‘The Only Winning Move Is Not to Play‘—The Insanity of the Regulatory Race to the Bottom by William K. Black The plot of the movie WarGames (1983) involves a slacker hacker (played by Matthew Broderick) who starts playing the game “Global Thermonuclear War” with Joshua, a Department of Defense (DoD) supercomputer that [...]
News From George Soros‘ Berlin Conference – Economists Discover Human Beings Could economists be leaving behind their mechanistic paradise for the messy, unpredictable human world? April 18, 2012 | Photo Credit: shutterstock LIKE THIS ARTICLE ? Join our mailing list: Sign up to stay up to date on the latest headlines via email. Economists are [...]
The Dismal Economic Outlook For The New Year By Paul Craig Roberts January 06, 2012 “Information Clearing House” - Jobs offshoring, financial deregulation, and ten years of wars have severely damaged the US economy and the economic prospects of 90% of the American population. The signs are everywhere in front of our eyes. [...]
Why India is riskier than China China and to a lesser extent India are positioned to meet challenges resulting from the downturn in the world economy.
Chinese policy makers have more room for manoeuvering than their Indian counterparts [Getty Images] New Haven, Connecticut - Today, fears are growing that China and India are about to be the next victims of the ongoing global economic carnage. This would have enormous consequences. Asia‘s developing and newly industrialised economies grew at an 8.5 per [...]
Vampire Squid Watch: 4 Scary Economic Trends for 2012 Top economic thinkers explain why 2012 will be a year of continued – and escalating – predation by financiers.
Delmar catches a medium-sized Humboldt Squid, also known as the Red Devil or Diablo Rojo. Photo Credit: EMMANUEL RUIZ From Alternet site http://www.alternet.org/ LIKE THIS ARTICLE ? Join our mailing list: Sign up to stay up to date on the latest headlines via email. Vampire Squid Watch: 4 Scary Economic Trends for 2012 [...]
Apparently he missed the beat of the voodoo rhythm economics but there really is no difference between the fixes the money comes from the people or its just created.
For those of you who believe or would like to believe that capitalism is really amenable to fixes by putting more money into the system this is an article of interest. However, when you are dealing with an economy totally geared to stealing the money of the people from the general fund as well as [...]
Freakonomics: What Went Wrong? Examination of a very popular popular-statistics series reveals avoidable errors Andrew Gelman, Kaiser Fung The nonfiction publishing phenomenon known as Freakonomics has passed its sixth anniversary. The original book, which used ideas from statistics and economics to explore real-world problems, was an instant bestseller. By 2011, it had [...]
Any fossil fuel infrastructure built in the next five years will cause irreversible climate change, according to the IEA
Any fossil fuel infrastructure built in the next five years will cause irreversible climate change, according to the IEA. Photograph: Rex Features World headed for irreversible climate change in five years, IEA warns If fossil fuel infrastructure is not rapidly changed, the world will ‘lose for ever’ the chance to avoid dangerous climate change [...]
India has a gender ratio at birth of about 110 boys for every 100 girls with large regional variations [AFP] According to the United Nations’ Population Division, the world’s human population hits seven billion on October 31. As always happens whenever we approach such a milestone, this one has produced a spike in conferences, seminars, [...]
AP / Thomas Watkins Residents hang out at the basketball court at Algin Sutton Recreation Center in South Los Angeles. The center is included in the city’s Summer Night Lights program aimed at reducing gang violence. By Bill Boyarsky While Occupy Wall Street and similar movements around the country take aim at financial institutions and their [...]
Rethinking GNP: From welfare to cost Gross National Product is a blunt tool that largely fails to take into account environmental and human well-being.
Gross National Product was developed in the 1930s and 1940s as a measure of economic actvity [GALLO/GETTY] Aside from the nation of Bhutan, which strives to maximise Gross National Happiness, virtually all countries in the world single-mindedly pursue endless increases in Gross National Product (GNP), which measures the market value of final goods and services [...]
Clashes in Greece as strikes begin – European debt crisis live People demonstrate in front of the Greek parliament in Athens Photograph: Angelos Tzortzinis/AFP/Getty Images • Shop windows smashed in protests in Athens and Thessalonikias 48-hour strike begins • Shares rise as euro deal nears • Bank of England MPC unanimous on QE • Lunchtime round-up • Today’s agenda [...]
Targeted killing and the ‘War on Terror’ The CIA’s extrajudicial killing of Anwar al-Awlaki raise troubling legal questions.
