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Entries in World Economics (212)

Thursday
Feb172011

A New Sense of Populist Empowerment Grips the Middle East

Across the Middle East, protesters clashed with pro-government mobs and security forces Wednesday and Thursday, the latest sign that the tools of repression that leaders in the region have relied on for years are now, instead, propelling more people to the streets.

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Wednesday
Feb162011

Russ Feingold Launches 'Progressives United' To Combat Corporate Influences In Politics

When some senators retire, they decide to take lucrative lobbying jobs. Others go straight to Wall Street. But Wisconsin Democrat Russ Feingold, who lost his re-election bid in November, is continuing on his principled -- and often lonely -- path by starting an organization to combat corporate influence in politics, an effort he hopes will spark "a new progressive movement" that will truly hold elected officials accountable.

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Tuesday
Feb152011

Mourning Iraqi Wives, Children on Valentine’s Day

Twenty years ago, as Americans were celebrating Valentine’s Day, Iraqi husbands and fathers in the Amiriyah section of Baghdad were peeling the remains of their wives and children off the walls and floor of a large neighborhood bomb shelter.

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Tuesday
Feb152011

The IMF Protection Racket

There seems to be strong consensus - at least outside of the US and Britain - that the IMF (International Monetary Fund) is a protection racket. Here is the Wikipedia definition of protection racket: An extortion scheme whereby a criminal group or individual coerces other less powerful entities to pay money, allegedly for protection services against external threats (usually violence or property damage). Many racketeers will coerce potential clients into buying protection through property damage or other harassment. In some cases, the racketeers do little to protect the client from other predators, and their "protection" is little more than extortion.

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Tuesday
Feb152011

China creates rare earth strategic reserves

China is building up strategic reserves of rare earth metals in a move that could give it better control over the resource so indispensable to high tech products, the Wall Street Journal reported.

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Monday
Feb142011

The Worst Thing Ever Invented

In this age of supposedly fighting against rulers and on behalf of oppressed peoples, the Vietnam War offers an interesting case in which the U.S. policy was to avoid overthrowing the enemy government but to work hard to kill its people. To overthrow the government in Hanoi, it was feared, would draw China or Russia into the war, something the United States hoped to avoid. But destroying the nation ruled by Hanoi was expected to cause it to submit to U.S. rule.

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Monday
Feb142011

World Social Forum: Declaration of the Social Movements Assembly 

As the Social Movements Assembly of the World Social Forum of Dakar, 2011, we are gathered here to affirm the fundamental contribution of Africa and its peoples in the construction of human civilisation. Together, the peoples of all the continents are struggling mightily to oppose the domination of capital, hidden behind illusory promises of economic progress and political stability. Complete decolonization for oppressed peoples remains for us, the social movements of the world, a challenge of the greatest importance.

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Monday
Feb142011

Egypt: “The Revolution Came and The Revolution Went"; Can the Egyptian People Push for Deeper Change ? 

It is now the long morning after, as protesters returned to Tahrir Square to clean it up and savor their victory. There were even some initial scuffles with the military that may be over anxious to assert control and show that it is in charge.

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Monday
Feb142011

How Hosni Mubarak Became One of the Richest Men in the World on Our Dime

With Hosni Mubarak gone, let’s do a little Egyptian math on the Mubarak years. According to experts, the fortune amassed by Egypt’s former president and his two sons (both billionaires) could reach $70 billion. That includes funds in secret offshore bank accounts and investments in residences and real-estate properties reaching from Rodeo Drive in Beverley Hills to Wilton Place in central London and Egypt’s Sharm el-Sheik tourist resort. Since Mubarak has been president for 30 years, he’s put that little fortune together at a record clip -- something like $2 billion or more a year. He and his family are now worth approximately four times the gross domestic product (GDP) of Paraguay, five times the GDP of embattled Afghanistan, and more than ten times the GDP of Laos. He may be the richest man and they the richest family on Earth. All this happened, by the way, in the years when millions of Egyptians -- at least one in every 10 -- lost their farms, while more than 40% of Egyptians live on less than $2 a day.

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Monday
Feb142011

Egypt: Preview of America in 2015

The rioting and looting currently taking place in Egypt is primarily a result of massive food inflation and shows what all major cities in the United States will likely look like come year 2015 due to the Federal Reserve's zero percent interest rates and quantitative easing to infinity. On December 16th, 2009, NIA named Time Magazine's 2009 'Person of the Year' Ben Bernanke our 'Villain of the Year', saying he created "unprecedented amounts of inflation in unprecedented ways" and "When it costs $20 for a gallon of milk in a few years, Americans will have nobody to thank more than Bernanke."

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