. And, let’s say, he agreed to lend you this money for 3 years at rock-bottom rates of 1 percent provided that you...
The ECB’s High Wire Act
DEAN BAKER
At this point the sovereign debt crisis in Europe is almost getting boring. We’ve seen the same script played out over and over with country after country. The basic story is the markets begin a run on the debt of a country: Greece, Ireland, Italy, Spain etc. The...
Greece in Chaos
NOËLLE BURGI
“Who knows what tomorrow will bring?” people ask in Athens, Salonika and right across Greece. There’s a sense of collective imprisonment, individual uncertainty and impending catastrophe. Yet Greece has had a turbulent history, and the Greeks have always...
Why Euro Plan Is Doomed to Fail
GABRIEL KOLKO
There are extremely important differences between this decade and the period after the First World War and through the early 1930s. The most crucial is that no fascist or Communist or revolutionary threats exist now if the great economic powers do not meet the econ...
The Colossal Muddle
MIKE WHITNEY
“Today we have involved ourselves in a colossal muddle, having blundered in the control of a delicate machine, the working of which we do not understand. The result is that our possibilities of wealth may run to waste for a time—perhaps for a long time...
Freezing Out Britain
BINOY KAMPMARK
There is much more in the way of European chatter taking place in that troubled part of the world.  Discussions held at the Brussels summit on Friday saw the 27 countries of the EU attempting to forge an agreement in an effort to create what would effectively amount to a...
Europe’s Deadly Transition From Social Democracy to Oligarchy
MICHAEL HUDSON
The easiest way to understand Europe’s financial crisis is to look at the solutions being proposed to resolve it. They are a banker’s dream, a grab bag of giveaways that few voters would be likely to approve in a democratic referendum. Bank strategists learned not to ...
Another Summit Fiasco
MIKE WHITNEY
When the book is finally closed on this week’s EU summit, it’ll be interesting to see what people remember the most. Will it be the proposed changes to the Lisbon Treaty, the new steps towards fiscal integration or the disgraceful behavior of David Cameron?...
“Fiscal Union” Merkel-Style
MIKE WHITNEY
Angela Merkel has a cure for the eurozone’s pesky debt crisis. Hair shirts and stiffer penalties. Aside from that, the German Chancellor has very little to offer by way of a remedy. In fact–what was so surprising about Monday’s widely-anticipated press c...
Austerity for Europe
MARK WEISBROT
The house is on fire and the owners are arguing about what kind of safety regulations should be implemented in the future so as to prevent these types of fires.  That is what appears to be going on in the eurozone right now, as European leaders try to reach agreement on ...
Wrecking the World Economy
DEAN BAKER
The world is eagerly waiting to see if the European Central Bank (ECB) will take the steps needed to save the euro. Specifically, is the ECB prepared to act as a central bank and guarantee the sovereign debt of the countries in the eurozone as the lender of last resort or...
There Will Be Blood
MARSHALL AUERBACK
Another week to go before the euro blows up, or so we’re told again for the thousandth time. More likely is that the ECB does barely enough to keep the show on the road, fiscal austerity continues and riots intensify on the streets of Madrid, Athens, Rome and Paris.  L...
One Bank to Rule Them All
MIKE WHITNEY
On Wednesday, the Federal Reserve and the central banks of Canada, England, Japan, Switzerland, and Europe launched a coordinated monetary intervention aimed at easing interbank lending in the eurozone. While the emergency action sent stocks into the stratosphere, it did ...
The One Percent Solution in Europe
SAUL LANDAU
Last month a Super Committee (12Members of Congress) failed to decide — fortunately — our economic destiny: where our tax money would go – or not. Yes, capitalism failed again. And with it went democratic procedures in the political arena. Big Facts: ...
A Self-Inflicted Recession Threatens World Economy
MARK WEISBROT
The economic news out of the eurozone is getting worse every day, and so is the contagion to the rest of the world. The OECD (Organization for Economic Co-operation and Development), the club of 34 mostly high-income countries, has now lowered its projection for eurozone ...
An Irreversible Slide?
MIKE WHITNEY
“In every crisis there’s a point of no return….I’m increasingly convinced we’ve already passed that point of no return in Europe. The banks won’t lend to each other, the Germans won’t do Eurobonds, and the ECB won’t act as a lender of l...
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...
The European Bank’s Ideological Zealots
DEAN BAKER
The European Central Bank (ECB) has been working hard to convince the world that it is not competent to act as central bank. One of the main responsibilities of a central bank is to act as the lender of last resort in a crisis. The ECB is insisting that it will not fill t...
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...