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Friday, 06 February 2009

Gaza War / US Financial Crisis

Alain Gresh on the situation in the Middle East after the recent Gaza War. Ralph Nader on the Clinton administration's key contribution to financial deregulation. John Bellamy Foster and Fred Magdoff offer detailed analysis of the current financial crisis.
"Gaza War Changes Middle East Equation at Israel’s Expense" by Alain Gresh

The European Union’s policy of funding Gaza’s development is just one casualty of Israel’s unprecedented attack, which has weakened the Palestinian Authority but left Hamas politically stronger than ever. Israel's seige of Gaza has changed the options in the Middle East at Israel's expense. Alain Gresh on Israel's "long march to folly since 1967."

Le Monde Diplomatique (Feb. 2009)

"How 'Brilliant' Men Crashed the Economy What to Do About Wall Street" by Ralph Nader

The Democratic Party under Bill Clinton worked for the passage in 1999 of the
Clinton-Rubin-Summers-P. Graham bill to deregulate the financial industry. Clinton et al succeeded in abolishing the Glass-Steagall Act. Look where the US economy is in 2009. Ralph Nader on this history and why Wall Street should be eliminated.

CounterPunch (2/2/09)

"Financial Implosion and Stagnation" by John Bellamy Foster and Fred Magdoff

Foster and Magdoff offer detailed analysis of the US financial crisis.
They conclude that financialization is so essential to the monopoly-finance capital today, that a Keynesian “euthanasia of the rentier” cannot be achieved—to create a more rational capitalism—without moving beyond the system itself. This is a global turning point. Will the world will finally be ready to take the step of repudiating an alienated economic morality used to justify the exploitation necessary for the accumulation of capital to create a more rational social order? Foster and Magdoff argue that it is necessary for people to seize control of their political economy, replacing the present system of capitalism with something amounting to a real political and economic democracy.

Monthly Review (Dec. 2008)
Posted in Miscellaneous by cda at 9:25 PMPermalink

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