The Politics of the Economic Crisis

July 31, 2012 by

A useful summary of the situation as of today. But of what? What is this? We have been through many answers starting with credit squeeze, then a real estate bubble that burst, toxic assets, credit swaps, hedge funds, derivatives—bets with the money of other people, yours and mine—all finance and banking. A psychologism was added at an early stage, that of greed. Small savings banks wanted to be in it, the pattern was contagious and spread from Wall Street to the Euro zone. Bailout vs. Stimulus, Wall Street vs. Main Street.

American Warships take a Toll in the Persian Gulf

July 31, 2012 by

The American foreign policy position towards Iran risks further turmoil in the Middle East unless a middle path can be found. If not, any uni or multilateral military actions by the U.S. or its allies will devolve into an unsustainable situation.