Tag: Economic Crisis

The Clenched Fist

In his Inaugural Address, President Obama told the Muslim world, “We seek a new way forward, based on mutual interest and mutual respect.”  He told leaders around the globe “who seek to sow conflict, or blame their society’s ills on the West” that their people will judge them on what they can build, not what they destroy.  He told those “who cling to power through corruption and deceit and the silencing of dissent, that they are on the wrong side of history, but that “we will extend a hand if you are willing to unclench your fist.”

It would have been more fitting to target Republicans with that message, Mr. President.  You’ve extended your hand to them, but they will not unclench their fists.  You’re offering a new way forward, based on mutual interest and mutual respect, but they will not unclench their fists.  You’ve given them three fucking cabinet positions, but they will not unclench their fists.  Those mouth breathers will never unclench their fists; beating Democrats, liberals, gays, minorities, and the poor and the powerless to a bloody pulp is what they do, it’s hardwired into their lizard brains.

A Shift Toward Worker Power?

Original article, by Allan Nairn and subtitled The Time is Ripe to Tip the System, Now, via Dissidentvoice:

In bad situations, people lower their standards for what it is that constitutes good news.

One Does Not Simply Walk Into Mordor

After a long day of projecting confidence, after reassuring Americans that we can deal with all of these crises, once that’s been done, once you reach the sanctuary of the White House family quarters and you’re alone, Mr. President, are you frightened?

Barack Obama Pictures, Images and Photos

You’re an intelligent man, you see what’s happening so you must be frightened.

But I don’t think you’re frightened enough.  I know what hunts you.

In their hearts, millions of Americans walked beside you down Pennsylvania Avenue on Inauguration Day, but one cannot simply walk into Mordor and call it change we can believe in.  Bush and Cheney have burrowed their orcs into every agency of the federal government. Their uruk-hai still infest the Pentagon and the NSA.  They have 55 million Gollums, they still have more than 200 Wormtongues in Congress and five Nazgul on the Supreme Court. They want their Precious back, their Ring of Power, if they have to destroy what’s left of America to get it back, they will.    

No.  One does not just walk into Mordor.  There is evil there that does not sleep.  The great eye is ever watchful.  

The New York Times and Obama’s inauguration

Original article, by David Walsh, via World Socialist Web Site:

The inaugural address delivered by Barack Obama Tuesday has elicited a torrent of commentary, in the US and around the world. Some of the most deluded and dishonest comments issue from the pages of the New York Times, the “newspaper of record” and voice of American liberalism.

So who’s predicting economic collapse? And why?

This is a brief rundown of some recent doomsaying: although we might predict that the visionaries would suggest that the game is up, we’re also seeing this from portions of the mainstream.  This runs counter to the common wisdom that predicts economic boom in the hopes that such predictions will morph into self-fulfilling prophesies, and should be an indication that we’ve entered a new era in economic thought.

(crossposted at Big Orange)

Banks in meltdown. Take them over.

Original article, by Mick Brooks, via Socialist Appeal (UK):

Stock exchanges in Britain and the USA have been on the slide over the past few days. The reason is not hard to seek. The FTSE has been spooked by bank shares collapsing. Barclays, for instance, saw 25% of its share price shaved off in one hour last Friday (16.01.09). This was the day after the bank announced 2,100 job losses.

Obama prepares sweeping cuts in social programs

Original article, by Patrick Martin, via World Socialist Web Site:

Barack Obama took the occasion of his first press appearance in Washington as president-elect to declare his determination to impose policies of budgetary austerity, including the elimination of entire federal programs and cost-cutting in the entitlement programs such as Social Security, Medicare and Medicaid that are of vital importance to tens of millions of elderly and poor people.

Hitting Bottom


It’s clear to this unbiased observer that Hell froze over as the hand-basket arrived.

It’s clear the October Surprise was to saddle the in-his-heart progressive, Obama, with a fucking millennial nightmare to thwart any meaningful change which might have occurred under a regime with a human heart.

Protectionism: can it help us survive?

Original article, by Neil Faulkner, via Socialistworker.org (UK):

The economic crisis that swept the globe in 2008 provoked debate about whether individual states or trade blocs could insulate themselves from the international turmoil through “protectionist” economic measures.

The crash of 2008 and the prospects for 2009

Original article, by Nick Beams, via World Socialist Web Site:

Whenever a historical review is made certain years attract attention because of the decisive events with which they are associated. The years 1914, 1929, 1933, 1939 and in more recent times 1956 and 1989 are some that come to mind. The year 2008 is destined to join this group.

Who caused the great crash of 2008?

Original article, subheaded Lee Sustar analyzes the roots of the worst economic crisis since the Great Depression–and shows why Marxism offers the best way of understanding what went wrong, via Socialist Worker (US):

THERE ARE plenty of people who should be held accountable for turning an ordinary recession that began a year ago into a global catastrophe.

Obama holds press conference, promises “whatever is required” for Wall Street

Original article, by Tom Eley, via World Socialist Web Site:

On Monday, US President-elect Barack Obama held a press conference in Chicago to announce selections for his “economic team.” After these introductions, Obama spoke briefly and in vague terms about a proposed economic stimulus package, and then took five questions from reporters.

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