WORLD & US ECONOMIC NEWS ROUND-UP, including lessons from history


Global Economic Tremors – Global Research 11/12/08

A fantastic summary of the current economic collapse, and the plans for the new economic order.

Ecuador warning on debt payments – Financial Times, UK 11/16/08

Rafael Correa, Ecuador’s leftwing president, has heightened fears that the Andean nation will default on parts of its $10bn foreign debt, saying an internal audit due this week will determine if the debt is “illegitimate”

The G-20’s Secret Debt Solution – Implode Explode 11/14/08

Dangers of a public backlash in response to IMF intervention : Pakistan criticized over $7.6 billion IMF bailout – Global Research 11/17/08

China, Costa Rica in free trade talks – Raw Story 11/16/08

China moves to stem mass layoffs – BBC 11/18/08

Chinese president on Cuban visit – BBC 11/17/08

President Hu Jintao of China arrives in Cuba for a visit aimed at strengthening economic ties between Beijing and Havana. 

The Financial Crisis and the G-20 Washington Summit  – Global Research 11/17/08

Iran converts some of its financial reserves to gold (AP)… – Haaretz, Israel 11/15/08

Brazil, Argentina drop dollar for bilateral trade – Int’l Herald Tribune 9/7/08

Britain may need 0% interest rate to avoid a depression, leading economist warns
Daily Mail, UK 10/27/08

Japan to offer $100 billion to the IMF – Implode Explode 11/13/08

“Sovereign Wealth Funds” Towards a Structural Shift in World Financial Order – Global Research 11/11/08

Coordinating Responses to the Financial Crisis  – Global Research 11/7/08

Global Crisis Transforms Capitalism  – Forbes 11/7/08

A Financial Meltdown 30 Years in the Making – Alternet 11/10/08

Four Crises of the Contemporary World Capitalist System – Monthly Review 10/08

Calls grow for a new model for global trade – CorpWatch 10/9/08

IMF may need to “print money” as crisis spreads  – Telegraph, UK 10/28/08

The International Monetary Fund may soon lack the money to bail out an ever growing list of countries crumbling across Eastern Europe, Latin America, Africa, and parts of Asia, raising concerns that it will have to tap taxpayers in Western countries for a capital infusion or resort to the nuclear option of printing its own money.

Financial Crisis Triggers Disruption in International Shipping – Global Research 11/15/08



How our economy is killing the Earth – New Scientist 10/17/08

Picture proof of radical collapse ahead.

U.S. Housing Market Boom and Crash Engineered by the Government – Richard Cook via Market Oracle, UK 10/23/08

Richard C. Cook is a former U.S. federal government analyst, whose career included service with the U.S. Civil Service Commission, the Food and Drug Administration, the Carter White House, NASA, and the U.S. Treasury Department.

Who are the Architects of Economic Collapse? – Global Research 11/9/08

Wall Street’s ‘Disaster Capitalism for Dummies’ – Global Research 11/7/08

Michael Pollan: Eating Is a Political Act – Alternet 11/8/08 

3 ‘superbanks’ now dominate industry  – MSNBC 11/6/08

Dynamic Maps of Nonprime Mortgage Conditions in the United States – Federal Reserve Bank of New York

The Great Depression of the 21st Century: Collapse of the Real Economy – Global Research 11/15/08

U.S. cities seek federal help to ease economic crisis – Reuters 11/13/08

Three major American cities buffeted by the global financial crisis are requesting at least $50 billion in federal funds to help pay for infrastructure improvements, pensions and short-term borrowing.  Philadelphia, Phoenix and Atlanta are asking U.S. Treasury Secretary Henry Paulson to release funds from the $700 billion financial bailout authorized by Congress last month.  Philadelphia Mayor Michael Nutter will hand-deliver the request to Paulson on Friday, spokesman Luke Butler said. Five or six other cities, including Chicago, may also sign on, Butler added.

