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PolEconJournal Posts

Message to the U.S. – Blame the Wars, not China

DECEMBER 2, 2010 – There is a growing chorus of voices in the media and the academy singling out the actions of the Chinese state as central to the dilemmas of the world economy. This focus finds its most articulate presentations, not in the xenophobia of the right, but in the polite analysis of many left-liberals. Paul Krugman, for instance, writing in the run-up to November’s G20 summit in South Korea, praised the United States’ approach of creating money out of nothing (“Quantitative Easing”) as being helpful to the world economy, and criticized the Chinese state’s attempts to keep its…

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Another G20 Summit: The new club of ‘hostile brothers’

DECEMBER 3, 2010 – The G20 – an entity virtually unknown just two years ago – now seems to be holding meetings every month. While people in Canada were still reeling from the militarized display of force that accompanied G20 meetings in Toronto, Canada last June, a second summit was held November 11 and 12 in Seoul, South Korea. In general, it is the rhythm of economic slump which is driving these recurring summits. In particular, the Korea summit was fixated on the danger of currency wars between the major powers – in particular between the United States and China.…

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Remember the Dead – Remember all the dead

If you travel to Washington D.C., and you visit only one historic site, make it the Vietnam Veterans Memorial. A gentle scar in the park that surrounds it, the modest stone wall slowly emerges into view as you walk towards it. On the pathway by the wall, medals lie propped up, along with letters, teddy bears – mementos of loved ones who passed away in the hell that was the American War in Vietnam. And on their knees, head in hand, or on their toes, reaching up to touch a name carved on a high portion of the wall, middle-aged…

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Ecuador, Venezuela: Danger South of the Border

OCTOBER 26, 2010 – It is not difficult to see that the events of September 30, in the Latin American country of Ecuador, amounted to an attempted right-wing coup d’état.[1] Mass mobilizations in the streets and plazas of Quito (the capital) and other cities – in conjunction with action by sections of the armed forces which stayed loyal to the government – stopped the coup before the day was out. But those few hours highlighted, again, the deep dangers facing those fighting for progressive change in Latin America and the Caribbean. Remarkably, the first task is to re-assert that in…

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Currency Wars and the Privilege of Empire

OCTOBER 23, 2010 – In uncertain times, the headline was soothing – “Secretary Geithner vows not to devalue dollar.”[1] United States Secretary of the Treasury Timothy Geithner was saying, in other words, that if there were to be “currency wars” – competitive devaluations by major economies in attempts to gain trade advantage with their rivals – the United States would not be to blame. Who, then, would be the villain? China, of course. Earlier this year, Democratic Party congressman Tim Murphy sponsored a bill authorizing the United States to impose duties on Chinese imports, made too inexpensive (according to Murphy…

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“Lost” in that Old Time Religion

Who among us was really prepared for the full horror of the conclusion to six seasons of “Lost”? Not that the show hadn’t prepared us well. The terror of a plane breaking apart in mid-air; the imprisonment of Sayid, Ben, Jack, Kate, Sawyer; the deaths, the murders, the betrayals; and finally the torture, the repeated, terrible scenes of torture of Ben, of Sayid, of Sawyer – a torture whose normalization through this show and others (“24” comes to mind) should give all of us pause. But all of that was beside the point. In the end, it was all about…

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Anti-Tory Then and Anti-Tory Now: ‘Power in the Darkness’

MAY 11, 2010 – So David Cameron is Britain’s new prime minister. His accession to 10 Downing Street is reminiscent of another May election when the smug elite organized in the Conservative Party outpolled the Labour Party. May 3, 1979, Margaret Thatcher defeated James Callaghan. She would in the 1980s, partner up with her U.S. equivalent – former B-movie Hollywood actor, Ronald Reagan – the two becoming symbolic of what we now call the neo-liberal revolution. Britain in the 1970s, however, did not just give the world neo-liberalism. It also produced cultures of resistance. And as the election results rolled…

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‘Progressive’ Europe’s Reactionary Stew

The bailout of the debt-ridden Greek government seems finally to be complete. The European Union (EU) – most centrally the French and German treasuries – along with the International Monetary Fund (IMF) will provide €110-billion ($150-billion) in emergency loans. The price for these loans will be high. Along with steep tax increases and cuts in spending, the loans are conditional on a public sector wage freeze being extended through to 2014.[1] This is in reality a wage cut, as there will be drastic changes to the so-called “bonuses” – holiday pay that has become an essential part of the income…

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Afghanistan – Et tu Bruce?

SEPTEMBER 13, 2009 [1] – Bruce Cockburn sang against U.S. imperialism in Guatemala. He sang for the revolution in Nicaragua. He is now singing for Canadian imperialism in Afghanistan. Our movement is weaker for it. In the 1980s, Central America was in the throes of revolution and counter-revolution. The signature event was the 1979 overthrow of the brutal Somoza dictatorship in Nicaragua, an overthrow led and organized by the Sandinista National Liberation Front (FSLN). That revolution was bitterly opposed by the Generals who controlled many Central and South American states at the time, and the United States which had long…

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Shed no tears for the SPP

Finally it has been publicly (if quietly) acknowledged that the so-called “Security and Prosperity Partnership of North America” (SPP) is no more. Stuart Trew of the Council of Canadians drew our attention to the obituary, finally posted on the official SPP site.[1] Truth be told, the SPP has been dead for a couple of years. The following obituary was written in October, 2007[2] – and if you ask yourself why this death been kept so secret, you open the door to many insights into the current impasse of neoliberalism. OCTOBER 13, 2007 – In an extraordinary article, published in The…

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