Month: October 2008

“Liquidate labor, liquidate stocks, liquidate the farmers.” So Treasury Secretary Andrew Mellon advised Herbert Hoover in the Great Crash of ’29. Hoover did. And the nation liquidated him – and the Republicans. In the Crash of 2008, 40 percent of stock value has vanished, almost $9 trillion. Some $5 trillion in real estate value has … Continue reading “Liquidating the Empire”

Among my somewhat over-the-hill crowd – I’m 64 – there’s one thing friends have said to me repeatedly since the stock market started to tumble, the global economic system began to melt down, and Iceland went from bank haven to bankrupt. They say, “I’m just not looking. I don’t want to know.” And they’re not … Continue reading “My Depression – or Ours?”

Update at 6:42 p.m. EDT, Oct. 13, 2008At least two Iraqis were killed and 12 more were wounded in an unusually quiet Monday. A U.S. soldier died in of non-combat causes. Meanwhile, Iraqi Prime Minister Nouri al-Maliki has told British troops it is time to go home. Also, General Odierno, commander of U.S. forces, accused … Continue reading “Monday: 1 US Soldier, 2 Iraqis Killed; 12 Iraqis Wounded”

In what appears to be another stunning legal rebuke to President George W. Bush’s policies in the “global war on terrorism,” a federal judge has blocked the government from blacklisting a Muslim-oriented charity to give the group a chance to defend itself after its assets were frozen almost three years ago. In response to a … Continue reading “Muslim Charity to Get
Its Day in Court”

"Watch Ukraine!" John McCain said it twice, once during the first presidential debate: "And watch Ukraine. This whole thing has got a lot to do with Ukraine, Crimea, the base of the Russian fleet in Sevastopol. And the breakdown of the political process in Ukraine between Tymoshenko and Yushchenko is a very serious problem. So … Continue reading “Watching Ukraine”

The U.S. global financial crisis has gone global, which illustrates the still potent impact of the U.S. economy on the rest of the world. It also highlights the fact that central banks and other financial institutions in other parts of the world were too highly leveraged, or too highly exposed to investments whose risks had … Continue reading “Moving Beyond Empire”

Updated at 11:46 p.m. EDT, Oct. 12, 2008Both Baghdad and Mosul again suffered a series of bombings. At least 25 Iraqi were killed and 46 more were wounded across the country. No Coalition deaths were reported. Also, local officials in Mosul are trying to staunch the flight of local Christians from the city. And, the … Continue reading “Sunday: 25 Iraqis Killed, 46 Wounded”

Updated at 10:15 p.m. EDT, Oct. 11, 2005At least 14 Iraqis were killed and 15 more were wounded in the latest round of violence. A U.S. soldier was killed during a roadside bombing in Missan province. Also, the U.S. military reported a precipitous drop in journalists covering the Iraq war from inside Iraq. In Baghdad, … Continue reading “Saturday: 1 US Soldier, 14 Iraqis Killed; 15 Iraqis Wounded”

According to the Britain’s highest military commander in Afghanistan, Brigadier Mark Carleton-Smith, "We’re not going to win this war." This is in stark contrast to the political rhetoric of our two presidential candidates, who are both calling for more troops to be deployed in Afghanistan. According to Obama, "We’ve got to get the job done … Continue reading “Can Afghanistan Be Won?”

Four-score years ago our forefathers overwhelmingly elected Herbert Hoover to serve as President of the United States. He was inaugurated March 4, 1929, just in time to take the rap for not preventing the Wall Street crash of October 29, 1929, which according to the conventional wisdom, triggered the Great Depression. Of course, it was … Continue reading “N More Years!”