The following news program script (except for any inserted material indicated) was prepared by Straight Facts Information Services [SFIS] and its subsidiary Straight Facts Radio [SFR], and broadcast live on the Wednesday edition of the KOOP evening news program, KOOP- FM, 91.7 MHz, Austin, Tx on the date indicated below. This material comprised a major portion of the total content of the program.> <KOOP broadcasts at 3,000 watts during mainly daytime hours on a frequency niche shared with KVRX (nighttime), student radio of the University of Texas at Austin. The listening audience is within the Austin metropolitan area, with a population of approximately 1 million.> <Unless otherwise indicated, all material is (c) 2000 by SFIS. Reproduction for nonprofit, noncommercial purposes is authorized if fully attributed to SFIS. Selected material from past programs is published in Straight Facts (political newsletter). For a sample copy, send name and mailing address to: Straight Facts, PO Box 150116, Austin, Tx 78715-0116; or E-mail: [EMAIL PROTECTED] > < READ LIVE: Disclaimer > The viewpoints expressed on the KOOP evening news program do not necessarily reflect the views of Texas Educational Broadcasting Co- op, Incorporated, KOOP Community Radio, its Board of Directors, management, staff, or volunteers. Unless otherwise attributed, viewpoints expressed solely represent the editorial viewpoint of the program producers and other participants in the program. The KOOP evening news program is a presentation of the News and Public Affairs Collective of KOOP Radio, in cooperation with the Grassroots Media Network. <CD: Start OPENING SIG MUSIC under voice > Major portions of the following news program have been produced by Straight Facts Information Services as a service to KOOP Radio. <Bring up OPENING SIG MUSIC > <News Intro (live)> <Fade out music > Good evening, and welcome to this special edition of the KOOP evening news program, produced by Straight Facts Radio, for September 20th, 2000. I'm Mark Wright. <<CHINA: TRADE BILL AND IMPERIALIST THREAT>> Our top story today: Yesterday's action by the United States Senate to open up trade with China and implement last November's trade deal between Washington and Beijing. \ERIC SCHMITT NYT September 20, 2000\ The measure, passed 83 to 15, represents a major advance for American imperialism's efforts to penetrate the economy of the badly deformed Chinese workingclass state, and further intensifies the threat to the remaining achievements of the 1949 Chinese revolution, whch overthrew capitalism. Last November's US-China agreement, plus yesterday's vote, pave the way for China to enter the World Trade Organization, the imperialist-dominated trade group which attempts to police global trade relations to the benefit of the major imperialist powers, especially the United States. As Straight Facts Radio has noted in previous reports, China's entry into the World Trade Organization, or WTO, would represent another huge step toward the dismantling of what's left of the socialized economic system and the basis of the workingclass state - even in its highly disfigured, mutilated, and bureaucratically distorted form. Under the terms of the agreement, China's ruling bureaucacy will be under the imperialist gun to accelerate their so-called "reforms" of dismantling state control of the economy, including privatizing factories, laying off workers, scrapping public benefit programs, and opening up opportunities for capitalist profitmaking. In American imperialism's game of carrot-and-stick, aimed at the imperialist reconquest of China, the Clinton administration and other elements within US capitalism's ruling circles have been manipulating trade-protectionism and "Buy American" bigotry as a weapon for pressuring concessions from capitalist allies as well as from China. <<EUROPE CRISIS>> <<OIL CRISIS>> Next, turning to Europe ... Mass protests against high fuel prices have continued to gain momentum. Yesterday, angry truckers and farmers in Sweden and Spain blocked transit to harbors, rail terminals, and fuel depots to protest the high prices of motor fuel. \AP-NY-09-19-00\ Spanish fishermen called off a protest that had blocked the entrance to the port of Barcelona for a day. In Spain, protests intensified with demonstrations in 34 provinces of the country. \AP-NY-09-19-00\ Today, thousands of fishermen and farmers throughout Spain shut down seaports, surrounded wholesale fish markets, and blockaded fuel distribution centers in a growing protest against rising fuel costs. \AP-NY-09-20-00\ Almost 200 farmers on tractors and in trucks shut off fuel delivery to parts of southern and eastern Spain when they surrounded three fuel distribution centers. \AP-NY-09-20-00\ <<ECONOMIC NEWS: EURO DECLINE>> Meanwhile in Europe, more bad news for the beleaguered euro - the new multi-national currency that's supposed to replace individual currencies like the Germany mark, the French franc, and the Italian lira. The euro has been almost continually losing its value, threatening a currency crisis and jeopardizing the planned unification of Europe. The euro has continued its relentless decline this week as the impact of the currency's weakness rippled across the Atlantic into America's corporate landscape, cutting into the sales and profits of US companies. \JONATHAN FUERBRINGER NYT September 19, 2000\ In trading yesterday the euro fell to a new low of just over 85 cents and finished the day in New York at just under 85 and a half cents. \JONATHAN FUERBRINGER NYT September 19, 2000\ Razor-maker Gillette, for example, said that the drop in the value of several currencies, particularly the euro, would reduce