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Neoliberalism Has Met Its Match in China

Ellen Brown Truthdig
They should let a lot of their companies go bankrupt so that Americans can buy them. They should have the same kind of free market that has wrecked the US economy.


Finance and Power: A Portrait of The City of London

Geofrey Ingham New Left Review
The City of London, Britain's financial equivalent of Wall Street, is--like its American co-equal --virtually unrivaled given its capacity to develop a business largely on the basis of using the new post-war world currency, the U.S. dollar, and its corresponding wasting away of British industry.

Student Debt Slavery II: Time to Level the Playing Field

Ellen Brown The Web of Debt Blog
student graduation caps with debt protest This is the second in a two-part article on the debt burden America’s students face. Read Part 1 here. The lending business is heavily stacked against student borrowers. Bigger players can borrow for almost nothing, and if their investments don’t work out, they can put their corporate shells through bankruptcy and walk away. Not so with students. Their loan rates are high and if they cannot pay, their debts are not normally dischargeable in bankruptcy. Rather, the debts compound and can dog them for life, compromising not only their own futures but the economy itself.

Banking on Slavery

Gilda Haas Dr. Pop
Edward E. Baptist’s The Half Has Never Been Told: Slavery and the Making of American Capitalism details how financial speculation is baked into the American economy. Baptist explains 185 years ago, acquisition of slaves, like other "property", could be financed by mortgages; that bonds were sold to investors based on the value of those mortgages; and, securities based on enslaved human beings produced a “slave asset bubble” not unlike the 2008 financial crisis.
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