A secret US memo authorised the killing of radical cleric Anwar al-Awlaki for his alleged role in an al-Qaeda affiliate [EPA] The United States’ recent killing of Anwar al-Awlaki in Yemen has prompted renewed debate over the CIA’s predator drone programme. That the US government asserts the right to eliminate a terrorism suspect far from [...]
Dispatch From Activist Arrested for “Assaulting” Leon Panetta During Supposedly Public Hearing LIKE THIS ARTICLE ? Join our mailing list: Sign up to stay up to date on the latest Civil Liberties headlines via email. A CODEPINK activist shares the story of how she and seven others were arrested last week while trying to bring [...]
Obama vs. Jobs; Hope vs. Reality By David Swanson http://warisacrime.org/content/obama-vs-jobs-hope-vs-reality Last week, President Obama racked up several more broken campaign promises as he pushed through Congress three new job-killing corporate trade agreements. The Senate Finance Committee was quite open about the fact that these agreements will kill off more jobs and eager to mitigate the [...]
Italian PM braces for confidence vote Vote is expected amid anti-government demonstrations and rifts among government officials.
Italians took to the streets on Wednesday to protest against austerity measures [Reuters] The Italian prime minister is bracing for a confidence vote in parliament this week that will determine his political future amid rifts within the government and rallies against its handling of the financial crisis. Silvio Berlusconi will address the parliament on Thursday and is likely to defend [...]
Saving the Rich, Losing the Economy by PAUL CRAIG ROBERTS. But capitalism was designed to enrich unjustly and immorally so what is really worth saving? (Ikners)
Saving the Rich, Losing the Economy by PAUL CRAIG ROBERTS Economic policy in the United States and Europe has failed, and people are suffering. Economic policy failed for three reasons: (1) policymakers focused on enabling offshoring corporations to move middle class jobs, and the consumer demand, tax base, GDP, and careers associated with the jobs, [...]
When G20 finance ministers meet in Paris next weekend, the stakes will be enormous for both Europe and the world
Euro crisis spreads and puts the world economy at risk When G20 finance ministers meet in Paris next weekend, the stakes will be enormous for both Europe and the world Face to face: German chancellor Angela Merkel and Greek prime minister George Papandreou at a press conference during their talks over Greek debt last month. [...]
Disasters Merging By Nomi Prins “Tropic of Chaos: Climate Change and the New Geography of Violence” A book by Christian Parenti “Tropic of Chaos,” Christian Parenti’s epic new book, revolves around what the author refers to as catastrophic convergence, the “collision of political, economic and environmental disasters.” Catastrophic convergence is a culmination of the compounding and [...]
Should we wait for the oil to run out? Food to run out? For collapse? Or can we plan our way back down, through power-down, simplification, localization? You have heard the big banks, in Europe, America and Japan are actually bankrupt. They still value their real estate collateral at the high points before the crash. [...]
The ‘other’ Arctic sea ice melt Clear skies allowed a largely unobstructed view of the Arctic in early July 2011. Photograph: MODIS/Terra/NASA Reports focus on the possibility a record minimum for Arctic sea ice in September, but a major loss during the early summer months is climatologically more important “Well, it’s not really good [...]
Voodoo Rhythm Economics, but the economy is a machine, not a body. An interesting view from an economist.
Viewing the economy as a living body implies that it is self-regulating, and thus should be left alone [GALLO/GETTY] The sustained financial crisis that the US government now finds itself in was entirely avoidable, according to a paperby Berkeley economist Brad DeLong last year, “Battered but Not and Beaten”. The situation in late 2008 was dire, [...]
Biden, pictured with his granddaughter, urged China to buy more American-made goods and services [AFP] The United States will never default on its debts, Joe Biden, the vice-president, said on the final day of an official visit to China dominated by concerns over Chinese exposure to the ailing US economy. Speaking to students on Sunday [...]
Bank of America slides further. But it all depends on what the casino/racetrack stock market does about it.
BoA’s shares tumbled a further 6.4% on Tuesday to their lowest level since March 2009 Photograph: Shannon Stapleton/REUTERS Bank of America continued its tailspin on Tuesday as shares in the largest US bank tumbled by another 6.4% to their lowest level since March 2009, fuelling fears of a second banking crisis. As concerns mounted [...]
