World-News

John Mottern, Truthout: "The diversity of Camp Runamuck illustrates the impact current economic times are having on those living to close to the edge in America. Young and old, blue collar workers and professionals - all are appearing in greater numbers in these tent cities after losing jobs and homes. 'Homeless' no longer refers to mostly alcoholics, drug addicts and the mentally ill. It now includes many whose options have just plain run out."

https://www.truthout.org/090909R?n

 

https://freepage.twoday.net/search?q=homeless

Who's the number one weapons broker in the world, again? Take a guess
https://www.sfgate.com/columnists/morford/

 

Fate of Democracy Now in Supreme Court's Hands

If the court rules to free corporations to make unlimited campaign expenditures from their treasuries, the election playing field will be tilted massively against candidates advancing the public interest.

https://www.citizen.org/pressroom/release.cfm?ID=2959

 

Senate must raise debt ceiling above $12 Trillion

Obama is asking Congress to raise the debt ceiling, something lawmakers are almost certain to do despite misgivings about the federal debt. The ceiling already has been hiked three times in the past two years, and the House took action earlier this year to raise the ceiling to $13 trillion.

https://snipurl.com/rpq0p

 

Top 1 Percent of Americans Reaped Two-Thirds of Income Gains

Two-thirds of the nation's total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households, and that top 1 percent held a larger share of income in 2007 than at any time since 1928,

https://www.cbpp.org/cms/index.cfm?fa=view&id=2908

 

Treasury Sees Millions More Foreclosures

Only 12 percent of U.S. homeowners eligible for loan modifications under the Obama administration's housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said on Wednesday.

https://www.abcnews.go.com/Business/wireStory?id=8525289

 

Another Wave of Foreclosures Looms

The housing market faces the prospect of a new round of foreclosures as hundreds of thousands of risky home loans known as option adjustable-rate mortgages reset to significantly higher payments that could force borrowers to fall behind, according to a report released Tuesday by Fitch Ratings.

https://snipurl.com/rpq14

 

Job openings down 50% from the peak in 2007

6 unemployed people for every available position
https://snipurl.com/rpq18

 

Another financial crisis inevitable: Greenspan

Another global financial crisis is inevitable because human nature always reverts to "speculative excesses" during a period of sustained prosperity, former U.S. Federal Reserve Chairman Alan Greenspan said.

https://www.informationclearinghouse.info/article23452.htm

 

Greenspan and Buffett issue recovery warning - papers

Two of America's most noted financial commentators have argued the recovery of the US economy is not a given, despite the recent uptick in sentiment.

https://snipurl.com/rpq1k


From Information Clearing House

 

https://freepage.twoday.net/search?q=Obama
https://freepage.twoday.net/search?q=Greenspan
https://freepage.twoday.net/search?q=financial+crisis
https://freepage.twoday.net/search?q=federal+debt
https://freepage.twoday.net/search?q=Treasury
https://freepage.twoday.net/search?q=recovery
https://freepage.twoday.net/search?q=housing
https://freepage.twoday.net/search?q=mortgage
https://freepage.twoday.net/search?q=foreclosure
https://freepage.twoday.net/search?q=homeowner
https://freepage.twoday.net/search?q=unemploy
https://freepage.twoday.net/search?q=corporation

Seth Wessler, In These Times: "Last week, CNN reported that Obama's foreclosure prevention plan - the one that was supposed to keep millions of Americans in their homes by giving banks incentives to refinance mortgages - has not worked. In fact, just six percent of eligible households have received assistance. The impact of this failure is catastrophic, as millions of homeowners continue to slide into foreclosure. People of color have been hit hardest by the crisis, facing disproportionate rates of foreclosure as well as higher levels of unemployment. The recession has deepened the racial divide."


https://www.truthout.org/090909W?n

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Don't Get Rolled by Corporate Greed
https://www.commondreams.org/video/2009/09/09-1

'The Slave Next Door: Human Trafficking and Slavery in America Today'
https://www.commondreams.org/video/2009/09/09-0


https://freepage.twoday.net/search?q=Obama
https://freepage.twoday.net/search?q=racial+divide
https://freepage.twoday.net/search?q=slavery
https://freepage.twoday.net/search?q=recession
https://freepage.twoday.net/search?q=homeowner
https://freepage.twoday.net/search?q=mortgage
https://freepage.twoday.net/search?q=foreclosure
https://freepage.twoday.net/search?q=unemploy
https://freepage.twoday.net/search?q=Seth+Wessler

"NOW," PBS: "Closing Guantanamo Bay's prison will do little to close the debate on what we should do with alleged terrorists. 'NOW,' as part of a collaboration with the nonprofit investigative unit ProPublica, investigates the controversial tactic of 'preventative detention,' a government plan that may detain suspects indefinitely without trial or even formal charges."

https://www.truthout.org/090909G?n

 

https://freepage.twoday.net/search?q=Obama
https://freepage.twoday.net/search?q=Guantanamo
https://freepage.twoday.net/search?q=preventative+detention

The Spanish newspaper Público reported exclusively on Saturday that Judge Baltasar Garzón is pressing ahead with a case against six senior Bush administration lawyers for implementing torture at Guantánamo.

https://snipurl.com/rodi0


From Information Clearing House

 

https://freepage.twoday.net/search?q=Bush+legacy
https://freepage.twoday.net/search?q=torture
https://freepage.twoday.net/search?q=Guantanamo

