Can state-capitalist China inherit the USA as hegemon? (tags)
China's growth is also running on credit, and the People's Republic is similarly highly indebted as the descending Western centers of the world system.10 The Chinese deficit economy is generating even far greater speculative excesses than was the case in the U.S. or Western Europe,
IMF Provides Emergency Food Crisis Loans (tags)
The IMF launches the Food Shock Window to aid countries facing food shortages by expanding access to rapid, low-interest loans.
The Corona crisis is currently overshadowing three crises that are also currently being - covertly - negotiated: First, an economic crisis since the fall of 2019. Second, the crisis in municipal finances Third, an investment crisis, better known as an investment backlog.
Large corona aid for "small" companies (tags)
Dozens of tenants in buildings owned or managed by Trump received funds. More than 20 companies registered at 40 Wall Street, an office building Trump has owned since the mid-1990s, have also reportedly received government loans of at least $20 million.
"We do not live in capitalism" (tags)
After the transition to Atlantic turbo-capitgalism, little can be recognized from the earlier times of the initiatives of the social market economy. In this situation, the counter-factual and fact-immune creed of all conservatives is enmeshed in a deep unconsciousness about the world.
Mozambique Audit Reveals Corruption and Short Falls in Financial System (tags)
Ahead of President Trump's first G20 meeting in Germany this weekend, Mozambique released an audit exposing violations of the country's laws to secure now-defaulted loans.
An Uncertain Future for the Consumer Financial Protection Bureau (tags)
The future of a federal consumer watchdog agency is uncertain amidst pledges to reduce the agency.
Consumer Protection Bureau Unveils New "Payday" Lending Rules (tags)
The Consumer Financial Protection Bureau releases new rules governing "payday" lending - high interest loans that impact low-income communities.
Report Questions Florida Payday Lending Rules (tags)
A new report by the Center for Responsible Lending says “payday” lending fees cost Florida residents $2.5 billion over the past decade.
Wall Street Rally: Hold the Cheers (tags)
Wall Street
World Bank Announces Package of Aid and Loans to Ebola-Affected Countries (tags)
The World Bank announces $650 million in new concessional loans and grants for Liberia, Guinea, and Sierra Leone at the start of the Spring IMF and World Bank Meetings.
Abolishing student loans will greatly reduce college costs. (tags)
College costs are greatly increased by states relying on federal student loans to be repaid by students instead of state subsidies even for in state students.
Argentina's Christina Fernandez de Kirshner's UN Address (tags)
predatory capitalism
interest free cooperative society on the anvil (tags)
interest free cooperative society
Philippine Debt Repayments from Marcos Regime Overshadow Typhoon Relief Funds (tags)
Two weeks after Typhoon Haiyan devastated the Philippines, the world has responded with astounding generosity, donating tens of millions of dollars to aid in the recovery effort--$37 million from the United States government alone. Unfortunately, since the typhoon struck on November 8th, the Philippines has spent more than $310 million paying off overseas debts, and it will spend a total of $6.7 billion this year alone. Some of those debts are from the corrupt and abusive regime of Ferdinand Marcos.
Norwegian Audit Finds Loans to Developing Countries Don’t Follow New Lending Standards (tags)
America's Student Loan Racket: Stiffer Debt Boondage Coming (tags)
class war
Defending IMF Financial Terrorism (tags)
class war
Payday Loans: Modern Day Usury (tags)
usury
Faith Groups Call on Congress to Protect Student Loans (tags)
America's Student Loan Racket (tags)
student loans
City (Vancouver BC) announces rent bank for vulnerable residents (tags)
to read Barbara Ehrenreich's "The poor always with us, necessarily not us" published in: The Guardian, click on http://www.guardian.co.uk/commentisfree/cifamerica/2012/mar/15/the-poor-always-with-us/print
Responsible New York Banking (tags)
banking
Dark hours canidate for 2012 run at White house gaining vast support Arthur swenson (tags)
New canidate pulling ahead fast but media will not say his name
America's Student Loan Debt Bondage (tags)
class war
Expand the #OWS movement to include Occupy the courts!
Occupy Demands And Civil Disobedience Guidelines (tags)
Demand one: Restoration of the living wage.
