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HOW MODERN MONEY WORKS — Economist Alan Nasser presents a slashing indictment of the vicious nature of finance capitalism; The Bio-Social Facts of American Capitalism: David Price excavates the racist anthropology of Earnest Hooten and his government allies; Is Zero-Tolerance Policing Worth More Chokehold Deaths? Martha Rosenberg and Robert Wilbur assay the deadly legacy of the Broken Windows theory of criminology; Gaming the White Man’s Money: Louis Proyect offers a short history of tribal casinos; Death by Incarceration: Troy Thomas reports from inside prison on the cruelty of life without parole sentences. Plus: Jeffrey St. Clair on how the murder of Michael Brown got lost in the media coverage; JoAnn Wypijewski on class warfare from Martinsburg to Ferguson; Mike Whitney on the coming stock market crash; Chris Floyd on DC’s Insane Clown Posse; Lee Ballinger on the warped nostalgia for the Alamo; and Nathaniel St. Clair on “Boyhood.”
Archives by Tag 'European Union'
Europe Moves Closer to Banktatorship
MIKE WHITNEY
Yields on 10-year Treasuries plunged to a record-low 1.56 percent on Thursday morning as panicky investors stormed out of European financial assets into German and U.S. government bonds.  Deteriorating credit conditions, a flurry of ratings downgrades, and bank runs ...
Another One Bites the Dust
MARSHALL AUERBACK
It might seem strange to invoke Freddie Mercury and Queen in the context of the eurozone, but it’s the first thought that springs to mind, as Brussels and the increasingly hapless ECB, continue to mismanage their way to financial and economic catastrophe. Yesterday, the...
Greece and Our Illusions
SAMIR SONTI
While it may be premature to speculate on the legacy left by the various social upheavals that have occurred since early-2011, the electoral tide sweeping across Europe offers additional evidence that something fundamental is happening. In Greece and France, vote...
Failing Greece
MIKE WHITNEY
“Austerity has failed because Greek society has been destroyed, the production base has been dissolved. Our country has been in a deep recession for five consecutive years. This has never happened in Europe in peacetime.” –Alexis Tsipr...
Graveyard Humor in Belgrade
DIANA JOHNSTONE
Paris Since graveyard humor is a Serbian specialty, it seems appropriate that Serbs just played a little joke on everybody by electing a former undertaker as President. In the May 20 runoff, affable former funeral home manager Tomislav Nikolic won s...
The Age of Competing Nationalities
PATRICK COCKBURN
The crises in Europe and the Middle East are very different but they are beginning to cross-infect each other, creating a general mood of uncertainty and fear. In the Middle East, the Arab Spring was at first seen as wholly positive, as dictatorships and police states tum...
Why America is Doomed to One Disaster After Another
GABRIEL KOLKO
Both Europe and the United States confront great crises; while they are different in certain regards they have important similarities too.  America’s crisis is both military and economic; they are interrelated because America has a huge deficit, in large part be...
We’re All Greeks Now
ROB URIE
One of the joys of being American is that every new day is a clean slate—no history, no memories, no experiences, a complete blank. This may help explain why our national conversations serve their intended purposes while being entirely content-free. Newsflash to self-de...
Austerity Backlash
JACK RANDOM
The countries that are doing very well in Europe are the Scandinavian countries. Denmark is different from Sweden, Sweden is different from Norway – but they all have strong social protection and they are all growing. The argument ...
As the Mutiny Spreads, It’s Clear: Europeans Have Had Enough!
ALEXANDER COCKBURN
Watch Europe tip left and right as voters rise in fury against the austerity menu that’s been bringing them to utter ruin. In Holland, the right-wing Freedom Party leader Geert Wilders brought down the governing coalition on Monday bellowing his defiance for the  ̶...
The Meaning of “Austerity Measures”
MIKE WHITNEY
The eurozone is slipping into a recession that could have been avoided. Had policymakers provided fiscal support for stricken countries in the South and guarantees on their government bonds, (as the USG does for US Treasuries) then their economies could have continued t...
Disillusion With the Euro and Europe
DIANA JOHNSTONE
Democratic elections in the NATO member states serve one clear purpose. They contribute to the self-satisfaction concerning “our values” needed to justify military intervention in the imperfect internal affairs of other countries.  But do the citizens really decide p...
No Exit in EU
JEFFREY SOMMERS
Peter Praet, Chief Economist of the European Central Bank, defended the ECB’s policies at Levy Institute’s annual Minsky meeting at the Ford Foundation this past week in New York that. In his remarks, he retreaded the EU’s wheels with the same rhetoric of inflation ...
What Could Have Happened in Spain
VICENTE NAVARRO
There are some misconceptions that exist about Spain among large sectors of the progressive community in the United States.  Partially this is a result of the very poor coverage that exists about Europe in general and about Spain in particular in the press in the U.S.  ...
Saudi Arabia’s Free Pass
SERGE HALIMI
Saudi Arabia’s record is no better than Iran’s when it comes to respect for human rights. Yet the international community always manages to overlook the Wahhabi monarchy. Could this be connected with Saudi Arabia’s status as top oil-producing country and trusted all...
Greece Throws in the Towel, Bows to German Jackboot
PATRICK COCKBURN
Greeks expect to agree a deal with the Eurozone leaders today, Monday, that will cede much of their country’s independence. Greece will become an economic – and to a large extent a political – colony of Germany and its allies. Berlin will have a say in everythin...
The Turkish Riddle
PATRICK COCKBURN
Istanbul In the tea houses of Istanbul the mood is generally optimistic as customers listen to the news of the European economic crisis. “Turkey doesn’t need Europe,” says one tea drinker. “Look at Greece – it was inside th...
Will Turkey Join Sick Men of Europe?
PATRICK COCKBURN
Are the Turks seeing the Ottoman Empire reborn or are they going to be the next victims of economic chaos in Europe and political turmoil in the Middle East? Is Turkey about to pay a price for the overconfidence bred by a decade that brought it triumphant success while it...
GMO’s Move Out
IGNACIO CHAPELA
This week BASF announced that it is moving its GMOs out of Europe. Will the English-speaking media lose its nerve and write about it? Based on past experience, my wager goes to the habitual policy of silence, and I expect that the news will continue all but unrecorded in ...
Vulture Funds Profit Off Greek Misery
NICK DEARDEN
The hamstrung negotiations over a new Greek bail-out recommence tomorrow with little sign of resolution. As the Greek economy suffers from rapidly rising unemployment and debt levels, and its people experience rises in rates of suicide, murder and HIV, big profits still s...
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...