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The crisis of the global economy News & Analysis
Submitted by unterschreber on Wednesday, 13 August, 2008 - 00:56
Vasily Koltashov (Institute of Globalization and Social Movements, Moscow)

An endless series of Experts have recycled their opinions in Credit Crisis Anniversary-Festschriften over the last few weeks, but this one from the Moscow Institute of Globalization and Social Movements (www.igso.ru) actually has a historical perspective stretching beyond the calendar year. Good account of consumer credit gigantism as short-term supplement to 30 years of falling real wages in the 'old' industrial world, and of high commodity prices as effect rather than cause of inflation (i.e. more money 'created' than commodities produced).


Backstage at a Bank Funeral: Feds Swoop In on an Unsuspecting Town OpenPublishing | News & Analysis
Submitted by ewelke on Wednesday, 16 July, 2008 - 15:43
Damian Paletta


In a time of credit crisis, small to medium bank branches are failing, forcing the Federal Deposit Insurance Corporation (FDIC) to go in and clean up the mess. Coming in stealthily to avoid public panic and sudden withdrawal of all a bank’s funds, which would result in a sinking of the bank and possibly others in the area, the FDIC makes a quick job of taking over the bank.


Day of the dollar: a global connection OpenPublishing | News & Analysis
Submitted by unterschreber on Tuesday, 24 June, 2008 - 17:59
Jon Amsden / Jeffrey Fleishman / LA Times staff writers

Thanks to Meltdown III stalwart Jon Amsden for finding and introducing this impressionistic but telling survey of what a dollar free-falling towards worthlessness ('Monopoly money', anyone?) means in terms of everyday survival in some parts of the world.

 

For those who may wish to take a break from the lofty abstractions of financial skullduggery and dollar decline, here's how it looks on the fishmarket floor and in other places where the dollar was once the basic currency of international trade but is now losing its former luster.


Power cut hell OpenPublishing | News & Analysis
Submitted by unterschreber on Monday, 5 May, 2008 - 23:21
Hackney Gazette editorial

Apparently it's not considered newsworthy beyond the local press, but a whole block of the Morningside Estate in Hackney Wick/Homerton, i.e.


A world food crisis: empty bowls and fat rats OpenPublishing | News & Analysis
Submitted by Ret Marut on Friday, 18 April, 2008 - 21:28
Ret Marut

Further detailed coverage from Libcom (http://libcom.org) of the  class struggle that continues to rage in Bangladesh, focusing here on how the global 'food crisis' works concretely in this case. The effect of farming techniques imposed during Asia's 'Green Revolution' is addressed, although this needs to be put related to the world trade 'diplomacy' which since WW2 has made 'developing' countries dependent on food imports (see M.


Hanging in the balance (PFI & PwC) OpenPublishing | News & Analysis
Submitted by unterschreber on Tuesday, 15 April, 2008 - 17:56
Private Eye

From Private Eye, the otherwise barely-reported story of the recent Treasury paper underlying the UK government's renewed commitment to more! bigger! better! PFI, which draws on the 'analysis' of PFI fee-farmers PricewaterhouseCoopers, KPMG etc.

    It has screwed scores of hospital budgets, snarled up the school building process and lumbered taxpayers with billions of pounds of hidden debts, yet the private finance initiative continues to thrive.  Why?


NEGATIVE EQUITY? GOOD! OpenPublishing |
Submitted by robin bile on Monday, 14 April, 2008 - 11:10
NEGATIVE EQUITY? GOOD!
subject: Markets

Forget about 'peak oil' and focus instead on 'peak power' OpenPublishing | News & Analysis
Submitted by unterschreber on Thursday, 3 April, 2008 - 19:51
A.F. Alhajji

Financial Times 'Insight' column (April 2, 'Companies & Markets' section) which may be too quick to dismiss the role of the free-falling dollar in dollar-denominated oil prices, but makes an interesting case for the necessity of the current 'speculative' $100+ a barrel rate based on total stocks, once producer countries' excess capacity levels are considered in relation to their own domestic energy needs.  The author unwittingly comes close a 'Midnight Notes'-type argument: the Opec states are forced to provide for electricity demand from growing


Big cheques in the post OpenPublishing | News & Analysis
Submitted by unterschreber on Thursday, 3 April, 2008 - 18:56
Private Eye (In the Back)

Last year's Royal Mail strikes responsded to an ongoing attack on postal workers' conditions, the origins of which can be traced directly to the competitve, 'harmonized' market being gradually introduced under the EU Postal Directives of 1997 and 2002.  The threatened closure of post offices across the UK also falls within the Directives' market logic.  (It remains to be seen if local post office user campaigns, whose bandwagon now groans under the weight of Ken Livingstone and a posse of embarrassed/embarrassing Labour MPs, will manage to organize in solidarity w


Death data drive new market OpenPublishing | News & Analysis
Submitted by unterschreber on Tuesday, 25 March, 2008 - 03:20
Sophia Grene (FT Fund Management)

Courtesy of the Financial Times, the latest news on the financial sector's most self-allegorizing activity: death hedging.  Or more prosaically, the develpment of 'longevity derivatives' and associated indices, through which fund managers can hedge against the risk that people (not to speak of broker-dealers) might not die soon enough.  In this update, Deutsche Börse has introduced live (so to speak) data feeds from undertakers to find out the age of the bodies they bury.

Death data drive new market


Eco-imperialism at the Bali summit? OpenPublishing | News & Analysis
Submitted by unterschreber on Wednesday, 19 December, 2007 - 23:30
James Heartfield

Brief historicization (from www.spiked-online.com) of the latest inter-governmental eco-policy deal, looking into the way certain branches of capital established the 'Green' agenda long before its discovery by counter-culture and adoption by mainstream moralism.  The ideology of Scarcity is perpetual, but it took on this distinct institutional form during the late 20th century Supply Side ascendancy.  Incidentally the implicit contradiction between an 'eco-imperialist' drive to keep the 'underdeveloped' world that way (as a 'non-capitalist' source of loot) and industrial capi


The Chinese Road OpenPublishing | News & Analysis
Submitted by unterschreber on Wednesday, 15 August, 2007 - 20:54
Richard Walker & Daniel Buck

From New Left Review (http://www.newleftreview.org/?page=article&view=2678) some solid statistical evidence -- particularly strong on intersections of national, municipal, private and foreign capital -- for a point that might have seemed to border on truism but apparently is not gasped in mainstream 'China studies: the expansion of Chinese industrial capitalism in the last 20 years can is broadly comparable to the same process in Europe and America in the 19th century, and speculation over notions like 'the paradoxes of market socialism' is useless.  (Anyone who doubted this s


A Boom Without End? Liquidity, Critique and the Art Market Editorial content | Magazine
Submitted by mute on Monday, 13 August, 2007 - 10:16
Suhail Malik
If the wider economy were to crash, would the art market follow it down? And are critical-political claims for art as inflated as prices? Suhail Malik puts his money on art's (economic) autonomy

Images by "     " [sic] Tim Goldie
 


a_town_called_alexander OpenPublishing |
Submitted by davem on Sunday, 12 August, 2007 - 10:26
a_town_called_alexander

a_town_called_alexander by Dave Miller


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