the dollar value of the company's sales by 6 percent in the third quarter, compared with a year ago. The news sent its stock plunging 7.3 percent. \JONATHAN FUERBRINGER NYT September 19, 2000\ Shares of DuPont, McDonald's, Colgate-Palmolive and other companies conducting a major part of their business in Europe have also experienced declines after company management admitted they'd be hurt by the weak euro. \JONATHAN FUERBRINGER NYT September 19, 2000\ The global oil market crisis - also reported by Straight Facts Radio - is also impacting global capitalism and the profit status of individual companies. Yesterday's 'New York Times' summarized the situation: (quote) "Adding to the sales and profit problems of these multinational companies is the rising cost of oil and gasoline. It is sapping European spending power and, at the same time, raising corporate costs, a fact that has particularly hurt DuPont." \JONATHAN FUERBRINGER NYT September 19, 2000\ As the 'Times' points out, "The decline in the value of the euro, or any other currency against the dollar, cuts into performance when sales and profits from abroad are translated into dollars. Hedging in currency markets can limit these impacts but can be expensive." \JONATHAN FUERBRINGER NYT September 19, 2000\ "What is making the decline of the euro extra painful for American companies" relates the 'Times, "is that this was supposed to be the year the currency of 11 nations bottomed out and then began to rally, after falling 13.7 percent in its debut year of 1999." \JONATHAN FUERBRINGER NYT September 19, 2000\ In other words, what's been happening is that the euro has continued to unravel, threatening the entire plan for a unified European market to face off against the USA and Japan. <<ECONOMIC NEWS: BRITISH POUND>> And it's not just the fall in the euro that's hurting companies with business in Europe. There's been a sharp decline in the British pound which is also cutting into sales and profits. Since the end of the second quarter in June, the euro is off 10.3 percent against the dollar while the British pound is down 7.1 percent. The average value of the euro so far this quarter, compared with the third quarter of 1999, is down 13.1 percent, which is the important comparison for year-to- year quarterly sales and profits. The average value of the British pound is down 7.4 percent so far this quarter compared with a year ago. \JONATHAN FUERBRINGER NYT September 19, 2000\ Those developments, together with the impact of skyrocketing oil prices, may hold some big shock waves for global capitalism in the near future. <<ECONOMIC NEWS: TRADE DEFICIT>> And, in the USA, the trade deficit continues to soar - the sign of a very sour market for exports from US capitalism. The trade deficit surged to $31.89 billion in July, an increase from the revised $29.85 billion in June, the US Commerce Department reported today. \TIM ARANGO NYT September 20, 2000\ Previously, the government estimated June's trade gap at $30.62 billion. \TIM ARANGO NYT September 20, 2000\ The rise in imports in July reflected increases in the value of crude oil and natural gas as well as automobiles and parts. The decline in exports was in part a result of a decrease in sales of automotive parts and industrial supplies overseas - not a good sign for American industry. <<ECONOMIC NEWS: INCOME GAP>> And, while US capitalism has been apparently booming, creating more multi-millionaires, the times have not been so great for the mass of American working people. (quote) "Despite all the talk about prosperity in this digital age, tax return data indicates that the rising tide of bits and bytes is lifting the yachts much more than the rowboats" reported an in-depth article in Sunday's 'New York Times'.. \DAVID CAY JOHNSTON NYT September 17, 2000\ According to the 'Times' report, "From 1986 through 1997, the latest year for which detailed figures are available from the Internal Revenue Service, the average income of the richest 1 percent of Americans soared 89 percent, to $517,713 from $273,562." \DAVID CAY JOHNSTON NYT September 17, 2000\ But, says the 'Times', "During those same 12 years, the bottom 90 percent of Americans, meaning everyone who took home less than $80,000 after paying federal income taxes, did not fare nearly as well." \DAVID CAY JOHNSTON NYT September 17, 2000\ "In 1997, the average income for the bottom 90 percent was $23,815, up a scant $364, or 1.6 percent, from 1986. This average also fluctuated during the 12 years, but the changes, up or down, were less than 2 percent in 11 of those years. The fluctuations were so tiny that in the chart accompanying this article they disappear, and the line appears flat" reports the 'Times'. \DAVID CAY JOHNSTON NYT September 17, 2000\ In other words, most Americans have benefited little to not at all from the marvellous boom times that have been driving up the costs of housing and other essentials. <LIVE: PSA - Public Forum "Whose Streets"> <PLEDGE DRIVE BREAK> <TAPT News: Remainder of program produced by TAPT> <FADE IN CD: CLOSING SIG MUSIC> <LIVE CLOSE> And that brings us to the end of tonight's edition of the "KOOP Evening News" program. Be sure to tune in again tomorrow evening at 5:30 for another edition of the "KOOP Evening News". The next edition of the "KOOP Evening News" produced by Straight Facts Radio will be broadcast on October 4th. And stay tuned for "Left-In-Sight", coming next, right here on KOOP Austin, 91.7 MHz. <FADE OUT: Closing sig MUSIC> _______________________________________________ Marxism-Thaxis mailing list [EMAIL PROTECTED] To change your options or unsubscribe go to: http://lists.wwpublish.com/mailman/listinfo/marxism-thaxis
