The G-20 Economic Summit Won't Change the "Financial Crime Scene"
By Richard C. Cook
I worked in the U.S. Treasury Department for 21 years and learned
first-hand the history and operations of public finance in the U.S. I have seen
the disastrous results of the debt-based financial system and how it has driven
our nation, government, and people into bankruptcy. I have also seen how these
simple measures of monetary reform would be easy to implement and would begin
to turn the situation around within weeks or months.
http://www.informationclearinghouse.info/article21250.htm
===
A Pact With The Devil
By Pepe Escobar
Last month, Muqtada said, "If they tell you that the agreement ends the
presence of the occupation, let me tell you that the occupier will retain its
bases. And whoever tells you that it gives us sovereignty is a liar."
http://www.informationclearinghouse.info/article21249.htm
===
US's Road to Recovery Runs Through Beijing
By Francesco Sisci and David P Goldman
For the past decade, poor people in the developing world have financed the
consumption of rich people in America. America has borrowed nearly $1 trillion
a year, mostly from the developing world, and used these funds to import
consumer goods and buy homes at low interest rates. The result is a solvency
crisis of the American household, which shows up as a solvency crisis for
financial institutions.
http://www.informationclearinghouse.info/article21246.htm
===
The G-20 Washout
By Mike Whitney
The financial crisis is being used by Wall Street big-wigs to restructure
the economy and create a permanent class of working poor.
http://www.informationclearinghouse.info/article21252.htm
========
States want their own federal financial bailout:
Led by California with a $28 billion hole in its budget, 41 states are in
financial trouble, and many of their leaders are looking to Congress to bail
them out.
http://www.mcclatchydc.com/227/story/55932.html
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White House rejects auto bailout:
Funds from the $700bn US government bailout package for the financial
system should not be used to aid America's troubled auto industry, the White
House says.
http://english.aljazeera.net/news/americas/2008/11/20081117165411236475.html
===
State of Denial: America in Recession:
Policymakers Fear 'R-Word': Over the past 72 hours, Japan and the Eurozone
have owned up to what U.K. policymakers previously admitted: Those economies
are in recession.
http://tinyurl.com/5mx8nh
===
US banking giant cuts 50,000 jobs:
Citigroup, one of America's largest financial institutions, is to cut about
50,000 jobs as the bank struggles with heavy losses stemming from the current
financial crisis.
http://english.aljazeera.net/news/americas/2008/11/20081117151942539191.html
===
The Six Unknowns That Are Roiling the Stock Market:
The stock market's behavior is downright strange lately. Professionals with
decades of market experience scratch their heads as the market falls to its
lowest point of the year, then surges almost 7% in an afternoon-all for no
apparent reason.
http://tinyurl.com/66tdwl
===
Florida pension fund plummets:
The State Board of Administration, which manages many of Florida's public
investments, has seen its assets plummet by $62-billion, a third of their
value, in the last 13 months.
http://www.tampabay.com/news/business/article905919.ece
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