Predicting Worse Ahead from America\'s Economic Cr
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Predicting Worse Ahead from America's Economic Crisis
Op_ed
By Stephen Lendman
Friday, 04 September 2009
Austrian economist Ludwig von Mises (1881 - 1973) said
"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
Labor Day. The Rodney Dangerfield of holidays. Nobody knows why it’s treated like the runt of the celebration litter. Maybe it has to something to do with our biological clocks being stuck on elementary school time. Deep down in our bones, we’re anticipating the first Monday of September pounding the final nail into the coffin of our vacation signaling a return to whatever scholastic institution we’ve been consigned to that semester. Making it as endearing as thunderheads on a picnic morning.
"With millions unemployed, and health care costs rising through the roof, and the only answer ever given to unemployment is 'go back to school', why are there still so few medical schools that 1/3 of our doctors are imported and Americans who want to be doctors frequently have to resort to joining the military in order to be trained? We should have a doctor on every corner, competing with each other."
Ironically, Bollywood star Shah Rukh Khan was traveling to the United States to promote his latest film about post-9/11 racial profiling when he was detained upon entry into the country at Newark’s Liberty (another irony) International Airport. U.S. officials denied that Khan was formally detained, but his interrogation lasted more than an hour. The outraged Khan pledged to cut back on visits to the United States, and his incensed fans held a raucous protest. I feel Khan’s pain—literally.
Chinese authorities have stepped up security in Urumqi, capital of the western region of Xinjiang, following a day of protests by thousands of residents angry over a string of alleged syringe attacks.
Divisions are growing among Group of 20 nations on how to recover from the global economic crisis, as finance ministers meet in London, Britain's capital.
North Korea is in the final stages of enriching uranium, the country's state media has said, a process that could give it a second way to make nuclear bombs.
Israel's prime minister is set to approve plans to build hundreds of new homes on Palestinian land in the occupied West Bank, before considering US demands for a construction freeze.
Michael Jackson, the iconic singer who died from a drug overdose more than two months ago, has been laid to rest at a ceremony in Los Angeles attended by family and celebrities.
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