Danny Schechter bericht:'More Bad News On Wall Steet; Do We Have A Financial Kleptocracy?; Iraq Treaty Challenged
NEW INTERVIEW WITH YOUR NEWS DISSECTOR BY KATHY SANBORN
NEW INTERVIEW WITH YOUR NEWS DISSECTOR BY KATHY SANBORN
ANOTHER DAY, ANOTHER MARKET PLUNGE
Wednesday started with the descent of Asian markets and the bad news traveled West. The dow dropped and kept dropping. These were the headlines on Marketwatch. Com
Another day of fear.
Major stock indexes down 5%-6%Profit worries slam Wall St.Stocks pick up where they left off Tuesday — in decline. After quarterly results, McDonald’s and Apple seek to buck the Street’s bearish trend.Economy fears fuel hasty retreat
FT: Global stock markets plunged on Wednesday as the White House said it would invite world leaders to a global financial summit next month, 11 days after the US presidential election.
WORSE TO COME, REPORTS ROUBINI
The financial crisis, following hard on the heels of the soaring food price crisis, which threw 75 million people into hunger and poverty last year alone, may well deepen the plight of the poor in developing countries sending food prices soaring and pushing an extra 119 million people into hunger
Slowing commodity prices because of a slowing world economy could mean a cutback in planting followed by reduced harvests in major exporting countries. Given continuing low grains stocks, this scenario could lead to another turn of record food prices next year - a catastrophe for millions who by then would be left with little money and no credit.
Moe Sacerby: Rating Agencies at Center of Reformulated Global Financial Order?
President Sarkozy’s initiative would make rating agencies more as gatekeepers, bureaucratic or otherwise…The proposal would at least begin the decoupling of the rating agencies from US regulators and American style capitalism.
ALTERNET: THE ONE HUNDRED MILLION DOLLAR HOUSE OF PAINCHARGE: WE HAVE A FINANCIAL KEPTOCRACYBy Michael Hudson
Wall Street is in control, but its policies are so shortsighted that they are eroding the underlying economy - which is passing from democracy to oligarchy, and indeed it seems to a bipartisan financial kleptocracy.
CHRIS FLOYD: WHAT THE WORLD KNOWS AND THE US DOESN’T ABOUT THE BAILOUTNY BANKS MINE DATA, TARGET TROUBLED BORROWERSWhat Went Wrong in the Capitalist Casino?
By Tony Benn
What we are watching is nothing less than the steady transfer of real political power from the polling station to the market and from the ballot to the wallet - reversing the democratic gains we have made over the last century when we were able, increasingly, to use our votes to shape our economic future.
Wall Street’s ‘Disaster Capitalism for Dummies’14 reasons Main Street loses big while Wall Street sabotages democracy
By Paul B. Farrell
Yes, we’re dummies. You. Me. All 300 million of us. Clueless. We should be ashamed. We’re obsessed about the slogans and rituals of “democracy,” distracted by the campaign, polls, debates, rhetoric, half-truths and outright lies. McCain? Obama? Sorry to pop your bubble folks, but it no longer matters who’s president.'
Another day of fear.
Major stock indexes down 5%-6%Profit worries slam Wall St.Stocks pick up where they left off Tuesday — in decline. After quarterly results, McDonald’s and Apple seek to buck the Street’s bearish trend.Economy fears fuel hasty retreat
FT: Global stock markets plunged on Wednesday as the White House said it would invite world leaders to a global financial summit next month, 11 days after the US presidential election.
WORSE TO COME, REPORTS ROUBINI
The financial crisis, following hard on the heels of the soaring food price crisis, which threw 75 million people into hunger and poverty last year alone, may well deepen the plight of the poor in developing countries sending food prices soaring and pushing an extra 119 million people into hunger
Slowing commodity prices because of a slowing world economy could mean a cutback in planting followed by reduced harvests in major exporting countries. Given continuing low grains stocks, this scenario could lead to another turn of record food prices next year - a catastrophe for millions who by then would be left with little money and no credit.
Moe Sacerby: Rating Agencies at Center of Reformulated Global Financial Order?
President Sarkozy’s initiative would make rating agencies more as gatekeepers, bureaucratic or otherwise…The proposal would at least begin the decoupling of the rating agencies from US regulators and American style capitalism.
ALTERNET: THE ONE HUNDRED MILLION DOLLAR HOUSE OF PAINCHARGE: WE HAVE A FINANCIAL KEPTOCRACYBy Michael Hudson
Wall Street is in control, but its policies are so shortsighted that they are eroding the underlying economy - which is passing from democracy to oligarchy, and indeed it seems to a bipartisan financial kleptocracy.
CHRIS FLOYD: WHAT THE WORLD KNOWS AND THE US DOESN’T ABOUT THE BAILOUTNY BANKS MINE DATA, TARGET TROUBLED BORROWERSWhat Went Wrong in the Capitalist Casino?
By Tony Benn
What we are watching is nothing less than the steady transfer of real political power from the polling station to the market and from the ballot to the wallet - reversing the democratic gains we have made over the last century when we were able, increasingly, to use our votes to shape our economic future.
Wall Street’s ‘Disaster Capitalism for Dummies’14 reasons Main Street loses big while Wall Street sabotages democracy
By Paul B. Farrell
Yes, we’re dummies. You. Me. All 300 million of us. Clueless. We should be ashamed. We’re obsessed about the slogans and rituals of “democracy,” distracted by the campaign, polls, debates, rhetoric, half-truths and outright lies. McCain? Obama? Sorry to pop your bubble folks, but it no longer matters who’s president.'
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