… “I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world,...
Coalition of Resistance– The people of Greece face an unprecedented economic and political crisis. They are being driven to poverty and mass unemployment by the demands of the so-called Troika – the European Union, the European Central Bank (ECB) and the International Monetary Fund, which has imposed Lucas Papademos, former vice-president of the ECB,...
… The Houses of Morgan, Goldman and the other Big Five are justifiably worried right now, because an “event of default” declared on European sovereign debt could jeopardize their $32 trillion derivatives scheme. According to Rudy Avizius in an article on The Market Oracle (UK) on February 15th, that explains what happened at MF...
… Marx communism was not to be the goal for ethical reasons; rather, Marx viewed the transition from capitalism to socialism as being justified on historical grounds — with full communism being the end of humanity’s historical progression leading into history proper. … For Marx, the crux of capitalism’s doom is a concept known...
“Violence and destruction in Greece that you saw on Sunday is being caused directly because people have had their democratic rights taken from them. What else can they do? If I was a Greek citizen I would have been out there joining those protests. I would be out there trying to bring down this...
For the last few decades, the economic and political contradiction has been managed, if not resolved (not that it could ever be) through the liberal use of debt—credit cards at first, and then mortgages from the mid-1990s onward. The explosion in household credit —from 65% of disposable income in 1983 to 135% at the...
Yesterday, Occupy Oakland moved to convert a vacant building into a community center to provide education, medical, and housing services for the 99%. Police responded with tear gas, rubber bullets, beanbag rounds and mass arrests. The state has compounded its policy of callous indifference with a ruthless display of violent repression. The Occupy movement...
As Greece inches toward default and the sufficiency of Europe's EFSF bailout fund is called into question, everyone's worst nightmares of Europe's debt debacle escalating to a systemic crisis could be nearing reality. But that's not all. North Korea is in transition, Iran is threatening to disrupt oil supplies, and the U.S. and Russia...
Children are being abandoned on Greece’s streets by their poverty-stricken families who cannot afford to look after them any more. Youngsters are being dumped by their parents who are struggling to make ends meet in what is fast becoming the most tragic human consequence of the Euro crisis. It comes as pharmacists revealed the...
Nomura’s famously bearish Bob Janjuah is out with his first note of the year (via FT Alphaville), and he’s… bearish. “The worst of the eurozone mess is still haead of us,” he says, and the US is not out of the woods. He has some very specific predictions…. Read more: http://www.businessinsider.com/bob-janjuah-the-rally-just-has-a-few-days-left-and-the-worst-in-europe-is-yet-to-come-2012-1#ixzz1j4j2xirL
Monthly Review
Science and Society
Arguments For Socialism
Albert Einstein: Why Socialism?