The Coming European Debt Wars By Michael Hudson from UMKC et al

Readers, there seems to be a few messages here somewhat between the lines of the actual article. For the moment Argentina's response to IMF usury, aka austerity," seems to be a beginning point. Further, that the whole concept and model of what is defined to describe a functional sovereign economy has to be redefined. Hudson has aptly included land taxes, which by keeping them lower than sppropriate has been used for centuries as a means of protecting wealth to the net harm to the community which produced the associated wealth.

Fed Reveals Bear Stearns Assets It Swallowed in Firm’s Rescue By Craig Torres, Bob Ivry and Scott Lanman Bloomberg

Readers, I have added to the bottom of this Bloomberg article a commentary by Karl Denninger of the Market Ticker site. In effect Denninger provides a less restrained analysis. Admin

April 1 (Bloomberg) -- After months of litigation and political scrutiny, the Federal Reserve yesterday ended a policy of secrecy over its Bear Stearns Cos. bailout.

Why Programs Fail Richard Levins from Monthly Review

Richard Levins ( is a third generation subversive, an ex-farmer, ecologist, and veteran of the Puerto Rican independence movement, Science for the People, anti-war, Marxist education, and other good causes. He teaches Human Ecology at the Harvard School of Public Health and is an adjunct foreign researcher at the Cuban Institute of Ecology and Systematics. This article is based on a lecture to the South Asian Student Association at the Harvard School of Public Health, May 7, 2009.

The U.S. Economy and China: Capitalism, Class, and Crisis Martin Hart-Landsberg

Martin Hart-Landsberg ( teaches economics at Lewis and Clark College, Portland, Oregon, and is the author with Paul Burkett of China and Socialism (Monthly Review Press, 2005).

The Chinese Are Coming! The Chinese Are Coming! Oh My! By Yeva Nersisyan and L. Randall Wray

One of the scare tactics in the toolbox of the deficit hawks is the argument that Chinese ownership of U.S. government bonds is dangerous, economically and politically. Portraying the government as a currency user akin to households, they argue that after reaching some debt to GDP threshold, sovereign governments face difficulties in finding takers for their debt so that they have to pay higher interest rates to compensate holders for higher risk of default.


Ok, here is the dumbest headline the NYTimes has run in recent days: Social Security Payouts to Exceed Revenue This Year

The system is expected to pay out more in benefits this
year than it receives in payroll taxes, a tipping point
toward insolvency.

Truth Has Fallen and Has Taken Liberty With It Good-bye By Paul Craig Roberts

During times of universal deceit, telling the truth becomes a revolutionary act. George Orwell
There was a time when the pen was mightier than the sword. That was a time when people believed in truth and regarded truth as an independent power and not as an auxiliary for government, class, race, ideological, personal, or financial interest.
Today Americans are ruled by propaganda. Americans have little regard for truth, little access to it, and little ability to recognize it.


COLUMBUS, Ohio - Employees may dislike abusive bosses, but they dislike incompetent, disorganized managers even more. A new study suggests that mismanagement may be the biggest threat to working with dignity.

In a new book, a sociology professor at Ohio State University analyzed more than 100 studies of contemporary workplaces to discover how employees found (or failed to find) dignity - a sense of meaning and fulfillment in their work.

Spitzer/Rosner: “Lehman Scandal: Where’s the Follow Up?” From New Deal 2.0

By Eliot Spitzer, former governor of New York who blogs for and guest posts on New Deal 2.0, and Josh Rosner, the managing director of an independent financial services research firm

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