IMF Financial Terrorism (tags)
financial terrorism
Public Banking: An Idea Whose Time Has Come (tags)
public banking
America's Student Loan Racket: Soaring Default Rates (tags)
student loans
An Expansion of Terms Used in the Coffee Party Article by RP (tags)
I apologize for the weak structure in this article. I was hoping to write something that explained some of the material in the story, but ended up going a bit afield with the information. This article attempts to be neutral and nonpartisan, or at least not shrill, and avoids too much analysis. The nature of the Great Recession is difficult to sum up in a few pages, because it's a failure of a complex system with many parts, and many related behaviors, that led to the near-collapse of capitalism.
Permanent Debt Bondage from America's Student Loan Racket (tags)
mega-theft
Systemic Washington-Sanctioned Fraud (tags)
massive fraud
What Real Financial Reform Looks Like (tags)
Washington financial reform assures business as usual
Greenspan and the Guilt of Others (tags)
Before the committee, Greenspan immediately went on the offensive (cf. Creole trick). The irresponsible loans of banks caused the crisis, not the low interest of the Fed. The Fed failed in regulating the banks because its employees were not neutral.
Support the Protests says Ohio Socialist Senate Candidate (tags)
Dan La Botz, the Cincinnati school teacher who joined the Ohio race for U.S. Senate last month, issued a statement today supporting the national day of protests over the crisis in education. He also called for the creation of system of free, quality public education such as some states, such as California, had in the 1960s. “The Obama administration and the U.S. Congress provided trillions in grants, loans, and federal insurance to banks and corporations for the bailouts,” said La Botz. “The total military and war budget comes to almost $750 billion dollars. The President’s proposed education budget is just under $50 billion dollars. The Obama government provided hundreds of times more money to the bankers than it will to teachers and students, and it will spend 15 times more on arms and war than on our children’s education. Obama proposes more loans for college students, loans that will saddle more families and students with more debt. We don’t need loans—we need free education.”
Selling Out America to Wall Street (tags)
pillaging American wealth
The Economic Crisis Ends; the Political Crisis Begins (tags)
First Iceland, then Ireland, now Greece. Much of Europe is mired in inescapable debt and bankrupt nations, the result of crashing banks, bank bailouts, and soaring unemployment. The U.S. and U.K. watch from a distance, knowing their turn is next. The European corporate-elite — like their American counterparts — lavished non-stop praise on the “bold yet necessary” decision to bail out the banks; the economy was supposedly saved from “impending collapse.” But every action has an equal but opposite reaction. Bailing out the banks saved the butts of dozens of European bankers, but now millions of workers are about to experience a thundering kick in the ass.
A Surge in Demands on Government for Jobs (tags)
Thanks to the government bailout, bankers and brokers are now self-righteously pocketing their record bonuses, reassured by Goldman Sachs CEO Lloyd Blankfein that they are doing “God’s work” (The New York Times, November 17, 2009). There is no humility in these quarters. Yet working people continue to be battered by relentlessly rising unemployment, caused by an economic crisis they had no part in creating. Officially the rate stands at 10.2 percent with the unofficial rate hovering around 17.5 percent, since it also includes part-time workers wanting full-time work and those who are discouraged and no longer looking for work. Both statistics are on the verge of rising.
Students and Workers Resist Privatization at UCLA Regents Meeting (tags)
LOS ANGELES, UCLA Campus - November 19, 2009 – An estimated 2,000+ students and union workers took part in various actions campus-wide this week. Covel Commons where the UC Regents held their last day of meetings was completely surrounded by students and workers with arms locked together. They formed a human chain of solidarity against the regents complicity in the ongoing privatization of the UC system.
Benefits of "Stimulus Jobs" Could Be Offset by Forced Health Insurance proposals (tags)
Government Forced Health Insurance May Cause Job Losses In Construction, Manufacturing and Other Housing Related Industries.
FDC to G8-funded World Bank: Cancel all illegitimate debts (tags)
MANILA, Philippines. Members of the Freedom from Debt Coalition (FDC) staged a protest action in front of the World Bank office here today to demand the total and unconditional cancellation of all debts it is claiming from the Philippines and developing nations. The protest action coincided with the opening of the Group of Eight Nations’ (G8) 35th Summit in Italy which sets among its agenda the development of a comprehensive response to the global economic crisis.
General Strike Needed to Oppose Cal Gov cuts & Obama's no aid (tags)
Republican Governor Schwarzenegger refuses to ask for loans until the gains of the workingclass are destroyed and Democratic President Barack Obama has refused to provide aid to California, although he did give over $700 billion to the banks with no accountability , the same banks which refuse to provide loans to anyone who has serious need where it be private businesses or governments. Bank excess reserves have skyrocketed from almost zero to over $800 billion since Fall 2008. Labor must respond with GENERAL STRIKE.
