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OpenPublishing |
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. prime Olympic boom territory, has been without electricity for SIX days and counting. The supplier (French state-controlled London Olympic bid sponsor EDF Energy) blames a water leak (Thames Water: acquired for £8 billion by Macquarie Bank of Sydney, 2006). You couldn't ask for a better display of how financialized infrastructure works: resource rundown by two fragments of the former utility system converges neatly to make life impossible for guess which class demographic (sitting on guess which real estate...)
OpenPublishing |
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. Hudson, Super Imperialism), and to the present commodity price bubble inflated by investment attempting to hedge its way out of exposure to perilous financial 'products'. subject: Agriculture | Class | Economics | Financial Crisis | History | Markets
OpenPublishing |
Submitted by unterschreber on Wednesday, 16 April, 2008 - 21:19
Michael Hudson
subject: Banking | Class | Credit | Debt | Economics | Fictitious Capital | Financial Crisis | Government | Liquidity | Markets | Money | Policy
OpenPublishing |
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. subject: Business | Debt | Government | Markets | Money | New Enclosures | Policy | State
OpenPublishing |
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 and increasingly urbanized (read: proletarianized) populations, to the point of actually having to import oil to run power plants. Consequently 'excess' (i.e. world market-ready) capacity is falling, pushing market prices up, even as inventories and capacity increase in absolute terms. subject: Energy Resources | Finance & Trade | Globalisation | Markets | Oil
OpenPublishing |
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 with the Royal Mail workers.) This Private Eye squib mentions the workers only in passing and the Directives not at all, but it draws attention to an important mediating stage in the restructuring: the banker-run Shareholder Executive, created in 2002 to subject the UK's remaining state-owned companies to the ultra-short-term criteria of 'shareholder value' subject: Business | Class | Government | Labour Struggles | Management Theory | Markets | Money | New Enclosures | Patronage | Policy | Strategy
OpenPublishing |
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. subject: Computing | Finance & Trade | Hedge Fund | Information | Markets | Money | Pathopraxis | Strategy | Streaming | Surveillance | Technology
OpenPublishing |
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 capitals' need to draw ever more labour-power into their orbit was explained by Rosa Luxemburg in 1913 in 'The Accumulation of Capital': "The conditions for the capitalization of surplus-value clash increasingly with the conditions for the renewal of the aggregate capital – a conflict which, incidentally, is merely a counterpart of the contradictions implied in the law of a declining profit rate". subject:
Science | Business | Climate Change | Conferences | Economics | Energy Resources | Environment | Events | Finance & Trade | Globalisation | History | Markets | Strategy
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