Daily Headlines & Propaganda from HumanBeingsAreFreeFriday, 17 October 2008 see All News
Mid-Night Edition Pt. 2, Global Governance Arising From Economic "Crisis"
GLOBAL GOVERNANCE ARISING FROM ECONOMIC "CRISIS"
World Business And Political Leaders Are Negotiating Behind Closed Doors
Europe and US agree to discuss global summit
Full article: http://www.irishtimes.com/
Excerpt(s): US and Europe Union leaders have agreed to meet at the weekend to prepare for a global summit to overhaul the world's financial system, while fears of global recession continued to rattle markets... The push for and overhaul of the global financial system is aimed at preventing a repeat of the credit crunch that sparked the biggest stock-market selloff since the Great Depression. It would be the first such summit ince the 1944 Bretton Woods accord that paved the way for Europe's ost-World War II reconstruction and set up the institutions that oversee the world economy today.
Economic Collapse: The Financial Death of the US Empire
Full article: http://www.antiwar.com/
Excerpt(s): The American empire is kaput. Neither John McCain nor Barack Obama realizes that fact yet, but the myth of the omnipotent unipower, the essential nation, the country which declares that what it says goes, has been exposed to all. The Iraq debacle sullied Washington’s reputation, but did not destroy the illusion of American indispensability. Assorted politicians, like McCain and Obama, promised to restore US primacy, either through more bluster or better diplomacy. But the financial crash has wrecked the economic basis of America’s imperial pretentions. Washington simply can’t afford to attempt to run the world any longer... There was never a good time for empire. But if there ever was a good time, it has passed. Instead of attempting to micro-manage global affairs, America should again become a normal country, strong enough to protect itself, but no longer claiming responsibility for maintaining global security, stability, and prosperity. Doing so isn’t possible, at least at an affordable price. Empire isn’t worth the risk to American society or the lives of American military personnel. It certainly isn’t worth the cost, especially at a time of economic crisis. Let us make John Quincy Adams’ apt dictum the lodestar of our new foreign policy: America “goes not abroad in search of monsters to destroy. She is the well-wisher to the freedom and independence of all. She is the champion and vindicator only of her own.”
Iceland mulls over possible IMF loan
Full article: http://www.irishtimes.com/
Excerpt(s): The Icelandic currency slipped only slightly against the euro today, suggesting a return to calm after days of crisis. But questions remained for investors over the fate of the debts and assets of the island's top three banks, whose collapse precipitated the decline of the formerly high flying nation. Officials were also still talking with the International Monetary Fund about a possible loan to shore up confidence and foreign exchange reserves, a day after a first round of loan negotiations with Russia ended without agreement. Belgium and Luxembourg were also considering help for Iceland's top bank, Kaupthing, where savers from the two nations had money.
Three million on dole within year
Full article: http://www.thesun.co.uk/sol/
Excerpt(s): The warning came after official figures showed that the biggest jobless rise since 1991 has left 1.79million out of work. The number is expected to hit two million by Christmas... And those claiming jobseeker’s allowance rose for the eighth month in a row... The grim forecast of three million out of work next year came from City experts Capital Economics. PM Gordon Brown responded to the figures by vowing to do all he could to keep people in jobs, pointing out unemployment was higher in America, Germany, France and Italy.
Weak US output, job data fuel recession fears
Full article: http://www.irishtimes.com/
Excerpt(s): US industrial production posted the biggest monthly decline since 1974 while consumer prices were flat in September, according to reports today that built a compelling argument for more interest rate cuts to slow a steep economic slide... "With companies cutting back ... the outlook for payrolls and the unemployment rate is terrible," said Ian Shepherdson, chief economist for High Frequency Economics in Valhalla, New York.
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