Was the Prez Obama bribed by AIG ? (tags)
see this informative article about the meltdown, the 25 main cheating money grabbers, and how much AIG, a huge bailer outed had contributed to Obama's recent campaign in 2008 =see http://www.publicintegrity.org/investigations/economic_meltdown/assets/img/Chart5-fullsize.jpg
Reviewing Ellen Brown's "Web of Debt": Part VI (tags)
Part VI of Federal Reserve Plunder
Let's Really Attack our Economic Problems (tags)
Let’s show the trickle down theory the door. If a goodly majority ever faces economic reality, we could fashion a better world. It is however the wealthy that will have to sacrifice.
"Low-Wage Capitalism" Author Speaks in San Diego (tags)
Fred Goldstein, contributing editor of the Workers' World newspaper and author of the new book "Low-Wage Capitalism," spoke at the Malcolm X Library April 18 and described the current economic collapse as a classic "crisis of overproduction" in the Marxist sense. Though Wall Street greed and the bursting of the housing bubble played a part, he said, the real cause was the capitalist class's success in driving working people's wages down, not only in the U.S. but worldwide, to the point where workers can no longer afford to consume the products they produce. He called for a mass progressive movement to make explicit economic demands, especially jobs.
Instead of borrowing trillions and sticking future generations of taxpayers with the cost of bailing out a corrupt and ineffective financial system, the federal government should use the bailout money and charter a bank of its own,one that could offer loans directly to individuals and businesses and thereby stimulate the economy by providing capital to people who can't get it now from the private banks.
Are Sub-prime Mortgages Pollution? (tags)
Sub-prime mortgage lenders appear protected from homeowner and borrower plaintiffs that might allege a lender’s loan practices damaged the value of their home.
Why Bailing Out Banks Doesn't Work (tags)
The New York Times recently posed an excellent question: “Why save banks if they won’t lend?” (January 19, 2009) Before the first $350 billion “installment” of the bailout, we were told that the money was needed to “unfreeze” the credit markets, meaning that banks would again be willing to lend businesses the money they needed to continue doing business. Despite hugely popular opposition, the bailout proceeded, and absolutely nothing changed.
Liberal Prof Confronts Socialist Audience (tags)
Grossmont College economics professor Shahrokh Shahrokhi was invited to speak at the January 12 meeting of Activist San Diego, but though he attacked "market fundamentalism" and called for more government regulation of the economy,,public equity purchases iin the major financial firms and an extensive stimulus plan, many in the audience didn't think his proposals went far enough. They also bristled at his contention that homebuyers who took out mortgages beyond their means were partly responsible for the current economic crisis.
Fed Defies Transparency On Bailout Monies: Refuses to Disclose (tags)
By Mark Pittman, Bob Ivry and Alison Fitzgerald Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
What the Economic Crisis Means for Us and How to Defend Ourselves (tags)
Gloom and Doom-----The pillars of the U.S. capitalist economy are crumbling and falling all around us while the federal government frantically races from one crisis to another, throwing money at them as if throwing water on a fire. It could well turn out that the money represents only a few drops of water thrown on threatening flames that will soon billow into an out-of-control wildfire so that nothing President-elect Barak Obama has proposed will succeed in averting the disaster.
Bush and the neocons caused it all (tags)
Al jazeera tells it all
Will Bailout Minimize FBI Investigation Who Might Have Sold Fraudulent Loans/Securities? (tags)
Some lenders might have lowered their “own mortgage borrowers’ home values” by continuing to make sup-prime loans to unqualified borrowers in their community—after having “knowledge” the community had high numbers of mortgage defaults and foreclosures.
Global Economic Meltdown (tags)
Financial Instability is Leading to an Economic Catastrophe
The Crisis of Speculative Capitalism (tags)
Since the end of July 2007, the world economy was shocked by a new severe crisis of the financial markets. The courage to regulate the financial markets to prevent a future uncoupling from the productive economy is still obviously absent. The hour of truth will inevitably come.
A Generalized Meltdown of Financial Institutions (tags)
By Mike Whitney 11/24/07 "ICH" -- - Reality has finally caught up to the stock market. The American consumer is underwater, the banks are buried in dept, and the housing market is in terminal distress. The Dow is now below its 200-Day Moving Average -- the first big "sell" signal. Anything below 12,500 could trigger program-trading and crash the market. The increased volatility suggests that we are watching a "real time" meltdown.
