Fed policy is no solution.what these people are ignoring is that the greatest danger to the financial system, including themselves, is deflation, because deflation means, conversely with inflation, that the value of the dollars is going up, the value of the dollar is going up. So that means that debt holders—it’s going to be more [...]
Noam Chomsky: Liberal-conservative divide no more than an illusion amongst ordinary Americans… “Reconstituting a functioning democratic society (to the extent that there was one), which means popular organizations in which people participate. That’s how you get ideas. Even if you’re working, say, on this floor of MIT in the sciences, you don’t sit by yourself. [...]
“How Washington Made the Rich Richer—And Turned Its Back on the Middle Class” On Capitol Hill, Senate Republicans are threatening to filibuster every bill until the Democrats agree to extend the Bush-era tax cuts to all income groups. The Obama administration and many Democrats want to retain the lower rates only for individuals with an [...]
The distributional struggle over who would carry the costs of the crisis would continue, but more favourable conditions would have been created within which to fight for a progressive solution in the interests of the many. Debtor-led default could prove the start of an anti-capitalist turn across the periphery of the Eurozone that would lift [...]
Greece ? Ireland ? Portugal ? Spain ? Italy ? UK ? ? The leading monetary economist told the Wall Street Journal that this was not a liquidity crisis, but an insolvency crisis. She said that Bernanke is fighting the last war, and is taking the wrong approach (as are other central bankers).the government’s attempts [...]
Reflections by Fidel Castro Last Friday, on December 3rd, the UN decided to devote one General Assembly session to analyzing the cholera epidemic in that sister country. News of that decision was heartening. Surely it would serve to alert international opinion about the seriousness of the fact and to mobilize its support of the Haitian [...]
Michael A. Lebowitz will deliver the Fourth Annual Lecture in Memory of Nicos Poulantzas (“Building Socialism of the 21st Century: The Logic of the State”) on Wednesday, 8 December 2010, 7 PM, at the auditorium of the Goethe Institute (Omirou St. 14-16) in Athens, Greece. Mr. Lebowitz, is Marxism still relevant today? I ask because, [...]