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« Previous EntriesDefiant Brown defends his economic record
Tuesday, April 15th, 2008By Andrew Porter, Robert Winnett and Myra Butterworth Gordon Brown has been forced to defend his premiership and in particular his economic record as he faced mounting criticism over the credit crisis. As Britain’s biggest mortgage lenders snubbed his calls to cut the cost of borrowing, the Prime Minister gave a series of interviews to insist he was only "starting" the job. Amid ...
tagged Money and UK-News
How Brown makes the poor pay more tax
Thursday, April 10th, 2008Socialist Worker And widens the gap between the rich and the rest of us LOSER: Call centre worker Abolition of bottom rate tax band will hit a 24 year old who earns less than £18,000 a year, but must now pay £232 more tax a year WINNER: Big business Corporation tax has been reduced again – to just 28 percent – ensuring that Barclays' £7 billion profits stay with the rich LOSER: Pensioner Like more ...
tagged Money and UK-News
Confessions of an Economic Hit Man
Friday, April 4th, 2008I'll admit it: I used to admire John McCain. To paraphrase the UFO poster from "The X Files," I wanted to believe. Specifically, I wanted to believe the guy talking tough about campaign finance reform was committed to getting money out of politics. This was the Arizona senator who in 2002 taped a radio ad praising his state's "clean elections" system. It provides public money to candidates so they don't have to ...
tagged Money and USA-News
The Forbidden Financial Topic: U.S. National Debt
Thursday, April 3rd, 2008Mike Adams As we wind our way towards an election between the numerous professional liars who have been put forward as candidates for U.S. President, it seems to be a great time to remind us all about the financial issue being routinely ignored by virtually everyone (except Ron Paul, of course, who was never really embraced by the "please lie to me" mainstream public). To what financial issue am ...
tagged Money and USA-News
Disgusting Profits by Armament Companies
Tuesday, April 1st, 2008I’ve been joking the last few years that if you invested in military stocks on January 20, 2001, you’d be sitting pretty right now. Well, now I’ve got some more evidence to back up that not-so-funny joke. Since the Iraq War began, aerospace and defense industry stocks have more than doubled. General Dynamics did even better than that. Its stock has tripled. Banking on its Abrams tanks and Stryker troop transports, General Dynamics gobbled up ...
tagged Iraq, Money and USA-News
Federal Reserve could be given more power
Saturday, March 29th, 2008America's Treasury Department will tomorrow put forward plans for a revamp of US financial regulation in an attempt to curb the lending excesses that triggered the credit crisis. The new blueprint, drawn up by Treasury secretary Hank Paulson, would, if adopted, replace a system that has been built up over more than a century. The Federal Reserve would be given broad powers over financial markets, including a remit to investigate any ...
tagged Money and USA-News
Blackwater sells itself as a peacekeeper
Wednesday, March 19th, 2008Blackwater Worldwide, the private security company whose guards are accused of shooting dead 17 Iraqi civilians last year, is attempting to reposition itself as a peacekeeping force as work in Iraq begins to dry up. Adverts have appeared in security industry journals featuring mothers feeding babies and Blackwater guards smiling as children play in the street. The US-based company has also set up a subsidiary, Greystone, which is seeking to win peacekeeping ...
tagged Military and Money
Fears mount over US economy
Friday, March 14th, 2008The US economy has been hit by more bleak news, with a series of announcements adding to an already gloomy picture. A slump in consumer spending, another drop in the dollar, and oil prices at new highs pushed the White House to admit that the next few months would be "difficult and challenging"....
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Banking with Hitler during World War II
Thursday, February 14th, 2008thecounterpunch This investigative film shows in detail the roles played by the Anglo-German banking Cartel (notably the Bank of England controlled by the Rothschild and the Chase National Bank controlled by the Rockfeller as well as the Harriman/Bush's Bank) through the BIS the Bank of International Settlement not only before the war but during the war. The BIS was originally established in May 1930 ...
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Amid record losses, Wall Street awarded itself $39 bil
Thursday, January 24th, 2008By Andre Damon The five largest Wall Street banks doled out a record $39 billion in bonuses last year, according to data collected by the Bloomberg news service. After driving hundreds of thousands of families into foreclosure, causing a financial crisis affecting hundreds of millions, and pushing the US and world economies closer to recession, it appears Wall Street is rewarding itself for a job well done. The banks announced ...
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The McDonalds Happy Meal Report Card
Monday, January 21st, 2008
[Seminole County, Florida, is a hotbed of opposition to teaching evolution]
AD AGE - "This is a good day for parents and children in Seminole County and anyone who believes that corporations should not prey on children in schools," said Dr. Susan Linn, director of the Campaign for a Commercial-Free Childhood. "We are ...
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Big Business Is Even More Unpopular Than You Think
Thursday, January 17th, 2008Robert Weissman The U.S. public holds Big Business in shockingly low regard. A November 2007 Harris poll found that less than 15 percent of the population believes each of the following industries to be “generally honest and trustworthy:” tobacco companies (3 percent); oil companies (3 percent); managed care companies such as HMOs (5 percent); health insurance companies (7 percent); telephone companies (10 percent); life insurance companies (10 percent); online ...
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Dollar Mixed As Wall Street Tumbles
Sunday, January 13th, 2008Associated Press The dollar rose slightly against the euro and pound on Friday, benefiting from nervous currency investors withdrawing from risky "carry trades." A slumping Wall Street, which fell more than 300 points on Friday, drove traders away from those trades. Carry trades involve borrowing currencies from countries with low interest rates, such as Japan and Switzerland, and investing the funds in higher-yielding assets elsewhere. Carry-trade beneficiaries are usually the euro ...
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Sinking dollar alters the game in 2008
Friday, January 4th, 2008Templewest Almost every news network did a story in 2007 about foreigners coming to the states to shop and invest, even in real estate. What compelled this behavior? Among the many troubles confounding Fed Chairman Ben Bernanke during this credit crisis is the steady decline of the U.S. dollar. He and the Fed have reduced the federal funds target rate, which now stands at 4.25, attempting to stimulate lending ...
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Un-American Lockheed Martin and Treason for Profit
Thursday, January 3rd, 2008As more news about Benazir Bhutto's assassination comes out, clearly implicating the Musharraff regime in the murder, our tax dollars are going toward paying Lockheed Martin for weapons to Pakistan. "Washington, Jan 1 - The US Defence Department has awarded a $498.2 million contract to Lockheed Martin Corp to supply 18 F-16 aircraft to Pakistan just ten days after the US Congress slapped restrictions on ...
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