Bolivia‘s first crop insurance scheme promises to empower farmers Farmers finally have a much-needed alternative to loans as they seek to safeguard against the ruinous effects of natural disaster Bolivian women pick up potatoes in El Alto. A new crop insurance scheme offers farmers protection against natural disaster. Photograph: Ali Burafi/AFP/Getty Images Natural disasters can [...]
France’s president Nicolas Sarkozy, right, and German chancellor Angela Merkel meet to discuss the debt crisis. Photograph: Philippe Wojazer/AFP/Getty Images Watching the still-unfolding eurozone crisis is like watching Europe sleepwalk into an entirely preventable disaster. The latest figures have shown that even the German economy is now experiencing almost zero growth, following other countries, such as [...]
You can watch the video interview at:http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=7131 Bart Chilton: Wall Street lobbyists trying to slow down trading regulations and defund Commission. Notwithstanding the simplicity of what is and was a fraud being perpetrated against the people once again we get a lot of talk about how complicated or complex the situation is. But there is a [...]
In Australia at the moment there is an advertisement being run by those against a Carbon Tax. Now whether you think the tax is a good thing or a bad thing just listen closely to the reasons this business person gives for opposing this ‘pernicious tax’ if that is the impression intended. Apparently not only [...]
People who were abroad over the last 10 days will return to a different country from the one they left. England has been changed, perhaps permanently, by what has happened. The confidence we had in the basic success of our society was shattered, together with the idea that we could always muddle through, getting more [...]
A protest in Yasuní national park, Ecuador in 2007. The slogan translates as ‘let Yasuní live’. Photograph: Lou Dematteis/Spectral Q/Redux/Eyevine Where the foothills of the Andes meet the vast Amazonian rainforest in eastern Ecuador there is a small town called Shell. It’s a pockmarked, termite-eaten, one-street place which doubles as a missionary centre and a regional [...]
US postal service trucks. Postmaster general Patrick Donahoe is proposing to cut mail delivery from six days a week to five. Photograph Scott Olson/Getty Images The US Postal Service has announced radical plans to cut one in five jobs, reduce services and water down staff retirement and healthcare deals as the government agency struggles to keep [...]
French president Nicolas Sarkozy must convince financial markets that he can meet his fiscal targets. Photograph: Eric Feferberg/AFP/Getty Images The French economy failed to grow in the last quarter as households across the country cut their spending, in the latest sign that the European economy is stumbling. Data released by Eurostat, the region’s statistics body, [...]
European markets stabilised after the ECB began buying Italian and Spanish debt on Monday [AFP] The stock market ‘woes’ are symptomatic of the immorality of allowing people to deal in a created commodity like a company or corporation while they make no contribution to the company. The company or corporation only exists [...]
A cyclist rides past the European Central Bank headquarters in Frankfurt. The ECB is to buy government bonds from Italy and Spain. Photograph: Ralph Orlowski/Reuters The European Central Bank has moved to halt Europe’s runaway debt crisis by pledging to buy government bonds from Italy and Spain. The move to prop up Europe’s struggling nations [...]
Markets are anxiously looking for ECB to start buying Italian and Spanish debt to stabilise prices [AFP] The European Central Bank (ECB) has decided to intervene decisively on markets to respond to the escalating debt crisis, a eurozone monetary source said after a conference call between ECB and G7 finance ministers. Officials on the conference call [...]
A trader on the floor of the New York Stock Exchange. There is mounting fear on Wall Street that the US is at risk of sliding into long-term economic trouble. Photograph: Jin Lee/AP 9.43pm: We’re still waiting for the full ECB statement but it looks like a bond-buying spree is on the way. “The Euro [...]
The plane Raquel Gutiérrez was travelling in was turned out of US airspace last week. Photograph: Itani Images/Alamy On Wednesday 20 July 2011 at 10.35pm, I boarded Aeroméxico flight 033 in Mexico City to go to Barcelona. I was to connect from there to another Alitalia flight to Italy, where I was meeting friends to [...]
Mike Davis, The Coming Economic Disaster Posted by Mike Davis at 8:15am, July 26, 2011. [Note for TomDispatch Readers: A heartfelt thanks to all of you who, in these dog days of summer, contributed $100 or more for a personalized, signed copy of Christian Parenti’s cutting-edge new book, Tropic of Chaos: Climate Change and the New Geography [...]
This page has been saying for quite some time that voodoo rhythm economics is realy about making those lower in the enforced hierarchy as per the inoculated delusion pay for the lifestyle of the rich and the elite. The contribution to the general fund by the rich is inordinately small and often non-existent, as these [...]