United States

By Simon Butler

October 31, 2008 -- In the aftermath of the September 11, 2001, bombings of the World Trade Center and Pentagon, US President George Bush declared an open-ended, apparently indefinite “war on terror”.

Using the terrorist attacks as an excuse, the “war on terror” has meant a war drive to extend US global domination. The threats were free flowing — at one point as many as seven nations were part of the “axis of evil” and therefore potential military targets as Bush threatened “pre-emptive strikes” against US “enemies”.

The war drive began with the 2001 invasion and occupation of Afghanistan. In 2003, in the face of massive global protests, the US launched its invasion of oil-rich Iraq.

Facing sustained resistance from the Iraqi people, and increasingly unpopular at home, the failure of the Iraqi occupation has contributed to making the Bush presidency one of the least popular in history.

Campaigning for the White House, Democratic Party candidate Barack Obama has made much of his initial vote against the war in 2003.

Postscript to "The Financialization of Capital and the Crisis"

Howard Zinn: ‘Obama creates an opening for change but direct action needed'

US$700 billion dollars is twice the combined debt of the world’s poorest 49 countries.

By Tony Iltis

October 11, 2008 -- “Meltdown” is a word that one hears a lot on the news these days.

Despite the US$700 billion government bailout of banks in the US, similar (albeit smaller) bailouts in Europe, and various forms of state intervention in the finance industry on both sides of the Atlantic, sharemarkets worldwide are in free fall. Comparisons with the Great Depression of the 1930s are common. Homelessness and unemployment are rising and are set to increase dramatically.

Meanwhile, more quietly but even more relentlessly, another meltdown is occurring: that of the polar icecaps. According to the Western world’s establishment politicians and corporate media, the way to avert catastrophic climate change lies in setting up elaborate emissions trading schemes and carbon markets: that is, relying on precisely the mechanisms that have created the economic meltdown!

By Malik Miah

October 8, 2008 -- The deepening financial calamity exposes how the “fundamentals” of the economy impact on working people, particularly African Americans. The so-called unfettered free market system has been a failure.

The issue of the economy has given the presidential campaign of Barack Obama, the first Black candidate for a major party, a big boost. After eight years of Bush-Cheney, Obama should be a shoo-in. Democrats are expected to garner big majorities in the Senate and the House of Representatives.

Interview with John Bellamy Foster, editor of Monthly Review, for Página/12 (Argentina).

Rich

By Martin Saatdjian

By William K. Tabb

* * *

By Peter Boyle

September 26, 2008 -- "Rich people got it good in this country", said African-American comedian Wanda Sykes on the September 24 Tonight Show with Jay Leno. "We refuse to let them not be rich. Think about it. Broke people are about to bailout rich people. This is what is going on."

"And they want no oversight. $700 billion dollars and no oversight! No oversight? Why should we? I want receipts dammit! What do you mean no oversight? Because, oh, you're so good with the other money?"

"This is the biggest piece of garbage ever. You know what? It's welfare for the rich...