States That Can’t Pay for Themselves – BusinessWeek/Yahoo 10/8/08

Soros says deep recession inevitable, depression possible – Implode Explode 11/13/08

How to End the Recession – Alternet 11/13/08

Sarkozy-US dollar no longer only currency in world – Forbes 11/13/08

The Hidden Cost of Petroleum: The National Picture  – Nat’l Priorities Project via Cryptogon 11/13/08

In 2009 alone, U.S. taxpayers will spend $103.5 billion on military resources used to secure access to petroleum, while investing only $1.26 billion in renewable energy sources. Including Iraq War-related costs doubles this figure to $215.4 billion dollars

Paulson: Foreign banks can use U.S. rescue plan (Reuters)  – Yahoo 9/21/08

A $75 trillion fright fest: Eight megahorror debts chilling America – Market Watch 9/8/08

A default by the US government is no longer unthinkable  – Telegraph, UK 9/20/08

IMF Bailout of the United States Coming?  – Market Oracle, UK 11/4/08

Foreclosures up 25 percent in October – Reuters 11/13/08

Downturn Drags More Consumers Into Bankruptcy  – NYTimes 11/15/08

Part of the Debt Trap series about the surge in consumer debt and the lenders who made it possible.

Freddie Mac worth less than zero – Times, UK 11/15/08 

College Loan Slavery: Student Debt Is Getting Way Out of Hand – Alternet 11/12/08

‘Car sleepers’ the new US homeless  – BBC 9/27/08

How To Live in Your Car – WikiHow

The Green Tax Gusher  – Forbes 11/7/08

Want to install a $60,000 solar energy system in your home? Uncle Sam will pay 30%. Really.

Cash for Conservation  – Forbes 11/7/08

Duke Energy Chief Jim Rogers has a plan to make the U.S. energy-efficient: Pay him not to deliver power.

Can Obama Stop the Bush Administration’s Final Economic Heist?  – Alternet 11/6/08

Terrible looting of public capital has a habit of taking place during periods of dramatic political transition, and Bush has one underway.

Bloomberg News sues Fed for transparency on $2 trillion in loans – Raw Story 11/10/08

Officials Refuse to Provide Details on Secret Previous Bailout – ABC 10/1/08 

Federal Reserve Refuses to Identify the Recipients of $2 Trillion Worth of Emergency Loans – Bloomberg via Cryptogon 11/10/08

Fed Stonewalling on Giving Details About Collateral Accepted for Loans  – Implode Explode 11/8/08

Worse Than the Great Depression?  – Global Research 11/17/08 



Lessons from History

History of U.S. Gov’t Bailouts – ProPublica 10/14/08

The Corrupt Origins of Central Banking – von Mises Institute 11/5/08

What If US Collapses? Soviet Collapse Lessons Every American Needs To Know  – Madconomist 6/1/08

What was it like during the Great Depression? – Metafilter 9/29/08

University of Oregon Economist Mark Thoma links to interviews by Studs Terkel which deal with the Great Depression. All interviews in Real Player format.

The Rothschilds: The First Barons of Banking – Global Research 11/8/08




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We really need to be striving toward making America energy independent.Iran just asked OPEC to reduce production by yet another 1.5 million barrels per day.This past year and the record gas prices played a huge part in our economic meltdown and seriously damaged our society.We keep planning to spend BILLIONS on bailouts and stimulus plans.Bail us out of our dependence on foreign oil. Make electric plug in car technology more affordable. It cost the equivalent of 60 cents a gallon to drive an electric plug in car. The electric could be generated from wind or solar. Get with it! Utilize free sources such as wind and solar. Stop throwing away money on things that don’t work. Invest in America and it’s energy independence. Create cheap clean energy, create millions of badly needed green collar jobs. Put America back to work. It is a win-win situation. We have to become more poractive citizens, educate ourselves and demand our elected officials move this country forward into the era of energy independence. Jeff Wilson’s new book The Manhattan Project of 2009 Energy Independence NOW outlines a plan for America to wean itself off oil. We need a plan and we need it now! http://www.themanhattanprojectof2009.com

Comment by solarwindmilly

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