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Category Archives: Empire
A Look Under the Hood of an Obama Administration By JOSHUA FRANK
Tuesday’s celebration hangovers have finally started to wear off, and the pieces are beginning to fall into place. Change will be coming to Washington in January, but it is difficult to decipher what form it will take. Early clues, however, suggest that Barack Obama’s administration will prove unlikely to alter the fundamental political machinery that has led us into war and economic turmoil. Below is a brief summary of Obama’s potential choices for a few key roles in his administration.
Updated 27 Nov.08 Continue reading
Posted in Disclosure, Empire, Redneckia
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Misconceptions of Obama fuel Republican campaign – 13 Oct 08
Fox news attacks Obama Voting machine problems; Long lines at the polls today Missing ballots, balky machines hamper voting in key states Straight-ticket voting not straightforward Tim Robbins clashes with poll worker
World Tires of Rule by Dollar By PAUL CRAIG ROBERTS
On October 28, RIA Novosti reported that Russian prime minister Vladimir Putin suggested to China that the two countries use their own currencies in their bilateral trade, thus avoiding the use of the dollar. China’s prime Minister Wen Jiabao replied that strengthening bilateral relations is strategic. Continue reading
Posted in Disclosure, Economics, Empire
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Greenspan admits ‘flaw’ in ideology
Greenspan said he was in a ‘state of shocked disbelief’ [AFP]
“Do you feel that your ideology pushed you to make decisions that you wish you had not made?”
Greenspan replied: “Yes I found a flaw. I don’t know how significant or permanent it is, but I’ve been very distressed by that fact.” Continue reading
Posted in Economics, Empire, Ideaology
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Racism, Obama and the Fall of the American Economy – The Law of the Jungle by Fidel Castro
Racism is deeply-rooted in the United States where the mind of millions of people can hardly reconcile with the notion that a black man, with his wife and children could live in the White House, which is precisely called White. Continue reading
Posted in Empire, Redneckia, Speeches
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Islamic finance rides the storm – SMH – 11 Oct.08
A thriving financial sector sounds like an oxymoron these days. Even Australia’s banks – among the most profitable in the world -kept a fifth of this week’s interest rate cut to cushion their margins. But there is one sector that has tongues wagging in the hubs of commerce: Islamic finance.
While the Western world’s financial system has been imploding, this small but rapidly growing share of world capital has weathered the storm.
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Posted in Economics, Empire, Religion of Abraham
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A Futile Bailout as Darkness Falls on America By PAUL CRAIG ROBERTS
The defaults will continue, because the economy is sinking into recession. Homeowners are losing their jobs, and homeowners are being hit with rising mortgage payments resulting from adjustable rate mortgages and escalator interest rate clauses in their mortgages that make homeowners unable to service their debt.
Shifting the troubled assets from the financial sectors’ books to the taxpayers’ books absolves the people who caused the problem from responsibility. As the economy declines and mortgage default rates rise, the US Treasury and the American taxpayers could end up with a $700 billion loss.
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Posted in Economics, Empire
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A Powerful Trap – The Recurring Myth of Peak Oil By ISMAEL HOSSEIN-ZADEH
The Peak Oil theory maintains that world production of conventional oil will soon reach a maximum, or peak, and decline thereafter, with grave socio-economic consequences. Some proponents of the theory argue that world oil production has already peaked, and is now in a terminal decline [1].
Although, on the face of it, this sounds like a fairly reasonable proposition, it has been challenged on both theoretical and empirical grounds. While some critics have called it a myth, others have branded it as a money-making scam promoted by the business interests that are vested in the fossil fuel industry, in the business of war and militarism, and in the Wall Street financial giants that are engaged in manipulative oil speculation. Continue reading
Posted in Conspiracy, Economics, Empire
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An Islamic Perspective – Meltdown in American Markets By LIAQUAT ALI KHAN
Call it the consequences of irresponsible American invasions, call it the irrational exuberance of short sellers, call it the catastrophe of subprime lending, call it the mismanagement of leveraged products, blame it as you may, American markets are facing unprecedented meltdown and doomsayers see little promise in the federal bailout package. Ironically, the Wall Street has noticed that Shariah-compliant investments–which avoid speculative risk and debt-ridden greed–have fared much better in these troubled markets. In the past few years, Shariah-compliant investments in Western markets have grown to more than half a trillion dollars. Continue reading
Posted in Economics, Empire, Religion of Abraham
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Q&A: The US financial meltdown
Several categories of individuals and institutions stand accused for the current financial crisis in the US. We examine the blame game and how it all got this bad.
What is happening in the financial sector of the United States?
The investment bank Bear Stearns was bailed out by the Federal Reserve (the central banking system) for $29 billion, and the US Government has since taken over the home mortgage titans Fannie Mae and Freddie Mac, at a potential total cost to the taxpayers of $200 billion. Yet, the turmoil in the financial markets continues.
Updated 30 Sep.08
Posted in Economics, Empire
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