reheated

Krugman Confirms GR.info’s Thesis that EU will suffer worse slump due to monetarist orthodoxy

By PAUL KRUGMAN
Published: March 16, 2009
I’m concerned about Europe. Actually, I’m concerned about the whole world — there are no safe havens from the global economic storm. But the situation in Europe worries me even more than the situation in America.
Just to be clear, I’m not about to rehash the standard American complaint that Europe’s [...]

Ponzimonium in Sight

US watchdog fears market Ponzimonium
By Javier Blas,  March 20 2009
US federal regulators have warned of a “rampant Ponzimonium” as they disclosed they are investigating “hundreds” of possible scams in the aftermath of the $50bn fraud allegedly perpetrated by Bernard Madoff.
Bart Chilton, a commissioner at the Commodities Futures Trading Commission, the US regulator, said the watchdog [...]

Class War in France?

SARKOZY WARNED OF ‘CLASS WAR’
France faces a “class war” that could undermine President Nicolas Sarkozy’s reform efforts and spark a period of damaging labour unrest, one of the country’s most prominent business leaders has warned. In an interview with the Financial Times as France braced for its second national strike in less than two months, [...]

AIG Chief Faces Pink Anger on Capitol Hill

Edward Liddy, AIG chief exec, was confronted by Pink Code women protesters as he arrived to testify in Washington amid public fury over the large bonuses paid to him and other top managers of the insurance company after it was rescued with $170 billion of taxpayers’ money.
“Give our money back, you greedy bastard!”

Bank Activist Arrested in Barcelona

17 March 2009
Enric Duran aka Robin Bank presented a new publication on the crisis entitled “We can live without capitalism” and then was arrested in Barcelona. Enric Duran is the Catalan activist that in September made public an action of bank disobedience. “I have ‘robbed’ 492,000 euros from those who rob us blind, in order [...]

Dollar Rise and International Macroeconomic Instability

A Rising Dollar Lifts the U.S. but Adds to the Crisis Abroad
By PETER S. GOODMAN
Published: March 8, 2009
As the world is seized with anxiety in the face of a spreading financial crisis, the one place having a considerably easier time attracting money is, perversely enough, the same place that started much of the trouble: the [...]

Middle-Class Europe Made Precarious by Crisis

AGITATION AS MIDDLE-CLASS EUROPE STRUGGLES TO COPE
By John Thornhill
Economics is convulsing European politics. Governments have fallen in Iceland and Latvia; strikes or protests have erupted in Greece, Ireland, France, Germany, Britain, Lithuania, Ukraine and Bulgaria. Financial turmoil has shaken even the continent’s furthest-flung outposts: the French Caribbean island of Guadeloupe has been ravaged by violent [...]

Neoliberalism Dug its Grave

SEEDS OF ITS OWN DESTRUCTION
By Martin Wolf
Published: March 8 2009

Another ideological god has failed. The assumptions that ruled policy and politics over three decades suddenly look as outdated as revolutionary socialism.
“The nine most terrifying words in the English language are: ‘I’m from the government and I’m here to help.’” Thus quipped Ronald Reagan, hero of [...]

Financial Fools Day: Let’s Make the Fools Pay!

G20 Meltdown,  April 1st 2009
http://www.g-20meltdown.org
Come to London’s biggest ever street party!
On Financial Fools Day, The City of London will form the backdrop for the biggest mobilisation of the people since more than a million marched against the illegal invasion and occupation of Iraq. Thousands and tens of thousands
are expected to take to the streets to [...]

The Glut and The Slump

BY PAUL KRUGMAN
March 2, 2009
Remember the good old days, when we used to talk about the “subprime crisis” — and some even thought that this crisis could be “contained”? Oh, the nostalgia!
Today we know that subprime lending was only a small fraction of the problem. Even bad home loans in general were only part of [...]