The fires in Greece are an EU/euro Dresden: a direct result of requiring the Greek government to end its brush-clearing program and slash government employment and infrastructure
In case you haven’t the least idea what the heck it means for China to “float” its currency, let me put it in the language we economists use: China’s float don’t mean squat.
Yet our President, a guy whose marks in Economics 101 are too embarrassing to publish here, ran out to hail the fact that buying Chinese money will now cost more dollars.
Globalization and its Discontents
I was getting myself measured for a straitjacket when I received an urgent message from Bolivia.
The jacket was Thomas Friedman’s idea. He’s the New York Times columnist and amateur economist who wrote The Lexus and the Olive Tree, which is kind of a long, deep kiss to globalization. I was in Cleveland to debate Friedman at the Council on World Affairs meeting in May 2001. Globalization, he told the council, is all about the communications revolution. It’s about the Internet. It’s about how you can sit in your bedroom, buy shares in Amazon.com and send e-mails to Eskimos all at the same time, wearing your pajamas.
Vicente Fox got a well-deserved boot in the derriére for saying Mexicans come to America for taking jobs “not even Blacks want to do.”
But Thomas Friedman earns plaudits and Pulitzers for his column which today announces that East Indians are taking jobs the French are too lazy to do. [See, “A Race to the Top,” New York Times.] Friedman’s fit of racial profiling was motivated by his pique over France’s rejection of the globalizers charter for corporate dominance known as the European Constitution.
By Greg Palast
LONDON — Three confidential documents from inside the World Trade Organization Secretariat and a group of captains of London finance, who call themselves the “British Invisibles,” reveal the extraordinary secret entanglement of industry with government in designing European and American proposals for radical pro-business changes in WTO rules.
The Globalizer Who Came In From the Cold Joe Stiglitz: Today's Winner of the Nobel Prize in Economics
The World Bank’s former Chief Economist’s accusations are eye-popping – including how the IMF and US Treasury fixed the Russian elections
“It has condemned people to death,” the former apparatchik told me. This was like a scene out of Le Carre. The brilliant old agent comes in from the cold, crosses to our side, and in hours of debriefing, empties his memory of horrors committed in the name of a political ideology he now realizes has gone rotten.
(Note to American readers: Replace the words “Trade Minister Dick Caborn” with the words, “US Trade Representative” – whose assurances about the WTO are virtually interchangeable with European ministers’ happy-talk…)
Britain’s Trade Minister Dick Caborn does nothing all day and that keeps him very, very busy. Caborn is busy reassuring his nation that nothing in the proposed General Agreement on Trade in Services (GATS) threatens Britain’s environmental regulations. Nothing in GATS permits American corporate powers to overturn safety and health regulations.
Gregory Palast is almost certainly the greatest investigative journalist you’ve never heard of. An award-winning reporter in Britain, where he writes for The Guardian and The Sunday Observer, as well as hosts the BBC’s 60 Minutes-esque Newsnight, Palast abandoned his native America when the mainstream press declined to publish his groundbreaking, hard-hitting exposes, known for stripping bare abuses of power. Case in point: his recent series on how Jeb Bush and Katherine Harris conspired to illegally purge the Florida voting rolls of thousands of former felons whose voting rights had been restored by other states, the vast majority of whom were (not coincidentally) Democrats. In the few venues that have bothered to report it in the United States, it’s caused scarcely a ripple. Palast will be in Cleveland on Tuesday to debunk reigning myths about the much-touted phenomenon known as globalization.
For The Observer/Guardian UK
It would give me great pleasure to report, as did the New York Times earlier this month, that Bill Clinton has saved Africa. That big-hearted lug will lend African nations a billion dollars a year for AIDS drugs which — more joy! — the pharmaceutical companies have agreed to just give away at 75 percent off list price.