Austerity – who should pay for the financial crisis?
Nick Kelly on UK austerity and who should have paid for the financial crisis.
financial crisis
Another financial crisis?
There are a lot of canaries giving warning in the world’s economic coal mine just now.
Toles on economic recovery
Cuts that could kill
DOC is being cut to the bone. DOC staff, Labour and the Greens have all warned that these cuts risk another Cave Creek disaster.
The Cyprus solution
The financial crisis in Cyprus has taken an unusual turn, and for a change it is the rich who will be left with the bill.
Sunday Reading
My regular Sunday piece of interesting, longer, deeper stories I found during the week. It’s also a chance for you to share what you found this week too. Those stimulating links you wanted to share, but just didn’t fit in anywhere (no linkwhoring). This week: hiding tax, growing up neo-liberal and Syria.
After Five Years: Report Card on Crisis Capitalism
A compelling summary of the mess that capitalism has got us in to. Reprinted with permission from Truthout.org. Read it!
NRT: And so its come to this…
No Right Turn on the plight of democracy in Greece.
Do you feel lucky PREFU?
The PREFU paints a pretty dismal picture of the economy. The worst case scenario is catastrophic, and (at one in five) I think that Treasury has significantly underestimated the odds. Do you feel lucky?…
A Smidgen of Truth Escapes the msm
It’s not often that ‘bald truths’ escape the filtration of the msm. The video below is an example of one of those rare moments.
Down the gurgler
The warnings on the economy are coming thick and fast now, both globally and nationally.
Ready for round two?
The global financial system, which has never properly recovered from the recession, is poised on the brink of a second crash. The headlines are a parade of bad news…
Update: US credit rating downgraded from AAA to AA+ with negative outlook (same as NZ). Announcement was made after close of markets. It’s gonna hit the fan on Monday.
Crisis explained
John Clarke and Bryan Dawe calculate the cost of the European debt crisis…
The too big to fail myth
All over the globe we the tax payer recently got stuck with a bill for trillions of dollars to bail out banks that were “too big to fail”. Or were they? One country, Iceland, went against the trend, and let its banks go under. What happened next?
Bunch of bankers
In America a federal enquiry has now confirmed what we already knew. The 2008 financial crisis was an “avoidable” disaster caused by multiple failures of regulation and good old fashioned greed. If we don’t make some fundamental changes it is all going to happen again…
Key’s economic bravado now reduced to whining
In three short years John Key and National have gone from economic bravado, to failure, to lies, excuses and whining. As the economy languishes they will have nothing to offer except more lies and excuses.
This is a time for fresh thinking, both globally and locally. But we won’t get it from National.
The next financial crisis
If you have some time to spare this Saturday morning, check out the documentary “Overdose” – The story of the greatest financial crisis we will ever see… The one that is on the way.
British austerity budget
The first budget from the new Tory-LibDem government is a shocker, with massive austerity cuts and a rise in VAT to 20%. This is the bill for the £850 billion bail out of big banks coming home to roost.
Financial crisis spreading
In other cheery news this morning: “Euro crisis goes global as leaders fail to stop the rot”. Germany’s Chancellor says that “politics have to reassert primacy over the financial markets”…
Copying Iceland & Ireland bad idea for NZ
You know how the world has been through the worst financial crisis in decades? You know how countries like Ireland and Iceland who had made themselves into financial hubs via tax breaks for banks are now deep in the crap with burgeoning debt and unemployment? Why don’t we do what they did?