Betting on a Global Crapshoot

(Artwork: James Fryer / The Economist)

truthout.org has a very pertinent piece by Steve Weissmann on all that money being thrown at US banks:

"You have to hand it to Wall Street. It wreaks havoc on the global economy, and the rest of us - as taxpayers - prop it up so that it can do it all over again.

We give the Wall Street banks trillions of dollars in bailout money, and they still fail to do their job, which is to loosen credit and provide the liquidity that businesses and consumers need. A major hedge fund - Cerberus Capital - plays chicken with President Obama in his effort to save Chrysler. Bankers spend millions lobbying to stop Congress from providing help to homeowners facing foreclosure. And, having failed to stop a Credit Card Bill of Rights in the House of Representatives, the banksters now aim to kill it in the Senate.

Because Bank of America, CitiBank, AIG, Goldman Sachs and the others are "too big to fail," Treasury Secretary Tim Geithner continues to redistribute astronomical sums of money from taxpayers to these giants of finance capitalism. And, predictably, they use our money to remain too big to fail as they extend their power in the most predictable ways."

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Robert Fisk's predictions for the Middle East in 2013

There is no gain-saying that Robert Fisk, fiercely independent and feisty to boot, is the veteran journalist and author covering the Middle East. Who doesn't he know or hasn't he met over the years in reporting from Beirut - where he lives? In his latest op-ed piece for The Independent he lays out his predictions for the Middle East for 2013. Read the piece in full, here - well worthwhile - but an extract... "Never make predictions in the Middle East. My crystal ball broke long ago. But predicting the region has an honourable pedigree. “An Arab movement, newly-risen, is looming in the distance,” a French traveller to the Gulf and Baghdad wrote in 1883, “and a race hitherto downtrodden will presently claim its due place in the destinies of Islam.” A year earlier, a British diplomat in Jeddah confided that “it is within my knowledge... that the idea of freedom does at present agitate some minds even in Mecca...” So let’s say this for 2013: the “Arab Awakening” (the t

The NPT (Nuclear Non-Proliferation Treaty) goes on hold.....because of one non-Treaty member (Israel)

Isn't there something radically wrong here? Israel, a non-signatory to the NPT has, evidently, been the cause for those countries that are Treaty members, notably Canada, the US and the UK, after 4 weeks of negotiation, effectively blocking off any meaningful progress in ensuring the non-proliferation of nuclear weapons. IPS reports ..... "After nearly four weeks of negotiations, the Nuclear Non-Proliferation Treaty (NPT) Review Conference ended in a predictable outcome: a text overwhelmingly reflecting the views and interests of the nuclear-armed states and some of their nuclear-dependent allies. “The process to develop the draft Review Conference outcome document was anti-democratic and nontransparent,” Ray Acheson, director, Reaching Critical Will, Women’s International League for Peace and Freedom (WILPF), told IPS. “This Review Conference has demonstrated beyond any doubt that continuing to rely on the nuclear-armed states or their nuclear-dependent allies for l

#1 Prize for a bizarre story.....and lying!

No comment called for in this piece from CommonDreams: Another young black man: The strange sad case of 21-year-old Chavis Carter. Police in Jonesboro, Arkansas stopped him and two friends, found some marijuana, searched put Carter, then put him handcuffed behind his back into their patrol car, where they say he shot himself in the head with a gun they failed to find. The FBI is investigating. Police Chief Michael Yates, who stands behind his officers' story, says in an interview that the death is "definitely bizarre and defies logic at first glance." You think?

Mahler's Prodigal Son

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