Bloomberg News Monday, January 19, 2009
MADRID: Spain’s AAA sovereign credit rating was downgraded Monday by Standard & Poor’s, the agency, as the country’s first recession in 15 years swelled the budget deficit.
The rating was lowered one step to AA+, S&P said in a statement from London, assigning the grade a "stable" outlook.
It was S&P’s first reduction in Spain’s rating.
"Current economic and financial market conditions have highlighted structural weaknesses in the (...)
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Looming Public Debt Crisis: S&P strips Spain of its AAA credit rating
20 January 2009 par (Open-Publishing)
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Message in a Bottle
19 January 2009 par (Open-Publishing)
By David Glenn Cox
I’m too angry to sleep, too weary to hope. I’m too old for optimism and too young to stop fighting. I’d hit someone if only I knew who; I’d march if only I knew where to go. I support the new President and think that he will bring a new vitality to the nation, but my age and anger tells me that vitality is a show business term. That trickle down never reaches us, and political spin is just so much wind passed into our faces.
I have seen tax cuts for the rich passed (...) -
Systemic Economic Crisis: The Sequence of Global Insolvency Begins
17 January 2009 par (Open-Publishing)
Systemic Economic Crisis: The Sequence of Global Insolvency Begins
by GEAB
Global Research, January 17, 2009 GEAB N°31
In 2007, LEAP/E2020 announced that US banks and consumers were both insolvent. More than a year ago, our team estimated that USD 10,000-billion worth in « ghost-assets » would vanish in the crisis. Both announcements came in complete opposition with the common opinion of that time; however they proved perfectly justified in the months after. In the same line, (...) -
Video: THE GLOBAL FINANCIAL CRISIS: The Great Depression of the 21st Century with Michel Chossudovsky
17 January 2009 par (Open-Publishing)
Video: THE GLOBAL FINANCIAL CRISIS: The Great Depression of the 21st Century with Michel Chossudovsky
http://www.globalresearch.ressourcequebec.com/Lecture/January_14-2009.htm -
FINANCE-US: AIG’s Past Could Return To Haunt
14 January 2009 par (Open-Publishing)
With nearly 80 percent of AIG stock the U.S. is in a unique position to investigate the internal operations of a giant corporation with a reputation for using the offshore system for tax evasion.
By Lucy Komisar*
NEW YORK, Dec 19 (IPS) - The U.S. will invest 40 billion dollars in American International Group (AIG), and will provide credit lines that could bring federal funding up to 144 billion dollars. It’s the largest subsidy that a U.S. corporation has ever received.
In exchange, (...) -
Immanuel Wallerstein: Capitalism’s Demise?
11 January 2009 par (Open-Publishing)
Capitalism’s Demise? Immanuel Wallerstein interviewed by Jae-Jung Suh
The financial crisis sweeping the world has led many to reconsider the neoliberal premises of the U.S. government. Jae-Jung Suh sits down with sociologist and world systems theorist Immanuel Wallerstein to consider the paradigm shift in global thinking on economic policy and the future of capitalism.
Crisis? What Crisis?
Suh: These days, everybody is talking about a crisis. But everyone has a different definition (...) -
Congressman Kucinich on Floor of Congress - Slams Fed Reserve and Fractional Reserve! (VID)
10 January 2009 par (Open-Publishing)
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Peter Schiff (former Ron Paul financial advisor) predicts Dollar Crash. American Economic Crash
8 January 2009 par (Open-Publishing)
Peter Schiff (former Ron Paul financial advisor) predicts Dollar Crash. American Economic Crash. Fear and loathing in the American Empire.
http://de.youtube.com/watch?v=djgH9wA-JSU&eurl= -
Martial Law, the Financial Bailout and War
8 January 2009 par (Open-Publishing)
Paulson’s Financial Bailout
It is becoming clear that the bailout measures of late 2008 may have consequences at least as grave for an open society as the response to 9/11 in 2001. Many members of Congress felt coerced into voting against their inclinations, and the normal procedures for orderly consideration of a bill were dispensed with.
The excuse for bypassing normal legislative procedures was the existence of an emergency. But one of the most reprehensible features of the (...) -
The Oil Card: Global Economic Warfare in the 21st Century
7 January 2009 par (Open-Publishing)
The Oil Card: Global Economic Warfare in the 21st Century
By James R. Norman
Challenging the conventional wisdom behind oil pricing, this compact book sheds an entirely new light on the workings of "free" commodity markets and oil industry supply and demand "fundamentals." Its purpose is to look at the use of oil as an economic weapon.
The book assembles a now well-documented chronology of how the US and its allies, including Saudi Arabia, pushed down oil prices dramatically in the (...)