POLITICS: Daily Round-Up

William Greider, “Economic Free Fall” (The Nation):  “The gravest danger is that the national economy will weaken further and spiral downward into a negative cycle that feeds on itself: as conditions darken, people hunker down and wait for the storm to pass–consumers stop buying, banks stop lending, producing companies cut their workforces. That feeds more defaulted loan losses back into the banking system’s balance sheets. This vicious cycle is essentially what led to the Great Depression after the stock market crash of 1929. I offer not a prediction but a warning. The comparison may sound farfetched now, but US policy-makers and politicians are putting us at risk of historic deflationary forces that, once they take hold, are very difficult to reverse.”  Feeling angry and low about the Yankees’ recent woeful road trip?  That’s nothing. Greider should fuel that even more, but it’s a must-read nonetheless.

Few Westerners have as good a grasp of what has unfolded in Iraq since America’s invasion over five years ago–how Iraqis feel about it, how the insurgency against it formed and coalesced, the region’s shifting geopolitics, the lie that is the success of the “surge” (remember, not a troop increase), Iraq’s internal politics, and more–as Patrick Cockburn.  This excellent article in CounterPunch is another must-read from someone who has spent considerable time in Iraq.

The 2008 Beijing Olympic Games are rightly drawing considerable interest from viewers around the world and producing breathtaking spectacles such as the well-choreographed and festive opening ceremonies, and drama in sporting events such as swimming.

Not all is well for tens of millions of workers in China’s rapidly booming economy, however, as Christian Parenti reminds.

Nice going, John.  Elizabeth Edwards gained a lot of respect from me for her calm, reasoned approach to that fascistic hag Ann Coulter last year.  She gained even more when it became clear the last few days that she defended her husband from Coulter and other superficial critics after her husband had an affair.

Published in: on August 11, 2008 at 2:21 am  Comments (3)  

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3 CommentsLeave a comment

  1. I have never been into politics but have skimmed through some of your stuff. So you are almost exclusively my source for politics. You better know what you are talking about 🙂


  2. he does…

  3. I’m sure he does, I was just kidding around


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