The turbulent 2011 at a glance
Kourosh Ziabari
2011 was a turbulent year for the world. With chained revolutions in the Arab world, mounting financial crisis in Europe and the unprecedented wave of protests and mass demonstrations in the U.S. against the corporate system of the government which has long swallowed the rights of the defenseless majority of the people voraciously, one can call 2011 the year of global unrest and tumult.
For Iran, 2011 was also a challenging year. Benefiting from the all-out backing of the Western mainstream media, the apartheid regime of Israel for several times renewed its hawkish war threats against the Islamic Republic and repeatedly used an aggressive rhetoric against the people of Iran, threatening them with various military options which the United States and certain European governments embraced willingly and enthusiastically.
PermalinkEuropean and US Working Class Politics: Right, Left and Neutered
James Petras
The deepening economic crises in Europe and the United States are provoking contrasting socio-political responses from the working and middle classes. In Europe, especially among the Mediterranean countries (Greece, Spain, Portugal and Italy) unemployed youth, workers and lower middle class public employees have organized a series of general strikes, occupations of public plazas and other forms of direct action. At the same time, the middle class, private-sector employees and small business people have turned to the “hard right” and elected, or are on the verge of electing, reactionary prime ministers in Portugal, Spain, Greece and perhaps even in Italy. In other words, the deepening crises has polarized Southern Europe: strengthening the institutional power of the hard right while increasing the strength of the extra-parliamentary left in mobilizing ‘street power’.
Rude Awakening
by Stephen Lendman
In 2008, a protracted global depression began, criminally manufactured by Wall Street and Washington scoundrels, complicit with major European partners.
Why? To permit greater financial and other corporate consolidation, more power, and ability to buy favored assets cheap, profiting hugely at the expense of millions of working households.
At the same time, Washington's got it own agenda. As White House chief of staff, Rahm Emanuel (now Chicago's mayor) told the Wall Street Journal on November 6, 2008:
US Working and Middle Class: Solidarity or Competition in the Face of Crisis?
James Petras
“I don’t think you realize how hard it is for the oppressed to become united. Their misery unites them (…) But otherwise their misery is liable to cut them off from one another, for they are forced to snatch the wretched crumbs from each other’s mouth”. - Bertolt Brecht Collected Plays Vol. 9, (Pantheon Books New York 1972) p. 379
Introduction
There are two uncontestable facts about the United States: the economy and the working class are experiencing a prolonged economic crisis which has lasted over three years and shows no signs of ending; there has been no major revolt, mass national resistance or even large scale protests of any consequence. Few writers have attempted to address this seeming paradox and those who do, have provided partial answers which in fact raise more questions than they answer.
Economic Warfare? Europe versus Wall Street
(March 10) Wall Streets is headed toward international pariah status thanks to two recent actions by the European Union (EU).
On Tuesday, the EU announced that it was banning Wall Street banks from the lucrative government bond business in Europe. They didn't express official concern or fire off a warning shot. They simply banned Wall Street from financing government bond deals like the one Goldman Sachs sold to Greece. The Guardian pointed out that Wall Street bond business from European governments has gone down over the last two years. Now the business is gone period. In effect, the EU has labeled Wall Streets business tactics as too dangerous for their governments to handle.
Then on Wednesday, the President of the European Commission said that the EU was considering a ban on government debt speculation through Credit Default Swaps (CDS) President José Manuel Barroso announced that, "the Commission will examine closely the relevance of banning purely speculative naked sales on Credit Default Swaps of sovereign debt." While not an outright ban, the threat of banning CDS on national debt would be a major loss for the world's financial speculators, particularly those in the United States and Great Britain.
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