Central Banks Reduce Their Holdings (tags)
Japan, the largest investor in US debts, has been reducing its holdings for three years.. The decline of foreign treasury holdings is not surprising because foreign dollar investors suffered massive losses through the dollar's devaluation in the last two months.
Lebanon: loans with World Bank, EU (tags)
The Lebanese government signed several loan agreements with the World Bank and the European Union on Friday to help the reform and reconstruction efforts. Prime Minister Fouad Siniora, who attended both signing ceremonies at the Grand Serail, underlined the importance of implementing reforms on time.
Subprime warning signals ignored? (tags)
Regulators passed over chances to curb abuses. "The music has stopped. The people without a chair are going under."
David Walker, comptroller general, warns of impending crisis (tags)
Learn from the fall of Rome, the US is warned. There were striking similarities between America's current situation and the factors that brought down Rome including declining moral values, an over-confident and over-extended military and fiscal irresponsibility by the central government.
Stock Market Meltdown - First Signs of Global Economic Rout
Philippines: On Mrs. Arroyo’s 7th State of the Nation Address (tags)
"Gloria's economy is not working." This is what the Freedom from Debt Coalition (FDC) said of Mrs. Arroyo's flamboyant and rosy economic claims; two days shy from the Executive's 7th State of the Nation Address (SONA) this 23rd of July.
Top 8 Reason for Iraq Invasion (tags)
It’s spring of 2007, four years deep into Iraq occupation .Here’s a mature top 8 reasons that combined to trigger and perpetuate this invasion/occupation what used to be the sovereign nation of Iraq.
Eco-activists could be framed for insurance fraud (tags)
Potential for developers and/or SUV dealerships using arson and "eco-terror" DHS hype to frame eco-activists for profitable insurance fraud..
Timor-Leste: El Dorado of the South Pacific (tags)
The current population of East Timor is approximately one million souls while the value of its natural gas and oil reserves amount to billions of dollars. However, the tiny new island nation is impoverished with above 35% unemployment and a rural based economy. Without elaborating further, Timor-Leste presents an extremely volatile situation as greedy interests, primarily America via its ‘World’ Bank and Australia-New Zealand acting as the military arm, poise themselves to exploit the impoverished people and nation of Timor-Leste.
Join us in Washington, DC! Protest Military and Economic Violence! (tags)
Global Justice Feeder March! Saturday, September 24, 2005. 11:00 am Dupont Circle, Washington D.C.
Ground Zero - (Californians Lead The Way Off The Cliff) (tags)
No Summary
Is China weeks away from 'Great Depression'? (tags)
Already in need of a $45 billion bailout, the CBRC suspended all lending for three days. The enormity of China's banking problem is dawning on everyone--the system is nearing meltdown.
Billions for Bankers--Debts for the People (tags)
In 1901 the national debt of the United States was less than $1 billion. It stayed at less than $1 billion until we got into World War I. Then it jumped to $25 billion.
House Panel Approves Bush $87B Iraq Plan (tags)
The bottomless money pit called Iraq received an additional 87 billion dollars to fight the war... No WMD's , No Hussein and no terrorist connections... Within a few years the national deficit should read more that 500 billion. HOPE YA LIKE IT..CUZ YOUR PAYING FOR IT!!
Paying Back Student Loans - Grads vs Banks vs Congress (tags)
One would think that with the horrible economy, graduates who have tried to better themselves with higher education would be able to take advantage of the low interest rates when paying back their student loans. Only it's not that easy...
Foreign aid, foreign disaster (tags)
Be it bilateral or multilateral, dispensed directly from a government or through an international lending agency, foreign aid embodies all the failures and tragedies that have come to typify our government-run domestic poverty schemes.
Chomsky interview about Haiti (tags)
On November 8th, 2002 Faiz Ahmad sat down with Noam Chomsky, MIT professor and world renowned critic of American foreign policy, to discuss the current situation in Haiti.
Re "loans" To Israel: They're Never Paid Back. (tags)
Letter re "loans" to Israel. In a "nut shell" they're never paid back.
Citigroup Protests: Philly 8/2; LA 8/17/00 (tags)
Citigroup, the largest U.S. bank, is being called to account by an emerging coalition of community, environmental, and human rights groups. Round One was in Philadelphia on August 2; Round Two is in Los Angeles, August 17, 9 a.m., Pershing Square. After that, for more information, visit, , or . As Citigroup's Salomon Smith Barney says (on PBS), "See How We Earn It." How? From redlining to redwoods, prisons to predatory lending...