The South African Civil Society Information Service
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
Glenn Ashton -
The time has come to shift towards a more equitable society.
The present disruption in the marketplace will continue to rock the global financial system for years. This economic shake-out signals many things, perhaps even the end of capitalism as we know it. After all, free market capitalism is meant to stand on its own two feet, independent of state interference. It was never meant to have been rescued by taxpayers funds, as is now the case. The average citizen was never consulted about...
Shortly after the G7 meeting last Friday, US Secretary Paulson announced that the Bush administration would move to 'sort of' nationalise some banks. But Pepe Escobar argues that this won't be enough to calm the markets in the current financial crisis, particularly as everybody is ignoring the elephant in the room - the massive US trade deficit. Corporate US offshores everything. With a smaller US deficit, the world would not have been so polluted by so many toxic US finance instruments,...
Joshua Holland -
Editors Note: Despite being rejected by Congress earlier this week, the controversial bailout bill has since been approved by the American Senate and made its way back to the House of Representatives where it was endorsed the second time round. For updated commentary on this issue, you may wish to read: Bailout Passes Senate: 9 Reasons That's Bad News and The Really Hard-to-Swallow Truth About the Bailout and The Bailout: How Capitalism Killed Democracy.
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On Monday, the Bush...