The New Republic
by Peter Boone and Simon Johnson

09/05/09

[T]he Fed may well have mitigated our current crisis by sowing the seeds for the next one. All modern economies need a financial system that can connect people who want to save with those who have good investment projects. This is essentially what banks do. But, unfortunately, this process often goes wrong. And that is precisely what is happening now. Our banks have gotten into the habit of needing to be rescued through repeated bailouts. During this crisis, Bernanke — while saving the financial system in the short term — has done nothing to break this long-term pattern; worse, he exacerbated it. As a result, unless real reform happens soon, we face the prospect of another bubble-bust-bailout cycle that will be even more dangerous than the one we’ve just been through. If you’ve studied U.S. economic history, none of this will come as a surprise...

https://www.tnr.com/article/economy/the-next-financial-crisis


Informant: Thomas L. Knapp

 

https://freepage.twoday.net/search?q=financial+crisis
https://freepage.twoday.net/search?q=Federal+Reserve
https://freepage.twoday.net/search?q=Bernanke
https://freepage.twoday.net/search?q=bailout
https://freepage.twoday.net/search?q=bubble
https://freepage.twoday.net/search?q=Peter+Boone

By Ramsey Clark

Fear is the principal element in both public acceptance of torture and individual submission to it. The frightened public is persuaded that only torture can force confessions essential to prevent catastrophic acts-terrorism in the present context. The frightened victim is persuaded torture will be unbearable, or be his death.

https://www.informationclearinghouse.info/article23448.htm

 

"We're The Children Of Barnum & Bailey"

By Bill Moyers

Forget what you learned in civics about the Founding Fathers - we're the children of Barnum and Bailey, our founding con men. Their freak show was the forerunner of today's talk radio.

https://www.informationclearinghouse.info/article23450.htm

 

https://freepage.twoday.net/search?q=torture
https://freepage.twoday.net/search?q=Ramsey+Clark
https://freepage.twoday.net/search?q=Moyers

U.S. Dollar Falls Sharply Across The Board

The U.S. dollar fell sharply against most of its major rivals on Tuesday, as commodity prices and global equities posted gains.

https://www.foxbusiness.com/story/dollar-falls-sharply-board/

 

UN Says New Currency Is Needed to Fix Broken 'Confidence Game'

The dollar's role in international trade should be reduced by establishing a new currency to protect emerging markets from the "confidence game" of financial speculation, the United Nations said.

https://www.bloomberg.com/apps/news?pid=20601068&sid=aSp9VoPeHquI

 

Top Chinese official signals move away from dollar

The Chinese are becoming increasingly wary of the growing supply of U.S. dollars, leading the head of the nation's green energy initiatives to signal a move away from dollar reserves and toward, gold, euros and yen, according to a published report.

https://rawstory.com/08/news/2009/09/07/china-objects-to-dollars-growing-liquidity/

 

4 Signs that China is Moving Out of the Dollar

The U.S. Treasury Department revealed that China actually REDUCED its note and bond holdings by $25 billion in June. Although China did NOT sell shorter-term Treasury bills - and isn't expected to - it's still the largest amount of Treasuries China has ever sold in a single month.

https://www.washingtonsblog.com/2009/09/3-signs-that-china-is-moving-out-of.html

 

More US wealthy opt to surrender their citizenship

As offshore havens comply with transparency demands, a growing number of ultra-wealthy Americans are handing back their passports.

https://www.wealth-bulletin.com/rich-life/rich-monitor/content/1054959505/

 

Fed: Consumers Slash Debt by Record $21.6B in July

The Federal Reserve reported Tuesday that consumers ratcheted back their credit by a larger-than-anticipated $21.6 billion from June, the most on records dating to 1943.

https://www.foxnews.com/politics/2009/09/08/fed-consumers-slash-debt-record-b-july/

 

Van Jones decries 'lies and distortions,' quits as Obama's environmental advisor

Jones says he has become a distraction to the administration's healthcare agenda because of his videotaped insult of Republicans and his signature on a petition suggesting a 9/11 conspiracy.

https://snipurl.com/rodkf


From Information Clearing House

 

https://freepage.twoday.net/search?q=Obama
https://freepage.twoday.net/search?q=Treasury
https://freepage.twoday.net/search?q=healthcare
https://freepage.twoday.net/search?q=9/11

https://www.commondreams.org/video/2009/09/08

Help for Obama's Speech to Congress
https://www.commondreams.org/view/2009/09/08-11

Glenn Beck, Obama's White House, and the Progressive Movement
https://www.commondreams.org/view/2009/09/08-6

Free Press Calls on Obama Administration to Resist Extremism in the Media
https://www.commondreams.org/newswire/2009/09/08-10

ACLU: Supreme Court Urged To Deny Appeal On Torture Photo Case
https://www.commondreams.org/newswire/2009/09/08-2

Healthcare vs. Warfare: The Future Costs of the Afghanistan War
https://www.commondreams.org/view/2009/09/08-1

 

https://freepage.twoday.net/search?q=Obama
https://freepage.twoday.net/search?q=Glenn+Beck
https://freepage.twoday.net/search?q=Afghanistan
https://freepage.twoday.net/search?q=ACLU
https://freepage.twoday.net/search?q=torture
https://freepage.twoday.net/search?q=healthcare
https://freepage.twoday.net/search?q=Ray+McGovern
https://freepage.twoday.net/search?q=David+Sirota
https://freepage.twoday.net/search?q=Jeff+Leys